STRYKER CORP, 10-K filed on 2/14/2024
Annual Report
v3.24.0.1
COVER PAGE - USD ($)
 12 Months Ended
Dec. 31, 2023
Jan. 31, 2024
Jun. 30, 2023
Entity Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2023    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-13149    
Entity Registrant Name STRYKER CORP    
Entity Incorporation, State or Country Code MI    
Entity Tax Identification Number 38-1239739    
Entity Address, Address Line One 1941 Stryker Way,    
Entity Address, City or Town Portage,    
Entity Address, State or Province MI    
Entity Address, Postal Zip Code 49002    
City Area Code (269)    
Local Phone Number 385-2600    
Title of 12(g) Security None    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Emerging Growth Company false    
Entity Small Business false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 109,722,902,589
Entity Common Stock, Shares Outstanding   380,264,036  
Documents Incorporated by Reference
Portions of the proxy statement to be filed with the U.S. Securities and Exchange Commission relating to the 2024 Annual Meeting of Shareholders (the 2024 proxy statement) are incorporated by reference into Part III.
    
Amendment Flag false    
Document Fiscal Year Focus 2023    
Document Fiscal Period Focus FY    
Entity Central Index Key 0000310764    
Common Stock, $.10 Par Value      
Entity Information [Line Items]      
Title of 12(b) Security Common Stock, $.10 Par Value    
Trading Symbol SYK    
Security Exchange Name NYSE    
0.250% Notes due 2024      
Entity Information [Line Items]      
Title of 12(b) Security 0.250% Notes due 2024    
Trading Symbol SYK24A    
Security Exchange Name NYSE    
2.125% Notes due 2027      
Entity Information [Line Items]      
Title of 12(b) Security 2.125% Notes due 2027    
Trading Symbol SYK27    
Security Exchange Name NYSE    
3.375% Notes due 2028      
Entity Information [Line Items]      
Title of 12(b) Security 3.375% Notes due 2028    
Trading Symbol SYK28    
Security Exchange Name NYSE    
0.750% Notes due 2029      
Entity Information [Line Items]      
Title of 12(b) Security 0.750% Notes due 2029    
Trading Symbol SYK29    
Security Exchange Name NYSE    
2.625% Notes due 2030      
Entity Information [Line Items]      
Title of 12(b) Security 2.625% Notes due 2030    
Trading Symbol SYK30    
Security Exchange Name NYSE    
1.000% Notes due 2031      
Entity Information [Line Items]      
Title of 12(b) Security 1.000% Notes due 2031    
Trading Symbol SYK31    
Security Exchange Name NYSE    
v3.24.0.1
Audit Information
 12 Months Ended
Dec. 31, 2023
Auditor Information [Abstract]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location Grand Rapids, Michigan
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Consolidated Statements Of Earnings - USD ($)
$ in Thousands, shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Net sales $ 20,498,000 $ 18,449,000 $ 17,108,000
Cost of sales 7,440,000 6,871,000 6,140,000
Gross profit 13,058,000 11,578,000 10,968,000
Research, development and engineering expenses 1,388,000 1,454,000 1,235,000
Selling, general and administrative expenses 7,129,000 6,455,000 6,427,000
Recall charges, net 18,000 (15,000) 103,000
Amortization of intangible assets 635,000 627,000 619,000
Goodwill impairment 0 216,000 0
Total operating expenses 9,170,000 8,737,000 8,384,000
Operating income 3,888,000 2,841,000 2,584,000
Other income (expense), net (215,000) (158,000) (303,000)
Earnings before income taxes 3,673,000 2,683,000 2,281,000
Income taxes 508,000 325,000 287,000
Net earnings $ 3,165,000 $ 2,358,000 $ 1,994,000
Net earnings per share of common stock:      
Basic net earnings per share of common stock (in dollars per share) $ 8.34 $ 6.23 $ 5.29
Diluted net earnings per share of common stock (in dollars per share) $ 8.25 $ 6.17 $ 5.21
Weighted-average shares outstanding (in millions):      
Basic (in shares) 379.6 378.2 377.0
Effect of dilutive employee stock compensation (in shares) 4.1 4.0 5.3
Diluted (in shares) 383.7 382.2 382.3
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Consolidated Statements Of Earnings (Parenthetical) - shares
shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Anti-dilutive shares excluded from calculation of dilutive employee stock options (in shares) 0.0 4.3 0.0
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Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net earnings $ 3,165 $ 2,358 $ 1,994
Other comprehensive income (loss), net of tax      
Marketable securities 1 (1) 3
Pension plans (59) 186 104
Unrealized gains (losses) on designated hedges (13) 12 50
Financial statement translation (124) 113 469
Total other comprehensive income (loss), net of tax (195) 310 626
Comprehensive income $ 2,970 $ 2,668 $ 2,620
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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 2,971 $ 1,844
Marketable securities 82 84
Accounts receivable, less allowance of $182 ($154 in 2022) 3,765 3,565
Inventories:    
Materials and supplies 1,242 1,006
Work in process 330 348
Finished goods 3,271 2,641
Total inventories 4,843 3,995
Prepaid expenses and other current assets 857 787
Total current assets 12,518 10,275
Property, plant and equipment:    
Land, buildings and improvements 1,692 1,739
Machinery and equipment 4,652 4,066
Total property, plant and equipment 6,344 5,805
Less allowance for depreciation 3,129 2,835
Property, plant and equipment, net 3,215 2,970
Goodwill 15,243 14,880
Other intangibles, net 4,593 4,885
Noncurrent deferred income tax assets 1,670 1,410
Other noncurrent assets 2,673 2,464
Total assets 39,912 36,884
Current liabilities    
Accounts payable 1,517 1,413
Accrued compensation 1,478 1,149
Income taxes 391 292
Dividend payable 304 284
Accrued product liabilities 209 230
Accrued expenses and other liabilities 1,928 1,744
Current maturities of debt 2,094 1,191
Total current liabilities 7,921 6,303
Long-term debt, excluding current maturities 10,901 11,857
Income taxes 567 641
Other noncurrent liabilities 1,930 1,467
Total liabilities 21,319 20,268
Shareholders' equity    
Common stock, $0.10 par value 38 38
Additional paid-in capital 2,200 2,034
Retained earnings 16,771 14,765
Accumulated other comprehensive loss (416) (221)
Total shareholders' equity 18,593 16,616
Total liabilities & shareholders' equity $ 39,912 $ 36,884
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
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Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Statement of Financial Position [Abstract]    
Accounts receivable, allowance $ 182 $ 154
Common stock, par value (in dollars per share) $ 0.10 $ 0.10
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Consolidated Statements Of Shareholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2020   $ 38 $ 1,741 $ 12,462 $ (1,157)
Beginning balance, shares at Dec. 31, 2020   376.1      
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock under stock compensation and benefit plans   $ 0 (22)    
Issuance of common stock under stock compensation and benefit plans, shares   1.4      
Share-based compensation     171    
Net earnings $ 1,994     1,994  
Cash dividends declared       (976)  
Other comprehensive income (loss) 626       626
Ending balance, shares at Dec. 31, 2021   377.5      
Ending balance at Dec. 31, 2021 14,877 $ 38 1,890 13,480 (531)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock under stock compensation and benefit plans   $ 0 (24)    
Issuance of common stock under stock compensation and benefit plans, shares   1.2      
Share-based compensation     168    
Net earnings 2,358     2,358  
Cash dividends declared       (1,073)  
Other comprehensive income (loss) 310       310
Ending balance, shares at Dec. 31, 2022   378.7      
Ending balance at Dec. 31, 2022 16,616 $ 38 2,034 14,765 (221)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock under stock compensation and benefit plans   $ 0 (39)    
Issuance of common stock under stock compensation and benefit plans, shares   1.4      
Share-based compensation     205    
Net earnings 3,165     3,165  
Cash dividends declared       (1,159)  
Other comprehensive income (loss) (195)        
Ending balance, shares at Dec. 31, 2023   380.1      
Ending balance at Dec. 31, 2023 $ 18,593 $ 38 $ 2,200 $ 16,771 $ (416)
v3.24.0.1
Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net earnings $ 3,165 $ 2,358 $ 1,994
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 393 371 371
Amortization of intangible assets 635 627 619
Goodwill impairment 0 216 0
Asset impairments 36 54 264
Share-based compensation 205 168 171
Recall charges, net 18 (15) 103
Sale of inventory stepped up to fair value at acquisition 0 12 266
Deferred income tax (benefit) expense (206) 58 (237)
Changes in operating assets and liabilities:      
Accounts receivable (175) (579) (377)
Inventories (797) (762) (189)
Accounts payable 77 290 329
Accrued expenses and other liabilities 533 328 315
Recall-related payments (35) (157) (221)
Income taxes (4) (238) (98)
Other, net (134) (107) (47)
Net cash provided by operating activities 3,711 2,624 3,263
Investing activities      
Acquisitions, net of cash acquired (390) (2,563) (339)
Purchases of marketable securities (52) (52) (49)
Proceeds from sales of marketable securities 54 43 55
Purchases of property, plant and equipment (575) (588) (525)
Proceeds from settlement of net investment hedges 0 197 0
Other investing, net 1 39 (1)
Net cash used in investing activities (962) (2,924) (859)
Financing activities      
Proceeds (payments) on short-term borrowings, net 540 (375) (7)
Proceeds from issuance of long-term debt 1,241 1,500 5
Payments on long-term debt (2,058) (653) (1,151)
Payments of dividends (1,139) (1,051) (950)
Cash paid for taxes from withheld shares (155) (122) (114)
Other financing, net (23) (48) (148)
Net cash provided by (used in) financing activities (1,594) (749) (2,365)
Effect of exchange rate changes on cash and cash equivalents (28) (51) (38)
Change in cash and cash equivalents 1,127 (1,100) 1
Cash and cash equivalents at beginning of year 1,844 2,944 2,943
Cash and cash equivalents at end of year 2,971 1,844 2,944
Supplemental cash flow disclosure:      
Cash paid for income taxes, net of refunds 693 505 622
Cash paid for interest on debt $ 356 $ 324 $ 325
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Significant Accounting Policies
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Significant Accounting Policies SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations: Stryker (the "Company," "we," "us," or "our") is a global leader in medical technologies and, together with its customers, is driven to make healthcare better. The Company offers innovative products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Our products include surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling, emergency medical equipment and intensive care disposable products; clinical communication and workflow solutions; 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.
Basis of Presentation and Consolidation: The Consolidated Financial Statements include the Company and its subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. We have no material interests in variable interest entities and none that require consolidation. Certain prior year amounts have been reclassified to conform with current year presentation in our Consolidated Financial Statements.
Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of net sales and expenses in the reporting period. Actual results could differ from those estimates.
Revenue Recognition: Sales are recognized as the performance obligations to deliver products or services (including services under extended warranty service contracts) are satisfied and are recorded based on the amount of consideration we expect to receive in exchange for satisfying the performance obligations. Our sales are recognized primarily when we transfer control to the customer, which can be on the date of shipment, the date of receipt by the customer or, for most Orthopaedics products, when we have received a purchase order and appropriate notification the product has been used or implanted. Products and services are primarily transferred to customers at a point in time, with some transfers of services taking place over time.
Sales represent the amount of consideration we expect to receive from customers in exchange for transferring products and services. Net sales exclude sales, value added and other taxes we collect from customers. Other costs to obtain and fulfill contracts are generally expensed as incurred due to the short-term nature of most of our sales. We extend terms of payment to our customers based on commercially reasonable terms for the markets of our customers, while also considering their credit quality.
A provision for estimated sales returns, discounts and rebates is recognized as a reduction of sales in the same period that the sales are recognized. Our estimate of the provision for sales returns has been established based on contract terms with our customers and historical business practices and current trends. Shipping and handling costs charged to customers are included in net sales.
Cost of Sales: Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of sales also includes the cost to distribute products to customers, inbound freight costs, warehousing costs and other shipping and handling activity.
Research, Development and Engineering Expenses: Research, development and engineering costs are charged to expense as incurred. Costs include research, development and engineering activities relating to the development of new products, improvement of existing products, technical support of products and compliance with governmental regulations for the protection of customers and patients. Costs primarily consist of salaries, wages, consulting and depreciation and maintenance of research facilities and equipment.
Selling, General and Administrative Expenses: Selling, general and administrative expense is primarily comprised of selling expenses, marketing expenses, administrative and other indirect overhead costs, amortization of loaner instrumentation, depreciation and amortization expense of non-manufacturing assets and other miscellaneous operating items.
Currency Translation: Financial statements of subsidiaries outside the United States generally are measured using the local currency as the functional currency. Adjustments to translate those statements into United States Dollars are recorded in other comprehensive income (OCI). Transactional exchange gains and losses are included in other income (expense), net.
Cash Equivalents: Highly liquid investments with remaining stated maturities of three months or less when purchased or other money market instruments that are redeemable upon demand are considered cash equivalents and recorded at cost.
Marketable Securities: Marketable securities consist of marketable debt securities, certificates of deposit and mutual funds. Mutual funds are acquired to offset changes in certain liabilities related to deferred compensation arrangements and are expected to be used to settle these liabilities and are recognized in other noncurrent assets. Pursuant to our investment policy, all individual marketable security investments must have a minimum credit quality of single A (Standard & Poor’s and Fitch) and A2 (Moody’s Corporation) at the time of acquisition, while the overall portfolio of marketable securities must maintain a minimum average credit quality of double A (Standard & Poor’s and Fitch) or Aa (Moody’s Corporation). In the event of a rating downgrade below the minimum credit quality subsequent to purchase, the marketable security investment is evaluated to determine the appropriate action to take to minimize the overall risk to our marketable security investment portfolio. Our marketable securities are classified as available-for-sale and trading securities. Investments in trading securities represent participant-directed investments of deferred employee compensation.
Accounts Receivable: Accounts receivable consists of trade and other miscellaneous receivables. An allowance is maintained for doubtful accounts for estimated losses in the collection of accounts receivable. Estimates are made regarding the ability of customers to make required payments based on historical credit experience, current market conditions and expected credit losses. Accounts receivable are written off when all reasonable collection efforts are exhausted.
Inventories: Inventories are stated at the lower of cost or net realizable value, with cost generally determined using the first-in, first-out (FIFO) cost method. For excess and obsolete inventory
resulting from the potential inability to sell specific products at prices in excess of current carrying costs, reserves are maintained to reduce current carrying cost to net realizable value.
Financial Instruments: Our financial instruments consist of cash, cash equivalents, marketable securities, accounts receivable, other investments, accounts payable, debt and foreign currency exchange contracts. The carrying value of our financial instruments, with the exception of our senior unsecured notes, approximates fair value on December 31, 2023 and 2022. Refer to Notes 3 and 10 for further details.
All marketable securities are recognized at fair value. Adjustments to the fair value of marketable securities that are classified as available-for-sale are recognized as increases or decreases, net of income taxes, within accumulated other comprehensive income (AOCI) in shareholders’ equity and adjustments to the fair value of marketable securities that are classified as trading are recognized in earnings. The amortized cost of marketable debt securities is adjusted for amortization of premiums and discounts to maturity computed under the effective interest method. Such amortization and interest and realized gains and losses are included in other income (expense), net. The cost of securities sold is determined by the specific identification method.
We review declines in the fair value of our investments classified as available-for-sale to determine whether the decline in fair value is a result of credit loss or other factors. Impairments of available-for-sale marketable debt securities related to credit loss are included in earnings and impairments related to other factors are recognized within AOCI.
Derivatives: All derivatives are recognized at fair value and reported on a gross basis. We enter into forward currency exchange contracts to mitigate the impact of currency fluctuations on transactions denominated in nonfunctional currencies, thereby limiting our risk that would otherwise result from changes in exchange rates. The periods of the forward currency exchange contracts correspond to the periods of the exposed transactions, with realized gains and losses included in the measurement and recording of transactions denominated in the nonfunctional currencies. All forward currency exchange contracts are recorded at their fair value each period.
Forward currency exchange contracts designated as cash flow hedges are designed to hedge the variability of cash flows associated with forecasted transactions denominated in a foreign currency that will take place in the future. These nonfunctional currency exposures principally relate to forecasted intercompany sales and purchases of manufactured products and generally have maturities up to eighteen months. Changes in value of derivatives designated as cash flow hedges are recorded in AOCI on the Consolidated Balance Sheets until earnings are affected by the variability of the underlying cash flows. At that time, the applicable amount of gain or loss from the derivative instrument that is deferred in shareholders’ equity is reclassified into earnings and is included in cost of goods sold in the Consolidated Statements of Earnings. Cash flows associated with these hedges are included in cash from operations in the same category as the cash flows from the items being hedged.
Forward currency exchange contracts are used to offset our exposure to the change in value of specific foreign currency denominated assets and liabilities, primarily intercompany payables and receivables. These derivatives are not designated as hedges and, therefore, changes in the value of these forward contracts are recognized in earnings, thereby offsetting the current earnings effect of the related changes in value of foreign
currency denominated assets and liabilities. The estimated fair value of our forward currency exchange contracts represents the measurement of the contracts at month-end spot rates as adjusted by current forward points.
From time to time, we designate derivative and non-derivative financial instruments as net investment hedges of our investments in certain international subsidiaries. For derivative instruments that are designated and qualify as a net investment hedge, the effective portion of the derivative's gain or loss is recognized in OCI and reported as a component of AOCI. We have elected to use the spot method to assess effectiveness for our derivatives designated as net investment hedges. Accordingly, the change in fair value attributable to changes in the spot rate is recorded in AOCI. We exclude the spot-forward difference from the assessment of hedge effectiveness and amortize this amount separately on a straight-line basis over the term of the forward contracts. This amortization is recognized in other income (expense), net.
From time to time, we designate forward starting interest rate derivative instruments as cash flow hedges to manage the exposure to interest rate volatility with regard to future issuance and refinancing of debt. Changes in value of derivatives designated as cash flow hedges are recorded in AOCI on the Consolidated Balance Sheets until earnings are affected by the variability of the underlying cash flows. At that time, the applicable amount of gain or loss from the derivative instrument that is deferred in shareholders’ equity is reclassified into earnings and is included in interest expense within other income (expense), net in the Consolidated Statements of Earnings.
Interest rate derivative instruments designated as fair value hedges have been used in the past to manage the exposure to interest rate movements and to reduce borrowing costs by converting fixed-rate debt into floating-rate debt. Under these agreements, we agree to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount.
Property, Plant and Equipment: Property, plant and equipment is stated at cost. Depreciation is generally computed by the straight-line method over the estimated useful lives of three to 30 years for buildings and improvements and three to 15 years for machinery and equipment.
Goodwill and Other Intangible Assets: Goodwill represents the excess of purchase price over fair value of tangible net assets of acquired businesses at the acquisition date, after amounts allocated to other identifiable intangible assets. Factors that contribute to the recognition of goodwill include synergies that are specific to our business and not available to other market participants and are expected to increase net sales and profits; acquisition of a talented workforce; cost savings opportunities; the strategic benefit of expanding our presence in core and adjacent markets; and diversifying our product portfolio.
The fair values of other identifiable intangible assets acquired in a business combination are primarily determined using the income approach. Other intangible assets include, but are not limited to, developed technology, customer and distributor relationships (which reflect expected continued customer or distributor patronage) and trademarks and patents. Intangible assets with determinable useful lives are amortized on a straight-line basis over their estimated useful lives of four to 40 years. Certain acquired trade names are considered to have indefinite lives and are not amortized, but are assessed annually for potential impairment as described below.
In some of our acquisitions, we acquire in-process research and development (IPRD) intangible assets. For acquisitions accounted for as business combinations IPRD is considered to be an indefinite-lived intangible asset until the research is completed (then it becomes a determinable-lived intangible asset) or determined to have no future use (then it is impaired). For asset acquisitions IPRD is expensed immediately unless there is an alternative future use.
