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)


Consolidating Statement of Comprehensive Income
Three Months Ended July 28, 2017
Medtronic Senior Notes and Medtronic Luxco Senior Notes
(in millions)
Medtronic plc
 
Medtronic, Inc.
 
Medtronic Luxco
 
Subsidiary Non-guarantors
 
Consolidating
Adjustments
 
Total
Net sales
$

 
$
303

 
$

 
$
7,390

 
$
(303
)
 
$
7,390

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 
222

 

 
2,433

 
(306
)
 
2,349

Research and development expense

 
158

 

 
390

 

 
548

Selling, general, and administrative expense
3

 
301

 

 
2,181

 

 
2,485

Restructuring charges, net

 
1

 

 
7

 

 
8

Acquisition-related items

 
29

 

 
15

 

 
44

Divestiture-related items

 
9

 

 
38

 

 
47

Amortization of intangible assets

 
2

 

 
452

 

 
454

Other (income) expense, net
13

 
(477
)
 

 
530

 

 
66

Operating profit (loss)
(16
)
 
58

 

 
1,344

 
3

 
1,389

 
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
(71
)
 
(110
)
 
(334
)
 
423

 
(92
)
Interest expense
49

 
441

 
35

 
184

 
(423
)
 
286

Interest expense (income), net
49

 
370

 
(75
)
 
(150
)
 

 
194

Equity in net (income) loss of subsidiaries
(1,079
)
 
(815
)
 
(1,004
)
 

 
2,898

 

Income from operations before income taxes
1,014

 
503

 
1,079

 
1,494

 
(2,895
)
 
1,195

Provision (benefit) for income taxes
(2
)
 
(77
)
 

 
265

 

 
186

Net income
1,016

 
580

 
1,079

 
1,229

 
(2,895
)
 
1,009

Net loss attributable to noncontrolling interests

 

 

 
7

 

 
7

Net income attributable to Medtronic
1,016

 
580

 
1,079

 
1,236

 
(2,895
)
 
1,016

Other comprehensive income (loss), net of tax
689

 
(7
)
 
689

 
680

 
(1,362
)
 
689

Other comprehensive loss attributable to non-controlling interests

 

 

 
7

 

 
7

Total comprehensive income
$
1,705

 
$
573

 
$
1,768

 
$
1,916

 
$
(4,257
)
 
$
1,705







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