SEC Filings

8-K
MEDTRONIC PLC filed this Form 8-K on 11/21/2017
Entire Document
 


MEDTRONIC PLC
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)


 
 
Six months ended
(in millions)
 
October 27, 2017
 
October 28, 2016
Operating Activities:
 
 
 
 
Net income
 
$
3,022

 
$
2,040

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
 
Depreciation and amortization
 
1,314

 
1,469

Amortization of debt premium, discount, and issuance costs
 
(20
)
 
14

Acquisition-related items
 
(25
)
 
(47
)
Provision for doubtful accounts
 
20

 
18

Deferred income taxes
 
(830
)
 
(50
)
Stock-based compensation
 
198

 
190

Gain on sale of businesses
 
(697
)
 

Other, net
 
4

 
(105
)
Change in operating assets and liabilities, net of acquisitions and divestitures:
 
  
 
 

Accounts receivable, net
 
(68
)
 
(89
)
Inventories, net
 
(273
)
 
(187
)
Accounts payable and accrued liabilities
 
(307
)
 
(306
)
Other operating assets and liabilities
 
(694
)
 
75

Net cash provided by operating activities
 
1,644

 
3,022

Investing Activities:
 
 
 
 
Acquisitions, net of cash acquired
 
(76
)
 
(1,306
)
Proceeds from sale of businesses
 
6,058

 

Additions to property, plant, and equipment
 
(524
)
 
(598
)
Purchases of investments
 
(1,685
)
 
(2,110
)
Sales and maturities of investments
 
2,354

 
3,625

 
 
(2
)
 
32

Net cash provided by (used in) investing activities
 
6,125

 
(357
)
Financing Activities:
 
 
 
 
Acquisition-related contingent consideration
 
(39
)
 
(36
)
Change in current debt obligations, net
 
(190
)
 
1,154

Proceeds from short-term borrowings (maturities greater than 90 days)
 

 
4

Issuance of long-term debt
 
20

 
131

Payments on long-term debt
 
(4,161
)
 
(252
)
Dividends to shareholders
 
(1,247
)
 
(1,192
)
Issuance of ordinary shares
 
230

 
260

Repurchase of ordinary shares
 
(1,888
)
 
(2,794
)
Other financing activities
 
(2
)
 
74

Net cash used in financing activities
 
(7,277
)
 
(2,651
)
Effect of exchange rate changes on cash and cash equivalents
 
70

 
64

Net change in cash and cash equivalents
 
562

 
78

Cash and cash equivalents at beginning of period
 
4,967

 
2,876

Cash and cash equivalents at end of period
 
$
5,529

 
$
2,954

Supplemental Cash Flow Information
 
 
 
 
Cash paid for:
 
 
 
 
Income taxes
 
$
674

 
$
258

Interest
 
587

 
559


17
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