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: 2023 | |||
Consolidated Statements of Income | |||
Period Ending Apr 28, 2023 10-K (Filed: June 22, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | |
| Net sales | $ 31,227 | 31,686 | 30,117 |
| Costs and expenses: | |||
| Cost of products sold, excluding amortization of intangible assets | 10,719 | 10,145 | 10,483 |
| Research and development expense | 2,696 | 2,746 | 2,493 |
| Selling, general, and administrative expense | 10,415 | 10,292 | 10,148 |
| Amortization of intangible assets | 1,698 | 1,733 | 1,783 |
| Restructuring charges, net | 375 | 60 | 293 |
| Certain litigation charges, net | (30) | 95 | 118 |
| Other operating (income) expense, net | (131) | 862 | 315 |
| Operating profit | 5,485 | 5,752 | 4,484 |
| Other non-operating income, net | (515) | (318) | (336) |
| Interest expense, net | 636 | 553 | 925 |
| Income before income taxes | 5,364 | 5,517 | 3,895 |
| Income tax provision | 1,580 | 456 | 265 |
| Net income | 3,784 | 5,062 | 3,630 |
| Net income attributable to noncontrolling interests | (26) | (22) | (24) |
| Net income attributable to Medtronic | 3,758 | 5,039 | 3,606 |
| Basic earnings per share (in dollars per share) | 2.83 | 3.75 | 2.68 |
| Diluted earnings per share (in dollars per share) | 2.82 | 3.73 | 2.66 |
| Basic weighted average shares outstanding (in shares) | 1,329,800 | 1,342,400 | 1,344,900 |
| Diluted weighted average shares outstanding (in shares) | 1,332,800 | 1,351,400 | 1,354,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2023 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Apr 28, 2023 10-K (Filed: June 22, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | |
| Net income | $ 3,784 | 5,062 | 3,630 |
| Other comprehensive (loss) income, net of tax: | |||
| Unrealized (loss) gain on investment securities | (49) | (301) | 92 |
| Translation adjustment | (240) | (2,086) | 1,699 |
| Net investment hedge | (596) | 2,299 | (1,694) |
| Net change in retirement obligations | 32 | 574 | 505 |
| Unrealized (loss) gain on cash flow hedges | (381) | 727 | (519) |
| Other comprehensive (loss) income | (1,234) | 1,213 | 83 |
| Comprehensive income including noncontrolling interests | 2,549 | 6,274 | 3,713 |
| Comprehensive income attributable to noncontrolling interests | (26) | (16) | (32) |
| Comprehensive income attributable to Medtronic | 2,524 | 6,258 | 3,681 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2023 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Apr 28, 2023 10-K (Filed: June 22, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 28, 2023 | Apr 29, 2022 | Apr 30, 2021 | |
| Operating Activities: | |||
| Net income | $ 3,784 | 5,062 | 3,630 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,697 | 2,707 | 2,702 |
| Provision for credit losses | 73 | 58 | 128 |
| Deferred income taxes | (226) | (604) | (422) |
| Stock-based compensation | 355 | 359 | 344 |
| Loss on debt extinguishment | 53 | 0 | 308 |
| Asset impairment charges | 0 | 515 | 0 |
| Other, net | 270 | 138 | 251 |
| Change in operating assets and liabilities, net of acquisitions and divestitures: | |||
| Accounts receivable, net | (576) | (477) | (761) |
| Inventories, net | (939) | (560) | 78 |
| Accounts payable and accrued liabilities | 696 | 213 | 531 |
| Other operating assets and liabilities | (148) | (65) | (549) |
| Net cash provided by operating activities | 6,039 | 7,346 | 6,240 |
| Investing Activities: | |||
| Acquisitions, net of cash acquired | (1,867) | (91) | (994) |
| Additions to property, plant, and equipment | (1,459) | (1,368) | (1,355) |
| Purchases of investments | (7,514) | (9,882) | (11,808) |
| Sales and maturities of investments | 7,343 | 9,692 | 11,345 |
| Other investing activities, net | 4 | (10) | (54) |
| Net cash used in investing activities | (3,493) | (1,659) | (2,866) |
| Financing Activities: | |||
| Change in current debt obligations, net | 0 | 0 | (311) |
| Proceeds from short-term borrowings (maturities greater than 90 days) | 2,284 | 0 | 2,789 |
| Repayments from short-term borrowings (maturities greater than 90 days) | (2,279) | 0 | (2,853) |
| Issuance of long-term debt | 5,409 | 0 | 7,172 |
| Payments on long-term debt | (6,012) | (1) | (7,367) |
| Dividends to shareholders | (3,616) | (3,383) | (3,120) |
| Issuance of ordinary shares | 308 | 429 | 474 |
| Repurchase of ordinary shares | (645) | (2,544) | (652) |
| Other financing activities | (409) | 163 | (268) |
| Net cash used in financing activities | (4,960) | (5,336) | (4,136) |
| Effect of exchange rate changes on cash and cash equivalents | 243 | (231) | 215 |
| Net change in cash and cash equivalents | (2,171) | 121 | (547) |
| Cash and cash equivalents at beginning of period | 3,714 | 3,593 | |
| Cash and cash equivalents at end of period | 1,543 | 3,714 | 3,593 |
| Supplemental Cash Flow Information | |||
| Cash paid for: | |||
| Income taxes | 1,548 | 996 | 1,250 |
| Interest | 606 | 540 | 582 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MEDTRONIC PLC | ||
Ticker: MDT Fiscal Year: 2023 | ||
Consolidated Balance Sheets | ||
Period Ending Apr 28, 2023 10-K (Filed: June 22, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Apr 28, 2023 | Apr 29, 2022 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 1,543 | 3,714 |
| Investments | 6,416 | 6,859 |
| Accounts receivable, less allowances and credit losses of $176 and $230, respectively | 5,998 | 5,551 |
| Inventories, net | 5,293 | 4,616 |
| Other current assets | 2,425 | 2,318 |
| Total current assets | 21,675 | 23,059 |
| Property, plant, and equipment, net | 5,569 | 5,413 |
| Goodwill | 41,425 | 40,502 |
| Other intangible assets, net | 14,844 | 15,595 |
| Tax assets | 3,477 | 3,403 |
| Other assets | 3,959 | 3,008 |
| Total assets | 90,948 | 90,981 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Current debt obligations | 20 | 3,742 |
| Accounts payable | 2,662 | 2,276 |
| Accrued compensation | 1,949 | 2,121 |
| Accrued income taxes | 840 | 704 |
| Other accrued expenses | 3,581 | 3,551 |
| Total current liabilities | 9,051 | 12,394 |
| Long-term debt | 24,344 | 20,372 |
| Accrued compensation and retirement benefits | 1,093 | 1,113 |
| Accrued income taxes | 2,360 | 2,087 |
| Deferred tax liabilities | 708 | 884 |
| Other liabilities | 1,727 | 1,410 |
| Total liabilities | 39,283 | 38,260 |
| Commitments and contingencies (Notes 3, 16, and 18) | ||
| Shareholders equity: | ||
| Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,330,809,036 and 1,330,743,395 shares issued and outstanding, respectively | 0 | 0 |
| Additional paid-in capital | 24,590 | 24,566 |
| Retained earnings | 30,392 | 30,250 |
| Accumulated other comprehensive loss | (3,499) | (2,265) |
| Total shareholders equity | 51,483 | 52,551 |
| Noncontrolling interests | 182 | 171 |
| Total equity | 51,665 | 52,722 |
| Total liabilities and equity | 90,948 | 90,981 |
| External Links | |
| MEDTRONIC PLC (MDT) Fiscal Year 2023 | |