Goodwill, Intangibles and Long-Lived Asset Impairment Tests: We perform our annual impairment test for goodwill as of October 31 each year. We consider qualitative indicators of the fair value of a reporting unit when it is unlikely that a reporting unit has impaired goodwill and periodically corroborate that assessment with quantitative information. In certain circumstances, we may also utilize a discounted cash flow analysis that requires certain assumptions and estimates be made regarding market conditions and our future profitability. Indefinite-lived intangible assets are also tested at least annually for impairment by comparing the individual carrying values to the fair value.
We review long-lived assets for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows. Undiscounted cash flows expected to be generated by the related assets are estimated over the asset's useful life based on updated projections. If the evaluation indicates that the carrying amount of the asset may not be recoverable, any potential impairment is measured based upon the fair value of the related asset or asset group as determined by an appropriate market appraisal or other valuation technique. Assets classified as held for sale are recorded at the lower of carrying amount or fair value less costs to sell.
Share-Based Compensation: Share-based compensation is in the form of stock options, restricted stock units (RSUs) and performance stock units (PSUs). Stock options are granted under long-term incentive plans to certain key employees and non-employee directors at an exercise price not less than the fair market value of the underlying common stock, which is the quoted closing price of our common stock on the day prior to the date of grant. The options are granted for periods of up to 10 years and become exercisable in varying installments.
We grant RSUs to key employees and non-employee directors and PSUs to certain key employees under our long-term incentive plans. The fair value of RSUs is determined based on the number of shares granted and the quoted closing price of our common stock on the date of grant, adjusted for the fact that RSUs do not include anticipated dividends. RSUs generally vest in one-third increments over a three-year period and are settled in stock. PSUs are earned over a three-year performance cycle and vest in March of the year following the end of that performance cycle. The number of PSUs that will ultimately be earned is based on our performance relative to pre-established goals in that three-year performance cycle. The fair value of PSUs is determined based on the quoted closing price of our common stock on the day of grant.
Compensation expense is recognized in the Consolidated Statements of Earnings based on the estimated fair value of the awards on the grant date. Compensation expense recognized reflects an estimate of the number of awards expected to vest after taking into consideration an estimate of award forfeitures based on actual experience and is recognized on a straight-line basis over the requisite service period, which is generally the
period required to obtain full vesting. Management expectations related to the achievement of performance goals associated with PSU grants is assessed regularly and that assessment is used to determine whether PSU grants are expected to vest. If performance-based milestones related to PSU grants are not met or not expected to be met, any compensation expense recognized associated with such grants will be reversed.
Income Taxes: Deferred income tax assets and liabilities are determined based on differences between financial reporting and income tax bases of assets and liabilities and are measured using the enacted income tax rates in effect for the years in which the differences are expected to reverse. Deferred income tax benefits generally represent the change in net deferred income tax assets and liabilities in the year. Other amounts result from adjustments related to acquisitions and foreign currency as appropriate.
We operate in multiple income tax jurisdictions both within the United States and internationally. Accordingly, management must determine the appropriate allocation of income to each of these jurisdictions based on current interpretations of complex income tax regulations. Income tax authorities in these jurisdictions regularly perform audits of our income tax filings. Income tax audits associated with the allocation of this income and other complex issues, including inventory transfer pricing and cost sharing, product royalty and foreign branch arrangements, may require an extended period of time to resolve and may result in significant income tax adjustments if changes to the income allocation are required between jurisdictions with different income tax rates.
New Accounting Pronouncements Not Yet Adopted
In December 2023 the Financial Accounting Standards Board (FASB) issued ASU 2023-09 (Topic 740): Income Taxes: Improvements to Income Tax Disclosures which expands the existing rules on income tax disclosures. This update requires entities to disclose specific categories in the tax rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold and disclose additional information about income taxes paid on an annual basis. The new disclosure requirements are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating these new expanded disclosure requirements.
In November 2023 the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which expands disclosure requirements to require entities to disclose significant segment expenses that are regularly provided to or easily computed from information regularly provided to the chief operating decision maker. This update also requires all annual disclosures currently required by Topic 280 to be disclosed in interim periods. The new disclosure requirements are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating these new expanded disclosure requirements.
Accounting Pronouncements Recently Adopted
In September 2022 the FASB issued ASU 2022-04, Liabilities - Supplier Finance Programs: Disclosure of Supplier Finance Program Obligations, which requires entities that utilize supplier finance programs in connection with the purchase of goods and services to disclose information about the key terms of the programs, a rollforward of the obligations under the programs and where those obligations are presented in the balance sheet. The disclosure requirements are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the requirement for rollforward information which is effective for fiscal years beginning after December 15, 2023. We participate in a supplier financing program that enables our suppliers, at their sole discretion, to sell their Stryker receivables to a financial institution on a non-recourse basis in order to be paid earlier than our payment terms provide. As of December 31, 2023 our obligations under this program are not material.
v3.24.0.1
Revenue Recognition
 12 Months Ended
Dec. 31, 2023
Revenue Recognition [Abstract]  
Revenue Recognition REVENUE RECOGNITION
We disaggregate our net sales by product line and geographic location for each of our segments as we believe it best depicts how the nature, amount, timing and certainty of our net sales and cash flows are affected by economic factors.
Products and services are primarily transferred to customers at a point in time, with some transfers of services taking place over time. In 2023 less than 10% of our sales were recognized as services transferred over time. Refer to Note 1 for further discussion on our revenue recognition policies.
Beginning in the first quarter 2023 we consolidated Other MedSurg and Neurotechnology into Endoscopy as Other MedSurg and Neurotechnology (primarily Sustainability Solutions) has been fully integrated into our Endoscopy business. Endoscopy includes sales related to Other of $343, $302 and $277 for 2023, 2022 and 2021. We have reflected these changes in all historical periods presented.
Segment Net Sales
MedSurg and Neurotechnology:202320222021
Instruments$2,569 $2,279 $2,111 
Endoscopy3,033 2,725 2,418 
Medical3,459 3,031 2,607 
Neurovascular1,226 1,200 1,188 
Neuro Cranial1,549 1,376 1,214 
$11,836 $10,611 $9,538 
Orthopaedics and Spine:
Knees$2,273 $1,997 $1,848 
Hips1,544 1,413 1,342 
Trauma and Extremities3,147 2,807 2,664 
Spine1,189 1,146 1,167 
Other509 475 549 
$8,662 $7,838 $7,570 
Total$20,498 $18,449 $17,108 
United States Net Sales
MedSurg and Neurotechnology:202320222021
Instruments$2,051 $1,810 $1,637 
Endoscopy2,478 2,211 1,943 
Medical2,785 2,422 2,007 
Neurovascular483 446 451 
Neuro Cranial1,270 1,135 988 
$9,067 $8,024 $7,026 
Orthopaedics and Spine:
Knees$1,676 $1,493 $1,351 
Hips988 896 822 
Trauma and Extremities2,297 2,035 1,866 
Spine883 836 831 
Other346 354 425 
$6,190 $5,614 $5,295 
Total$15,257 $13,638 $12,321 
International Net Sales
MedSurg and Neurotechnology:202320222021
Instruments$518 $469 $474 
Endoscopy555 514 475 
Medical674 609 600 
Neurovascular743 754 737 
Neuro Cranial279 241 226 
$2,769 $2,587 $2,512 
Orthopaedics and Spine:
Knees$597 $504 $497 
Hips556 517 520 
Trauma and Extremities850 772 798 
Spine306 310 336 
Other163 121 124 
$2,472 $2,224 $2,275 
Total$5,241 $4,811 $4,787 
MedSurg and Neurotechnology
MedSurg and Neurotechnology products include surgical equipment and navigation systems (Instruments), endoscopic and communications systems (Endoscopy), patient handling, emergency medical equipment, intensive care disposable products and clinical communication and workflow solutions (Medical), minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke (Neurovascular), a comprehensive line of products for traditional brain and open skull based surgical procedures; orthobiologic and biosurgery products, including synthetic bone grafts and vertebral augmentation products (Neuro Cranial). Substantially all MedSurg and Neurotechnology sales are recognized when a purchase order has been received and control has transferred. For certain Endoscopy, Instruments and Medical services, we may recognize sales over time as we satisfy performance obligations that may include an obligation to complete installation, provide training and perform ongoing services, generally performed within one year.
Orthopaedics and Spine
Orthopaedics and Spine products consist primarily of implants used in hip and knee joint replacements and trauma and extremity surgeries, and cervical, thoracolumbar and interbody systems used in spinal injury, deformity and degenerative therapies. Substantially all Orthopaedics sales are recognized when we have received a purchase order and appropriate notification the product has been used or implanted. Substantially all Spine sales are recognized when a purchase order has been received and control has transferred. For certain Orthopaedic products in the "other" category, we recognize sales at a point in time, as well as over time for performance obligations that may include an obligation to complete installation and provide training and ongoing services. Performance obligations are generally satisfied within one year.
Contract Assets and Liabilities
The nature of our products and services do not generally give rise to contract assets as we typically do not incur costs to fulfill a contract before a product or service is provided to a customer. Our costs to obtain contracts are typically in the form of sales commissions paid to employees or third-party agents. Certain sales commissions paid to employees prior to recognition of sales are recorded as contract assets. We expense sales commissions associated with obtaining a contract at the time of the sale or as incurred as the amortization period is generally less than one year. These costs have been presented within selling, general and administrative expenses. On December 31, 2023 contract assets recorded in our Consolidated Balance Sheets were not significant.
Our contract liabilities arise as a result of consideration received from customers at inception of contracts for certain businesses or where the timing of billing for services precedes satisfaction of our performance obligations. This occurs primarily when payment is received upfront for certain multi-period extended warranty service contracts. Our contract liabilities of $860 and $741 on December 31, 2023 and 2022 are classified within accrued expenses and other liabilities and other noncurrent liabilities within our Consolidated Balance Sheets based on the timing of when we expect to complete our performance obligations. Changes in contract liabilities during the year were as follows:
2023
Beginning contract liabilities$741 
Revenue recognized from beginning of year contract liabilities(379)
Net advance consideration received during the period498 
Ending contract liabilities$860 
v3.24.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities carried at fair value are classified in their entirety based on the lowest level of input and disclosed in one of the following three categories:
Level 1Quoted market prices in active markets for identical assets or liabilities.
Level 2Observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3Unobservable inputs reflecting our assumptions or external inputs from active markets.
Use of observable market data, when available, is required in making fair value measurements. When inputs used fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. We determine fair value for Level 1 instruments using exchange-traded prices for identical instruments. We determine fair value of Level 2 instruments using exchange-traded prices of similar instruments, where available, or utilizing other observable inputs that take into account our credit risk and that of our counterparties. Foreign currency exchange contracts and interest rate hedges, when outstanding, are included in Level 2 and are primarily valued using standard calculations and models that use readily observable market data as their basis. Our Level 3 liabilities are comprised of contingent consideration arising from recently completed acquisitions. We determine fair value of these Level 3 liabilities using a discounted cash flow technique. Significant unobservable inputs were used in our assessment of fair value, including assumptions regarding future business results, discount rates, discount periods and probability assessments based on the likelihood of reaching various targets.
We remeasure the fair value of our assets and liabilities each reporting period. We record the changes in fair value within selling, general and administrative expense.
In 2022 we determined that certain commercial and regulatory milestones related to technology acquired in the purchase of Mobius Imaging and Cardan Robotics were no longer probable of being achieved and recorded a $110 reduction in the fair value of contingent consideration reflected in selling, general and administrative expenses.
In the second quarter 2023 we recorded $192 of contingent consideration related to the acquisition of Cerus described in Note 6.
There were no significant transfers into or out of any level of the fair value hierarchy in 2023.
Assets Measured at Fair Value
20232022
Cash and cash equivalents$2,971 $1,844 
Trading marketable securities209 166 
Level 1 - Assets$3,180 $2,010 
Available-for-sale marketable securities:
Corporate and asset-backed debt securities$43 $42 
Foreign government debt securities— 1 
United States agency debt securities4 3 
United States treasury debt securities31 36 
Certificates of deposit4 2 
Total available-for-sale marketable securities$82 $84 
Foreign currency exchange forward contracts116 119 
Level 2 - Assets$198 $203 
Total assets measured at fair value$3,378 $2,213 
Liabilities Measured at Fair Value
20232022
Deferred compensation arrangements$209 $166 
Level 1 - Liabilities$209 $166 
Foreign currency exchange forward contracts$97 $102 
Level 2 - Liabilities$97 $102 
Contingent consideration:
Beginning$121 $306 
Additions192 1 
Change in estimate and foreign exchange(2)(137)
Settlements(22)(49)
Ending$289 $121 
Level 3 - Liabilities$289 $121 
Total liabilities measured at fair value$595 $389 
Fair Value of Available for Sale Securities by Maturity
20232022
Due in one year or less$46 $53 
Due after one year through three years$36 $31 
On December 31, 2023 the aggregate difference between the cost and fair value of available-for-sale marketable securities was nominal. Interest income on cash and cash equivalents, short-term investments and marketable securities income was $75, $25 and $15 in 2023, 2022 and 2021, which was recorded in other income (expense), net.
Our investments in available-for-sale marketable securities had a minimum credit quality rating of A2 (Moody's), A (Standard & Poor's) and A (Fitch). We do not plan to sell the investments, and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost basis, which may be maturity.
v3.24.0.1
Derivative Instruments
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments DERIVATIVE INSTRUMENTS
We use operational and economic hedges, foreign currency exchange forward contracts, net investment hedges (both derivative and non-derivative financial instruments) and interest rate derivative instruments to manage the impact of currency exchange and interest rate fluctuations on earnings, cash flow and equity. We do not enter into derivative instruments for speculative purposes. We are exposed to potential credit loss in the event of nonperformance by counterparties on our outstanding derivative instruments but do not anticipate nonperformance by any of our counterparties. Should a counterparty default, our maximum loss exposure is the asset balance of the instrument.
Foreign Currency Hedges
2023Cash FlowNet InvestmentNon-DesignatedTotal
Gross notional amount$1,650 $1,662 $4,315 $7,627 
Maximum term in years2.9
Fair value:
Other current assets$24 $74 $16 $114 
Other noncurrent assets2 — — 2 
Other current liabilities(16)— (36)(52)
Other noncurrent liabilities(2)(43)— (45)
Total fair value$8 $31 $(20)$19 
2022
Gross notional amount$1,053 $1,598 $3,417 $6,068 
Maximum term in years3.9
Fair value:
Other current assets$20 $— $9 $29 
Other noncurrent assets1 89 — 90 
Other current liabilities(6)— (79)(85)
Other noncurrent liabilities(1)(16)— (17)
Total fair value$14 $73 $(70)$17 
We had €1.5 billion at December 31, 2023 and 2022 in certain forward currency contracts designated as net investment hedges to hedge a portion of our investments in certain of our entities with functional currencies denominated in Euros. In addition to these derivative financial instruments designated as net investment hedges, we had €4.9 billion and €4.4 billion at December 31, 2023 and 2022 of senior unsecured notes designated as net investment hedges to selectively hedge portions of our investment in certain international subsidiaries. The increase in 2023 was due to the designation of €1.1 billion of senior unsecured notes issued in August and December as net investment hedges partially offset by the November maturity of €550 of notes previously designated as a net investment hedge. See Note 10 for information on debt issuances and maturities. The currency effects of our Euro-denominated senior unsecured notes are reflected in AOCI within shareholders' equity where they offset gains and losses recorded on our net investment in international subsidiaries.
In 2022 we settled certain foreign currency forward contracts designated as net investment hedges resulting in cash proceeds of $197. The amounts in AOCI related to settled net investment hedges will remain in AOCI until the hedged investment is either sold or substantially liquidated.
The total after-tax gain (loss) recognized in OCI related to designated net investment hedges was ($215) in 2023.
Currency Exchange Rate Gains (Losses) Recognized in Net Earnings
Derivative InstrumentRecognized in:202320222021
Cash FlowCost of sales$39 $23 $(12)
Net InvestmentOther income (expense), net34 39 35 
Non-DesignatedOther income (expense), net25 30 8 
Total$98 $92 $31 
Pretax gains (losses) on derivatives designated as cash flow hedges of $26 and net investment hedges of $27 recorded in AOCI are expected to be reclassified to cost of sales and other income (expense), net in earnings within 12 months as of December 31, 2023. This cash flow hedge reclassification is primarily due to the sale of inventory that includes previously hedged purchases. A component of the AOCI amounts related to net investment hedges is reclassified over the life of the hedge instruments as we elected to exclude the initial value of the component related to the spot-forward difference from the effectiveness assessment.
Interest Rate Hedges
In conjunction with our offerings of senior unsecured notes in December 2023 we settled certain forward starting interest rate swap contracts with gross notional amounts of $200 that were designated as cash flow hedges. Pretax gains of $4 recorded in AOCI related to interest rate hedges closed in conjunction with debt issuances are expected to be reclassified to other income (expense), net in earnings within 12 months of December 31, 2023. The cash flow effect of interest rate hedges is recorded in cash flow from operations.
v3.24.0.1
Accumulated Other Comprehensive (Loss) Income (AOCI)
 12 Months Ended
Dec. 31, 2023
Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) [Abstract]  
Accumulated Other Comprehensive (Loss) Income (AOCI) ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (AOCI)
Marketable SecuritiesPension PlansHedgesFinancial Statement TranslationTotal
2021$— $(155)$40 $(416)$(531)
OCI(1)244 43 253 539 
Income taxes— (64)1 (110)(173)
Reclassifications to:
Cost of sales— — (23)— (23)
Other (income) expense, net— 8 (5)(39)(36)
Income taxes— (2)(4)9 3 
Net OCI$(1)$186 $12 $113 $310 
2022$(1)$31 $52 $(303)$(221)
OCI1 (67)27 (157)(196)
Income taxes— 12 (5)59 66 
Reclassifications to:
Cost of sales— — (39)— (39)
Other (income) expense, net— (5)(5)(34)(44)
Income taxes— 1 9 8 18 
Net OCI$1 $(59)$(13)$(124)$(195)
2023$— $(28)$39 $(427)$(416)
v3.24.0.1
Acquisitions
 12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
Acquisitions ACQUISITIONS
We acquire stock in companies and various assets that continue to support our capital deployment and product development strategies. Cash paid for acquisitions, net of cash acquired was $390 and $2,563 in 2023 and 2022.
On May 2, 2023 we acquired Cerus for net cash consideration of $289 and up to $225 in future milestone payments that had a fair value of $192 at the acquisition date. Cerus designs, develops and manufactures neurovascular products used for the treatment of hemorrhagic stroke. Cerus is part of our Neurovascular business within MedSurg and Neurotechnology. Goodwill attributable to the acquisition is not deductible for tax purposes.
In February 2022 we completed the acquisition of Vocera for $79.25 per share, or an aggregate purchase price of $2.6 billion, net of cash acquired ($3.0 billion including convertible notes). Vocera is a leader in the digital care coordination and communication category. Vocera is part of our Medical business within MedSurg and Neurotechnology. Goodwill attributable to the acquisition reflects the strategic benefits of expanding our presence in adjacent markets, diversifying our product portfolio, advancing innovations and accelerating our digital aspirations. This goodwill is not deductible for tax purposes.
During 2022 note holders elected to redeem the 1.50% and 0.50% convertible notes assumed in the Vocera acquisition for $101 and $324. These repayments are classified as financing activities in the Consolidated Statements of Cash Flows.
Share-based awards for Vocera employees vested upon our acquisition and a charge of $132 was recorded in selling, general and administrative expenses in 2022.
