Item 6. SELECTED FINANCIAL DATA.

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Item 6. SELECTED FINANCIAL DATA.


Statement of Earnings Data	2021		2020		2019		2018		2017
Net sales	$	17,108	$	14,351	$	14,884	$	13,601	$	12,444
Cost of sales	6,140		5,294		5,188		4,663		4,264
Gross profit	$	10,968	$	9,057	$	9,696	$	8,938	$	8,180
Research, development and engineering expenses	1,235		984		971		862		787
Selling, general and administrative expenses	6,427		5,361		5,356		5,099		4,552
Recall charges	103		17		192		23		173
Amortization of intangible assets	619		472		464		417		371
Total operating expenses	$	8,384	$	6,834	$	6,983	$	6,401	$	5,883
Operating income	$	2,584	$	2,223	$	2,713	$	2,537	$	2,297
Other income (expense), net	(303)		(269)		(151)		(181)		(234)
Earnings before income taxes	$	2,281	$	1,954	$	2,562	$	2,356	$	2,063
Income taxes	287		355		479		(1,197)		1,043
Net earnings	$	1,994	$	1,599	$	2,083	$	3,553	$	1,020

Net earnings per share of common stock:
Basic	$	5.29	$	4.26	$	5.57	$	9.50	$	2.73
Diluted	$	5.21	$	4.20	$	5.48	$	9.34	$	2.68

Dividends declared per share of common stock	$	2.585	$	2.355	$	2.135	$	1.93	$	1.745

Balance Sheet Data
Cash, cash equivalents and current marketable securities	$	3,019	$	3,024	$	4,425	$	3,699	$	2,793
Accounts receivable, net	3,022		2,701		2,893		2,332		2,198
Inventories	3,314		3,494		2,980		2,955		2,465
Property, plant and equipment, net	2,833		2,752		2,567		2,291		1,975
Total assets	$	34,631	$	34,330	$	30,167	$	27,229	$	22,197
Accounts payable	1,129		810		675		646		487
Total debt	12,479		13,991		11,090		9,859		7,222
Shareholders’ equity	$	14,877	$	13,084	$	12,807	$	11,730	$	9,980

Cash Flow Data
Net cash provided by operating activities	$	3,263	$	3,277	$	2,191	$	2,610	$	1,559
Purchases of property, plant and equipment	525		487		649		572		598
Depreciation	371		340		314		306		271
Acquisitions, net of cash acquired	339		4,222		802		2,451		831
Amortization of intangible assets	619		472		464		417		371
Payments of dividends	950		863		778		703		636
Repurchase of common stock	—		—		307		300		230

Other Data
Number of shareholders of record	2,551		2,597		2,636		2,732		2,850
Approximate number of employees	46,000		43,000		40,000		36,000		33,000


Dollar amounts in millions except per share amounts or as otherwise specified.			11

STRYKER CORPORATION 2021 FORM 10-K

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