10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Apr 29, 2022 10-K (Filed: June 23, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | |
| Net sales | $ 31,686 | 30,117 | 28,913 |
| Costs and expenses: | |||
| Cost of products sold, excluding amortization of intangible assets | 10,145 | 10,483 | 9,424 |
| Research and development expense | 2,746 | 2,493 | 2,331 |
| Selling, general, and administrative expense | 10,292 | 10,148 | 10,109 |
| Amortization of intangible assets | 1,733 | 1,783 | 1,756 |
| Restructuring charges, net | 60 | 293 | 118 |
| Certain litigation charges | 95 | 118 | 313 |
| Other operating expense, net | 862 | 315 | 71 |
| Operating profit | 5,752 | 4,484 | 4,791 |
| Other non-operating income, net | (318) | (336) | (356) |
| Interest expense | 553 | 925 | 1,092 |
| Income before income taxes | 5,517 | 3,895 | 4,055 |
| Income tax provision (benefit) | 456 | 265 | (751) |
| Net income | 5,062 | 3,630 | 4,806 |
| Net income attributable to noncontrolling interests | (22) | (24) | (17) |
| Net income attributable to Medtronic | 5,039 | 3,606 | 4,789 |
| Basic earnings per share (in dollars per share) | 3.75 | 2.68 | 3.57 |
| Diluted earnings per share (in dollars per share) | 3.73 | 2.66 | 3.54 |
| Basic weighted average shares outstanding (in shares) | 1,342,400 | 1,344,900 | 1,340,700 |
| Diluted weighted average shares outstanding (in shares) | 1,351,400 | 1,354,000 | 1,351,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Apr 29, 2022 10-K (Filed: June 23, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | |
| Net income | $ 5,062 | 3,630 | 4,806 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized (loss) gain on investment securities | (301) | 92 | 45 |
| Translation adjustment | (2,086) | 1,699 | (829) |
| Net investment hedge | 2,299 | (1,694) | 405 |
| Net change in retirement obligations | 574 | 505 | (544) |
| Unrealized (loss) gain on cash flow hedges | 727 | (519) | 72 |
| Other comprehensive income (loss) | 1,213 | 83 | (851) |
| Comprehensive income including noncontrolling interests | 6,274 | 3,713 | 3,955 |
| Comprehensive income attributable to noncontrolling interests | (16) | (32) | (15) |
| Comprehensive income attributable to Medtronic | 6,258 | 3,681 | 3,940 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Apr 29, 2022 10-K (Filed: June 23, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 29, 2022 | Apr 30, 2021 | Apr 24, 2020 | |
| Operating Activities: | |||
| Net income | $ 5,062 | 3,630 | 4,806 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,707 | 2,702 | 2,663 |
| Provision for credit losses | 58 | 128 | 99 |
| Deferred income taxes | (604) | (422) | (1,315) |
| Stock-based compensation | 359 | 344 | 297 |
| Loss on debt extinguishment | 0 | 308 | 406 |
| Asset impairment charges | 515 | 0 | 0 |
| Other, net | 138 | 251 | 217 |
| Change in operating assets and liabilities, net of acquisitions and divestitures: | |||
| Accounts receivable, net | (477) | (761) | 1,291 |
| Inventories, net | (560) | 78 | (577) |
| Accounts payable and accrued liabilities | 213 | 531 | (44) |
| Other operating assets and liabilities | (65) | (549) | (609) |
| Net cash provided by operating activities | 7,346 | 6,240 | 7,234 |
| Investing Activities: | |||
| Acquisitions, net of cash acquired | (91) | (994) | (488) |
| Additions to property, plant, and equipment | (1,368) | (1,355) | (1,213) |
| Purchases of investments | (9,882) | (11,808) | (11,039) |
| Sales and maturities of investments | 9,692 | 11,345 | 9,574 |
| Other investing activities, net | (10) | (54) | (37) |
| Net cash used in investing activities | (1,659) | (2,866) | (3,203) |
| Financing Activities: | |||
| Change in current debt obligations, net | 0 | (311) | (17) |
| Proceeds from short-term borrowings (maturities greater than 90 days) | 0 | 2,789 | 0 |
| Repayments from short-term borrowings (maturities greater than 90 days) | 0 | (2,853) | 0 |
| Issuance of long-term debt | 0 | 7,172 | 5,568 |
| Payments on long-term debt | (1) | (7,367) | (6,110) |
| Dividends to shareholders | (3,383) | (3,120) | (2,894) |
| Issuance of ordinary shares | 429 | 474 | 662 |
| Repurchase of ordinary shares | (2,544) | (652) | (1,326) |
| Other financing activities | 163 | (268) | (81) |
| Net cash used in financing activities | (5,336) | (4,136) | (4,198) |
| Effect of exchange rate changes on cash and cash equivalents | (231) | 215 | (86) |
| Net change in cash and cash equivalents | 121 | (547) | (253) |
| Cash and cash equivalents at beginning of period | 3,593 | 4,140 | |
| Cash and cash equivalents at end of period | 3,714 | 3,593 | 4,140 |
| Supplemental Cash Flow Information | |||
| Cash paid for: | |||
| Income taxes | 996 | 1,250 | 878 |
| Interest | 540 | 582 | 643 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MEDTRONIC PLC | ||
Ticker: MDT Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Apr 29, 2022 10-K (Filed: June 23, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Apr 29, 2022 | Apr 30, 2021 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,714 | 3,593 |
| Investments | 6,859 | 7,224 |
| Accounts receivable, less allowances and credit losses of $230 and $241, respectively | 5,551 | 5,462 |
| Inventories, net | 4,616 | 4,313 |
| Other current assets | 2,318 | 1,955 |
| Total current assets | 23,059 | 22,548 |
| Property, plant, and equipment, net | 5,413 | 5,221 |
| Goodwill | 40,502 | 41,961 |
| Other intangible assets, net | 15,595 | 17,740 |
| Tax assets | 3,403 | 3,169 |
| Other assets | 3,008 | 2,443 |
| Total assets | 90,981 | 93,083 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Current debt obligations | 3,742 | 11 |
| Accounts payable | 2,276 | 2,106 |
| Accrued compensation | 2,121 | 2,482 |
| Accrued income taxes | 704 | 435 |
| Other accrued expenses | 3,551 | 3,475 |
| Total current liabilities | 12,394 | 8,509 |
| Long-term debt | 20,372 | 26,378 |
| Accrued compensation and retirement benefits | 1,113 | 1,557 |
| Accrued income taxes | 2,087 | 2,251 |
| Deferred tax liabilities | 884 | 1,028 |
| Other liabilities | 1,410 | 1,756 |
| Total liabilities | 38,260 | 41,481 |
| Commitments and contingencies (Notes 3, 16, and 18) | ||
| Shareholders equity: | ||
| Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,330,743,395 and 1,345,400,671 shares issued and outstanding, respectively | 0 | 0 |
| Additional paid-in capital | 24,566 | 26,319 |
| Retained earnings | 30,250 | 28,594 |
| Accumulated other comprehensive loss | (2,265) | (3,485) |
| Total shareholders equity | 52,551 | 51,428 |
| Noncontrolling interests | 171 | 174 |
| Total equity | 52,722 | 51,602 |
| Total liabilities and equity | 90,981 | 93,083 |
| External Links | |
| MEDTRONIC PLC (MDT) Fiscal Year 2022 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |