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

 
$
685

 
$

 
$
14,510

 
$
(684
)
 
$
14,511

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 

Cost of products sold

 
492

 

 
4,779

 
(684
)
 
4,587

Research and development expense

 
321

 

 
789

 

 
1,110

Selling, general, and administrative expense
6

 
564

 

 
4,274

 

 
4,844

Amortization of intangible assets

 
6

 

 
981

 

 
987

Restructuring charges, net

 
18

 

 
123

 

 
141

Certain litigation charges

 

 

 
82

 

 
82

Acquisition-related items

 
60

 

 
20

 

 
80

Other (income) expense, net
(74
)
 
(1,306
)
 

 
1,508

 

 
128

Operating profit (loss)
68

 
530

 

 
1,954

 

 
2,552

Interest income

 
(121
)
 
(321
)
 
(424
)
 
682

 
(184
)
Interest expense
41

 
806

 
12

 
359

 
(682
)
 
536

Interest expense, net
41

 
685

 
(309
)
 
(65
)
 

 
352

Equity in net (income) loss of subsidiaries
(2,013
)
 
(2,095
)
 
(1,704
)
 

 
5,812

 

Income before income taxes
2,040

 
1,940

 
2,013

 
2,019

 
(5,812
)
 
2,200

Income tax (benefit) provision
(4
)
 
50

 

 
114

 

 
160

Net income
2,044

 
1,890

 
2,013

 
1,905

 
(5,812
)
 
2,040

Net loss attributable to noncontrolling interests

 

 

 
4

 

 
4

Net income attributable to Medtronic
2,044

 
1,890

 
2,013

 
1,909

 
(5,812
)
 
2,044

Other comprehensive income (loss), net of tax
(460
)
 
142

 
(460
)
 
(500
)
 
818

 
(460
)
Other comprehensive loss attributable to
noncontrolling interests

 

 

 
4

 

 
4

Total comprehensive income
$
1,584

 
$
2,032

 
$
1,553

 
$
1,409

 
$
(4,994
)
 
$
1,584



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