SEC Filings

10-Q
MEDTRONIC PLC filed this Form 10-Q on 12/04/2017
Entire Document
 


PART I — FINANCIAL INFORMATION
Item 1. Financial Statements
Medtronic plc
Consolidated Statements of Income
(Unaudited)
 
Three months ended
 
Six months ended
(in millions, except per share data)
October 27, 2017
 
October 28, 2016
 
October 27, 2017
 
October 28, 2016
Net sales
$
7,050

 
$
7,345

 
$
14,440

 
$
14,511

 
 
 
 
 
 
 
 
Costs and expenses:
 

 
 

 
 

 
 
Cost of products sold
2,120

 
2,326

 
4,469

 
4,587

Research and development expense
555

 
554

 
1,103

 
1,110

Selling, general, and administrative expense
2,438

 
2,416

 
4,923

 
4,844

Amortization of intangible assets
460

 
500

 
914

 
987

Restructuring charges, net
8

 
47

 
16

 
141

Acquisition-related items
7

 
28

 
51

 
80

Certain litigation charges

 

 

 
82

Divestiture-related items
67

 

 
114

 

Gain on sale of businesses
(697
)
 

 
(697
)
 

Special charge
80

 

 
80

 

Other expense, net
111

 
89

 
177

 
128

Operating profit
1,901

 
1,385

 
3,290

 
2,552

 
 
 
 
 
 
 
 
Interest income
(100
)
 
(91
)
 
(192
)
 
(184
)
Interest expense
273

 
264

 
559

 
536

Interest expense, net
173

 
173

 
367

 
352

Income before income taxes
1,728

 
1,212

 
2,923

 
2,200

Income tax (benefit) provision
(285
)
 
101

 
(99
)
 
160

Net income
2,013

 
1,111

 
3,022

 
2,040

Net loss attributable to noncontrolling interests
4

 
4

 
11

 
4

Net income attributable to Medtronic
$
2,017

 
$
1,115

 
$
3,033

 
$
2,044

 
 
 
 
 
 
 
 
Basic earnings per share
$
1.49

 
$
0.81

 
$
2.23

 
$
1.47

 
 
 
 
 
 
 
 
Diluted earnings per share
$
1.48

 
$
0.80

 
$
2.21

 
$
1.46

 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
1,355.1

 
1,380.0

 
1,358.5

 
1,386.5

 
 
 
 
 
 
 
 
Diluted weighted average shares outstanding
1,365.8

 
1,392.5

 
1,370.8

 
1,400.2

 
 
 
 
 
 
 
 
Cash dividends declared per ordinary share
$
0.46

 
$
0.43

 
$
0.92

 
$
0.86

The accompanying notes are an integral part of these consolidated financial statements.

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