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
CIFSA Senior Notes
(in millions)
Medtronic plc
 
CIFSA
 
CIFSA Subsidiary Guarantors
 
Subsidiary Non-guarantors
 
Consolidating
Adjustments
 
Total
Net sales
$

 
$

 
$

 
$
7,390

 
$

 
$
7,390

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 

 

 
2,349

 

 
2,349

Research and development expense

 

 

 
548

 

 
548

Selling, general, and administrative expense
3

 

 

 
2,482

 

 
2,485

Restructuring charges, net

 

 

 
8

 

 
8

Acquisition-related items

 

 

 
44

 

 
44

Divestiture-related items

 

 

 
47

 

 
47

Amortization of intangible assets

 

 

 
454

 

 
454

Other (income) expense, net
13

 
1

 

 
52

 

 
66

Operating profit (loss)
(16
)
 
(1
)
 

 
1,406

 

 
1,389

Interest income

 
(16
)
 
(112
)
 
(112
)
 
148

 
(92
)
Interest expense
49

 
23

 
35

 
327

 
(148
)
 
286

Interest expense (income), net
49

 
7

 
(77
)
 
215

 

 
194

Equity in net (income) loss of subsidiaries
(1,079
)
 
(390
)
 
(1,002
)
 

 
2,471

 

Income from operations before income taxes
1,014

 
382

 
1,079

 
1,191

 
(2,471
)
 
1,195

Provision (benefit) for income taxes
(2
)
 

 

 
188

 

 
186

Net income
1,016

 
382

 
1,079

 
1,003

 
(2,471
)
 
1,009

Net loss attributable to noncontrolling interests

 

 

 
7

 

 
7

Net income attributable to Medtronic
1,016

 
382

 
1,079

 
1,010

 
(2,471
)
 
1,016

Other comprehensive income (loss), net of tax
689

 
94

 
689

 
689

 
(1,472
)
 
689

Other comprehensive loss attributable to non controlling interests

 

 

 
7

 

 
7

Total comprehensive income
$
1,705

 
$
476

 
$
1,768

 
$
1,699

 
$
(3,943
)
 
$
1,705



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