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)


Consolidating Statement of Comprehensive Income
Six Months Ended October 27, 2017
Medtronic Senior Notes and Medtronic Luxco Senior Notes
(in millions)
Medtronic plc
 
Medtronic, Inc.
 
Medtronic Luxco
 
Subsidiary Non-guarantors
 
Consolidating
Adjustments
 
Total
Net sales
$

 
$
604

 
$

 
$
14,439

 
$
(603
)
 
$
14,440

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 
450

 

 
4,638

 
(619
)
 
4,469

Research and development expense

 
327

 

 
776

 

 
1,103

Selling, general, and administrative expense
5

 
675

 

 
4,243

 

 
4,923

Amortization of intangible assets

 
4

 

 
910

 

 
914

Restructuring charges, net

 
2

 

 
14

 

 
16

Acquisition-related items

 
44

 

 
7

 

 
51

Divestiture-related items

 
15

 

 
99

 

 
114

Gain on sale of businesses

 

 

 
(697
)
 

 
(697
)
Special charge

 
80

 

 

 

 
80

Other (income) expense, net
25

 
(870
)
 

 
1,022

 

 
177

Operating profit (loss)
(30
)
 
(123
)
 

 
3,427

 
16

 
3,290

 
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
(135
)
 
(212
)
 
(679
)
 
834

 
(192
)
Interest expense
109

 
865

 
82

 
337

 
(834
)
 
559

Interest expense, net
109

 
730

 
(130
)
 
(342
)
 

 
367

Equity in net (income) loss of subsidiaries
(3,169
)
 
(2,623
)
 
(3,039
)
 

 
8,831

 

Income before income taxes
3,030

 
1,770

 
3,169

 
3,769

 
(8,815
)
 
2,923

Income tax (benefit) provision
(3
)
 
(236
)
 

 
140

 

 
(99
)
Net income
3,033

 
2,006

 
3,169

 
3,629

 
(8,815
)
 
3,022

Net loss attributable to noncontrolling interests

 

 

 
11

 

 
11

Net income attributable to Medtronic
3,033

 
2,006

 
3,169

 
3,640

 
(8,815
)
 
3,033

Other comprehensive income (loss), net of tax
553

 
(317
)
 
553

 
530

 
(766
)
 
553

Other comprehensive loss attributable to
noncontrolling interests

 

 

 
11

 

 
11

Total comprehensive income
$
3,586

 
$
1,689

 
$
3,722

 
$
4,170

 
$
(9,581
)
 
$
3,586



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