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)


Debt Obligations
The Company's debt obligations consisted of the following:
(in millions, except interest rates)
 
Maturity by
Fiscal Year
 
July 28, 2017
 
April 28, 2017
Current debt obligations
 
2018
 
$
8,058

 
$
7,520

 
 
 
 
 
 
 
Long-term debt
 
 
 
 
 
 
5.600 percent ten-year 2009 senior notes
 
2019
 
400

 
400

1.700 percent two-year 2017 senior notes
 
2019
 
1,000

 
1,000

4.450 percent ten-year 2010 senior notes
 
2020
 
766

 
766

2.500 percent five-year 2015 senior notes
 
2020
 
2,500

 
2,500

Floating rate five-year 2015 senior notes
 
2020
 
500

 
500

4.200 percent ten-year 2010 CIFSA senior notes
 
2021
 
600

 
600

4.125 percent ten-year 2011 senior notes
 
2021
 
500

 
500

3.125 percent ten-year 2012 senior notes
 
2022
 
675

 
675

3.150 percent seven-year 2015 senior notes
 
2022
 
2,500

 
2,500

3.200 percent ten-year 2012 CIFSA senior notes
 
2023
 
650

 
650

2.750 percent ten-year 2013 senior notes
 
2023
 
530

 
530

2.950 percent ten-year 2013 CIFSA senior notes
 
2024
 
310

 
310

3.625 percent ten-year 2014 senior notes
 
2024
 
850

 
850

3.500 percent ten-year 2015 senior notes
 
2025
 
4,000

 
4,000

3.350 percent ten-year 2017 senior notes
 
2027
 
850

 
850

4.375 percent twenty-year 2015 senior notes
 
2035
 
2,382

 
2,382

6.550 percent thirty-year 2008 CIFSA senior notes
 
2038
 
374

 
374

6.500 percent thirty-year 2009 senior notes
 
2039
 
300

 
300

5.550 percent thirty-year 2010 senior notes
 
2040
 
500

 
500

4.500 percent thirty-year 2012 senior notes
 
2042
 
400

 
400

4.000 percent thirty-year 2013 senior notes
 
2043
 
325

 
325

4.625 percent thirty-year 2014 senior notes
 
2044
 
650

 
650

4.625 percent thirty-year 2015 senior notes
 
2045
 
4,150

 
4,150

Interest rate swaps (Note 8)
 
2021 - 2022
 
41

 
40

Capital lease obligations
 
2019 - 2025
 
23

 
23

Bank borrowings
 
2019 - 2021
 
171

 
139

Debt premium, net
 
2019 - 2045
 
130

 
135

Deferred financing costs
 
2019 - 2045
 
(124
)
 
(128
)
Long-term debt
 
 
 
$
25,953

 
$
25,921

Senior Notes
The Company had outstanding unsecured senior obligations, including those described as senior notes in the debt obligations table above (collectively, the Senior Notes). The Senior Notes rank equally with all other unsecured and unsubordinated indebtedness of the Company. The indentures under which the Senior Notes were issued contain customary covenants, all of which the Company remained in compliance with at July 28, 2017. For additional information regarding the terms of these agreements, refer to Note 8 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended April 28, 2017.

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