Stryker Corp Files 2024 10-K, Details Debt

Ticker: SYK · Form: 10-K · Filed: 2025-02-12T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, debt, financials

TL;DR

Stryker's 2024 10-K is in, showing debt details like 2.125% notes due 2027. Looks solid.

AI Summary

Stryker Corporation filed its 2024 10-K report on February 12, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The company, headquartered in Portage, Michigan, operates within the surgical and medical instruments sector. Key financial instruments mentioned include various senior unsecured notes with different maturity dates and interest rates, such as the 2.125% notes due 2027 and the 0.750% notes due 2029.

Why It Matters

This filing provides investors with a comprehensive overview of Stryker's financial health and operational details for the past fiscal year, crucial for understanding its market position and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or significant new risks.

Key Numbers

Key Players & Entities

FAQ

What is Stryker Corporation's primary industry classification?

Stryker Corporation is classified under 'SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]'.

When does the fiscal year covered by this 10-K filing end?

The fiscal year covered by this 10-K filing ends on December 31, 2024.

What is the SEC file number for Stryker Corporation?

The SEC file number for Stryker Corporation is 001-13149.

What are some of the specific debt instruments mentioned in the filing?

The filing mentions several senior unsecured notes, including the 2.125% notes due 2027, 3.375% notes due 2028, 0.750% notes due 2029, 2.625% notes due 2030, and 1.000% notes due 2031.

Where is Stryker Corporation headquartered?

Stryker Corporation is headquartered at 1941 Stryker Way, Portage, MI 49002.

Filing Stats: 4,489 words · 18 min read · ~15 pages · Grade level 13.8 · Accepted 2025-02-12 11:47:17

Key Financial Figures

Filing Documents

Business 1

Item 1. Business 1

Risk Factors 4

Item 1A. Risk Factors 4

Unresolved Staff Comments 12

Item 1B. Unresolved Staff Comments 12

Cybersecurity 12

Item 1C. Cybersecurity 12

Properties 12

Item 2. Properties 12

Legal Proceedings 13

Item 3. Legal Proceedings 13

Mine Safety Disclosures 13

Item 4. Mine Safety Disclosures 13 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 13

Selected Financial Data 14

Item 6. Selected Financial Data 14

Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk 24

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 24

Financial Statements and Supplementary Data 25

Item 8. Financial Statements and Supplementary Data 25 Report of Independent Registered Public Accounting Firm (PCAOB ID: 42 ) 25 Consolidated Statements of Earnings 26 Consolidated Statements of Comprehensive Income 26 Consolidated Balance Sheets 27 Consolidated Statements of Shareholders' Equity 28 Consolidated Statements of Cash Flows 29

Notes to Consolidated Financial Statements 30

Notes to Consolidated Financial Statements 30

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 44

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 44

Controls and Procedures 44

Item 9A. Controls and Procedures 44

Other Information 45

Item 9B. Other Information 45

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 45

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 45 PART III

Directors, Executive Officers and Corporate Governance 45

Item 10. Directors, Executive Officers and Corporate Governance 45

Executive Compensation 45

Item 11. Executive Compensation 45

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 45

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 45

Certain Relationships and Related Transactions, and Director Independence 46

Item 13. Certain Relationships and Related Transactions, and Director Independence 46

Principal Accountant Fees and Services 46

Item 14. Principal Accountant Fees and Services 46 PART IV

Exhibits, Financial Statement Schedules 47

Item 15. Exhibits, Financial Statement Schedules 47

Form 10-K Summary 50

Item 16. Form 10-K Summary 50 STRYKER CORPORATION 2024 FORM 10-K PART I

BUSINESS

ITEM 1. BUSINESS. Stryker Corporation (Stryker or the Company) is a global leader in medical technologies and, together with our customers, we are driven to make healthcare better. We offer innovative products and services in MedSurg, Neurotechnology and Orthopaedics that help improve patient and healthcare outcomes. Alongside our customers around the world, we impact more than 150 million patients annually. Our core values guide our behaviors and actions and are fundamental to how we execute our mission. Stryker was incorporated in Michigan in 1946 as the successor company to a business founded in 1941 by Dr. Homer H. Stryker, a prominent orthopaedic surgeon and inventor of several medical products. Our products are sold in approximately 75 countries through company-owned subsidiaries and branches as well as third-party dealers and distributors, and include surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling, emergency medical equipment and intensive care disposable products; clinical communication and artificial intelligence-assisted virtual care platform technology; neurosurgical and neurovascular devices; implants used in joint replacement and trauma surgeries; Mako Robotic-Arm Assisted technology; spinal devices; as well as other products used in a variety of medical specialties. Most of our products are marketed directly to doctors, hospitals and other healthcare facilities. As used herein, and except where the context otherwise requires, "Stryker," "we," "us," and "our" refer to Stryker Corporation and its consolidated subsidiaries. Business Segments and Geographic Information We segregate our operations into two reportable business segments: (i) MedSurg and Neurotechnology and (ii) Orthopaedics. Financial information regarding our reportable business segments and certain geographic information is included under "Consolidated Results of Operations" in Item 7 of this report and Note 14 to our Cons

RISK FACTORS

ITEM 1A. RISK FACTORS. This report contains statements that are not historical facts and are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current projections about operations, industry conditions, financial condition and liquidity. Words that identify forward-looking statements include, without limitation, words such as "may," "could," "will," "should," "possible," "plan," "predict," "forecast," "potential," "anticipate," "estimate," "expect," "project," "intend," "believe," "may impact," "on track," "goal," "strategy" and words and terms of similar substance used in connection with any discussion of future operating or financial performance, an acquisition or our businesses. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Those state

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