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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-04-06 00:00:00",
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  "notes": "Uses a combination of accounting data and management quotes to suggest aggressive accounting practices.",
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      "text": "Certain prior year amounts have been reclassified to conform with current year presentation in our Consolidated Financial Statements, including immaterial reclassifications of segment results and $302 of loaner instrumentation not intended to be sold reclassified from inventories to other noncurrent assets.",
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      "text": "By moving the asset from inventory, to other noncurrent (long-term) accounts, Stryker could potentially be enabling operating cash flow overstatement or avoiding impairment of assets where customers have defaulted.",
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      "text": "Consolidated Statements of Cash Flows table showing historical loaner instrument impact.",
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      "text": "Stryker website screenshot marketing Loaner System Service.",
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      "text": "Stryker used to disclose loaner instruments on its balance sheet, and show changes in the account as reduction to operating cash flow. By moving the asset from inventory, to other noncurrent (long-term) accounts, Stryker could potentially be enabling operating cash flow overstatement or avoiding impairment of assets where customers have defaulted. We observe that allowance for bad debts has been steadily rising. Stryker appears to be offering more customer financing through Flex Financial.",
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      "text": "I would tell you that during Q2, Mako sales were quite robust. And we supported our customers through a variety of financing options. And then lastly -- the last bit of color I'll say is that just given the circumstances, we definitely are seeing a shift to financing more deals than we have historically experienced, and I fully believe that, that will continue throughout the rest of this year.",
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      "text": "I would tell you that during Q2, Mako sales were quite robust. And we supported our customers through a variety of financing options. And then lastly -- the last bit of color I'll say is that just given the circumstances, we definitely are seeing a shift to financing more deals than we have historically experienced, and I fully believe that, that will continue throughout the rest of this year. — Q2 2020 Conf Call",
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      "text": "Loaner Instruments: More Customer Financing",
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