Purchase price allocations for our significant acquisitions are:
Purchase Price Allocation of Acquired Net Assets
20232022
CerusVocera
Tangible assets acquired:
Accounts receivable$1 $33 
Inventory2 13 
Deferred income tax assets2 91 
Other assets1 92 
Debt— (425)
Deferred income tax liabilities(60)(193)
Other liabilities(22)(117)
Intangible assets:
Customer and distributor relationships— 603 
Developed technology240 175 
Trade name— 18 
Goodwill317 2,273 
Purchase price, net of cash acquired of $7 and $281
$481 $2,563 
Weighted-average amortization period at acquisition (years):
Developed technologies136
Customer relationships— 15
Trademarks— 9
The purchase price allocation for Cerus is based on preliminary valuations, primarily related to developed technology and deferred income taxes. Our estimates and assumptions are subject to change within the measurement period. The purchase price allocation for Vocera was finalized in the first quarter 2023 without material adjustments.
v3.24.0.1
Contingencies and Commitments
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Contingencies and Commitments CONTINGENCIES AND COMMITMENTS
We are involved in various ongoing proceedings, legal actions and claims arising in the normal course of business, including proceedings related to product, labor, intellectual property and other matters, the most significant of which are more fully described below. The outcomes of these matters will generally not be known for prolonged periods of time. In certain of the legal proceedings the claimants seek damages as well as other compensatory and equitable relief that could result in the payment of significant claims and settlements and/or the imposition of injunctions or other equitable relief. For legal matters for which management had sufficient information to reasonably estimate our future obligations, a liability representing management's best estimate of the probable loss, or the minimum of the range of probable losses when a best estimate within the range is not known, is recorded. The estimates are based on consultation with legal counsel, previous settlement experience and settlement strategies. If actual outcomes are less
favorable than those estimated by management, additional expense may be incurred, which could unfavorably affect future operating results. We are self-insured for certain claims and expenses. The ultimate cost to us with respect to product liability claims could be materially different than the amount of the current estimates and accruals and could have a material adverse effect on our financial position, results of operations and cash flows.
In April 2022 the United States District Court for the District of Delaware issued a judgment following a jury verdict in favor of PureWick Corporation (PureWick) for its 2019 complaint seeking patent infringement damages related to our PrimaFit and PrimoFit products. We recorded charges of $28 in March 2022 accordingly. Stryker is appealing the results of the trial. In June 2022 PureWick filed a motion to enhance the damages awarded, which the court denied in March 2023. In 2022 PureWick also filed a separate complaint seeking additional patent infringement damages, damages enhancement and an injunction related to another version of our PrimaFit products. A trial for this matter is currently set for February 2024. PureWick may seek to recover its legal fees if it is ultimately successful in either matter.
We are currently investigating whether certain business activities in certain foreign countries violated provisions of the FCPA and have engaged outside counsel to conduct these investigations. We have been contacted by the United States Securities and Exchange Commission, United States Department of Justice and certain other regulatory authorities and are cooperating with these agencies. At this time we are unable to predict the outcome of the investigations or the potential impact, if any, on our financial statements.
We have conducted voluntary recalls of certain products, including our Rejuvenate and ABG II Modular-Neck hip stems and certain lot-specific sizes and offsets of LFIT Anatomic CoCr V40 Femoral Heads. Additionally, we are responsible for certain product liability claims, primarily related to certain hip products sold by Wright prior to its 2014 divestiture of the OrthoRecon business.
We have incurred, and expect to incur in the future, costs associated with the defense and settlement of claims and lawsuits. Based on the information that has been received related to the matters discussed above, we recorded charges of $85 in 2023, and our accrual for these matters was $292 at December 31, 2023, representing our best estimate of probable loss. The final outcomes of these matters are dependent on many factors that are difficult to predict. Accordingly the ultimate cost related to these matters may be materially different than the amount of our current estimate and accruals and could have a material adverse effect on our results of operations and cash flows.
Leases
We lease various manufacturing, warehousing and distribution facilities, administrative and sales offices as well as equipment under operating leases. We evaluate our contracts to identify leases, which is generally if there is an identified asset and we have the right to direct the use of and obtain substantially all of the economic benefit from the use of the identified asset. Certain of our lease agreements contain rent escalation clauses (including index-based escalations), rent holidays, capital improvement funding or other lease incentives. We recognize our minimum rental expense on a straight-line basis over the term of the lease beginning with the date of initial control of the asset. Right-of-use assets are recorded in Other noncurrent assets on our Consolidated Balance Sheets. Current and noncurrent lease liabilities are recorded in Accrued expenses and other liabilities and Other noncurrent liabilities, respectively.
We have made certain significant assumptions and judgments when recording leases. For all asset classes, we do not recognize a right-of-use asset and lease liability for short-term leases. We also do not separate non-lease components from lease components to which they relate and account for the combined lease and non-lease components as a single lease component. The determination of the discount rate used in a lease is our incremental borrowing rate which is based on what we would normally pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments.
20232022
Right-of-use assets $494 $473 
Lease liabilities, current $143 $121 
Lease liabilities, noncurrent $356 $357 
Other information:
Weighted-average remaining lease term (years)5.55.5
Weighted-average discount rate3.87 %3.22 %
Operating lease expense totaled $172, $149, and $133 in 2023, 2022 and 2021.
Future Obligations
We have purchase commitments for materials, supplies, services and property, plant and equipment as part of the normal course of business. In addition, we lease various manufacturing, warehousing and distribution facilities, administrative and sales offices as well as equipment under operating leases. Refer to Note 10 for more information on the debt obligations.
20242025202620272028Thereafter
Debt repayments$2,097 $1,400 $1,000 $831 $2,751 $5,001 
Purchase obligations$2,349 $213 $83 $65 $20 $20 
Minimum lease payments$150 $108 $87 $56 $41 $78 
v3.24.0.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS
In our annual impairment tests of goodwill as of October 31, 2023 and 2022, we performed a quantitative assessment of the Spine reporting unit using a discounted cash flow analysis to estimate the fair value. Significant inputs to the analysis included assumptions for future revenue growth and operating margin. The analysis also included a rate to discount the estimated future cash flow projections to their present value, based on the reporting unit’s estimated weighted average cost of capital.
In 2022, the carrying value of the Spine reporting unit exceeded its fair value and a charge of $216 was recognized in the Goodwill impairment line in the Consolidated Statements of Earnings. The impairment charge for the Spine reporting unit was primarily driven by the slower than anticipated recovery of surgery volumes as we emerged from the COVID-19 pandemic, the competitive pressures in the spine market and rising interest rates in the macroeconomic environment at that time. Due to the goodwill impairment charge in 2022, for our annual impairment test in 2023 we also elected to perform a quantitative assessment. As a result of that assessment we concluded that goodwill of the Spine reporting unit was not impaired in 2023 as its fair value exceeded its carrying value. Goodwill attributable to the Spine reporting unit as of December 31, 2023 was $1,034.
For our other reporting units, we considered qualitative indicators of impairment as it was considered more likely than not that the fair values of those reporting units exceeded their respective carrying values. No impairment was identified for those reporting units in 2023 or 2022.
Future changes in the judgments, assumptions and estimates that are used in our impairment testing for goodwill, including discount and tax rates and future cash flow projections, could result in significantly different estimates of the fair values. A
significant reduction in the estimated fair values could result in impairment charges that could materially affect our results of operations.
Changes in the Net Carrying Value of Goodwill by Segment
MedSurg and NeurotechnologyOrthopaedics and SpineTotal
2021$5,669 $7,249 $12,918 
Goodwill impairment— (216)(216)
Additions and adjustments2,320 — 2,320 
Foreign exchange and other(54)(88)(142)
2022$7,935 $6,945 $14,880 
Additions and adjustments301 — 301 
Foreign exchange and other34 28 62 
2023$8,270 $6,973 $15,243 
Summary of Other Intangible Assets
Gross
Carrying
Amount		Less
Accumulated
Amortization		Net
Carrying
Amount
Developed technologies
2023$5,769 $2,815 $2,954 
20225,440 2,363 3,077 
Customer relationships
2023$2,907 $1,504 $1,403 
20222,847 1,322 1,525 
Patents
2023$329 $302 $27 
2022343 297 46 
Trademarks
2023$427 $246 $181 
2022425 220 205 
In-process research and development
2023$21 $— $21 
202221 — 21 
Other
2023$96 $89 $7 
2022105 94 11 
Total
2023$9,549 $4,956 $4,593 
20229,181 4,296 4,885 
Estimated Amortization Expense
20242025202620272028
$622 $587 $530 $510 $462 
v3.24.0.1
Capital Stock
 12 Months Ended
Dec. 31, 2023
Capital Stock [Abstract]  
Capital Stock CAPITAL STOCK
The aggregate number of shares of all classes of stock which we are authorized to issue is up to 1,000,500,000, divided into two classes consisting of 500,000 shares of $1 par value preferred stock and 1,000,000,000 shares of common stock with a par value of $0.10. No shares of preferred stock were outstanding on December 31, 2023.
We made no repurchases of shares in 2023. The manner, timing and amount of repurchases are determined by management based on an evaluation of market conditions, stock price and other factors and are subject to regulatory considerations. Purchases are made from time-to-time in the open market, in privately negotiated transactions or otherwise. On December 31, 2023 the total dollar value of shares that could be purchased under our authorized repurchase program was $1,033.
Shares reserved for future compensation grants of our common stock were 20 million and 23 million on December 31, 2023 and 2022.
Stock Options
We measure the cost of employee stock options based on the grant-date fair value and recognize that cost using the straight-line method over the period in which a recipient is required to
provide services in exchange for the options, typically the vesting period. The weighted-average fair value per share of options is estimated on the date of grant using the Black-Scholes option pricing model.
Option Value and Assumptions
202320222021
Weighted-average fair value per share$83.59 $68.08 $53.35 
Assumptions:
Risk-free interest rate4.0 %1.8 %0.8 %
Expected dividend yield1.2 %1.0 %1.2 %
Expected stock price volatility29.0 %27.0 %26.9 %
Expected option life (years)6.25.95.9
The risk-free interest rate for periods within the expected life of options granted is based on the United States Treasury yield curve in effect at the time of grant. Expected stock price volatility is based on the historical volatility of our stock. The expected option life, representing the period of time that options granted are expected to be outstanding, is based on historical option exercise and employee termination data.
2023 Stock Option Activity
Shares
(in millions)		Weighted-Average
Exercise Price		Weighted-Average
Remaining
Term (in years)		Aggregate
Intrinsic
 Value
Outstanding January 112.1 $168.80 
Granted1.6 268.28 
Exercised(2.0)117.64 
Canceled or forfeited(0.2)235.73 
Outstanding December 3111.5 $189.70 5.4$1,257.1 
Exercisable December 316.8 $153.01 3.1$1,001.1 
Options expected to vest4.3 $243.26 7.8$242.2 
The aggregate intrinsic value of options, which represents the cumulative difference between the fair market value of the underlying common stock and the option exercise prices, exercised was $318, $218 and $253 in 2023, 2022 and 2021. Exercise prices for options outstanding ranged from $77.75 to $287.14 on December 31, 2023. On December 31, 2023 there was $135 of unrecognized compensation cost related to nonvested stock options granted under the long-term incentive plans; that cost is expected to be recognized over the weighted-average period of approximately 1.6 years.
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) Activity
Shares
(in millions)		Weighted-Average
Grant Date Fair Value
RSUsPSUsRSUsPSUs
Nonvested on January 10.7 0.2 $232.02 $234.70 
Granted0.4 0.1 257.09 255.27 
Vested(0.3)(0.1)227.85 217.73 
Canceled or forfeited(0.1)— 244.09 217.73 
Nonvested on December 310.7 0.2 $246.98 $250.17 
On December 31, 2023 there was $81 of unrecognized compensation cost related to nonvested RSUs. That cost is expected to be recognized as expense over the weighted-average period of approximately one year. The weighted-average grant date fair value per share of RSUs granted was $257.09 and $239.76 in 2023 and 2022. The fair value of RSUs and PSUs vested in 2023 was $74 and $10. On December 31, 2023 there was $19 of unrecognized compensation cost related to nonvested PSUs; the cost is expected to be recognized as expense over the weighted-average period of approximately one year.
Employee Stock Purchase Plans (ESPP)
Employees may participate in our ESPP provided they meet certain eligibility requirements. The purchase price for our common stock under the terms of the ESPP is defined as 95% of the closing stock price on the last trading day of a purchase period. We issued 190,524 and 221,387 shares under the ESPP in 2023 and 2022.
v3.24.0.1
Debt and Credit Facilities
 12 Months Ended
Dec. 31, 2023
Long-Term Debt, Unclassified [Abstract]  
Debt And Credit Facilities DEBT AND CREDIT FACILITIES
We have lines of credit issued by various financial institutions that are available to fund our day-to-day operating needs. Certain of our credit facilities require us to comply with financial and other covenants. We were in compliance with all covenants on December 31, 2023.
In 2022 our Board of Directors approved an increase to the maximum amount of commercial paper that can be outstanding from $1,500 to $2,250.
On December 31, 2023 there were no borrowings outstanding under our credit facility or commercial paper program which allows for maturities up to 397 days from the date of issuance.
During 2023 we made payments of $850 to extinguish the remaining balance on the $1.5 billion term loan scheduled to mature on February 22, 2025.
In August 2023 we issued €500 of floating rate senior notes due November 16, 2024. The notes bear interest at a rate based on the three-month Euro Interbank Offered Rate (EURIBOR) plus 0.3%. The notes are callable at February 16, 2024, May 16, 2024 or October 16, 2024 either by us or at the option of the notes holders.
In November 2023 we repaid the outstanding €550 principal amount of 1.125% senior unsecured notes due November 30, 2023 and in December 2023 we repaid the outstanding $600 principal amount of 0.600% senior unsecured notes due December 1, 2023. We subsequently issued $600 of 4.850% senior unsecured notes due December 8, 2028 and €600 of 3.375% senior unsecured notes due December 11, 2028. The following table summarizes our total debt at December 31:
Summary of Total Debt
RateDue20232022
Senior unsecured notes:
1.125%November 30, 2023$— $585 
0.600%December 1, 2023— 599 
3.375%May 15, 2024600 596 
VariousNovember 16, 2024554 — 
0.250%December 3, 2024940 903 
1.150%June 15, 2025648 647 
3.375%November 1, 2025749 748 
3.500%March 15, 2026997 995 
2.125%November 30, 2027828 795 
3.650%March 7, 2028598 597 
4.850%December 8, 2028596 — 
3.375%December 11, 2028661 — 
0.750%March 1, 2029883 848 
1.950%June 15, 2030991 991 
2.625%November 30, 2030713 684 
1.000%December 3, 2031823 790 
4.100%April 1, 2043393 392 
4.375%May 15, 2044396 396 
4.625%March 15, 2046983 983 
2.900%June 15, 2050642 642 
Term loan— 850 
Other— 7 
Total debt$12,995 $13,048 
Less current maturities2,094 1,191 
Total long-term debt$10,901 $11,857 
Unamortized debt issuance costs$50 $52 
Borrowing capacity on existing facilities$2,160 $2,162 
Fair value of senior unsecured notes$12,252 $10,910 
The fair value of the senior unsecured notes was estimated using quoted interest rates, maturities and amounts of borrowings based on quoted active market prices and yields that took into account the underlying terms of the debt instruments. Substantially all of our debt is classified within Level 2 of the fair value hierarchy.
Interest expense on outstanding debt and credit facilities, including required fees incurred, that were included in other income (expense), net, totaled $356, $337, and $337 in 2023, 2022 and 2021.
v3.24.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Our effective tax rate was 13.8%, 12.1% and 12.6% for 2023, 2022 and 2021. The effective income tax rate for 2023 increased from 2022 due to the 2022 effective settlement of the United States federal income tax audit for years 2014 through 2018 and the 2022 reversal of deferred income tax on undistributed earnings of foreign subsidiaries partially offset by the 2023 tax effect related to transfers of intellectual property between tax jurisdictions. The effective income tax rate for 2022 decreased from 2021 due to the 2022 effective settlement of the United States federal income tax audit for years 2014 through 2018 and the 2022 reversal of deferred income tax on undistributed earnings of foreign subsidiaries. The effective income tax rates for 2023, 2022 and 2021 reflect the continued lower effective income tax rates as a result of our European operations, the tax effect related to the transfers of intellectual property between tax jurisdictions, the tax effect of future remittances of the undistributed earnings of foreign subsidiaries and certain discrete tax items.
Effective Income Tax Rate Reconciliation
202320222021
United States federal statutory rate21.0 %21.0 %21.0 %
United States state and local income taxes, less federal deduction1.1 2.0 2.7 
Foreign income tax at rates other than 21%(6.8)(4.1)(6.9)
Tax related to repatriation of foreign earnings1.2 (2.4)1.4 
Intellectual property transfers(3.3)0.1 (2.3)
United States federal audit settlement— (6.1)— 
Goodwill impairment— 1.7 — 
Other0.6 (0.1)(3.3)
Effective income tax rate13.8 %12.1 %12.6 %
Earnings Before Income Taxes 
202320222021
United States$701 $407 $433 
International2,972 2,276 1,848 
Total$3,673 $2,683 $2,281 
Components of Income Tax Expense (Benefit)
Current income tax expense (benefit):202320222021
United States federal$236 $(76)$155 
United States state and local48 64 97 
International430 279 272 
Total current income tax expense$714 $267 $524 
Deferred income tax expense (benefit):
United States federal$(212)$(179)$(82)
United States state and local(20)(30)(23)
International26 267 (132)
Total deferred income tax expense (benefit)$(206)$58 $(237)
Total income tax expense$508 $325 $287 
Interest and penalties included in other income (expense), net were expense of $1 in 2023, income of $71 in 2022 and expense of $23 in 2021. The United States federal deferred income tax expense (benefit) includes the utilization of net operating loss carryforwards of $189, $56 and $283 in 2023, 2022 and 2021.
Deferred Income Tax Assets and Liabilities
Deferred income tax assets:20232022
Inventories$521 $516 
Other accrued expenses253 155 
Depreciation and amortization918 1,038 
State income taxes150 153 
Share-based compensation86 73 
Research and development capitalization295 204 
International interest expense carryforwards46 135 
Net operating loss and credit carryforwards385 247 
Other235 191 
Total deferred income tax assets$2,889 $2,712 
Less valuation allowances(223)(285)
Net deferred income tax assets$2,666 $2,427 
Deferred income tax liabilities:
Depreciation and amortization$(1,012)$(1,037)
Undistributed earnings(47)(47)
Total deferred income tax liabilities$(1,059)$(1,084)
Net deferred income tax assets$1,607 $1,343 
Reported as:
Noncurrent deferred income tax assets$1,670 $1,410 
Noncurrent liabilities—Other liabilities(63)(67)
Total$1,607 $1,343 
Accrued interest and penalties were $67 and $66 on December 31, 2023 and 2022 which were reported in accrued expenses and other liabilities and other noncurrent liabilities.
United States federal loss carryforwards of $254, with $53 of associated deferred tax asset and with $2 being subject to a valuation allowance, begin to expire in 2024. United States state loss carryforwards of $3,006, with $74 associated deferred tax asset and with $47 being subject to a valuation allowance, begin to expire in 2024. International loss carryforwards of $259, with $66 of associated deferred tax asset and with $63 being subject
to a valuation allowance, begin to expire in 2026; however, some have no expiration. We also have tax credit carryforwards of $208 with $79 being subject to a full valuation allowance. The credits with a full valuation allowance begin to expire in 2024. We do not anticipate generating income tax in excess of the non-expiring credits in the foreseeable future.
