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)


13. Stock-Based Compensation
The following table presents the components and classification of stock-based compensation expense for stock options, restricted stock, and employee stock purchase plan shares recognized for the three months ended July 28, 2017 and July 29, 2016:
 
Three months ended
(in millions)
July 28, 2017
 
July 29, 2016
Stock options
$
35

 
$
38

Restricted stock
48

 
34

Employee stock purchase plan
9

 
7

Total stock-based compensation expense
$
92

 
$
79

 
 
 
 
Cost of products sold
$
10

 
$
11

Research and development expense
9

 
9

Selling, general, and administrative expense
55

 
51

Restructuring charges

 
1

Acquisition-related items
2

 
7

Divestiture-related items
16

 

Total stock-based compensation expense
92

 
79

Income tax benefits
(25
)
 
(21
)
Total stock-based compensation expense, net of tax
$
67

 
$
58

14. Retirement Benefit Plans
The Company sponsors various retirement benefit plans, including defined benefit pension plans (pension benefits), post-retirement medical plans, defined contribution savings plans, and termination indemnity plans, covering substantially all U.S. employees and many employees outside the U.S. The net periodic benefit cost of the defined benefit pension plans included the following components for the three months ended July 28, 2017 and July 29, 2016:
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
Three months ended
 
Three months ended
(in millions)
July 28, 2017
 
July 29, 2016
 
July 28, 2017
 
July 29, 2016
Service cost
$
29

 
$
29

 
$
17

 
$
19

Interest cost
30

 
27

 
7

 
6

Expected return on plan assets
(52
)
 
(47
)
 
(13
)
 
(12
)
Amortization of net actuarial loss
20

 
23

 
4

 
4

Net periodic benefit cost
$
27

 
$
32

 
$
15

 
$
17



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