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STRYKER CORPORATION 2016 Form 10-K Dollar amounts in millions except per share amounts or as otherwise specified. 18 Stryker Corporation and Subsidiaries CONSOLIDATED BALANCE SHEETS 2016 2015 Assets Current assets Cash and cash equivalents $ 3,316 $ 3,379 Marketable securities 68 700 Accounts receivable, less allowance of $56 ($61 in 2015) 1,967 1,662 Inventories: Materials and supplies 425 304 Work in process 130 103 Finished goods 1,475 1,232 Total inventories $ 2,030 $ 1,639 Prepaid expenses and other current assets 480 563 Total current assets $ 7,861 $ 7,943 Property, plant and equipment: Land, buildings and improvements 820 687 Machinery and equipment 2,341 2,043 Total property, plant and equipment 3,161 2,730 Less allowance for depreciation 1,592 1,531 Net property, plant and equipment $ 1,569 $ 1,199 Goodwill 6,356 4,136 Other intangibles, net 3,508 1,794 Other noncurrent assets 1,141 1,151 Total assets $ 20,435 $ 16,223 Liabilities and shareholders' equity Current liabilities Accounts payable $ 437 $ 410 Accrued compensation 767 637 Income taxes 40 141 Dividend payable 159 142 Accrued recall expenses 594 694 Accrued expenses and other liabilities 923 710 Current maturities of debt 228 768 Total current liabilities $ 3,148 $ 3,502 Long-term debt, excluding current maturities 6,686 3,230 Other noncurrent liabilities 1,051 980 Total liabilities $ 10,885 $ 7,712 Shareholders' equity Common stock, $0.10 par value: Authorized: 1 billion shares, outstanding: 375 million shares (373 million shares in 2015) 37 37 Additional paid-in capital 1,432 1,321 Retained earnings 8,842 7,792 Accumulated other comprehensive loss (761) (639) Total shareholders' equity $ 9,550 $ 8,511 Total liabilities & shareholders' equity $ 20,435 $ 16,223 See accompanying notes to Consolidated Financial Statements.