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 27, 2017
CIFSA Senior Notes
(in millions)
Medtronic plc
 
CIFSA
 
CIFSA Subsidiary Guarantors
 
Subsidiary Non-guarantors
 
Consolidating
Adjustments
 
Total
Net sales
$

 
$

 
$

 
$
7,050

 
$

 
$
7,050

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 

 

 
2,120

 

 
2,120

Research and development expense

 

 

 
555

 

 
555

Selling, general, and administrative expense
3

 

 

 
2,435

 

 
2,438

Amortization of intangible assets

 

 

 
460

 

 
460

Restructuring charges, net

 

 

 
8

 

 
8

Acquisition-related items

 

 

 
7

 

 
7

Divestiture-related items

 

 

 
67

 

 
67

Gain on sale of businesses

 

 

 
(697
)
 

 
(697
)
Special charge

 

 

 
80

 

 
80

Other (income) expense, net
12

 

 

 
99

 

 
111

Operating profit (loss)
(15
)
 

 

 
1,916

 

 
1,901

Interest income

 
(16
)
 
(107
)
 
(128
)
 
151

 
(100
)
Interest expense
60

 
21

 
48

 
295

 
(151
)
 
273

Interest expense, net
60

 
5

 
(59
)
 
167

 

 
173

Equity in net (income) loss of subsidiaries
(2,091
)
 
(811
)
 
(2,032
)
 

 
4,934

 

Income before income taxes
2,016

 
806

 
2,091

 
1,749

 
(4,934
)
 
1,728

Income tax (benefit) provision
(1
)
 

 

 
(284
)
 

 
(285
)
Net income
2,017

 
806

 
2,091

 
2,033

 
(4,934
)
 
2,013

Net loss attributable to noncontrolling interests

 

 

 
4

 

 
4

Net income attributable to Medtronic
2,017

 
806

 
2,091

 
2,037

 
(4,934
)
 
2,017

Other comprehensive income (loss), net of tax
(136
)
 
(295
)
 
(136
)
 
(136
)
 
567

 
(136
)
Other comprehensive loss attributable to
non-controlling interests

 

 

 
4

 

 
4

Total comprehensive income
$
1,881

 
$
511

 
$
1,955

 
$
1,901

 
$
(4,367
)
 
$
1,881



44

X