The Tax Cuts and Jobs Act (the Act) was enacted in 2017 in the United States. We recorded a one-time transition tax on earnings of certain foreign subsidiaries that were previously deferred. The Act also subjects a United States shareholder to tax on Global Intangible Low-Taxed Income (GILTI) earned by certain foreign subsidiaries. We have elected to account for GILTI tax in the year the tax is incurred.
We recorded deferred income tax on undistributed earnings of foreign subsidiaries not determined to be indefinitely reinvested. In 2022 it was determined that, based on our revised capital plan, certain cash outside the United States would no longer need to be repatriated during the period previously contemplated. As a result deferred taxes of $71 that were recorded on the associated earnings were reversed. The amount of undistributed earnings of foreign subsidiaries determined to be indefinitely reinvested at December 31, 2023 was approximately $11 billion. Determination of the total amount of unrecognized deferred income tax on undistributed earnings of foreign subsidiaries is not practicable.
Uncertain Income Tax Positions
 20232022
Beginning uncertain tax positions$286 $444 
Increases related to current year income tax positions102 17 
Increases related to prior year income tax positions10 34 
Decreases related to prior year income tax positions(33)(178)
Settlements of income tax audits(1)(13)
Statute of limitations expirations and other— (6)
Foreign currency translation7 (12)
Ending uncertain tax positions$371 $286 
Reported as:
Noncurrent liabilities—Income taxes$371 $286 
Our income tax expense would have been reduced by $248 and $289 in 2023 and 2022 had these uncertain income tax positions been favorably resolved. It is reasonably possible that the amount of unrecognized tax benefits will significantly change due to one or more of the following events in the next 12 months: expiring statutes, audit activity, tax payments, competent authority proceedings related to transfer pricing or final decisions in matters that are the subject of controversy in various taxing jurisdictions in which we operate, including inventory transfer pricing, cost sharing, product royalty and foreign branch arrangements. We are not able to reasonably estimate the amount or the future periods in which changes in unrecognized tax benefits may be resolved. Interest and penalties incurred associated with uncertain tax positions are included in other income (expense), net.
In the normal course of business, income tax authorities in various income tax jurisdictions both within the United States and internationally conduct routine audits of our income tax returns filed in prior years. These audits are generally designed to determine if individual income tax authorities are in agreement with our interpretations of complex income tax regulations regarding the allocation of income to the various income tax jurisdictions. Income tax expense in 2022 decreased $162 due to the effective settlement of the United States federal income tax audit for years 2014 through 2018. In addition 2022 other income (expense), net includes a benefit of $50 related to the release of accrued interest associated with this settlement. Income tax years are open from 2019 through the current year for the United
States federal jurisdiction. Income tax years open for our other major jurisdictions range from 2007 through the current year.
v3.24.0.1
Retirement Plans
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Retirement Plans RETIREMENT PLANS
Defined Contribution Plans
We provide certain employees with defined contribution plans and other types of retirement plans. A portion of our retirement plan expense under the defined contribution plans is funded with Stryker common stock. The use of Stryker common stock represents a non-cash operating activity that is not reflected in our Consolidated Statements of Cash Flows.
202320222021
Plan expense$327 $305 $259 
Expense funded with Stryker common stock57 41 37 
Stryker common stock held by plan:
Dollar amount$649 $522 $582 
Shares (in millions)2.2 2.1 2.2 
Value as a percentage of total plan assets10 %10 %10 %
Defined Benefit Plans
Certain of our subsidiaries have both funded and unfunded defined benefit pension plans covering some or all of their employees. The majority of our defined benefit pension plans have projected benefit obligations in excess of plan assets.
Discount Rate
The discount rates were selected using a hypothetical portfolio of high quality bonds on December 31 that would provide the necessary cash flows to match our projected benefit payments.
Expected Return on Plan Assets
The expected return on plan assets is determined by applying the target allocation in each asset category of plan investments to the anticipated return for each asset category based on historical and projected returns.
Components of Net Periodic Pension Cost
Net periodic benefit cost:202320222021
Service cost$(32)$(56)$(72)
Interest cost(23)(10)(7)
Expected return on plan assets18 15 11 
Amortization of prior service credit1 1 1 
Recognized actuarial gain (loss)4 (9)(16)
Curtailment gain— — 9 
Net periodic benefit cost$(32)$(59)$(74)
Changes in assets and benefit obligations recognized in OCI:
Net actuarial gain (loss)$(67)$244 $132 
Recognized net actuarial (gain) loss(4)9 16 
Prior service credit and transition amount(1)(1)(1)
Curtailment gain— — (9)
Total recognized in other comprehensive income (loss)$(72)$252 $138 
Total recognized in net periodic benefit cost and OCI$(104)$193 $64 
Weighted-average rates used to determine net periodic benefit cost:
Discount rate3.3 %1.1 %0.8 %
Expected return on plan assets4.2 %3.1 %2.5 %
Rate of compensation increase3.0 %2.6 %2.6 %
Weighted-average discount rate used to determine projected benefit obligations2.8 %3.3 %1.1 %
The actuarial gain (loss) for all pension plans was primarily related to a change in the discount rate used to measure the benefit obligations of those plans.
Investment Strategy
The investment strategy for our defined benefit pension plans is to meet the liabilities of the plans as they fall due and to maximize the return on invested assets within appropriate risk tolerances.
20232022
Fair value of plan assets$485 $420 
Benefit obligations(826)(673)
Funded status$(341)$(253)
Reported as:
Noncurrent assets—other assets$21 $21 
Current liabilities—accrued compensation(3)(3)
Noncurrent liabilities—other liabilities(359)(271)
Pre-tax amounts recognized in AOCI:
Unrecognized net actuarial gain (loss)(39)33 
Unrecognized prior service credit11 11 
Total$(28)$44 
Change in Benefit Obligations
20232022
Beginning projected benefit obligations$673 $1,036 
Service cost32 56 
Interest cost23 10 
Foreign exchange impact32 (56)
Employee contributions7 5 
Actuarial (gains) losses79 (354)
Benefits paid(20)(24)
Ending projected benefit obligations$826 $673 
Ending accumulated benefit obligations$790 $645 
Change in Plan Assets
20232022
Beginning fair value of plan assets$420 $543 
Actual return29 (109)
Employer contributions23 19 
Employee contributions7 5 
Foreign exchange impact22 (24)
Benefits paid(16)(14)
Ending fair value of plan assets$485 $420 
Allocation of Plan Assets
2024 Target2023 Actual2022 Actual
Equity securities25 %28 %27 %
Debt securities41 37 38 
Other34 35 35 
Total100 %100 %100 %
Valuation of Plan Assets
2023Level 1Level 2Level 3Total
Cash and cash equivalents$15 $— $— $15 
Equity securities20 130 — 150 
Corporate debt securities
2 185 — 187 
Other5 63 65 133 
Total$42 $378 $65 $485 
2022
Cash and cash equivalents$18 $— $— $18 
Equity securities21 99 — 120 
Corporate debt securities2 151 — 153 
Other5 69 55 129 
Total$46 $319 $55 $420 
Our Level 3 pension plan assets consist primarily of guaranteed investment contracts with insurance companies. The insurance contracts guarantee us principal repayment and a fixed rate of return. The $10 increase in Level 3 pension plan assets is primarily driven by the change in the corresponding pension liability. We expect to contribute $24 to our defined benefit pension plans in 2024.
Estimated Future Benefit Payments
202420252026202720282028-2032
$23 $24 $24 $26 $28 $164 
v3.24.0.1
Summary of Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2023
Quarterly Financial Data [Abstract]  
Summary of Quarterly Data (Unaudited) SUMMARY OF QUARTERLY DATA (UNAUDITED)
2023 QuartersMar 31Jun 30Sep 30Dec 31
Net sales$4,778 $4,996 $4,909 $5,815 
Gross profit3,016 3,181 3,158 3,703 
Earnings before income taxes679 899 869 1,226 
Net earnings592 738 692 1,143 
Net earnings per share of common stock:
Basic$1.56 $1.95 $1.82 $3.01 
Diluted$1.54 $1.93 $1.80 $2.98 
Dividends declared per share of common stock$0.75 $0.75 $0.75 $0.80 
2022 QuartersMar 31Jun 30Sep 30Dec 31
Net sales$4,275 $4,493 $4,479 $5,202 
Gross profit2,734 2,826 2,782 3,236 
Earnings before income taxes386 720 816 761 
Net earnings323 656 816 563 
Net earnings per share of common stock:
Basic$0.86 $1.73 $2.16 $1.48 
Diluted$0.84 $1.72 $2.14 $1.47 
Dividends declared per share of common stock$0.695 $0.695 $0.695 $0.750 
v3.24.0.1
Segment and Geographic Data
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment and Geographic Data SEGMENT AND GEOGRAPHIC DATA
We segregate our operations into two reportable business segments: (i) MedSurg and Neurotechnology and (ii) Orthopaedics and Spine which aligns to our internal reporting structure and how the Company manages its businesses.
The Corporate and Other category shown in the table below includes corporate and administration, corporate initiatives and share-based compensation, which includes compensation related to employee stock options, restricted stock units and performance stock unit grants and director stock options and restricted stock unit grants.
Segment Results202320222021
MedSurg and Neurotechnology$11,836 $10,611 $9,538 
Orthopaedics and Spine8,662 7,838 7,570 
Net sales$20,498 $18,449 $17,108 
MedSurg and Neurotechnology$564 $540 $518 
Orthopaedics and Spine637 614 629 
Segment depreciation and amortization $1,201 $1,154 $1,147 
Corporate and Other140 124 125 
Total depreciation and amortization$1,341 $1,278 $1,272 
MedSurg and Neurotechnology$3,336 $2,737 $2,807 
Orthopaedics and Spine2,399 2,296 2,180 
Segment operating income$5,735 $5,033 $4,987 
Items not allocated to segments:
Corporate and Other$(780)$(649)$(605)
Acquisition and integration-related charges(20)(150)(585)
Amortization of intangible assets(635)(627)(619)
Structural optimization and other special charges(206)(349)(386)
   Goodwill impairment— (216)— 
Medical device regulations(96)(140)(107)
Recall-related matters(18)15 (103)
Regulatory and legal matters(92)(76)2 
Consolidated operating income$3,888 $2,841 $2,584 
Segment Assets and Capital Spending
Assets:20232022
MedSurg and Neurotechnology$20,514 $18,487 
Orthopaedics and Spine18,313 17,466 
Total segment assets$38,827 $35,953 
Corporate and Other1,085 931 
Total assets$39,912 $36,884 
Purchases of property, plant and equipment:202320222021
MedSurg and Neurotechnology$179 $173 $197 
Orthopaedics and Spine183 175 165 
Total segment purchases of property, plant and equipment$362 $348 $362 
Corporate and Other213 240 163 
Total purchases of property, plant and equipment$575 $588 $525 
We measure the financial results of our reportable segments using an internal performance measure that excludes acquisition and integration-related charges, structural optimization and other special charges, goodwill impairment, reserves for certain product recall matters and reserves for certain legal and regulatory matters. Identifiable assets are those assets used exclusively in the operations of each business segment or allocated when used jointly. Corporate assets are principally property, plant and equipment and noncurrent assets. Certain assets in 2022 have been reallocated to the segments to conform with current year presentation.
The countries in which we have local revenue generating operations have been combined into the following geographic areas: the United States; Europe, Middle East, Africa; Asia Pacific; and other foreign countries, which include Canada and countries in the Latin American region. Net sales are reported based on the geographic area of the Stryker location where the sales to the customer originated.
Geographic Information
Net SalesNet Property, Plant and Equipment
20232022202120232022
United States$15,257 $13,638 $12,321 $1,874 $1,791 
Europe, Middle East, Africa2,618 2,348 2,299 1,151 995 
Asia Pacific1,946 1,885 1,973 77 76 
Other countries677 578 515 113 108 
Total$20,498 $18,449 $17,108 $3,215 $2,970 
v3.24.0.1
Asset Impairments
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Asset Impairments ASSET IMPAIRMENTS
Asset impairments recognized in 2023 were not significant. Asset impairments recognized in 2022 included $47 to write off long-lived and intangible assets primarily as a result of the exit of certain product lines.
The government in China conducts regional and national volume-based procurement (VBP) programs for high-value medical consumables as part of its efforts to reduce healthcare costs. Each VBP program has specific requirements to award contracts to the lowest bidders who are able to satisfy the quality and quantity requirements. As a result of the outcome of certain regional programs for our trauma products and the national VBP program for hips and knees we recorded charges of $105 to impair certain long-lived and intangible assets in 2021. These charges were included in selling, general and administrative expenses.
In addition to the above, we recorded asset impairments of $159 in 2021 consisting primarily of in-process research and development, other intangible assets and property, plant and equipment as a result of COVID-19-related demand impacts on in-process product development and certain other divestiture and restructuring activities. These charges were included in selling, general and administrative expenses.
v3.24.0.1
Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Nature of Operations Stryker (the "Company," "we," "us," or "our") is a global leader in medical technologies and, together with its customers, is driven to make healthcare better. The Company offers innovative products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Our products include surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling, emergency medical equipment and intensive care disposable products; clinical communication and workflow solutions; 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.
Basis of Presentation and Consolidation The Consolidated Financial Statements include the Company and its subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. We have no material interests in variable interest entities and none that require consolidation. Certain prior year amounts have been reclassified to conform with current year presentation in our Consolidated Financial Statements.
Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities on the date of the financial statements and the reported amounts of net sales and expenses in the reporting period. Actual results could differ from those estimates.
Revenue Recognition Sales are recognized as the performance obligations to deliver products or services (including services under extended warranty service contracts) are satisfied and are recorded based on the amount of consideration we expect to receive in exchange for satisfying the performance obligations. Our sales are recognized primarily when we transfer control to the customer, which can be on the date of shipment, the date of receipt by the customer or, for most Orthopaedics products, when we have received a purchase order and appropriate notification the product has been used or implanted. Products and services are primarily transferred to customers at a point in time, with some transfers of services taking place over time.
Sales represent the amount of consideration we expect to receive from customers in exchange for transferring products and services. Net sales exclude sales, value added and other taxes we collect from customers. Other costs to obtain and fulfill contracts are generally expensed as incurred due to the short-term nature of most of our sales. We extend terms of payment to our customers based on commercially reasonable terms for the markets of our customers, while also considering their credit quality.
A provision for estimated sales returns, discounts and rebates is recognized as a reduction of sales in the same period that the sales are recognized. Our estimate of the provision for sales returns has been established based on contract terms with our customers and historical business practices and current trends. Shipping and handling costs charged to customers are included in net sales.
Cost of Sales Cost of sales is primarily comprised of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of sales also includes the cost to distribute products to customers, inbound freight costs, warehousing costs and other shipping and handling activity.
Research, Development and Engineering Expenses Research, development and engineering costs are charged to expense as incurred. Costs include research, development and engineering activities relating to the development of new products, improvement of existing products, technical support of products and compliance with governmental regulations for the protection of customers and patients. Costs primarily consist of salaries, wages, consulting and depreciation and maintenance of research facilities and equipment.
Selling, General and Administrative Expenses Selling, general and administrative expense is primarily comprised of selling expenses, marketing expenses, administrative and other indirect overhead costs, amortization of loaner instrumentation, depreciation and amortization expense of non-manufacturing assets and other miscellaneous operating items.
Currency Translation Financial statements of subsidiaries outside the United States generally are measured using the local currency as the functional currency. Adjustments to translate those statements into United States Dollars are recorded in other comprehensive income (OCI). Transactional exchange gains and losses are included in other income (expense), net.
Cash Equivalents Highly liquid investments with remaining stated maturities of three months or less when purchased or other money market instruments that are redeemable upon demand are considered cash equivalents and recorded at cost.
Marketable Securities Marketable securities consist of marketable debt securities, certificates of deposit and mutual funds. Mutual funds are acquired to offset changes in certain liabilities related to deferred compensation arrangements and are expected to be used to settle these liabilities and are recognized in other noncurrent assets. Pursuant to our investment policy, all individual marketable security investments must have a minimum credit quality of single A (Standard & Poor’s and Fitch) and A2 (Moody’s Corporation) at the time of acquisition, while the overall portfolio of marketable securities must maintain a minimum average credit quality of double A (Standard & Poor’s and Fitch) or Aa (Moody’s Corporation). In the event of a rating downgrade below the minimum credit quality subsequent to purchase, the marketable security investment is evaluated to determine the appropriate action to take to minimize the overall risk to our marketable security investment portfolio. Our marketable securities are classified as available-for-sale and trading securities. Investments in trading securities represent participant-directed investments of deferred employee compensation.
Accounts Receivable Accounts receivable consists of trade and other miscellaneous receivables. An allowance is maintained for doubtful accounts for estimated losses in the collection of accounts receivable. Estimates are made regarding the ability of customers to make required payments based on historical credit experience, current market conditions and expected credit losses. Accounts receivable are written off when all reasonable collection efforts are exhausted.
Inventories Inventories are stated at the lower of cost or net realizable value, with cost generally determined using the first-in, first-out (FIFO) cost method. For excess and obsolete inventory
resulting from the potential inability to sell specific products at prices in excess of current carrying costs, reserves are maintained to reduce current carrying cost to net realizable value.
Financial Instruments Our financial instruments consist of cash, cash equivalents, marketable securities, accounts receivable, other investments, accounts payable, debt and foreign currency exchange contracts. The carrying value of our financial instruments, with the exception of our senior unsecured notes, approximates fair value on December 31, 2023 and 2022. Refer to Notes 3 and 10 for further details.
All marketable securities are recognized at fair value. Adjustments to the fair value of marketable securities that are classified as available-for-sale are recognized as increases or decreases, net of income taxes, within accumulated other comprehensive income (AOCI) in shareholders’ equity and adjustments to the fair value of marketable securities that are classified as trading are recognized in earnings. The amortized cost of marketable debt securities is adjusted for amortization of premiums and discounts to maturity computed under the effective interest method. Such amortization and interest and realized gains and losses are included in other income (expense), net. The cost of securities sold is determined by the specific identification method.
We review declines in the fair value of our investments classified as available-for-sale to determine whether the decline in fair value is a result of credit loss or other factors. Impairments of available-for-sale marketable debt securities related to credit loss are included in earnings and impairments related to other factors are recognized within AOCI.
Derivatives All derivatives are recognized at fair value and reported on a gross basis. We enter into forward currency exchange contracts to mitigate the impact of currency fluctuations on transactions denominated in nonfunctional currencies, thereby limiting our risk that would otherwise result from changes in exchange rates. The periods of the forward currency exchange contracts correspond to the periods of the exposed transactions, with realized gains and losses included in the measurement and recording of transactions denominated in the nonfunctional currencies. All forward currency exchange contracts are recorded at their fair value each period.
Forward currency exchange contracts designated as cash flow hedges are designed to hedge the variability of cash flows associated with forecasted transactions denominated in a foreign currency that will take place in the future. These nonfunctional currency exposures principally relate to forecasted intercompany sales and purchases of manufactured products and generally have maturities up to eighteen months. Changes in value of derivatives designated as cash flow hedges are recorded in AOCI on the Consolidated Balance Sheets until earnings are affected by the variability of the underlying cash flows. At that time, the applicable amount of gain or loss from the derivative instrument that is deferred in shareholders’ equity is reclassified into earnings and is included in cost of goods sold in the Consolidated Statements of Earnings. Cash flows associated with these hedges are included in cash from operations in the same category as the cash flows from the items being hedged.
Forward currency exchange contracts are used to offset our exposure to the change in value of specific foreign currency denominated assets and liabilities, primarily intercompany payables and receivables. These derivatives are not designated as hedges and, therefore, changes in the value of these forward contracts are recognized in earnings, thereby offsetting the current earnings effect of the related changes in value of foreign
currency denominated assets and liabilities. The estimated fair value of our forward currency exchange contracts represents the measurement of the contracts at month-end spot rates as adjusted by current forward points.
From time to time, we designate derivative and non-derivative financial instruments as net investment hedges of our investments in certain international subsidiaries. For derivative instruments that are designated and qualify as a net investment hedge, the effective portion of the derivative's gain or loss is recognized in OCI and reported as a component of AOCI. We have elected to use the spot method to assess effectiveness for our derivatives designated as net investment hedges. Accordingly, the change in fair value attributable to changes in the spot rate is recorded in AOCI. We exclude the spot-forward difference from the assessment of hedge effectiveness and amortize this amount separately on a straight-line basis over the term of the forward contracts. This amortization is recognized in other income (expense), net.
From time to time, we designate forward starting interest rate derivative instruments as cash flow hedges to manage the exposure to interest rate volatility with regard to future issuance and refinancing of debt. Changes in value of derivatives designated as cash flow hedges are recorded in AOCI on the Consolidated Balance Sheets until earnings are affected by the variability of the underlying cash flows. At that time, the applicable amount of gain or loss from the derivative instrument that is deferred in shareholders’ equity is reclassified into earnings and is included in interest expense within other income (expense), net in the Consolidated Statements of Earnings.
Interest rate derivative instruments designated as fair value hedges have been used in the past to manage the exposure to interest rate movements and to reduce borrowing costs by converting fixed-rate debt into floating-rate debt. Under these agreements, we agree to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount.
Property, Plant and Equipment Property, plant and equipment is stated at cost. Depreciation is generally computed by the straight-line method over the estimated useful lives of three to 30 years for buildings and improvements and three to 15 years for machinery and equipment.
Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over fair value of tangible net assets of acquired businesses at the acquisition date, after amounts allocated to other identifiable intangible assets. Factors that contribute to the recognition of goodwill include synergies that are specific to our business and not available to other market participants and are expected to increase net sales and profits; acquisition of a talented workforce; cost savings opportunities; the strategic benefit of expanding our presence in core and adjacent markets; and diversifying our product portfolio.
The fair values of other identifiable intangible assets acquired in a business combination are primarily determined using the income approach. Other intangible assets include, but are not limited to, developed technology, customer and distributor relationships (which reflect expected continued customer or distributor patronage) and trademarks and patents. Intangible assets with determinable useful lives are amortized on a straight-line basis over their estimated useful lives of four to 40 years. Certain acquired trade names are considered to have indefinite lives and are not amortized, but are assessed annually for potential impairment as described below.
In some of our acquisitions, we acquire in-process research and development (IPRD) intangible assets. For acquisitions accounted for as business combinations IPRD is considered to be an indefinite-lived intangible asset until the research is completed (then it becomes a determinable-lived intangible asset) or determined to have no future use (then it is impaired). For asset acquisitions IPRD is expensed immediately unless there is an alternative future use.
Goodwill, Intangibles and Long-Lived Asset Impairment Tests We perform our annual impairment test for goodwill as of October 31 each year. We consider qualitative indicators of the fair value of a reporting unit when it is unlikely that a reporting unit has impaired goodwill and periodically corroborate that assessment with quantitative information. In certain circumstances, we may also utilize a discounted cash flow analysis that requires certain assumptions and estimates be made regarding market conditions and our future profitability. Indefinite-lived intangible assets are also tested at least annually for impairment by comparing the individual carrying values to the fair value.
We review long-lived assets for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows. Undiscounted cash flows expected to be generated by the related assets are estimated over the asset's useful life based on updated projections. If the evaluation indicates that the carrying amount of the asset may not be recoverable, any potential impairment is measured based upon the fair value of the related asset or asset group as determined by an appropriate market appraisal or other valuation technique. Assets classified as held for sale are recorded at the lower of carrying amount or fair value less costs to sell.
Share-Based Compensation hare-based compensation is in the form of stock options, restricted stock units (RSUs) and performance stock units (PSUs). Stock options are granted under long-term incentive plans to certain key employees and non-employee directors at an exercise price not less than the fair market value of the underlying common stock, which is the quoted closing price of our common stock on the day prior to the date of grant. The options are granted for periods of up to 10 years and become exercisable in varying installments.
We grant RSUs to key employees and non-employee directors and PSUs to certain key employees under our long-term incentive plans. The fair value of RSUs is determined based on the number of shares granted and the quoted closing price of our common stock on the date of grant, adjusted for the fact that RSUs do not include anticipated dividends. RSUs generally vest in one-third increments over a three-year period and are settled in stock. PSUs are earned over a three-year performance cycle and vest in March of the year following the end of that performance cycle. The number of PSUs that will ultimately be earned is based on our performance relative to pre-established goals in that three-year performance cycle. The fair value of PSUs is determined based on the quoted closing price of our common stock on the day of grant.
Compensation expense is recognized in the Consolidated Statements of Earnings based on the estimated fair value of the awards on the grant date. Compensation expense recognized reflects an estimate of the number of awards expected to vest after taking into consideration an estimate of award forfeitures based on actual experience and is recognized on a straight-line basis over the requisite service period, which is generally the
period required to obtain full vesting. Management expectations related to the achievement of performance goals associated with PSU grants is assessed regularly and that assessment is used to determine whether PSU grants are expected to vest. If performance-based milestones related to PSU grants are not met or not expected to be met, any compensation expense recognized associated with such grants will be reversed.
Income Taxes Deferred income tax assets and liabilities are determined based on differences between financial reporting and income tax bases of assets and liabilities and are measured using the enacted income tax rates in effect for the years in which the differences are expected to reverse. Deferred income tax benefits generally represent the change in net deferred income tax assets and liabilities in the year. Other amounts result from adjustments related to acquisitions and foreign currency as appropriate.
We operate in multiple income tax jurisdictions both within the United States and internationally. Accordingly, management must determine the appropriate allocation of income to each of these jurisdictions based on current interpretations of complex income tax regulations. Income tax authorities in these jurisdictions regularly perform audits of our income tax filings. Income tax audits associated with the allocation of this income and other complex issues, including inventory transfer pricing and cost sharing, product royalty and foreign branch arrangements, may require an extended period of time to resolve and may result in significant income tax adjustments if changes to the income allocation are required between jurisdictions with different income tax rates.
New Accounting Pronouncements Not Yet Adopted and Accounting Pronouncements Recently Adopted
New Accounting Pronouncements Not Yet Adopted
In December 2023 the Financial Accounting Standards Board (FASB) issued ASU 2023-09 (Topic 740): Income Taxes: Improvements to Income Tax Disclosures which expands the existing rules on income tax disclosures. This update requires entities to disclose specific categories in the tax rate reconciliation, provide additional information for reconciling items that meet a quantitative threshold and disclose additional information about income taxes paid on an annual basis. The new disclosure requirements are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating these new expanded disclosure requirements.
In November 2023 the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures which expands disclosure requirements to require entities to disclose significant segment expenses that are regularly provided to or easily computed from information regularly provided to the chief operating decision maker. This update also requires all annual disclosures currently required by Topic 280 to be disclosed in interim periods. The new disclosure requirements are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating these new expanded disclosure requirements.
Accounting Pronouncements Recently Adopted
In September 2022 the FASB issued ASU 2022-04, Liabilities - Supplier Finance Programs: Disclosure of Supplier Finance Program Obligations, which requires entities that utilize supplier finance programs in connection with the purchase of goods and services to disclose information about the key terms of the programs, a rollforward of the obligations under the programs and where those obligations are presented in the balance sheet. The disclosure requirements are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the requirement for rollforward information which is effective for fiscal years beginning after December 15, 2023. We participate in a supplier financing program that enables our suppliers, at their sole discretion, to sell their Stryker receivables to a financial institution on a non-recourse basis in order to be paid earlier than our payment terms provide. As of December 31, 2023 our obligations under this program are not material.
v3.24.0.1
Revenue Recognition (Tables)
 12 Months Ended
Dec. 31, 2023
Revenue Recognition [Abstract]  
Schedule of Disaggregated Revenue
Segment Net Sales
MedSurg and Neurotechnology:202320222021
Instruments$2,569 $2,279 $2,111 
Endoscopy3,033 2,725 2,418 
Medical3,459 3,031 2,607 
Neurovascular1,226 1,200 1,188 
Neuro Cranial1,549 1,376 1,214 
$11,836 $10,611 $9,538 
Orthopaedics and Spine:
Knees$2,273 $1,997 $1,848 
Hips1,544 1,413 1,342 
Trauma and Extremities3,147 2,807 2,664 
Spine1,189 1,146 1,167 
Other509 475 549 
$8,662 $7,838 $7,570 
Total$20,498 $18,449 $17,108 
United States Net Sales
MedSurg and Neurotechnology:202320222021
Instruments$2,051 $1,810 $1,637 
Endoscopy2,478 2,211 1,943 
Medical2,785 2,422 2,007 
Neurovascular483 446 451 
Neuro Cranial1,270 1,135 988 
$9,067 $8,024 $7,026 
Orthopaedics and Spine:
Knees$1,676 $1,493 $1,351 
Hips988 896 822 
Trauma and Extremities2,297 2,035 1,866 
Spine883 836 831 
Other346 354 425 
$6,190 $5,614 $5,295 
Total$15,257 $13,638 $12,321 
International Net Sales
MedSurg and Neurotechnology:202320222021
Instruments$518 $469 $474 
Endoscopy555 514 475 
Medical674 609 600 
Neurovascular743 754 737 
Neuro Cranial279 241 226 
$2,769 $2,587 $2,512 
Orthopaedics and Spine:
Knees$597 $504 $497 
Hips556 517 520 
Trauma and Extremities850 772 798 
Spine306 310 336 
Other163 121 124 
$2,472 $2,224 $2,275 
Total$5,241 $4,811 $4,787 
Changes in Contract Liabilities Changes in contract liabilities during the year were as follows:
2023
Beginning contract liabilities$741 
Revenue recognized from beginning of year contract liabilities(379)
Net advance consideration received during the period498 
Ending contract liabilities$860 
v3.24.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
Assets Measured at Fair Value
20232022
Cash and cash equivalents$2,971 $1,844 
Trading marketable securities209 166 
Level 1 - Assets$3,180 $2,010 
Available-for-sale marketable securities:
Corporate and asset-backed debt securities$43 $42 
Foreign government debt securities— 1 
United States agency debt securities4 3 
United States treasury debt securities31 36 
Certificates of deposit4 2 
Total available-for-sale marketable securities$82 $84 
Foreign currency exchange forward contracts116 119 
Level 2 - Assets$198 $203 
Total assets measured at fair value$3,378 $2,213 
Liabilities Measured at Fair Value
20232022
Deferred compensation arrangements$209 $166 
Level 1 - Liabilities$209 $166 
Foreign currency exchange forward contracts$97 $102 
Level 2 - Liabilities$97 $102 
Contingent consideration:
Beginning$121 $306 
Additions192 1 
Change in estimate and foreign exchange(2)(137)
Settlements(22)(49)
Ending$289 $121 
Level 3 - Liabilities$289 $121 
Total liabilities measured at fair value$595 $389 
Available-for-sale Securities
Fair Value of Available for Sale Securities by Maturity
20232022
Due in one year or less$46 $53 
Due after one year through three years$36 $31 
v3.24.0.1
Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
2023Cash FlowNet InvestmentNon-DesignatedTotal
Gross notional amount$1,650 $1,662 $4,315 $7,627 
Maximum term in years2.9
Fair value:
Other current assets$24 $74 $16 $114 
Other noncurrent assets2 — — 2 
Other current liabilities(16)— (36)(52)
Other noncurrent liabilities(2)(43)— (45)
Total fair value$8 $31 $(20)$19 
2022
Gross notional amount$1,053 $1,598 $3,417 $6,068 
Maximum term in years3.9
Fair value:
Other current assets$20 $— $9 $29 
Other noncurrent assets1 89 — 90 
Other current liabilities(6)— (79)(85)
Other noncurrent liabilities(1)(16)— (17)
Total fair value$14 $73 $(70)$17 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
Currency Exchange Rate Gains (Losses) Recognized in Net Earnings
Derivative InstrumentRecognized in:202320222021
Cash FlowCost of sales$39 $23 $(12)
Net InvestmentOther income (expense), net34 39 35 
Non-DesignatedOther income (expense), net25 30 8 
Total$98 $92 $31 
v3.24.0.1
Accumulated Other Comprehensive (Loss) Income (AOCI) (Tables)
 12 Months Ended
Dec. 31, 2023
Reclassification Adjustments Out of Accumulated Other Comprehensive Income (AOCI) [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
Marketable SecuritiesPension PlansHedgesFinancial Statement TranslationTotal
2021$— $(155)$40 $(416)$(531)
OCI(1)244 43 253 539 
Income taxes— (64)1 (110)(173)
Reclassifications to:
Cost of sales— — (23)— (23)
Other (income) expense, net— 8 (5)(39)(36)
Income taxes— (2)(4)9 3 
Net OCI$(1)$186 $12 $113 $310 
2022$(1)$31 $52 $(303)$(221)
OCI1 (67)27 (157)(196)
Income taxes— 12 (5)59 66 
Reclassifications to:
Cost of sales— — (39)— (39)
Other (income) expense, net— (5)(5)(34)(44)
Income taxes— 1 9 8 18 
Net OCI$1 $(59)$(13)$(124)$(195)
2023$— $(28)$39 $(427)$(416)
v3.24.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
Allocation Of The Preliminary Purchase Price To The Acquired Net Assets Of Acquisitions
Purchase price allocations for our significant acquisitions are:
Purchase Price Allocation of Acquired Net Assets
20232022
CerusVocera
Tangible assets acquired:
Accounts receivable$1 $33 
Inventory2 13 
Deferred income tax assets2 91 
Other assets1 92 
Debt— (425)
Deferred income tax liabilities(60)(193)
Other liabilities(22)(117)
Intangible assets:
Customer and distributor relationships— 603 
Developed technology240 175 
Trade name— 18 
Goodwill317 2,273 
Purchase price, net of cash acquired of $7 and $281
$481 $2,563 
Weighted-average amortization period at acquisition (years):
Developed technologies136
Customer relationships— 15
Trademarks— 9
v3.24.0.1
Contingencies and Commitments (Tables)
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Lease, Cost
20232022
Right-of-use assets $494 $473 
Lease liabilities, current $143 $121 
Lease liabilities, noncurrent $356 $357 
Other information:
Weighted-average remaining lease term (years)5.55.5
Weighted-average discount rate3.87 %3.22 %
Future Purchase Obligations and Minimum Lease Payments
20242025202620272028Thereafter
Debt repayments$2,097 $1,400 $1,000 $831 $2,751 $5,001 
Purchase obligations$2,349 $213 $83 $65 $20 $20 
Minimum lease payments$150 $108 $87 $56 $41 $78 
v3.24.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in the Net Carrying Amount of Goodwill by Segment
Changes in the Net Carrying Value of Goodwill by Segment
MedSurg and NeurotechnologyOrthopaedics and SpineTotal
2021$5,669 $7,249 $12,918 
Goodwill impairment— (216)(216)
Additions and adjustments2,320 — 2,320 
Foreign exchange and other(54)(88)(142)
2022$7,935 $6,945 $14,880 
Additions and adjustments301 — 301 
Foreign exchange and other34 28 62 
2023$8,270 $6,973 $15,243 
Summary of the Company's Other Intangible Assets
Summary of Other Intangible Assets
Gross
Carrying
Amount		Less
Accumulated
Amortization		Net
Carrying
Amount
Developed technologies
2023$5,769 $2,815 $2,954 
20225,440 2,363 3,077 
Customer relationships
2023$2,907 $1,504 $1,403 
20222,847 1,322 1,525 
Patents
2023$329 $302 $27 
2022343 297 46 
Trademarks
2023$427 $246 $181 
2022425 220 205 
In-process research and development
2023$21 $— $21 
202221 — 21 
Other
2023$96 $89 $7 
2022105 94 11 
Total
2023$9,549 $4,956 $4,593 
20229,181 4,296 4,885 
Estimated Amortization Expense
Estimated Amortization Expense
20242025202620272028
$622 $587 $530 $510 $462 
v3.24.0.1
Capital Stock (Tables)
 12 Months Ended
Dec. 31, 2023
Capital Stock [Abstract]  
Schedule of Fair Value Assumptions
Option Value and Assumptions
202320222021
Weighted-average fair value per share$83.59 $68.08 $53.35 
Assumptions:
Risk-free interest rate4.0 %1.8 %0.8 %
Expected dividend yield1.2 %1.0 %1.2 %
Expected stock price volatility29.0 %27.0 %26.9 %
Expected option life (years)6.25.95.9
Summary of Stock Option Activity
2023 Stock Option Activity
Shares
(in millions)		Weighted-Average
Exercise Price		Weighted-Average
Remaining
Term (in years)		Aggregate
Intrinsic
 Value
Outstanding January 112.1 $168.80 
Granted1.6 268.28 
Exercised(2.0)117.64 
Canceled or forfeited(0.2)235.73 
Outstanding December 3111.5 $189.70 5.4$1,257.1 
Exercisable December 316.8 $153.01 3.1$1,001.1 
Options expected to vest4.3 $243.26 7.8$242.2 
Summary of RSU and PSU Activity
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) Activity
Shares
(in millions)		Weighted-Average
Grant Date Fair Value
RSUsPSUsRSUsPSUs
Nonvested on January 10.7 0.2 $232.02 $234.70 
Granted0.4 0.1 257.09 255.27 
Vested(0.3)(0.1)227.85 217.73 
Canceled or forfeited(0.1)— 244.09 217.73 
Nonvested on December 310.7 0.2 $246.98 $250.17 
v3.24.0.1
Debt and Credit Facilities (Tables)
 12 Months Ended
Dec. 31, 2023
Long-Term Debt, Unclassified [Abstract]  
Maturities Of Long-Term Debt Disclosures
Summary of Total Debt
RateDue20232022
Senior unsecured notes:
1.125%November 30, 2023$— $585 
0.600%December 1, 2023— 599 
3.375%May 15, 2024600 596 
VariousNovember 16, 2024554 — 
0.250%December 3, 2024940 903 
1.150%June 15, 2025648 647 
3.375%November 1, 2025749 748 
3.500%March 15, 2026997 995 
2.125%November 30, 2027828 795 
3.650%March 7, 2028598 597 
4.850%December 8, 2028596 — 
3.375%December 11, 2028661 — 
0.750%March 1, 2029883 848 
1.950%June 15, 2030991 991 
2.625%November 30, 2030713 684 
1.000%December 3, 2031823 790 
4.100%April 1, 2043393 392 
4.375%May 15, 2044396 396 
4.625%March 15, 2046983 983 
2.900%June 15, 2050642 642 
Term loan— 850 
Other— 7 
Total debt$12,995 $13,048 
Less current maturities2,094 1,191 
Total long-term debt$10,901 $11,857 
Unamortized debt issuance costs$50 $52 
Borrowing capacity on existing facilities$2,160 $2,162 
Fair value of senior unsecured notes$12,252 $10,910 
v3.24.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Income Tax Rate from Continuing Operations
Effective Income Tax Rate Reconciliation
202320222021
United States federal statutory rate21.0 %21.0 %21.0 %
United States state and local income taxes, less federal deduction1.1 2.0 2.7 
Foreign income tax at rates other than 21%(6.8)(4.1)(6.9)
Tax related to repatriation of foreign earnings1.2 (2.4)1.4 
