Item 6. SELECTED FINANCIAL DATA.

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Item 6. SELECTED FINANCIAL DATA.


Statement of Earnings Data	2025	2024	2023	2022	2021
Net sales	$25,116	$22,595	$20,498	$18,449	$17,108
Cost of sales	9,051	8,155	7,440	6,871	6,140
Gross profit	$16,065	$14,440	$13,058	$11,578	$10,968
Research, development and engineering expenses	1,623	1,466	1,388	1,454	1,235
Selling, general and administrative expenses	8,651	7,685	7,111	6,386	6,266
Amortization of intangible assets	732	623	635	627	619
Goodwill and other impairments	170	977	36	270	264
Total operating expenses	$11,176	$10,751	$9,170	$8,737	$8,384
Operating income	$4,889	$3,689	$3,888	$2,841	$2,584
Interest expense	(607)	(409)	(363)	(341)	(354)
Other income	232	212	148	183	51
Earnings before income taxes	$4,514	$3,492	$3,673	$2,683	$2,281
Income taxes	1,268	499	508	325	287
Net earnings	$3,246	$2,993	$3,165	$2,358	$1,994

Net earnings per share of common stock:
Basic	$8.49	$7.86	$8.34	$6.23	$5.29
Diluted	$8.40	$7.76	$8.25	$6.17	$5.21

Dividends declared per share of common stock	$3.400	$3.240	$3.050	$2.835	$2.585

Balance Sheet Data
Cash, cash equivalents and current marketable securities	$4,100	$3,743	$3,053	$1,928	$3,019
Accounts receivable, net	4,039	3,987	3,765	3,565	3,022
Inventories	5,310	4,774	4,843	3,995	3,314
Property, plant and equipment, net	3,876	3,448	3,215	2,970	2,833
Total assets	$47,844	$42,971	$39,912	$36,884	$34,631
Accounts payable	1,799	1,679	1,517	1,413	1,129
Total debt	15,859	13,597	12,995	13,048	12,479
Shareholders’ equity	$22,420	$20,634	$18,593	$16,616	$14,877

Cash Flow Data
Net cash provided by operating activities	$5,044	$4,242	$3,711	$2,624	$3,263
Purchases of property, plant and equipment	761	755	575	588	525
Depreciation	461	427	393	371	371
Acquisitions, net of cash acquired	4,960	1,628	390	2,563	339
Amortization of intangible assets	732	623	635	627	619
Payments of dividends	1,284	1,219	1,139	1,051	950

Other Data
Number of shareholders of record	2,334	2,520	2,518	2,533	2,551
Approximate number of employees	56,000	53,000	52,000	51,000	46,000


Dollar amounts in millions except per share amounts or as otherwise specified.	15


STRYKER CORPORATION		2025 FORM 10-K

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