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)


Condensed Consolidating Balance Sheet
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
ASSETS
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$

 
$
47

 
$
822

 
$
4,660

 
$

 
$
5,529

Investments

 

 

 
7,997

 

 
7,997

Accounts receivable, net

 

 

 
5,752

 

 
5,752

Inventories, net

 
175

 

 
3,625

 
(162
)
 
3,638

Intercompany receivable
55

 

 

 
13,784

 
(13,839
)
 

Other current assets
10

 
195

 
1

 
2,040

 

 
2,246

Total current assets
65

 
417

 
823

 
37,858

 
(14,001
)
 
25,162

Property, plant, and equipment, net

 
1,333

 

 
3,108

 

 
4,441

Goodwill

 

 

 
39,077

 

 
39,077

Other intangible assets, net

 
15

 

 
22,610

 

 
22,625

Tax assets

 
792

 

 
957

 

 
1,749

Investment in subsidiaries
59,762

 
74,787

 
60,612

 

 
(195,161
)
 

Intercompany loans receivable
3,112

 
9,958

 
17,731

 
40,469

 
(71,270
)
 

Other assets

 
439

 

 
965

 

 
1,404

Total assets
$
62,939

 
$
87,741

 
$
79,166

 
$
145,044

 
$
(280,432
)
 
$
94,458

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Current debt obligations
$

 
$
2,000

 
$
699

 
$
432

 
$

 
$
3,131

Accounts payable

 
317

 

 
1,401

 

 
1,718

Intercompany payable
11

 
13,828

 

 

 
(13,839
)
 

Accrued compensation
6

 
604

 

 
892

 

 
1,502

Accrued income taxes
14

 

 

 
858

 

 
872

Other accrued expenses
88

 
472

 
4

 
2,709

 

 
3,273

Total current liabilities
119

 
17,221

 
703

 
6,292

 
(13,839
)
 
10,496

Long-term debt

 
21,785

 
1,842

 
2,314

 

 
25,941

Accrued compensation and retirement benefits

 
966

 

 
509

 

 
1,475

Accrued income taxes
10

 
1,620

 

 
564

 

 
2,194

Intercompany loans payable
11,316

 
14,835

 
23,868

 
21,251

 
(71,270
)
 

Deferred tax liabilities

 

 

 
1,841

 

 
1,841

Other liabilities
25

 
63

 

 
845

 

 
933

Total liabilities
11,470

 
56,490

 
26,413

 
33,616

 
(85,109
)
 
42,880

Shareholders’ equity
51,469

 
31,251

 
52,753

 
111,319

 
(195,323
)
 
51,469

Noncontrolling interests

 

 

 
109

 

 
109

Total equity
51,469

 
31,251

 
52,753

 
111,428

 
(195,323
)
 
51,578

Total liabilities and equity
$
62,939

 
$
87,741

 
$
79,166

 
$
145,044

 
$
(280,432
)
 
$
94,458



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