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

 
$

 
$

 
$
7,345

 
$

 
$
7,345

 
 
 
 
 
 
 
 
 
 
 
 
Costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Cost of products sold

 

 

 
2,326

 

 
2,326

Research and development expense

 

 

 
554

 

 
554

Selling, general, and administrative expense
3

 

 
1

 
2,412

 

 
2,416

Amortization of intangible assets

 

 

 
500

 

 
500

Restructuring charges, net

 

 

 
47

 

 
47

Acquisition-related items

 

 

 
28

 

 
28

Other (income) expense, net
(86
)
 

 

 
175

 

 
89

Operating profit (loss)
83

 

 
(1
)
 
1,303

 

 
1,385

Interest income

 
(18
)
 
(166
)
 
(102
)
 
195

 
(91
)
Interest expense
25

 
23

 
11

 
400

 
(195
)
 
264

Interest expense, net
25

 
5

 
(155
)
 
298

 

 
173

Equity in net (income) loss of subsidiaries
(1,055
)
 
(445
)
 
(901
)
 

 
2,401

 

Income before income taxes
1,113

 
440

 
1,055

 
1,005

 
(2,401
)
 
1,212

Income tax (benefit) provision
(2
)
 

 

 
103

 

 
101

Net income
1,115

 
440

 
1,055

 
902

 
(2,401
)
 
1,111

Net loss attributable to noncontrolling interests

 

 

 
4

 


4

Net income attributable to Medtronic
1,115

 
440

 
1,055

 
906

 
(2,401
)

1,115

Other comprehensive income (loss), net of tax
(304
)
 
(23
)
 
(304
)
 
(304
)
 
631

 
(304
)
Other comprehensive loss attributable to
noncontrolling interests

 

 

 
4

 

 
4

Total comprehensive income
$
811

 
$
417

 
$
751

 
$
602

 
$
(1,770
)
 
$
811



46

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