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
April 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
$

 
$
45

 
$
5

 
$
4,917

 
$

 
$
4,967

Investments

 

 

 
8,741

 

 
8,741

Accounts receivable, net

 

 

 
5,591

 

 
5,591

Inventories, net

 
155

 

 
3,361

 
(178
)
 
3,338

Intercompany receivable
63

 

 

 
12,618

 
(12,681
)
 

Other current assets
10

 
227

 

 
1,628

 

 
1,865

Current assets held for sale

 

 

 
371

 

 
371

Total current assets
73

 
427

 
5

 
37,227

 
(12,859
)
 
24,873

Property, plant, and equipment, net

 
1,311

 

 
3,050

 

 
4,361

Goodwill

 

 

 
38,515

 

 
38,515

Other intangible assets, net

 
20

 

 
23,387

 

 
23,407

Tax assets

 
727

 

 
782

 

 
1,509

Investment in subsidiaries
55,833

 
71,909

 
52,618

 

 
(180,360
)
 

Intercompany loans receivable
3,000

 
12,162

 
16,114

 
32,774

 
(64,050
)
 

Other assets

 
434

 

 
798

 

 
1,232

Noncurrent assets held for sale

 

 

 
5,919

 

 
5,919

Total assets
$
58,906

 
$
86,990

 
$
68,737

 
$
142,452

 
$
(257,269
)
 
$
99,816

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Current debt obligations
$

 
$
5,000

 
$
901

 
$
1,619

 
$

 
$
7,520

Accounts payable

 
304

 

 
1,427

 

 
1,731

Intercompany payable
12

 
12,669

 

 

 
(12,681
)
 

Accrued compensation
9

 
734

 

 
1,117

 

 
1,860

Accrued income taxes
13

 

 

 
620

 

 
633

Other accrued expenses

 
352

 
4

 
2,086

 

 
2,442

Current liabilities held for sale

 

 

 
34

 

 
34

Total current liabilities
34

 
19,059

 
905

 
6,903

 
(12,681
)
 
14,220

Long-term debt

 
21,782

 
1,842

 
2,297

 

 
25,921

Accrued compensation and retirement benefits

 
1,120

 

 
521

 

 
1,641

Accrued income taxes
10

 
1,658

 

 
737

 

 
2,405

Intercompany loans payable
8,568

 
13,151

 
17,160

 
25,171

 
(64,050
)
 

Deferred tax liabilities

 

 

 
2,978

 

 
2,978

Other liabilities

 
153

 

 
1,362

 

 
1,515

Noncurrent liabilities held for sale

 

 

 
720

 

 
720

Total liabilities
8,612

 
56,923

 
19,907

 
40,689

 
(76,731
)
 
49,400

Shareholders' equity
50,294

 
30,067

 
48,830

 
101,641

 
(180,538
)
 
50,294

Noncontrolling interests

 

 

 
122

 

 
122

Total equity
50,294

 
30,067

 
48,830

 
101,763

 
(180,538
)
 
50,416

Total liabilities and equity
$
58,906

 
$
86,990

 
$
68,737

 
$
142,452

 
$
(257,269
)
 
$
99,816



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