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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 credit
Recognized actuarial gain (loss)(9)(16)
Curtailment gain— — 
Net periodic benefit cost$(32)$(59)$(74)
Changes in assets and benefit obligations recognized in OCI:
Net actuarial gain (loss)$(67)$244 $132 
Recognized net actuarial (gain) loss(4)16 
Prior service credit and transition amount(1)(1)(1)
Curtailment gain— — (9)
Total recognized in other comprehensive income (loss)$(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 contributions
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 contributions
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
185 — 187 
Other63 65 133 
Total$42 $378 $65 $485 
2022
Cash and cash equivalents$18 $— $— $18 
Equity securities21 99 — 120 
Corporate debt securities151 — 153 
Other69 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