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

 
$

 
$

 
$
14,440

 
$

 
$
14,440

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 

 

 
4,469

 

 
4,469

Research and development expense

 

 

 
1,103

 

 
1,103

Selling, general, and administrative expense
5

 

 
1

 
4,917

 

 
4,923

Amortization of intangible assets

 

 

 
914

 

 
914

Restructuring charges, net

 

 

 
16

 

 
16

Acquisition-related items

 

 

 
51

 

 
51

Divestiture-related items

 

 

 
114

 

 
114

Gain on sale of businesses

 

 

 
(697
)
 

 
(697
)
Special charge

 

 

 
80

 

 
80

Other (income) expense, net
25

 
1

 

 
151

 

 
177

Operating profit (loss)
(30
)
 
(1
)
 
(1
)
 
3,322

 

 
3,290

Interest income

 
(32
)
 
(219
)
 
(239
)
 
298

 
(192
)
Interest expense
109

 
44

 
82

 
622

 
(298
)
 
559

Interest expense, net
109

 
12

 
(137
)
 
383

 

 
367

Equity in net (income) loss of subsidiaries
(3,169
)
 
(1,200
)
 
(3,033
)
 

 
7,402

 

Income before income taxes
3,030

 
1,187

 
3,169

 
2,939

 
(7,402
)
 
2,923

Income tax (benefit) provision
(3
)
 

 

 
(96
)
 

 
(99
)
Net income
3,033

 
1,187

 
3,169

 
3,035

 
(7,402
)
 
3,022

Net loss attributable to noncontrolling interests

 

 

 
11

 

 
11

Net income attributable to Medtronic
3,033

 
1,187

 
3,169

 
3,046

 
(7,402
)
 
3,033

Other comprehensive loss, net of tax
553

 
(201
)
 
553

 
553

 
(905
)
 
553

Other comprehensive loss attributable to
noncontrolling interests

 

 

 
11

 

 
11

Total comprehensive income (loss)
$
3,586

 
$
986

 
$
3,722

 
$
3,599

 
$
(8,307
)
 
$
3,586



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