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
Three Months Ended October 28, 2016
Medtronic Senior Notes
(in millions)
Medtronic plc
 
Medtronic, Inc.
 
Medtronic Luxco
 
Subsidiary Non-guarantors
 
Consolidating
Adjustments
 
Total
Net sales
$

 
$
337

 
$

 
$
7,344

 
$
(336
)
 
$
7,345

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 
243

 

 
2,412

 
(329
)
 
2,326

Research and development expense

 
158

 

 
396

 

 
554

Selling, general, and administrative expense
3

 
284

 

 
2,129

 

 
2,416

Amortization of intangible assets

 
3

 

 
497

 

 
500

Restructuring charges, net

 
1

 

 
46

 

 
47

Acquisition-related items

 
37

 

 
(9
)
 

 
28

Other (income) expense, net
(86
)
 
(597
)
 

 
772

 

 
89

Operating profit (loss)
83

 
208

 

 
1,101

 
(7
)
 
1,385

Interest income

 
(59
)
 
(165
)
 
(286
)
 
419

 
(91
)
Interest expense
25

 
396

 
11

 
251

 
(419
)
 
264

Interest expense, net
25

 
337

 
(154
)
 
(35
)
 

 
173

Equity in net (income) loss of subsidiaries
(1,055
)
 
(859
)
 
(901
)
 

 
2,815

 

Income before income taxes
1,113

 
730

 
1,055

 
1,136

 
(2,822
)
 
1,212

Income tax (benefit) provision
(2
)
 
28

 

 
75

 

 
101

Net income
1,115

 
702

 
1,055

 
1,061

 
(2,822
)
 
1,111

Net loss attributable to noncontrolling interests

 

 

 
4

 

 
4

Net income attributable to Medtronic
1,115

 
702

 
1,055

 
1,065

 
(2,822
)
 
1,115

Other comprehensive income (loss), net of tax
(304
)
 
47

 
(304
)
 
(329
)
 
586

 
(304
)
Other comprehensive loss attributable to
noncontrolling interests

 

 

 
4

 

 
4

Total comprehensive income
$
811

 
$
749

 
$
751

 
$
736

 
$
(2,236
)
 
$
811




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