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)


Condensed Consolidating Balance Sheet
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
ASSETS
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$

 
$
63

 
$
29

 
$
4,599

 
$

 
$
4,691

Investments

 

 

 
8,397

 

 
8,397

Accounts receivable, net

 

 

 
5,784

 

 
5,784

Inventories, net

 
166

 

 
3,547

 
(175
)
 
3,538

Intercompany receivable
94

 

 

 
12,960

 
(13,054
)
 

Other current assets
7

 
278

 

 
1,715

 

 
2,000

Current assets held for sale

 

 

 
369

 

 
369

Total current assets
101

 
507

 
29

 
37,371

 
(13,229
)
 
24,779

Property, plant, and equipment, net

 
1,325

 

 
3,062

 

 
4,387

Goodwill

 

 

 
39,196

 

 
39,196

Other intangible assets, net

 
17

 

 
22,989

 

 
23,006

Tax assets

 
809

 

 
789

 

 
1,598

Investment in subsidiaries
57,874

 
72,950

 
54,584

 

 
(185,408
)
 

Intercompany loans receivable
3,000

 
11,731

 
18,121

 
28,694

 
(61,546
)
 

Other assets

 
452

 

 
832

 

 
1,284

Noncurrent assets held for sale

 

 

 
6,000

 

 
6,000

Total assets
$
60,975

 
$
87,791

 
$
72,734

 
$
138,933

 
$
(260,183
)
 
$
100,250

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Current debt obligations
$

 
$
5,000

 
$
1,473

 
$
1,585

 
$

 
$
8,058

Accounts payable

 
347

 

 
1,412

 

 
1,759

Intercompany payable
13

 
13,041

 

 

 
(13,054
)
 

Accrued compensation
7

 
454

 

 
843

 

 
1,304

Accrued income taxes
13

 

 

 
704

 

 
717

Other accrued expenses
1

 
506

 
16

 
2,728

 

 
3,251

Current liabilities held for sale

 

 

 
59

 

 
59

Total current liabilities
34

 
19,348

 
1,489

 
7,331

 
(13,054
)
 
15,148

Long-term debt

 
21,789

 
1,841

 
2,323

 

 
25,953

Accrued compensation and retirement benefits

 
1,116

 

 
547

 

 
1,663

Accrued income taxes
10

 
1,582

 

 
578

 

 
2,170

Intercompany loans payable
10,259

 
13,161

 
18,533

 
19,593

 
(61,546
)
 

Deferred tax liabilities

 

 

 
2,610

 

 
2,610

Other liabilities

 
154

 

 
872

 

 
1,026

Noncurrent liabilities held for sale

 

 

 
893

 

 
893

Total liabilities
10,303

 
57,150

 
21,863

 
34,747

 
(74,600
)
 
49,463

Shareholders’ equity
50,672

 
30,641

 
50,871

 
104,071

 
(185,583
)
 
50,672

Noncontrolling interests

 

 

 
115

 

 
115

Total equity
50,672

 
30,641

 
50,871

 
104,186

 
(185,583
)
 
50,787

Total liabilities and equity
$
60,975

 
$
87,791

 
$
72,734

 
$
138,933

 
$
(260,183
)
 
$
100,250



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