Intellectual property transfers(3.3)0.1 (2.3)
United States federal audit settlement— (6.1)— 
Goodwill impairment— 1.7 — 
Other0.6 (0.1)(3.3)
Effective income tax rate13.8 %12.1 %12.6 %
Schedule of Provision for Income Taxes
Earnings Before Income Taxes 
202320222021
United States$701 $407 $433 
International2,972 2,276 1,848 
Total$3,673 $2,683 $2,281 
Components of Income Tax Expense (Benefit)
Current income tax expense (benefit):202320222021
United States federal$236 $(76)$155 
United States state and local48 64 97 
International430 279 272 
Total current income tax expense$714 $267 $524 
Deferred income tax expense (benefit):
United States federal$(212)$(179)$(82)
United States state and local(20)(30)(23)
International26 267 (132)
Total deferred income tax expense (benefit)$(206)$58 $(237)
Total income tax expense$508 $325 $287 
Schedule of Difference in Income Tax Effects Comprising Company's Deferred Income Tax Assets and Liabilities
Deferred Income Tax Assets and Liabilities
Deferred income tax assets:20232022
Inventories$521 $516 
Other accrued expenses253 155 
Depreciation and amortization918 1,038 
State income taxes150 153 
Share-based compensation86 73 
Research and development capitalization295 204 
International interest expense carryforwards46 135 
Net operating loss and credit carryforwards385 247 
Other235 191 
Total deferred income tax assets$2,889 $2,712 
Less valuation allowances(223)(285)
Net deferred income tax assets$2,666 $2,427 
Deferred income tax liabilities:
Depreciation and amortization$(1,012)$(1,037)
Undistributed earnings(47)(47)
Total deferred income tax liabilities$(1,059)$(1,084)
Net deferred income tax assets$1,607 $1,343 
Reported as:
Noncurrent deferred income tax assets$1,670 $1,410 
Noncurrent liabilities—Other liabilities(63)(67)
Total$1,607 $1,343 
Schedule of Unresolved Income Tax Positions
Uncertain Income Tax Positions
 20232022
Beginning uncertain tax positions$286 $444 
Increases related to current year income tax positions102 17 
Increases related to prior year income tax positions10 34 
Decreases related to prior year income tax positions(33)(178)
Settlements of income tax audits(1)(13)
Statute of limitations expirations and other— (6)
Foreign currency translation7 (12)
Ending uncertain tax positions$371 $286 
Reported as:
Noncurrent liabilities—Income taxes$371 $286 
v3.24.0.1
Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Defined Contribution Plan Disclosures
202320222021
Plan expense$327 $305 $259 
Expense funded with Stryker common stock57 41 37 
Stryker common stock held by plan:
Dollar amount$649 $522 $582 
Shares (in millions)2.2 2.1 2.2 
Value as a percentage of total plan assets10 %10 %10 %
Schedule of Costs of Retirement Plans
Components of Net Periodic Pension Cost
Net periodic benefit cost:202320222021
Service cost$(32)$(56)$(72)
Interest cost(23)(10)(7)
Expected return on plan assets18 15 11 
Amortization of prior service credit1 1 1 
Recognized actuarial gain (loss)4 (9)(16)
Curtailment gain— — 9 
Net periodic benefit cost$(32)$(59)$(74)
Changes in assets and benefit obligations recognized in OCI:
Net actuarial gain (loss)$(67)$244 $132 
Recognized net actuarial (gain) loss(4)9 16 
Prior service credit and transition amount(1)(1)(1)
Curtailment gain— — (9)
Total recognized in other comprehensive income (loss)$(72)$252 $138 
Total recognized in net periodic benefit cost and OCI$(104)$193 $64 
Weighted-average rates used to determine net periodic benefit cost:
Discount rate3.3 %1.1 %0.8 %
Expected return on plan assets4.2 %3.1 %2.5 %
Rate of compensation increase3.0 %2.6 %2.6 %
Weighted-average discount rate used to determine projected benefit obligations2.8 %3.3 %1.1 %
Schedule of Defined Benefit Plans Disclosures
20232022
Fair value of plan assets$485 $420 
Benefit obligations(826)(673)
Funded status$(341)$(253)
Reported as:
Noncurrent assets—other assets$21 $21 
Current liabilities—accrued compensation(3)(3)
Noncurrent liabilities—other liabilities(359)(271)
Pre-tax amounts recognized in AOCI:
Unrecognized net actuarial gain (loss)(39)33 
Unrecognized prior service credit11 11 
Total$(28)$44 
Schedule of Changes in Accumulated Postemployment Benefit Obligations
Change in Benefit Obligations
20232022
Beginning projected benefit obligations$673 $1,036 
Service cost32 56 
Interest cost23 10 
Foreign exchange impact32 (56)
Employee contributions7 5 
Actuarial (gains) losses79 (354)
Benefits paid(20)(24)
Ending projected benefit obligations$826 $673 
Ending accumulated benefit obligations$790 $645 
Schedule of Changes in Fair Value of Plan Assets
Change in Plan Assets
20232022
Beginning fair value of plan assets$420 $543 
Actual return29 (109)
Employer contributions23 19 
Employee contributions7 5 
Foreign exchange impact22 (24)
Benefits paid(16)(14)
Ending fair value of plan assets$485 $420 
Valuation of Plan Assets
2023Level 1Level 2Level 3Total
Cash and cash equivalents$15 $— $— $15 
Equity securities20 130 — 150 
Corporate debt securities
2 185 — 187 
Other5 63 65 133 
Total$42 $378 $65 $485 
2022
Cash and cash equivalents$18 $— $— $18 
Equity securities21 99 — 120 
Corporate debt securities2 151 — 153 
Other5 69 55 129 
Total$46 $319 $55 $420 
Schedule of Allocation of Plan Assets
Allocation of Plan Assets
2024 Target2023 Actual2022 Actual
Equity securities25 %28 %27 %
Debt securities41 37 38 
Other34 35 35 
Total100 %100 %100 %
Schedule of Expected Benefit Payments
Estimated Future Benefit Payments
202420252026202720282028-2032
$23 $24 $24 $26 $28 $164 
v3.24.0.1
Summary of Quarterly Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2023
Quarterly Financial Data [Abstract]  
Summary of Quarterly Data
2023 QuartersMar 31Jun 30Sep 30Dec 31
Net sales$4,778 $4,996 $4,909 $5,815 
Gross profit3,016 3,181 3,158 3,703 
Earnings before income taxes679 899 869 1,226 
Net earnings592 738 692 1,143 
Net earnings per share of common stock:
Basic$1.56 $1.95 $1.82 $3.01 
Diluted$1.54 $1.93 $1.80 $2.98 
Dividends declared per share of common stock$0.75 $0.75 $0.75 $0.80 
2022 QuartersMar 31Jun 30Sep 30Dec 31
Net sales$4,275 $4,493 $4,479 $5,202 
Gross profit2,734 2,826 2,782 3,236 
Earnings before income taxes386 720 816 761 
Net earnings323 656 816 563 
Net earnings per share of common stock:
Basic$0.86 $1.73 $2.16 $1.48 
Diluted$0.84 $1.72 $2.14 $1.47 
Dividends declared per share of common stock$0.695 $0.695 $0.695 $0.750 
v3.24.0.1
Segment and Geographic Data (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
Segment Results202320222021
MedSurg and Neurotechnology$11,836 $10,611 $9,538 
Orthopaedics and Spine8,662 7,838 7,570 
Net sales$20,498 $18,449 $17,108 
MedSurg and Neurotechnology$564 $540 $518 
Orthopaedics and Spine637 614 629 
Segment depreciation and amortization $1,201 $1,154 $1,147 
Corporate and Other140 124 125 
Total depreciation and amortization$1,341 $1,278 $1,272 
MedSurg and Neurotechnology$3,336 $2,737 $2,807 
Orthopaedics and Spine2,399 2,296 2,180 
Segment operating income$5,735 $5,033 $4,987 
Items not allocated to segments:
Corporate and Other$(780)$(649)$(605)
Acquisition and integration-related charges(20)(150)(585)
Amortization of intangible assets(635)(627)(619)
Structural optimization and other special charges(206)(349)(386)
   Goodwill impairment— (216)— 
Medical device regulations(96)(140)(107)
Recall-related matters(18)15 (103)
Regulatory and legal matters(92)(76)2 
Consolidated operating income$3,888 $2,841 $2,584 
Sales and Other Financial Information by Business Segment
Segment Assets and Capital Spending
Assets:20232022
MedSurg and Neurotechnology$20,514 $18,487 
Orthopaedics and Spine18,313 17,466 
Total segment assets$38,827 $35,953 
Corporate and Other1,085 931 
Total assets$39,912 $36,884 
Purchases of property, plant and equipment:202320222021
MedSurg and Neurotechnology$179 $173 $197 
Orthopaedics and Spine183 175 165 
Total segment purchases of property, plant and equipment$362 $348 $362 
Corporate and Other213 240 163 
Total purchases of property, plant and equipment$575 $588 $525 
Geographic Information on Net Sales and Long-Lived Assets
Geographic Information
Net SalesNet Property, Plant and Equipment
20232022202120232022
United States$15,257 $13,638 $12,321 $1,874 $1,791 
Europe, Middle East, Africa2,618 2,348 2,299 1,151 995 
Asia Pacific1,946 1,885 1,973 77 76 
Other countries677 578 515 113 108 
Total$20,498 $18,449 $17,108 $3,215 $2,970 
v3.24.0.1
Significant Accounting Policies (Details)
 12 Months Ended
Dec. 31, 2023
Derivative term (up to) 18 months
Employee Stock Option  
Expiration period 10 years
Restricted Stock Units (RSUs)  
Vesting period 3 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage 33.33%
Performance Stock Units (PSUs)  
Performance period 3 years
Minimum  
Finite-lived intangible asset, useful life 4 years
Maximum  
Finite-lived intangible asset, useful life 40 years
Building and Improvements | Minimum  
Property, plant and equipment useful life 3 years
Building and Improvements | Maximum  
Property, plant and equipment useful life 30 years
Machinery and Equipment | Minimum  
Property, plant and equipment useful life 3 years
Machinery and Equipment | Maximum  
Property, plant and equipment useful life 15 years
v3.24.0.1
Revenue Recognition - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Disaggregation of Revenue [Line Items]                      
Percentage of sales recognized as services over time (less than)                 10.00%    
Contract liabilities $ 860,000       $ 741,000       $ 860,000 $ 741,000  
Net sales $ 5,815,000 $ 4,909,000 $ 4,996,000 $ 4,778,000 $ 5,202,000 $ 4,479,000 $ 4,493,000 $ 4,275,000 20,498,000 18,449,000 $ 17,108,000
Other MedSurg And Neurotechnology                      
Disaggregation of Revenue [Line Items]                      
Net sales                 $ 343,000 $ 302,000 $ 277,000
v3.24.0.1
Revenue Recognition - Disaggregated Sales Analysis (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Disaggregation of Revenue [Line Items]                      
Net sales $ 5,815,000 $ 4,909,000 $ 4,996,000 $ 4,778,000 $ 5,202,000 $ 4,479,000 $ 4,493,000 $ 4,275,000 $ 20,498,000 $ 18,449,000 $ 17,108,000
United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 15,257,000 13,638,000 12,321,000
International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 5,241,000 4,811,000 4,787,000
MedSurg and Neurotechnology                      
Disaggregation of Revenue [Line Items]                      
Net sales                 11,836,000 10,611,000 9,538,000
MedSurg and Neurotechnology | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 9,067,000 8,024,000 7,026,000
MedSurg and Neurotechnology | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,769,000 2,587,000 2,512,000
MedSurg and Neurotechnology | Instruments                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,569,000 2,279,000 2,111,000
MedSurg and Neurotechnology | Instruments | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,051,000 1,810,000 1,637,000
MedSurg and Neurotechnology | Instruments | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 518,000 469,000 474,000
MedSurg and Neurotechnology | Endoscopy                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,033,000 2,725,000 2,418,000
MedSurg and Neurotechnology | Endoscopy | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,478,000 2,211,000 1,943,000
MedSurg and Neurotechnology | Endoscopy | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 555,000 514,000 475,000
MedSurg and Neurotechnology | Medical                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,459,000 3,031,000 2,607,000
MedSurg and Neurotechnology | Medical | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,785,000 2,422,000 2,007,000
MedSurg and Neurotechnology | Medical | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 674,000 609,000 600,000
MedSurg and Neurotechnology | Neurovascular                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,226,000 1,200,000 1,188,000
MedSurg and Neurotechnology | Neurovascular | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 483,000 446,000 451,000
MedSurg and Neurotechnology | Neurovascular | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 743,000 754,000 737,000
MedSurg and Neurotechnology | Neuro Cranial                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,549,000 1,376,000 1,214,000
MedSurg and Neurotechnology | Neuro Cranial | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,270,000 1,135,000 988,000
MedSurg and Neurotechnology | Neuro Cranial | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 279,000 241,000 226,000
Orthopaedics and Spine                      
Disaggregation of Revenue [Line Items]                      
Net sales                 8,662,000 7,838,000 7,570,000
Orthopaedics and Spine | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 6,190,000 5,614,000 5,295,000
Orthopaedics and Spine | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,472,000 2,224,000 2,275,000
Orthopaedics and Spine | Other                      
Disaggregation of Revenue [Line Items]                      
Net sales                 509,000 475,000 549,000
Orthopaedics and Spine | Other | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 346,000 354,000 425,000
Orthopaedics and Spine | Other | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 163,000 121,000 124,000
Orthopaedics and Spine | Knees                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,273,000 1,997,000 1,848,000
Orthopaedics and Spine | Knees | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,676,000 1,493,000 1,351,000
Orthopaedics and Spine | Knees | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 597,000 504,000 497,000
Orthopaedics and Spine | Hips                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,544,000 1,413,000 1,342,000
Orthopaedics and Spine | Hips | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 988,000 896,000 822,000
Orthopaedics and Spine | Hips | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 556,000 517,000 520,000
Orthopaedics and Spine | Trauma and Extremities                      
Disaggregation of Revenue [Line Items]                      
Net sales                 3,147,000 2,807,000 2,664,000
Orthopaedics and Spine | Trauma and Extremities | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 2,297,000 2,035,000 1,866,000
Orthopaedics and Spine | Trauma and Extremities | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 850,000 772,000 798,000
Orthopaedics and Spine | Spine                      
Disaggregation of Revenue [Line Items]                      
Net sales                 1,189,000 1,146,000 1,167,000
Orthopaedics and Spine | Spine | United States                      
Disaggregation of Revenue [Line Items]                      
Net sales                 883,000 836,000 831,000
Orthopaedics and Spine | Spine | International                      
Disaggregation of Revenue [Line Items]                      
Net sales                 $ 306,000 $ 310,000 $ 336,000
v3.24.0.1
Revenue Recognition - Changes in Contract Liabilities (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Movement In Contract Liabilities [Roll Forward]  
Beginning contract liabilities $ 741
Revenue recognized from beginning of year contract liabilities (379)
Net advance consideration received during the period 498
Ending contract liabilities $ 860
v3.24.0.1
Fair Value Measurements (Valuation Of Financial Instruments By Pricing Categories) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Assets    
Available-for-sale marketable securities: $ 82 $ 84
Total assets measured at fair value 3,378 2,213
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Total liabilities measured at fair value 595 389
(Level 1)    
Assets    
Available-for-sale marketable securities 2,971 1,844
Trading marketable securities 209 166
Total assets measured at fair value 3,180 2,010
Liabilities:    
Deferred compensation arrangements 209 166
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Total liabilities measured at fair value 209 166
(Level 2)    
Assets    
Available-for-sale marketable securities: 82 84
Total assets measured at fair value 198 203
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Total liabilities measured at fair value 97 102
(Level 2) | Corporate and asset-backed debt securities    
Assets    
Available-for-sale marketable securities: 43 42
(Level 2) | Foreign government debt securities    
Assets    
Available-for-sale marketable securities: 0 1
(Level 2) | United States agency debt securities    
Assets    
Available-for-sale marketable securities: 4 3
(Level 2) | United States treasury debt securities    
Assets    
Available-for-sale marketable securities: 31 36
(Level 2) | Certificates of deposit    
Assets    
Available-for-sale marketable securities: 4 2
(Level 2) | Foreign currency exchange forward contracts    
Assets    
Foreign currency exchange forward contracts 116 119
Interest rate swap asset 116 119
Liabilities:    
Foreign currency exchange forward contracts 97 102
(Level 3)    
Contingent Consideration Arrangements, Change in Amount of Contingent Consideration [Abstract]    
Beginning 121 306
Additions 192 1
Change in estimate and foreign exchange (2) (137)
Settlements (22) (49)
Ending 289 121
Total liabilities measured at fair value $ 289 $ 121
v3.24.0.1
Fair Value Measurements (Available-For-Sale Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Fair Value Disclosures [Abstract]    
Due in one year or less $ 46 $ 53
Due after one year through three years $ 36 $ 31
v3.24.0.1
Fair Value Measurements (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jun. 30, 2023
May 02, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Reduction of contingent consideration   $ 110      
Interest income $ 75 $ 25 $ 15    
Cerus          
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]          
Fair value of contingent consideration       $ 192 $ 192
v3.24.0.1
Derivative Instruments (Forward Currency Exchange Contracts) (Details) - Foreign currency exchange forward contracts
$ in Millions, € in Billions
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2023
EUR (€)
Dec. 31, 2022
EUR (€)
Derivative [Line Items]        
Notional amount $ 7,627 $ 6,068    
Maximum term 2 years 10 months 24 days 3 years 10 months 24 days    
Derivative, fair value, net $ 19 $ 17    
Other current assets        
Derivative [Line Items]        
Derivative asset 114 29    
Other noncurrent assets        
Derivative [Line Items]        
Derivative asset 2 90    
Other current liabilities        
Derivative [Line Items]        
Derivative liability (52) (85)    
Other noncurrent liabilities        
Derivative [Line Items]        
Derivative liability (45) (17)    
Designated as Hedging Instrument | Other noncurrent liabilities        
Derivative [Line Items]        
Derivative liability   (16)    
Not Designated as Hedging Instrument        
Derivative [Line Items]        
Notional amount 4,315 3,417    
Derivative, fair value, net (20) (70)    
Not Designated as Hedging Instrument | Other current assets        
Derivative [Line Items]        
Derivative asset 16 9    
Not Designated as Hedging Instrument | Other noncurrent assets        
Derivative [Line Items]        
Derivative asset 0 0    
Not Designated as Hedging Instrument | Other current liabilities        
Derivative [Line Items]        
Derivative liability (36) (79)    
Not Designated as Hedging Instrument | Other noncurrent liabilities        
Derivative [Line Items]        
Derivative liability 0 0    
Cash Flow Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Notional amount 1,650 1,053    
Derivative, fair value, net 8 14    
Cash Flow Hedging | Designated as Hedging Instrument | Other current assets        
Derivative [Line Items]        
Derivative asset 24 20    
Cash Flow Hedging | Designated as Hedging Instrument | Other noncurrent assets        
Derivative [Line Items]        
Derivative asset 2 1    
Cash Flow Hedging | Designated as Hedging Instrument | Other current liabilities        
Derivative [Line Items]        
Derivative liability (16) (6)    
Cash Flow Hedging | Designated as Hedging Instrument | Other noncurrent liabilities        
Derivative [Line Items]        
Derivative liability (2) (1)    
Net Investment Hedging | Designated as Hedging Instrument        
Derivative [Line Items]        
Notional amount 1,662 1,598 € 1.5 € 1.5
Derivative, fair value, net 31 73    
Net Investment Hedging | Designated as Hedging Instrument | Other current assets        
Derivative [Line Items]        
Derivative asset 74 0    
Net Investment Hedging | Designated as Hedging Instrument | Other noncurrent assets        
Derivative [Line Items]        
Derivative asset 0 89    
