SEC Filings

10-Q
MEDTRONIC PLC filed this Form 10-Q on 12/04/2017
Entire Document
 
Medtronic plc
Notes to Consolidated Financial Statements
(Unaudited)


Balance Sheet Presentation
The following tables summarize the balance sheet classification and fair value of derivative instruments included in the consolidated balance sheets at October 27, 2017 and April 28, 2017. The fair value amounts are presented on a gross basis and are segregated between derivatives that are designated and qualify as hedging instruments and those that are not designated and do not qualify as hedging instruments, and are further segregated by type of contract within those two categories.
 
October 27, 2017
 
Derivative Assets
 
Derivative Liabilities
(in millions)
Balance Sheet Classification
 
Fair Value
 
Balance Sheet Classification
 
Fair Value
Derivatives designated as hedging instruments
 
 
 

 
 
 
 

Currency exchange rate contracts
Prepaid expenses and other current assets
 
$
61

 
Other accrued expenses
 
$
113

Interest rate contracts
Other assets
 
30

 
Other liabilities
 

Currency exchange rate contracts
Other assets
 
41

 
Other liabilities
 
63

Total derivatives designated as hedging instruments
 
 
$
132

 
 
 
$
176

Derivatives not designated as hedging instruments
 
 
 

 
 
 
 

Currency exchange rate contracts
Prepaid expenses and other current assets
 
$
35

 
Other accrued expenses
 
$
27

Total return swap
Prepaid expenses and other current assets
 
8

 
Other accrued expenses
 

Stock warrants
Other assets
 
25

 
Other liabilities
 

Cross currency interest rate contracts
Other assets
 
6

 
Other liabilities
 
8

Total derivatives not designated as hedging instruments
 
 
$
74

 
 
 
$
35

Total derivatives
 
 
$
206

 
 
 
$
211

 
April 28, 2017
 
Asset Derivatives
 
Liability Derivatives
(in millions)
Balance Sheet Classification
 
Fair Value
 
Balance Sheet Classification
 
Fair Value
Derivatives designated as hedging instruments
 
 
 

 
 
 
 

Currency exchange rate contracts
Prepaid expenses and other current assets
 
$
152

 
Other accrued expenses
 
$
43

Interest rate contracts
Other assets
 
41

 
Other liabilities
 

Currency exchange rate contracts
Other assets
 
48

 
Other liabilities
 
14

Total derivatives designated as hedging instruments
 
 
$
241

 
 
 
$
57

Derivatives not designated as hedging instruments
 
 
 

 
 
 
 

Currency exchange rate contracts
Prepaid expenses and other current assets
 
16

 
Other accrued expenses
 
36

Cross currency interest rate contracts
Other assets
 
5

 
Other liabilities
 
11

Total derivatives not designated as hedging instruments
 
 
$
21

 
 
 
$
47

Total derivatives
 
 
$
262

 
 
 
$
104


21

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