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 29, 2016
Medtronic Senior Notes
(in millions)
Medtronic plc
 
Medtronic, Inc.
 
Medtronic Luxco
 
Subsidiary Non-guarantors
 
Consolidating
Adjustments
 
Total
Net sales
$

 
$
348

 
$

 
$
7,166

 
$
(348
)
 
$
7,166

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 

Cost of products sold

 
250

 

 
2,365

 
(354
)
 
2,261

Research and development expense

 
163

 

 
393

 

 
556

Selling, general, and administrative expense
3

 
280

 

 
2,145

 

 
2,428

Restructuring charges, net

 
16

 

 
78

 

 
94

Certain litigation charges

 

 

 
82

 

 
82

Acquisition-related items

 
23

 

 
29

 

 
52

Amortization of intangible assets

 
3

 

 
484

 

 
487

Other (income) expense, net
11

 
(640
)
 

 
668

 

 
39

Operating profit (loss)
(14
)
 
253

 

 
922

 
6

 
1,167

 
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
(60
)
 
(156
)
 
(282
)
 
405

 
(93
)
Interest expense
16

 
408

 
1

 
252

 
(405
)
 
272

Interest (income) expense, net
16

 
348

 
(155
)
 
(30
)
 

 
179

Equity in net (income) loss of subsidiaries
(957
)
 
(1,174
)
 
(802
)
 

 
2,933

 

Income from operations before income taxes
927

 
1,079

 
957

 
952

 
(2,927
)
 
988

Provision (benefit) for income taxes
(2
)
 
22

 

 
39

 

 
59

Net income
929

 
1,057

 
957

 
913

 
(2,927
)
 
929

Other comprehensive income (loss), net of tax
(156
)
 
95

 
(156
)
 
(172
)
 
233

 
(156
)
Total comprehensive income
$
773

 
$
1,152

 
$
801

 
$
741

 
$
(2,694
)
 
$
773



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