Net Investment Hedging | Designated as Hedging Instrument | Other current liabilities        
Derivative [Line Items]        
Derivative liability 0 $ 0    
Net Investment Hedging | Designated as Hedging Instrument | Other noncurrent liabilities        
Derivative [Line Items]        
Derivative liability $ (43)      
v3.24.0.1
Derivative Instruments (Narrative) (Details)
$ in Millions
 5 Months Ended 12 Months Ended
Dec. 31, 2023
EUR (€)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2023
EUR (€)
Nov. 30, 2023
EUR (€)
Dec. 31, 2022
EUR (€)
Derivative Instruments, Gain (Loss) [Line Items]              
Proceeds from settlement of net investment hedges   $ 0 $ 197 $ 0      
Senior Unsecured Notes, 1.125%, due 2023 | Unsecured Debt              
Derivative Instruments, Gain (Loss) [Line Items]              
Debt face amount | €           € 550,000,000  
Foreign currency exchange forward contracts              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, notional amount   7,627 6,068        
Designated as Hedging Instrument | Foreign currency exchange forward contracts              
Derivative Instruments, Gain (Loss) [Line Items]              
After-tax gain (loss) recognized in AOCI related to designated net investment hedges   (215)          
Cash flow hedge gain (loss) to be reclassified within twelve months   26          
Net investment hedges expected to be reclassified to cost of sales and other income (expense)   27          
Designated as Hedging Instrument | Foreign currency exchange forward contracts | Net Investment Hedging              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, notional amount   1,662 $ 1,598   € 1,500,000,000   € 1,500,000,000
Designated as Hedging Instrument | Interest rate swap              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, notional amount   200          
Cash flow hedge gain (loss) to be reclassified within twelve months   $ 4          
Designated as Hedging Instrument | Embedded Derivative Financial Instruments | Net Investment Hedging              
Derivative Instruments, Gain (Loss) [Line Items]              
Derivative, notional amount | €         € 4,900,000,000   € 4,400,000,000
Increase (decrease) of derivative | € € 1,100,000,000            
v3.24.0.1
Derivative Instruments (Movements out of OCI) (Details) - Foreign currency exchange forward contracts - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative [Line Items]      
Foreign currency transaction gains (losses) $ 98 $ 92 $ 31
Cost of sales      
Derivative [Line Items]      
Foreign currency transaction gains (losses) 39 23 (12)
Designated as Hedging Instrument      
Derivative [Line Items]      
Derivatives used in Net Investment Hedge, Gain (Loss), Reclassified to Earnings, Net of Tax 27    
Designated as Hedging Instrument | Other income (expense), net      
Derivative [Line Items]      
Foreign currency transaction gains (losses) 34 39 35
Not Designated as Hedging Instrument | Other income (expense), net      
Derivative [Line Items]      
Foreign currency transaction gains (losses) $ 25 $ 30 $ 8
v3.24.0.1
Accumulated Other Comprehensive (Loss) Income (AOCI) (Schedule of Amounts Recognized in Other Comprehensive Income (Loss)) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Accumulated Other Comprehensive Income (Loss), Beginning of Period $ (221) $ (531)  
OCI (196) 539  
Income taxes 66 (173)  
Cost of sales 7,440 6,871 $ 6,140
Other (income) expense, net (215) (158) (303)
Income taxes 508 325 287
Other comprehensive income (loss) (195) 310 626
Accumulated Other Comprehensive Income (Loss), End of Period (416) (221) (531)
Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales (39) (23)  
Other (income) expense, net (44) (36)  
Income taxes 18 3  
Other comprehensive income (loss) (195) 310  
Marketable Securities      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Accumulated Other Comprehensive Income (Loss), Beginning of Period (1) 0  
OCI 1 (1)  
Income taxes 0 0  
Accumulated Other Comprehensive Income (Loss), End of Period 0 (1) 0
Marketable Securities | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales 0 0  
Other (income) expense, net 0 0  
Income taxes 0 0  
Other comprehensive income (loss) 1 (1)  
Pension Plans      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Accumulated Other Comprehensive Income (Loss), Beginning of Period 31 (155)  
OCI (67) 244  
Income taxes 12 (64)  
Accumulated Other Comprehensive Income (Loss), End of Period (28) 31 (155)
Pension Plans | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales 0 0  
Other (income) expense, net (5) 8  
Income taxes 1 (2)  
Other comprehensive income (loss) (59) 186  
Hedges      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Accumulated Other Comprehensive Income (Loss), Beginning of Period 52 40  
OCI 27 43  
Income taxes (5) 1  
Accumulated Other Comprehensive Income (Loss), End of Period 39 52 40
Hedges | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales (39) (23)  
Other (income) expense, net (5) (5)  
Income taxes 9 (4)  
Other comprehensive income (loss) (13) 12  
Financial Statement Translation      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Accumulated Other Comprehensive Income (Loss), Beginning of Period (303) (416)  
OCI (157) 253  
Income taxes 59 (110)  
Accumulated Other Comprehensive Income (Loss), End of Period (427) (303) $ (416)
Financial Statement Translation | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]      
Cost of sales 0 0  
Other (income) expense, net (34) (39)  
Income taxes 8 9  
Other comprehensive income (loss) $ (124) $ 113  
v3.24.0.1
Acquisitions (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
May 02, 2023
Feb. 28, 2022
Dec. 31, 2020
Nov. 30, 2020
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jun. 30, 2023
Business Acquisition [Line Items]                
Cash paid for acquisitions, net of cash acquired         $ 390 $ 2,563 $ 339  
Repayments of long-term debt         2,058 $ 653 $ 1,151  
Vocera                
Business Acquisition [Line Items]                
Aggregate purchase price of acquisitions   $ 2,600            
Consideration transferred, price per share (in dollars per share)   $ 79.25            
Purchase price of acquisitions, including convertible notes   $ 3,000            
Share-based payment expense         $ 132      
Vocera | 1.50% Convertible Notes                
Business Acquisition [Line Items]                
Stated interest rate       1.50%        
Repayments of long-term debt       $ 101        
Vocera | 0.50% Convertible Notes                
Business Acquisition [Line Items]                
Stated interest rate           0.50%    
Repayments of long-term debt     $ 324          
Cerus                
Business Acquisition [Line Items]                
Aggregate purchase price of acquisitions $ 289              
Business acquisition, future milestone payments (up to) 225              
Fair value of contingent consideration $ 192             $ 192
v3.24.0.1
Acquisitions (Allocation Of The Preliminary Purchase Price To The Acquired Net Assets Of Acquisitions) (Details) - USD ($)
$ in Millions
 1 Months Ended
May 02, 2023
Feb. 28, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Business Acquisition [Line Items]          
Goodwill     $ 15,243 $ 14,880 $ 12,918
Cerus          
Business Acquisition [Line Items]          
Accounts receivable $ 1        
Deferred income tax assets 2        
Inventory 2        
Other assets 1        
Debt 0        
Deferred income tax liabilities (60)        
Other liabilities (22)        
Goodwill 317        
Purchase price, net of cash acquired of $7 and $281 481        
Cash Acquired from Acquisition 7        
Cerus | Customer and distributor relationships          
Business Acquisition [Line Items]          
Intangible assets: 0        
Cerus | Developed technology          
Business Acquisition [Line Items]          
Intangible assets: $ 240        
Weighted-average amortization period at acquisition (years): 13 years        
Cerus | Trade name          
Business Acquisition [Line Items]          
Intangible assets: $ 0        
Vocera          
Business Acquisition [Line Items]          
Accounts receivable   $ 33      
Deferred income tax assets   91      
Inventory   13      
Other assets   92      
Debt   (425)      
Deferred income tax liabilities   (193)      
Other liabilities   (117)      
Goodwill   2,273      
Purchase price, net of cash acquired of $7 and $281   2,563      
Cash Acquired from Acquisition   281      
Vocera | Customer and distributor relationships          
Business Acquisition [Line Items]          
Intangible assets:   603      
Vocera | Developed technology          
Business Acquisition [Line Items]          
Intangible assets:   $ 175      
Weighted-average amortization period at acquisition (years):   6 years      
Vocera | Trade name          
Business Acquisition [Line Items]          
Intangible assets:   $ 18      
Vocera | Customer Relationships [Member]          
Business Acquisition [Line Items]          
Weighted-average amortization period at acquisition (years):   15 years      
Vocera | Trademarks          
Business Acquisition [Line Items]          
Weighted-average amortization period at acquisition (years):   9 years      
v3.24.0.1
Contingencies and Commitments (Narrative) (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Lease expense   $ 172 $ 149 $ 133
PureWick        
Charges during period $ 28      
Recall Matters        
Charges during period   85    
Estimate of possible loss   $ 292    
v3.24.0.1
Commitments and Contingencies (Lease Cost) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]    
Right-of-use assets $ 494 $ 473
Lease liabilities, current 143 121
Lease liabilities, noncurrent $ 356 $ 357
Weighted-average remaining lease term (years) 5 years 6 months 5 years 6 months
Weighted-average discount rate 3.87% 3.22%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other Assets, Noncurrent Other Assets, Noncurrent
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other Liabilities, Current Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other noncurrent liabilities Other noncurrent liabilities
v3.24.0.1
Contingencies and Commitments (Future Purchase Obligations and Minimum Lease Payments) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
2024 $ 2,097
2025 1,400
2026 1,000
2027 831
2028 2,751
Thereafter 5,001
Purchase obligations  
2024 2,349
2025 213
2026 83
2027 65
2028 20
Thereafter 20
Minimum lease payments  
2024 150
2025 108
2026 87
2027 56
2028 41
Thereafter $ 78
v3.24.0.1
Goodwill and Other Intangible Assets (Goodwill) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Goodwill [Line Items]      
Goodwill $ 15,243 $ 14,880 $ 12,918
Goodwill impairment 0 216 0
Goodwill [Roll Forward]      
Goodwill, Beginning balance 14,880 12,918  
Additions and adjustments 301 2,320  
Foreign exchange and other 62 (142)  
Goodwill impairment 0 (216) 0
Goodwill, Ending balance 15,243 14,880 12,918
Spine Reporting Unit      
Goodwill [Line Items]      
Goodwill 1,034    
Goodwill [Roll Forward]      
Goodwill, Ending balance 1,034    
MedSurg and Neurotechnology      
Goodwill [Line Items]      
Goodwill 8,270 7,935 5,669
Goodwill impairment   0  
Goodwill [Roll Forward]      
Goodwill, Beginning balance 7,935 5,669  
Additions and adjustments 301 2,320  
Foreign exchange and other 34 (54)  
Goodwill impairment   0  
Goodwill, Ending balance 8,270 7,935 5,669
Orthopaedics and Spine      
Goodwill [Line Items]      
Goodwill 6,973 6,945 7,249
Goodwill impairment   216  
Goodwill [Roll Forward]      
Goodwill, Beginning balance 6,945 7,249  
Additions and adjustments 0 0  
Foreign exchange and other 28 (88)  
Goodwill impairment   (216)  
Goodwill, Ending balance $ 6,973 $ 6,945 $ 7,249
v3.24.0.1
Goodwill and Other Intangible Assets (Summary of the Company's Other Intangible Assets) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]      
Goodwill impairment $ 0 $ 216 $ 0
Acquired Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 9,549 9,181  
Less Accumulated Amortization 4,956 4,296  
Net Carrying Amount 4,593 4,885  
Developed technologies      
Acquired Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 5,769 5,440  
Less Accumulated Amortization 2,815 2,363  
Net Carrying Amount 2,954 3,077  
Customer relationships      
Acquired Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 2,907 2,847  
Less Accumulated Amortization 1,504 1,322  
Net Carrying Amount 1,403 1,525  
Patents      
Acquired Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 329 343  
Less Accumulated Amortization 302 297  
Net Carrying Amount 27 46  
Trademarks      
Acquired Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 427 425  
Less Accumulated Amortization 246 220  
Net Carrying Amount 181 205  
In-process research and development      
Acquired Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 21 21  
Less Accumulated Amortization 0 0  
Net Carrying Amount 21 21  
Other      
Acquired Finite-Lived Intangible Assets [Line Items]      
Gross Carrying Amount 96 105  
Less Accumulated Amortization 89 94  
Net Carrying Amount $ 7 $ 11  
v3.24.0.1
Goodwill and Other Intangible Assets (Estimated Amortization Expense) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2024 $ 622
2025 587
2026 530
2027 510
2028 $ 462
v3.24.0.1
Capital Stock (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Capital Stock [Line Items]      
Common and Preferred Stock, shares authorized (in shares) 1,000,500,000    
Preferred stock, shares authorized 500,000    
Preferred stock, par per share $ 1    
Common stock, authorized (in shares) 1,000,000,000    
Common stock, par value (in dollars per share) $ 0.10 $ 0.10  
Preferred stock, outstanding (in shares) 0    
Remaining shares authorized to be repurchased $ 1,033    
Capital shares reserved for future issuance 20,000,000 23,000,000  
Aggregate intrinsic value of options exercised $ 318 $ 218 $ 253
Options exercised during period, exercise price range, lower range limit $ 77.75    
Options exercised during period, exercise price range, upper range limit $ 287.14    
Compensation cost not yet recognized $ 135    
Compensation cost not yet recognized, period for recognized 1 year 7 months 6 days    
Restricted Stock Units (RSUs)      
Capital Stock [Line Items]      
Compensation cost not yet recognized $ 81    
Compensation cost not yet recognized, period for recognized 1 year    
Weighted average grant date fair value, Granted (in dollars per share) $ 257.09 $ 239.76  
Shares vested during the period $ 74    
Performance Stock Units (PSUs)      
Capital Stock [Line Items]      
Compensation cost not yet recognized $ 19    
Compensation cost not yet recognized, period for recognized 1 year    
Weighted average grant date fair value, Granted (in dollars per share) $ 255.27    
Shares vested during the period $ 10    
Employee Stock Purchase Plans      
Capital Stock [Line Items]      
Percentage of closing stock price under ESPP 95.00%    
Shares issued under the ESPP 190,524 221,387  
v3.24.0.1
Capital Stock (Option Grant Assumptions) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Capital Stock [Abstract]      
Weighted-average fair value per share $ 83.59 $ 68.08 $ 53.35
Risk-free interest rate 4.00% 1.80% 0.80%
Expected dividend yield 1.20% 1.00% 1.20%
Expected stock price volatility 29.00% 27.00% 26.90%
Expected option life (years) 6 years 2 months 12 days 5 years 10 months 24 days 5 years 10 months 24 days
v3.24.0.1
Capital Stock (Summary of Stock Option Activity) (Details)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]  
Shares, Options outstanding at January 1 (in shares) | shares 12.1
Shares, Granted (in shares) | shares 1.6
Shares, Exercised (in shares) | shares (2.0)
Shares, Cancelled or forfeited (in shares) | shares (0.2)
Shares, Options outstanding at December 31 (in shares) | shares 11.5
Shares, Exercisable at December 31 (in shares) | shares 6.8
Shares, Options expected to vest (in shares) | shares 4.3
Weighted-Average Exercise Price  
Weighted average exercise price, Options outstanding at January 1 (in dollars per share) | $ / shares $ 168.80
Weighted average exercise price, Granted (in dollars per share) | $ / shares 268.28
Weighted average exercise price, Exercised (in dollars per share) | $ / shares 117.64
Weighted average exercise price, Cancelled or forfeited (in dollars per share) | $ / shares 235.73
Weighted average exercise price, Options outstanding at December 31 (in dollars per share) | $ / shares 189.70
Weighted average exercise price, Exercisable at December 31 (in dollars per share) | $ / shares 153.01
Weighted average exercise price, Options expected to vest (in dollars per share) | $ / shares $ 243.26
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]  
Weighted-average remaining contractual term, Options outstanding (in years) 5 years 4 months 24 days
Weighted-average remaining contractual term, Exercisable (in years) 3 years 1 month 6 days
Weighted-average remaining contractual term, Options expected to vest (in years) 7 years 9 months 18 days
Aggregate intrinsic value, Options outstanding | $ $ 1,257.1
Aggregate intrinsic value, Exercisable | $ 1,001.1
Aggregate intrinsic value, Options expected to vest | $ $ 242.2
v3.24.0.1
Capital Stock (Summary of RSU and PSU Activity) (Details) - $ / shares
shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Restricted Stock Units (RSUs)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]    
Shares, Nonvested at January 1 (in shares) 0.7  
Shares, Granted (in shares) 0.4  
Shares, Vested (in shares) (0.3)  
Shares, Cancelled (in shares) (0.1)  
Shares, Nonvested at December 31 (in shares) 0.7 0.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]    
Weighted average grant date fair value, Outstanding at January 1 (in dollars per share) $ 232.02  
Weighted average grant date fair value, Granted (in dollars per share) 257.09 $ 239.76
Weighted average grant date fair value, Vested (in dollars per share) 227.85  
Weighted average grant date fair value, Cancelled (in dollars per share) 244.09  
Weighted average grant date fair value, Outstanding at December 31 (in dollars per share) $ 246.98 $ 232.02
Performance Stock Units (PSUs)    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]    
Shares, Nonvested at January 1 (in shares) 0.2  
Shares, Granted (in shares) 0.1  
Shares, Vested (in shares) (0.1)  
Shares, Cancelled (in shares) 0.0  
Shares, Nonvested at December 31 (in shares) 0.2 0.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]    
Weighted average grant date fair value, Outstanding at January 1 (in dollars per share) $ 234.70  
Weighted average grant date fair value, Granted (in dollars per share) 255.27  
Weighted average grant date fair value, Vested (in dollars per share) 217.73  
Weighted average grant date fair value, Cancelled (in dollars per share) 217.73  
Weighted average grant date fair value, Outstanding at December 31 (in dollars per share) $ 250.17 $ 234.70
v3.24.0.1
Debt and Credit Facilities (Narrative) (Details)
 1 Months Ended 12 Months Ended
Aug. 31, 2023
EUR (€)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2023
EUR (€)
Dec. 31, 2023
USD ($)
Nov. 30, 2023
EUR (€)
Line of Credit Facility [Line Items]              
Commercial paper           $ 0  
Credit facility outstanding amount           0  
Interest expense, debt   $ 356,000,000 $ 337,000,000 $ 337,000,000      
Term Loan Due February 22, 2025              
Line of Credit Facility [Line Items]              
Repayments of debt   $ 850,000,000          
Debt face amount           1,500,000,000  
Floating Rate Senior Notes Due November 16, 2024 | Senior Notes              
Line of Credit Facility [Line Items]              
Debt face amount | € € 500,000,000            
Floating Rate Senior Notes Due November 16, 2024 | Euro Interbank Offered Rate | Senior Notes              
Line of Credit Facility [Line Items]              
Basis spread on variable rate 0.30%            
Senior Unsecured Notes, 1.125%, due 2023              
Line of Credit Facility [Line Items]              
Stated interest rate     1.125%        
Senior Unsecured Notes, 1.125%, due 2023 | Unsecured Debt              
Line of Credit Facility [Line Items]              
Debt face amount | €             € 550,000,000
Stated interest rate     1.125%        
Senior Unsecured Notes 0.600% due 2023              
Line of Credit Facility [Line Items]              
Stated interest rate     0.60%        
Senior Unsecured Notes 0.600% due 2023 | Unsecured Debt              
Line of Credit Facility [Line Items]              
Debt face amount           $ 600,000,000  
Stated interest rate     0.60%        
Senior Unsecured Notes 4.850% Due 2028              
Line of Credit Facility [Line Items]              
