XML 62 R36.htm IDEA: XBRL DOCUMENT
v3.22.4

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Retirement Benefits [Abstract] |
Defined Contribution Plan Disclosures |
| 2022 |  | 2021 |  | 2020
Plan expense | $ | 305 |  |  | $ | 259 |  |  | $ | 235 |
Expense funded with Stryker common stock | 41 |  |  | 37 |  |  | 34 |
Stryker common stock held by plan: |  |  |  |  |
Dollar amount | 522 |  |  | 582 |  |  | 542 |
Shares (in millions) | 2.1 |  |  | 2.2 |  |  | 2.2 |
Value as a percentage of total plan assets | 10 | % |  | 10 | % |  | 11 | %
Schedule of Costs of Retirement Plans |
Components of Net Periodic Pension Cost
Net periodic benefit cost: | 2022 |  | 2021 |  | 2020
Service cost | $ | (56) |  |  | $ | (72) |  |  | $ | (63) |
Interest cost | (10) |  |  | (7) |  |  | (8) |
Expected return on plan assets | 15 |  |  | 11 |  |  | 13 |
Amortization of prior service credit | 1 |  |  | 1 |  |  | 1 |
Recognized actuarial loss | (9) |  |  | (16) |  |  | (13) |
Curtailment gain | — |  |  | 9 |  |  | — |
Net periodic benefit cost | $ | (59) |  |  | $ | (74) |  |  | $ | (70) |
Changes in assets and benefit obligations recognized in OCI: |  |  |  |  |
Net actuarial gain (loss) | $ | 244 |  |  | $ | 132 |  |  | $ | (117) |
Recognized net actuarial loss | 9 |  |  | 16 |  |  | 13 |
Prior service credit and transition amount | (1) |  |  | (1) |  |  | (1) |
Curtailment gain | — |  |  | (9) |  |  | — |
Total recognized in other comprehensive income (loss) | $ | 252 |  |  | $ | 138 |  |  | $ | (105) |
Total recognized in net periodic benefit cost and OCI | $ | 193 |  |  | $ | 64 |  |  | $ | (175) |
Weighted-average rates used to determine net periodic benefit cost: |  |  |  |  |
Discount rate | 1.1 | % |  | 0.8 | % |  | 1.0 | %
Expected return on plan assets | 3.1 | % |  | 2.5 | % |  | 2.9 | %
Rate of compensation increase | 2.6 | % |  | 2.6 | % |  | 2.9 | %
Weighted-average discount rate used to determine projected benefit obligations | 3.3 | % |  | 1.1 | % |  | 0.8 | %
Schedule of Defined Benefit Plans Disclosures |
| 2022 |  | 2021
Fair value of plan assets | $ | 420 |  |  | $ | 543 |
Benefit obligations | (673) |  |  | (1,036) |
Funded status | $ | (253) |  |  | $ | (493) |
Reported as: |  |  |
Noncurrent assets—other assets | $ | 21 |  |  | $ | — |
Current liabilities—accrued compensation | (3) |  |  | (2) |
Noncurrent liabilities—other liabilities | (271) |  |  | (491) |
Pre-tax amounts recognized in AOCI: |  |  |
Unrecognized net actuarial gain (loss) | 33 |  |  | (215) |
Unrecognized prior service credit | 11 |  |  | 7 |
Total | $ | 44 |  |  | $ | (208) |
Schedule of Changes in Accumulated Postemployment Benefit Obligations |
Change in Benefit Obligations |  |  |
| 2022 |  | 2021
Beginning projected benefit obligations | $ | 1,036 |  |  | $ | 1,118 |
Service cost | 56 |  |  | 72 |
Interest cost | 10 |  |  | 7 |
Foreign exchange impact | (56) |  |  | (70) |
Employee contributions | 5 |  |  | 8 |
Actuarial (gains) losses | (354) |  |  | (71) |
Curtailment gain | — |  |  | (23) |
Benefits paid | (24) |  |  | (5) |
Ending projected benefit obligations | $ | 673 |  |  | $ | 1,036 |
Ending accumulated benefit obligations | $ | 645 |  |  | $ | 987 |
Schedule of Changes in Fair Value of Plan Assets |
Change in Plan Assets |  |  |
| 2022 |  | 2021
Beginning fair value of plan assets | $ | 543 |  |  | $ | 522 |
Actual return | (109) |  |  | 17 |
Employer contributions | 19 |  |  | 33 |
Employee contributions | 5 |  |  | 8 |
Foreign exchange impact | (24) |  |  | (29) |
Benefits paid | (14) |  |  | (8) |
Ending fair value of plan assets | $ | 420 |  |  | $ | 543 |
Valuation of Plan Assets
2022 | Level 1 | Level 2 | Level 3 | Total
Cash and cash equivalents | $ | 18 |  | $ | — |  | $ | — |  | $ | 18 |
Equity securities | 21 |  | 99 |  | — |  | 120 |
Corporate debt securities | 2 |  | 151 |  | — |  | 153 |
Other | 5 |  | 69 |  | 55 |  | 129 |
Total | $ | 46 |  | $ | 319 |  | $ | 55 |  | $ | 420 |
2021 |  |  |  |
Cash and cash equivalents | $ | 21 |  | $ | — |  | $ | — |  | $ | 21 |
Equity securities | 28 |  | 119 |  | — |  | 147 |
Corporate debt securities | 2 |  | 202 |  | — |  | 204 |
Other | 4 |  | 68 |  | 99 |  | 171 |
Total | $ | 55 |  | $ | 389 |  | $ | 99 |  | $ | 543 |
Schedule of Allocation of Plan Assets |
Allocation of Plan Assets
| 2023 Target |  | 2022 Actual |  | 2021 Actual
Equity securities | 25 | % |  | 27 | % |  | 23 | %
Debt securities | 41 |  |  | 38 |  |  | 41 |
Other | 34 |  |  | 35 |  |  | 36 |
Total | 100 | % |  | 100 | % |  | 100 | %
Schedule of Expected Benefit Payments |
Estimated Future Benefit Payments
2023 | 2024 | 2025 | 2026 | 2027 | 2028-2032
$ | 22 |  | $ | 26 |  | $ | 23 |  | $ | 23 |  | $ | 25 |  | $ | 146 |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of defined contribution pension plans or defined contribution other postretirement plans, separately for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 + Details
Name: | us-gaap_DefinedContributionPlanDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration