Name: Stryker Corp. (NYSE:SYK) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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Stryker Corp., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net earnings	1,994)	1,599)	2,083)	3,553)	1,020)
Marketable securities	3)	—)	1)	—)	(4)
Pension plans	104)	(80)	(42)	(3)	(2)
Unrealized gains (losses) on designated hedges	50)	(57)	(3)	22)	4)
Financial statement translation	469)	(414)	69)	(97)	210)
Other comprehensive income (loss), net of tax	626)	(551)	25)	(78)	208)
Comprehensive income	2,620)	1,048)	2,108)	3,475)	1,228)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The financial performance from 2017 through 2021 is characterized by significant volatility in net earnings and comprehensive income, with a notable peak in 2018 followed by a period of contraction and a subsequent recovery in 2021.

Net Earnings Analysis: Net earnings experienced a sharp increase from 1,020 million USD in 2017 to a peak of 3,553 million USD in 2018. This was followed by a consistent decline over the next two years, falling to 2,083 million USD in 2019 and further to 1,599 million USD in 2020. A recovery trend began in 2021, with earnings rising to 1,994 million USD.
Drivers of Other Comprehensive Income: Other comprehensive income is heavily influenced by financial statement translation, which exhibited extreme fluctuations. Translation gains of 210 million USD in 2017 shifted to a loss of 97 million USD in 2018, then returned to a gain of 69 million USD in 2019, followed by a substantial loss of 414 million USD in 2020, and finally a gain of 469 million USD in 2021. Pension plans showed a deepening negative impact from 2017 through 2020, reaching a low of negative 80 million USD, before reversing to a gain of 104 million USD in 2021. Unrealized gains on designated hedges were similarly volatile, moving from a gain of 22 million USD in 2018 to a loss of 57 million USD in 2020, and recovering to 50 million USD in 2021.
Comprehensive Income Trends: Comprehensive income tracked closely with net earnings but was modulated by the volatility of other comprehensive income. The maximum value was reached in 2018 at 3,475 million USD. The most significant contraction occurred in 2020, where comprehensive income dropped to 1,048 million USD, driven by the simultaneous negative impact of translation losses, pension plan deficits, and hedge losses. By 2021, comprehensive income rebounded strongly to 2,620 million USD, supported by gains across all components of other comprehensive income and an increase in net earnings.

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