22 added · 24 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
In January 2026 the OECD released Administrative Guidance containing the Side-by- Side system (SbS System) and introduced two new Pillar 2 safe harbors for multinationals headquartered in jurisdictions including the United States with eligible tax systems.
Regulatory requirements and enforcement approaches may evolve, differ by jurisdiction, or change over time, including through the adoption, modification, interpretation, or enforcement Dollar amounts in millions except per share amounts or as otherwise specified. 12 STRYKER CORPORATION 2025 FORM 10-K of environmental laws and regulations.
For example, we received a final audit report and assessments from the German Federal Central Tax Office ("FCTO") related to audits of tax years 2010 through 2017.
On April 1, 2025, and December 16, 2025, we were informed by the DOJ and SEC, respectively, that each agency had closed its inquiry.
In addition, as disclosed in our prior filings, we were previously contacted by the SEC, the United States Department of Justice, and other regulatory authorities involving whether certain business activities in certain foreign countries violated provisions of the FCPA and analogous local laws.
Furthermore, there is no guarantee that we will satisfy the evolving and diverging expectations of our various stakeholders on corporate responsibility matters, and a failure to satisfy the expectations of any key stakeholder group could result in, among other things, reduced demand for our products, reduced profits, increased investigations and litigation and an increased risk of reputational damage.
Although we intend to defend our filing positions through the FCTO independent appeals process and, if necessary, litigation, there can be no assurance that we will be successful.
The safe harbors must now be legislated domestically by each country with enacted Pillar 2 legislation impacted by the new OECD Administrative Guidance.
For example, the United States has recently enacted and proposed to enact new tariffs.
If the resolution of this matter results in additional German income taxes, we intend to seek associated foreign tax credits, but such credits may not be available on a timely basis or at all, or may not fully offset any additional liability.
Physical weather events, as well as legal, regulatory or market measures related to environmental, climate and other sustainability matters, could adversely affect our operations and operating results: Weather-related events and evolving environmental conditions may result in operational, supply chain and infrastructure disruptions.
Such events, including hurricanes, tornadoes, wildfires, droughts, extreme temperatures, flooding, and other natural disasters, could damage our facilities and products, or those of our suppliers, disrupt manufacturing and distribution, reduce workforce availability, increase raw material and component costs, increase liabilities, or adversely affect the operations of hospitals, medical care facilities and other customers, any of which could negatively impact our results of operations.
No longer disclosed
Dollar amounts in millions except per share amounts or as otherwise specified. 4 STRYKER CORPORATION 2024 FORM 10-K • pricing pressures generally, including cost-containment measures that have adversely affected and could in the future adversely affect the price of or demand for our or Inari’s products; • changes in foreign currency exchange markets; • legislative and regulatory actions; • unanticipated issues arising in connection with clinical studies and otherwise that affect approval of new products, including Inari products, by the FDA and foreign regulatory agencies; • inflationary pressures; • increased interest rates or interest rate volatility; • supply chain disruptions; • changes in labor markets; • changes in coverage and reimbursement levels from third-party payors; • changes in the competitive environment; • breaches, failures or other disruptions of our or our vendors’ or customers’ information technology systems or products, including by cyber-attack, data leakage, unauthorized access or theft; • a significant increase in product liability claims; • the ultimate total cost with respect to recall-related and other regulatory and quality matters; • the impact of investigative and legal proceedings and compliance risks; • resolution of tax audits; • changes in tax laws and regulations; • the impact of legislation to reform the healthcare system in the United States or other countries; • costs to comply with medical device regulations; • changes in financial markets; • changes in our credit ratings; • our ability to integrate and realize the anticipated benefits of acquisitions in full or at all or within the expected timeframes, including our acquisition of Inari; • our ability to realize any anticipated cost savings; • potential negative impacts resulting from climate change or other environmental, social and governance and sustainability related matters; • the impact on our operations and financial results of any public health emergency and any related policies and actions by governments or other third parties; • uncertainties as to the timing of the tender offer for shares of Inari common stock and the subsequent merger with Inari; • uncertainties as to how many of Inari’s stockholders will tender their shares in the tender offer; • the failure to satisfy any of the closing conditions to the acquisition of Inari, including the expiration or termination of the Hart-Scott-Rodino Antitrust Improvements Act waiting period (and the risk that such governmental approval may result in the imposition of conditions that could adversely affect the expected benefits of the transaction); • delays in consummating the acquisition of Inari or the risk that the transaction may not close at all; • unexpected liabilities, costs, charges or expenses in connection with the acquisition of Inari; • the effects of the proposed Inari transaction (or the announcement thereof) on the parties’ relationships with employees, customers, other business partners or governmental entities; and • other risks detailed in our filings with the SEC.
Shifts in weather patterns caused by climate change have increased and are expected to further increase the frequency, severity or duration of certain adverse weather conditions and natural disasters, such as hurricanes, tornadoes, earthquakes, wildfires, droughts, extreme temperatures and flooding, which could cause more significant business and supply chain Dollar amounts in millions except per share amounts or as otherwise specified. 11 STRYKER CORPORATION 2024 FORM 10-K interruptions, damage to our products and facilities as well as the infrastructure of hospitals, medical care facilities and other customers, reduced workforce availability, increased costs of raw materials and components, increased liabilities and decreased revenues than what we have experienced in the past from such events.
(Wright) legacy hip products discussed in Note 7 to our Consolidated Financial Dollar amounts in millions except per share amounts or as otherwise specified. 10 STRYKER CORPORATION 2024 FORM 10-K Statements.
This report contains statements that are not historical facts and are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Words that identify forward-looking statements include, without limitation, words such as “may,” “could,” “will,” “should,” “possible,” “plan,” “predict,” “forecast,” “potential,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “may impact,” “on track,” “goal,” “strategy” and words and terms of similar substance used in connection with any discussion of future operating or financial performance, an acquisition or our businesses.
In addition, we are currently investigating whether certain business activities in certain foreign countries violated provisions of the FCPA and have been contacted by the SEC, United States Department of Justice and certain other regulatory authorities.
Moreover, the increasing attention to corporate responsibility initiatives could also result in, among other things, reduced demand for our products, reduced profits, increased investigations and litigation and an increased risk of reputational damage.
In 2022 the European Union member states agreed to implement the Inclusive Framework’s global corporate minimum tax rate of 15%, and various countries within and outside the European Union have either enacted or proposed new tax laws implementing Pillar Two in 2024.
The OECD continues to release additional guidance and we anticipate more countries will enact similar tax laws.
Some important factors that could cause our actual results to differ from our expectations in any forward-looking statements include: • weakening of economic conditions, or the anticipation thereof, that could adversely affect the level of demand for our or Inari Medical, Inc.’s (“Inari”) products; • geopolitical risks, including from international conflicts, which could, among other things, lead to increased market volatility;
We expressly disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that affect the likelihood that actual results will differ from those contained in the forward-looking statements.
The criteria by which our corporate responsibility practices are assessed may change due to the quickly evolving landscape, which could result in greater regulatory requirements or expectations of us and cause us to undertake costly initiatives to satisfy such new criteria.