Item 6. SELECTED FINANCIAL DATA.

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Item 6. SELECTED FINANCIAL DATA.



Statement of Earnings Data	2018			2017			2016			2015			2014
Net sales	$	13,601		$	12,444		$	11,325		$	9,946		$	9,675
Cost of sales	4,663			4,264			3,821			3,333			3,310
Gross profit	$	8,938		$	8,180		$	7,504		$	6,613		$	6,365
Research, development and engineering expenses	862			787			715			625			614
Selling, general and administrative expenses	5,099			4,552			4,137			3,610			3,547
Recall charges, net of insurance proceeds	23			173			158			296			761
Amortization of intangible assets	417			371			319			210			188
Total operating expenses	$	6,401		$	5,883		$	5,329		$	4,741		$	5,110
Operating income	$	2,537		$	2,297		$	2,175		$	1,872		$	1,255
Other income (expense), net	(181		)	(234		)	(254		)	(137		)	(95		)
Earnings before income taxes	$	2,356		$	2,063		$	1,921		$	1,735		$	1,160
Income taxes	(1,197		)	1,043			274			296			645
Net earnings	$	3,553		$	1,020		$	1,647		$	1,439		$	515

Net earnings per share of common stock:
Basic net earnings per share of common stock	$	9.50		$	2.73		$	4.40		$	3.82		$	1.36
Diluted net earnings per share of common stock	$	9.34		$	2.68		$	4.35		$	3.78		$	1.34

Dividends declared per share of common stock	$	1.93		$	1.745		$	1.565		$	1.415		$	1.26

Balance Sheet Data
Cash, cash equivalents and current marketable securities	$	3,699		$	2,793		$	3,384		$	4,079		$	5,000
Accounts receivable, less allowance	2,332			2,198			1,967			1,662			1,572
Inventories	2,955			2,465			2,030			1,639			1,588
Property, plant and equipment, net	2,291			1,975			1,569			1,199			1,098
Total assets	27,229			22,197			20,435			16,223			17,258
Accounts payable	646			487			437			410			329
Total debt	9,859			7,222			6,914			3,998			3,952
Shareholders’ equity	$	11,730		$	9,980		$	9,550		$	8,511		$	8,595

Cash Flow Data
Net cash provided by operating activities	$	2,610		$	1,559		$	1,915		$	981		$	1,858
Purchases of property, plant and equipment	572			589			490			270			233
Depreciation	306			271			227			187			190
Acquisitions, net of cash acquired	2,451			831			4,332			153			916
Amortization of intangible assets	417			371			319			210			188
Dividends paid	703			636			568			521			462
Repurchase of common stock	$	300		$	230		$	13		$	700		$	100

Other Data
Number of shareholders of record	2,732			2,850			3,010			3,118			3,305
Approximate number of employees	36,000			33,000			33,000			27,000			26,000



Dollar amounts in millions except per share amounts or as otherwise specified.	7

STRYKER CORPORATION 2018 FORM 10-K

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