STRYKER

Stryker 2014 Annual Report

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Stryker Corporation and Subsidiaries CONSOLIDATED BALANCE SHEETS December 31, 2014 2013 ASSETS Current assets Cash and cash equivalents $ 1,795 $ 1,339 Marketable securities 3,205 2,641 Accounts receivable, less allowance of $59 ($72 in 2013) 1,572 1,518 Inventories Materials and supplies 248 227 Work in process 88 85 Finished goods 1,252 1,110 Total inventories 1,588 1,422 Deferred income taxes 989 880 Prepaid expenses and other current assets 524 535 Total current assets 9,673 8,335 Property, plant and equipment Land, buildings and improvements 678 686 Machinery and equipment 1,919 1,811 Total property, plant and equipment 2,597 2,497 Less accumulated depreciation 1,499 1,416 Net property, plant and equipment 1,098 1,081 Other assets Goodwill 4,186 3,844 Other intangibles, net 2,018 1,989 Other 738 494 Total assets $ 17,713 $ 15,743 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable 329 314 Accrued compensation 597 535 Income taxes 333 131 Dividend payable 131 115 Accrued recall expenses 1,593 772 Accrued expenses and other liabilities 754 765 Current maturities of debt 727 25 Total current liabilities 4,464 2,657 Long-term debt, excluding current maturities 3,246 2,739 Other liabilities 1,408 1,300 Shareholders' equity Common stock, $0.10 par value: Authorized: 1 billion shares, outstanding: 378 million shares (378 million in 2013) 38 38 Additional paid-in capital 1,252 1,160 Retained earnings 7,559 7,617 Accumulated other comprehensive income (254) 232 Total shareholders' equity 8,595 9,047 Total liabilities & shareholders' equity $ 17,713 $ 15,743 See accompanying notes to Consolidated Financial Statements. STRYKER CORPORATION 2014 Form 10-K 20 Dollar amounts in millions except per share amounts or as otherwise specified.

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