SEC Filings

10-Q
MEDTRONIC PLC filed this Form 10-Q on 09/01/2017
Entire Document
 


PART I — FINANCIAL INFORMATION
Item 1. Financial Statements
Medtronic plc
Consolidated Statements of Income
(Unaudited)
 
Three months ended
(in millions, except per share data)
July 28, 2017
 
July 29, 2016
Net sales
$
7,390

 
$
7,166

 
 
 
 
Costs and expenses:
 

 
 

Cost of products sold
2,349

 
2,261

Research and development expense
548

 
556

Selling, general, and administrative expense
2,485

 
2,428

Restructuring charges, net
8

 
94

Certain litigation charges

 
82

Acquisition-related items
44

 
52

Divestiture-related items
47

 

Amortization of intangible assets
454

 
487

Other expense, net
66

 
39

Operating profit
1,389

 
1,167

 
 
 
 
Interest income
(92
)
 
(93
)
Interest expense
286

 
272

Interest expense, net
194

 
179

Income before provision for income taxes
1,195

 
988

Provision for income taxes
186

 
59

Net income
1,009

 
929

Net loss attributable to noncontrolling interests
7

 

Net income attributable to Medtronic
$
1,016

 
$
929

 
 
 
 
Basic earnings per share
$
0.75

 
$
0.67

 
 
 
 
Diluted earnings per share
$
0.74

 
$
0.66

 
 
 
 
Basic weighted average shares outstanding
1,361.9

 
1,392.2

 
 
 
 
Diluted weighted average shares outstanding
1,375.6

 
1,407.1

 
 
 
 
Cash dividends declared per ordinary share
$
0.46

 
$
0.43

The accompanying notes are an integral part of these consolidated financial statements.

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