SEC Filings

10-Q
MEDTRONIC PLC filed this Form 10-Q on 09/01/2017
Entire Document
 
Medtronic plc
Notes to Consolidated Financial Statements
(Unaudited)


The following table summarizes the Company's investments by significant investment category and the related consolidated balance sheet classification at April 28, 2017:
 
Valuation
 
Balance Sheet Classification
(in millions)
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair Value
 
Investments
 
Other Assets
Available-for-sale securities:
 

 
 

 
 

 
 

 
 
 
 
Level 1:
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency securities
$
613

 
$
2

 
$
(5
)
 
$
610

 
$
610

 
$

Marketable equity securities
58

 
49

 
(4
)
 
103

 

 
103

Total Level 1
671

 
51

 
(9
)
 
713

 
610

 
103

Level 2:
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities
4,643

 
62

 
(23
)
 
4,682

 
4,682

 

U.S. government and agency securities
860

 

 
(10
)
 
850

 
850

 

Mortgage-backed securities
766

 
9

 
(16
)
 
759

 
759

 

Foreign government and agency securities
49

 

 

 
49

 
49

 

Other asset-backed securities
228

 
1

 
(1
)
 
228

 
228

 

Debt funds
1,246

 
4

 
(178
)
 
1,072

 
1,072

 

Total Level 2
7,792

 
76

 
(228
)
 
7,640

 
7,640

 

Level 3:
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities
1

 

 

 
1

 

 
1

Auction rate securities
47

 

 
(3
)
 
44

 

 
44

Total Level 3
48

 

 
(3
)
 
45

 

 
45

Investments measured at net asset value(1):
 

 
 

 
 

 
 

 
 
 
 
Debt funds
497

 

 
(6
)
 
491

 
491

 

Total available-for-sale securities
9,008

 
127

 
(246
)
 
8,889

 
8,741

 
148

Cost method, equity method, and other investments:
 
 
 
 
 
 
 
 
 
 
 
Level 3:
 
 
 
 
 
 
 
 
 
 
 
Cost method, equity method, and other investments
589

 

 

 
N/A

 

 
589

Total Level 3
589

 

 

 
N/A

 

 
589

Total cost method, equity method, and other investments
589

 

 

 
N/A

 

 
589

Total investments
$
9,597

 
$
127

 
$
(246
)
 
$
8,889

 
$
8,741

 
$
737

(1) Certain investments that are measured at the net asset value per share (or its equivalent) as a practical expedient are excluded from the fair value hierarchy. The fair value amounts presented herein are intended to permit reconciliation to the consolidated balance sheets.


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