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

 
$

 
$

 
$
7,166

 
$

 
$
7,166

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 

 

 
2,261

 

 
2,261

Research and development expense

 

 

 
556

 

 
556

Selling, general, and administrative expense
3

 

 

 
2,425

 

 
2,428

Restructuring charges, net

 

 

 
94

 

 
94

Certain litigation charges

 

 

 
82

 

 
82

Acquisition-related items

 

 

 
52

 

 
52

Amortization of intangible assets

 

 

 
487

 

 
487

Other (income) expense, net
11

 
1

 

 
27

 

 
39

Operating profit (loss)
(14
)
 
(1
)
 

 
1,182

 

 
1,167

Interest income

 
(29
)
 
(157
)
 
(106
)
 
199

 
(93
)
Interest expense
16

 
32

 
1

 
422

 
(199
)
 
272

Interest expense (income), net
16

 
3

 
(156
)
 
316

 

 
179

Equity in net (income) loss of subsidiaries
(957
)
 
(877
)
 
(801
)
 

 
2,635

 

Income from operations before income taxes
927

 
873

 
957

 
866

 
(2,635
)
 
988

Provision (benefit) for income taxes
(2
)
 

 

 
61

 

 
59

Net income
929

 
873

 
957

 
805

 
(2,635
)
 
929

Other comprehensive income (loss), net of tax
(156
)
 
42

 
(156
)
 
(156
)
 
270

 
(156
)
Total comprehensive income
$
773

 
$
915

 
$
801

 
$
649

 
$
(2,365
)
 
$
773




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