Stated interest rate         4.85% 4.85%  
Senior Unsecured Notes 4.850% Due 2028 | Unsecured Debt              
Line of Credit Facility [Line Items]              
Debt face amount           $ 600,000,000  
Stated interest rate         4.85% 4.85%  
Senior Unsecured Notes, 3.375% Due 2028              
Line of Credit Facility [Line Items]              
Stated interest rate         3.375% 3.375%  
Senior Unsecured Notes, 3.375% Due 2028 | Unsecured Debt              
Line of Credit Facility [Line Items]              
Debt face amount | €         € 600,000,000    
Stated interest rate         3.375% 3.375%  
Commercial Paper              
Line of Credit Facility [Line Items]              
Maximum borrowing capacity     $ 2,250,000,000 $ 1,500,000,000      
Debt term   397 days          
v3.24.0.1
Debt and Credit Facilities (Maturities Of Long-Term Debt Disclosures) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Other long-term debt $ 0 $ 7
Total debt 12,995 13,048
Current maturities of debt 2,094 1,191
Total long-term debt 10,901 11,857
Unamortized debt issuance costs 50 52
Borrowing capacity on existing facilities 2,160 2,162
Fair value of senior unsecured notes 12,252 $ 10,910
Senior Unsecured Notes, 1.125%, due 2023    
Stated interest rate   1.125%
Unsecured debt 0 $ 585
Senior Unsecured Notes 0.600% due 2023    
Stated interest rate   0.60%
Unsecured debt $ 0 $ 599
Senior Unsecured Notes 3.375% due 2024    
Stated interest rate 3.375%  
Unsecured debt $ 600 596
Senior Unsecured Notes, Due November 16, 2024    
Unsecured debt $ 554 0
Senior Unsecured Notes 0.250% due 2024    
Stated interest rate 0.25%  
Unsecured debt $ 940 903
Senior Unsecured Notes, 1.150% Due 2025    
Stated interest rate 1.15%  
Unsecured debt $ 648 647
Senior Unsecured Notes 3.375% due 2025    
Stated interest rate 3.375%  
Unsecured debt $ 749 748
Senior Unsecured Notes 3.500% due 2026    
Stated interest rate 3.50%  
Unsecured debt $ 997 995
Senior Unsecured Notes, 2.125%, due 2027    
Stated interest rate 2.125%  
Unsecured debt $ 828 795
Senior Unsecured Notes 3.650% due 2028    
Stated interest rate 3.65%  
Unsecured debt $ 598 597
Senior Unsecured Notes 4.850% Due 2028    
Stated interest rate 4.85%  
Unsecured debt $ 596 0
Senior Unsecured Notes, 3.375% Due 2028    
Stated interest rate 3.375%  
Unsecured debt $ 661 0
Senior Unsecured Notes 0.750% due 2029    
Stated interest rate 0.75%  
Unsecured debt $ 883 848
Senior Unsecured Notes, 1.950% Due 2030    
Stated interest rate 1.95%  
Unsecured debt $ 991 991
Senior Unsecured Notes, 2.625% due 2030    
Stated interest rate 2.625%  
Unsecured debt $ 713 684
Senior Unsecured Notes 1.000% due 2031    
Stated interest rate 1.00%  
Unsecured debt $ 823 790
Senior Unsecured Notes 4.10% due 2043    
Stated interest rate 4.10%  
Unsecured debt $ 393 392
Senior Unsecured Notes 4.375% due 2044    
Stated interest rate 4.375%  
Unsecured debt $ 396 396
Senior Unsecured Notes 4.625% due 2046    
Stated interest rate 4.625%  
Unsecured debt $ 983 983
Senior Unsecured Notes, 2.900% due 2050    
Stated interest rate 2.90%  
Unsecured debt $ 642 642
Term Loan    
Long-term debt $ 0 $ 850
v3.24.0.1
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Contingency [Line Items]      
Effective income tax, percent 13.80% 12.10% 12.60%
Interest expense and penalties included in other income (expense), net $ (1) $ 71 $ (23)
Net operating loss carryforward recognized 189 56 $ 283
Accrued interest and penalties 67 66  
Tax credit carryforward, amount 208    
Tax credit carryforward, valuation allowance 79    
Undistributed earnings of foreign subsidiaries 11,000    
Repatriation of foreign earnings reversed   71  
Unrecognized tax benefits, interest on income tax expense 248 $ 289  
Tax settlement amount 162    
Tax settlement, release of accrued interest 50    
Federal      
Income Tax Contingency [Line Items]      
Operating loss carryforwards 254    
Deferred tax assets, operating loss carryforwards 53    
Operating loss carryforwards, subject to full valuation allowance 2    
State      
Income Tax Contingency [Line Items]      
Operating loss carryforwards 3,006    
Deferred tax assets, operating loss carryforwards 74    
Operating loss carryforwards, subject to full valuation allowance 47    
International      
Income Tax Contingency [Line Items]      
Operating loss carryforwards 259    
Deferred tax assets, operating loss carryforwards 66    
Operating loss carryforwards, subject to full valuation allowance $ 63    
v3.24.0.1
Income Taxes (Schedule of Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Income Tax Rate from Continuing Operations) (Details)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
United States federal statutory rate 21.00% 21.00% 21.00%
United States state and local income taxes, less federal deduction 1.10% 2.00% 2.70%
Foreign income tax at rates other than 21% (6.80%) (4.10%) (6.90%)
Tax related to repatriation of foreign earnings 1.20% (2.40%) 1.40%
Intellectual property transfers (3.30%) 0.10% (2.30%)
United States federal audit settlement 0.00% (6.10%) 0.00%
Goodwill impairment 0.00% 1.70% 0.00%
Other 0.60% (0.10%) (3.30%)
Effective income tax rate 13.80% 12.10% 12.60%
v3.24.0.1
Income Taxes (Schedule of Earnings before Income Taxes) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]                      
United States                 $ 701 $ 407 $ 433
International                 2,972 2,276 1,848
Earnings before income taxes $ 1,226 $ 869 $ 899 $ 679 $ 761 $ 816 $ 720 $ 386 $ 3,673 $ 2,683 $ 2,281
v3.24.0.1
Income Taxes (Schedule of Provision for Income Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Current income tax expense (benefit):      
United States federal $ 236 $ (76) $ 155
United States state and local 48 64 97
International 430 279 272
Total current income tax expense 714 267 524
Deferred income tax expense (benefit):      
United States federal (212) (179) (82)
United States state and local (20) (30) (23)
International 26 267 (132)
Total deferred income tax expense (benefit) (206) 58 (237)
Total income tax expense $ 508 $ 325 $ 287
v3.24.0.1
Income Taxes (Schedule of Difference in Income Tax Effects Comprising Company's Deferred Income Tax Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Deferred income tax assets:    
Inventories $ 521 $ 516
Other accrued expenses 253 155
Depreciation and amortization 918 1,038
State income taxes 150 153
Share-based compensation 86 73
Research and development capitalization 295 204
International interest expense carryforwards 46 135
Net operating loss and credit carryforwards 385 247
Other 235 191
Total deferred income tax assets 2,889 2,712
Less valuation allowances (223) (285)
Net deferred income tax assets 2,666 2,427
Deferred income tax liabilities:    
Depreciation and amortization (1,012) (1,037)
Undistributed earnings (47) (47)
Total deferred income tax liabilities (1,059) (1,084)
Net deferred income tax assets 1,607 1,343
Noncurrent deferred income tax assets 1,670 1,410
Noncurrent liabilities—Other liabilities $ (63) $ (67)
v3.24.0.1
Income Taxes (Schedule of Unresolved Income Tax Positions) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]    
Beginning uncertain tax positions $ 286 $ 444
Increases related to current year income tax positions 102 17
Increases related to prior year income tax positions 10 34
Decreases related to prior year income tax positions (33) (178)
Settlements of income tax audits (1) (13)
Statute of limitations expirations and other 0 (6)
Foreign currency translation 7  
Foreign currency translation   (12)
Ending uncertain tax positions $ 371 $ 286
v3.24.0.1
Retirement Plans (Schedule of Defined Contribution Plan Disclosures) (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Retirement Benefits [Abstract]      
Plan expense $ 327 $ 305 $ 259
Expense funded with Stryker common stock 57 41 37
Stryker common stock held by plan, amount $ 649 $ 522 $ 582
Stryker common stock held by plan, shares 2.2 2.1 2.2
Stryker common stock held by plan, value as a percentage of total plan assets 10.00% 10.00% 10.00%
v3.24.0.1
Retirement Plans (Schedule of Funded Status and Components of the Amounts Recognized in the Consolidated Balance Sheets and in Accumulated Other Comprehensive Gain (Loss), Before the Effect of Income Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Components of Net Periodic Pension Cost      
Service cost $ (32) $ (56) $ (72)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement Of Income Or Comprehensive Income, Extensible List, Not Disclosed Flag Interest cost Interest cost Interest cost
Interest cost $ (23) $ (10) $ (7)
Expected return on plan assets 18 15 11
Amortization of prior service cost and transition amount 1 1 1
Recognized actuarial loss 4 (9) (16)
Curtailment gain     9
Net periodic benefit cost (32) (59) (74)
Net actuarial gain (loss) (67) 244 132
Recognized net actuarial loss (4) 9 16
Prior service cost and transition amount (1) (1) (1)
Curtailment gain   0 (9)
Total recognized in OCI (72) 252 138
Total recognized in net periodic benefit cost and OCI $ (104) $ 193 $ 64
Defined Benefit Plan, Assumptions Used in Calculations [Abstract]      
Discount rate 3.30% 1.10% 0.80%
Expected return on plan assets 4.20% 3.10% 2.50%
Expected return on plan assets 3.00% 2.60% 2.60%
Weighted-average discount rate used to determine projected benefit obligations 2.80% 3.30% 1.10%
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Fair value of plan assets $ 485 $ 420  
Benefit obligations (826) (673) $ (1,036)
Funded status (341) (253)  
Total (28) 44  
Accrued Compensation      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Funded status (3) (3)  
Other noncurrent assets      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Funded status 21 21  
Other noncurrent liabilities      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Funded status (359) (271)  
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent      
Defined Benefit Plan, Information about Plan Assets [Abstract]      
Unrecognized net actuarial gain (loss) (39) 33  
Unrecognized prior service credit $ 11 $ 11  
v3.24.0.1
Retirement Plans (Schedule of Change in Benefit Obligations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]      
Beginning projected benefit obligations $ 673 $ 1,036  
Service cost 32 56 $ 72
Interest cost 23 10 7
Foreign exchange impact 32 (56)  
Employee contributions 7 5  
Actuarial (gains) losses 79 (354)  
Benefits paid (20) (24)  
Ending projected benefit obligations 826 673 $ 1,036
Ending accumulated benefit obligations $ 790 $ 645  
v3.24.0.1
Retirement Plans (Change in Plan Assets) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]    
Beginning fair value of plan assets $ 420 $ 543
Actual return 29 (109)
Employer contributions 23 19
Employee contributions 7 5
Foreign exchange impact 22 (24)
Benefits paid (16) (14)
Ending fair value of plan assets $ 485 $ 420
v3.24.0.1
Retirement Plans (Schedule of Target and Actual Allocation of Plan Assets) (Details)
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 100.00%  
Actual plan asset allocations 100.00% 100.00%
Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 25.00%  
Actual plan asset allocations 28.00% 27.00%
Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 41.00%  
Actual plan asset allocations 37.00% 38.00%
Other    
Defined Benefit Plan Disclosure [Line Items]    
Target plan asset allocations 34.00%  
Actual plan asset allocations 35.00% 35.00%
v3.24.0.1
Retirement Plans (Schedule of Valuation of the Company's Pension Plan Assets by Pricing Categories) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 485 $ 420
(Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 42 46
(Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 378 319
(Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 65 55
Cash and cash equivalents    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 15 18
Cash and cash equivalents | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 15 18
Cash and cash equivalents | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Cash and cash equivalents | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 150 120
Equity securities | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 20 21
Equity securities | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 130 99
Equity securities | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Corporate debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 187 153
Corporate debt securities | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 2 2
Corporate debt securities | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 185 151
Corporate debt securities | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Other    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 133 129
Other | (Level 1)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 5 5
Other | (Level 2)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 63 69
Other | (Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 65 $ 55
v3.24.0.1
Retirement Plans (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]    
Actual return $ 29 $ (109)
(Level 3)    
Defined Benefit Plan Disclosure [Line Items]    
Actual return 10  
Estimated future employer contributions in next fiscal year $ 24  
v3.24.0.1
Retirement Plans (Expected Benefit Payments) (Details)
$ in Millions
Dec. 31, 2023
USD ($)
Retirement Benefits [Abstract]  
2024 $ 23
2025 24
2026 24
2027 26
2028 28
2028-2032 $ 164
v3.24.0.1
Summary of Quarterly Data (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Quarterly Financial Data [Abstract]                      
Net sales $ 5,815,000 $ 4,909,000 $ 4,996,000 $ 4,778,000 $ 5,202,000 $ 4,479,000 $ 4,493,000 $ 4,275,000 $ 20,498,000 $ 18,449,000 $ 17,108,000
Gross profit 3,703,000 3,158,000 3,181,000 3,016,000 3,236,000 2,782,000 2,826,000 2,734,000 13,058,000 11,578,000 10,968,000
Earnings before income taxes 1,226,000 869,000 899,000 679,000 761,000 816,000 720,000 386,000 3,673,000 2,683,000 2,281,000
Net earnings $ 1,143,000 $ 692,000 $ 738,000 $ 592,000 $ 563,000 $ 816,000 $ 656,000 $ 323,000 $ 3,165,000 $ 2,358,000 $ 1,994,000
Basic net earnings per share of common stock (in dollars per share) $ 3.01 $ 1.82 $ 1.95 $ 1.56 $ 1.48 $ 2.16 $ 1.73 $ 0.86 $ 8.34 $ 6.23 $ 5.29
Diluted net earnings per share of common stock (in dollars per share) 2.98 1.80 1.93 1.54 1.47 2.14 1.72 0.84 $ 8.25 $ 6.17 $ 5.21
Dividends declared per share of common stock (in dollars per share) $ 0.80 $ 0.75 $ 0.75 $ 0.75 $ 0.750 $ 0.695 $ 0.695 $ 0.695      
v3.24.0.1
Segment and Geographic Data (Sales And Other Financial Information By Business Segment) (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
segment
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Segment Reporting [Abstract]                      
Number of reportable segments | segment                 2    
Segment Reporting Information [Line Items]                      
Number of reportable segments | segment                 2    
Net sales $ 5,815,000 $ 4,909,000 $ 4,996,000 $ 4,778,000 $ 5,202,000 $ 4,479,000 $ 4,493,000 $ 4,275,000 $ 20,498,000 $ 18,449,000 $ 17,108,000
Depreciation and amortization                 1,341,000 1,278,000 1,272,000
Segment net earnings (loss)                 3,888,000 2,841,000 2,584,000
Amortization of intangible assets                 (635,000) (627,000) (619,000)
Goodwill impairment                 0 (216,000) 0
Net earnings $ 1,143,000 $ 692,000 $ 738,000 $ 592,000 $ 563,000 $ 816,000 $ 656,000 $ 323,000 3,165,000 2,358,000 1,994,000
MedSurg and Neurotechnology                      
Segment Reporting Information [Line Items]                      
Net sales                 11,836,000 10,611,000 9,538,000
Goodwill impairment                   0  
Orthopaedics and Spine                      
Segment Reporting Information [Line Items]                      
Net sales                 8,662,000 7,838,000 7,570,000
Goodwill impairment                   (216,000)  
Operating Segments                      
Segment Reporting Information [Line Items]                      
Depreciation and amortization                 1,201,000 1,154,000 1,147,000
Segment operating income                 5,735,000 5,033,000 4,987,000
Operating Segments | MedSurg and Neurotechnology                      
Segment Reporting Information [Line Items]                      
Net sales                 11,836,000 10,611,000 9,538,000
Depreciation and amortization                 564,000 540,000 518,000
Segment net earnings (loss)                 3,336,000 2,737,000 2,807,000
Operating Segments | Orthopaedics and Spine                      
Segment Reporting Information [Line Items]                      
Net sales                 8,662,000 7,838,000 7,570,000
Depreciation and amortization                 637,000 614,000 629,000
Segment net earnings (loss)                 2,399,000 2,296,000 2,180,000
Corporate and Other                      
Segment Reporting Information [Line Items]                      
Depreciation and amortization                 140,000 124,000 125,000
Segment operating income                 (780,000) (649,000) (605,000)
Segment Reconciling Items                      
Segment Reporting Information [Line Items]                      
Acquisition and integration-related charges                 (20,000) (150,000) (585,000)
Structural optimization and other special charges                 (206,000) (349,000) (386,000)
Medical device regulations                 (96,000) (140,000) (107,000)
Recall-related matters                 (18,000) 15,000 (103,000)
Regulatory and legal matters                 (92,000) (76,000) 2,000
Net earnings                 $ 3,888,000 $ 2,841,000 $ 2,584,000
v3.24.0.1
Segment and Geographic Data (Segment Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]      
Assets $ 39,912 $ 36,884  
Capital Expenditures During Period 575 588 $ 525
Operating Segments      
Segment Reporting Information [Line Items]      
Assets 38,827 35,953  
Capital Expenditures During Period 362 348 362
Operating Segments | MedSurg and Neurotechnology      
Segment Reporting Information [Line Items]      
Assets 20,514 18,487  
Capital Expenditures During Period 179 173 197
Operating Segments | Orthopaedics and Spine      
Segment Reporting Information [Line Items]      
Assets 18,313 17,466  
Capital Expenditures During Period 183 175 165
Corporate and Other      
Segment Reporting Information [Line Items]      
Assets 1,085 931  
Capital Expenditures During Period $ 213 $ 240 $ 163
v3.24.0.1
Segment and Geographic Data (Geographic Information on Net Sales and Long-Lived Assets) (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting Information [Line Items]                      
Net sales $ 5,815,000 $ 4,909,000 $ 4,996,000 $ 4,778,000 $ 5,202,000 $ 4,479,000 $ 4,493,000 $ 4,275,000 $ 20,498,000 $ 18,449,000 $ 17,108,000
Net Property, Plant & Equipment 3,215,000       2,970,000       3,215,000 2,970,000  
United States                      
Segment Reporting Information [Line Items]                      
Net sales                 15,257,000 13,638,000 12,321,000
Net Property, Plant & Equipment 1,874,000       1,791,000       1,874,000 1,791,000  
Europe, Middle East, Africa                      
Segment Reporting Information [Line Items]                      
Net sales                 2,618,000 2,348,000 2,299,000
Net Property, Plant & Equipment 1,151,000       995,000       1,151,000 995,000  
Asia Pacific                      
Segment Reporting Information [Line Items]                      
Net sales                 1,946,000 1,885,000 1,973,000
Net Property, Plant & Equipment 77,000       76,000       77,000 76,000  
Other foreign countries                      
Segment Reporting Information [Line Items]                      
Net sales                 677,000 578,000 $ 515,000
Net Property, Plant & Equipment $ 113,000       $ 108,000       $ 113,000 $ 108,000  
v3.24.0.1
Asset Impairments (Details) - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Property, Plant and Equipment [Line Items]      
Asset impairments $ 0    
Long-Lived Assets and Intangible Assets      
Property, Plant and Equipment [Line Items]      
Asset impairments   $ 47,000,000 $ 105,000,000
In-Process R&D, Other Intangible Assets and Property, Plant and Equipment      
Property, Plant and Equipment [Line Items]      
Asset impairments     $ 159,000,000
v3.24.0.1
Schedule II Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Allowance, Notes Receivable - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]      
Balance at Beginning of Period $ 154 $ 167 $ 131
Charged to Costs & Expenses 69 41 61
Uncollectible Amounts Written Off, Net of Recoveries 40 52 23
Effect of Changes in Foreign Currency Exchange Rates 1 2 2
Balance at End of Period $ 182 $ 154 $ 167