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: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Apr 29, 2016 10-K (Filed: June 28, 2016) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | |
| Net sales | $ 28,833 | 20,261 | 17,005 |
| Costs and expenses: | |||
| Cost of products sold | 9,142 | 6,309 | 4,333 |
| Research and development expense | 2,224 | 1,640 | 1,477 |
| Selling, general, and administrative expense | 9,469 | 6,904 | 5,847 |
| Special charges (gains), net | 70 | (38) | 40 |
| Restructuring charges, net | 290 | 237 | 78 |
| Certain litigation charges, net | 26 | 42 | 770 |
| Acquisition-related items | 283 | 550 | 117 |
| Amortization of intangible assets | 1,931 | 733 | 349 |
| Other expense, net | 107 | 118 | 181 |
| Operating profit | 5,291 | 3,766 | 3,813 |
| Interest income | (431) | (386) | (271) |
| Interest expense | 1,386 | 666 | 379 |
| Interest expense, net | 955 | 280 | 108 |
| Income from operations before income taxes | 4,336 | 3,486 | 3,705 |
| Provision for income taxes | 798 | 811 | 640 |
| Net income | 3,538 | 2,675 | 3,065 |
| Basic earnings per share (in dollars per share) | 2.51 | 2.44 | 3.06 |
| Diluted earnings per share (in dollars per share) | 2.48 | 2.41 | 3.02 |
| Basic weighted average shares outstanding (shares) | 1,409,600 | 1,095,500 | 1,002,100 |
| Diluted weighted average shares outstanding (in shares) | 1,425,900 | 1,109,000 | 1,013,600 |
| Cash dividends declared per common share (in dollars per share) | 1.52 | 1.22 | 1.12 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2016 | |||
Consolidated Statements of Comprehensive Income Statement | |||
Period Ending Apr 29, 2016 10-K (Filed: June 28, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | |
| Net income | $ 3,538 | 2,675 | 3,065 |
| Unrealized (loss) gain on available-for-sale securities, net of tax (benefit) expense of $(102), $11, and $(58), respectively | (121) | 20 | (103) |
| Translation adjustment | (197) | (495) | 13 |
| Net change in retirement obligations, net of tax (benefit) expense of $(46), $(173), and $72, respectively | (66) | (366) | 87 |
| Unrealized (loss) gain on derivatives, net of tax (benefit) expense of $(172), $146, and $(60), respectively | (300) | 254 | (102) |
| Other comprehensive loss, net of tax | (684) | (587) | (105) |
| Comprehensive income | 2,854 | 2,088 | 2,960 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Apr 29, 2016 10-K (Filed: June 28, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 29, 2016 | Apr 24, 2015 | Apr 25, 2014 | |
| Cash and Cash Equivalents, Period Increase (Decrease) [Abstract] | |||
| Operating Activities: | |||
| Net income | $ 3,538 | 2,675 | 3,065 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,820 | 1,306 | 850 |
| Amortization of debt discount and issuance costs | 29 | 76 | 8 |
| Acquisition-related items | 218 | 634 | 110 |
| Provision for doubtful accounts | 49 | 35 | 43 |
| Deferred income taxes | (460) | (926) | (207) |
| Stock-based compensation | 375 | 439 | 145 |
| Loss on debt extinguishment | 163 | 0 | 0 |
| Other, net | (111) | (134) | (28) |
| Change in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable, net | (435) | (413) | (70) |
| Inventories | (186) | (282) | (39) |
| Accounts payable and accrued liabilities | (65) | 1,616 | (117) |
| Other operating assets and liabilities | (403) | 643 | 444 |
| Certain litigation charges, net | 26 | 42 | 770 |
| Certain litigation payments | (340) | (809) | (15) |
| Net cash provided by operating activities | 5,218 | 4,902 | 4,959 |
| Investing Activities: | |||
| Acquisitions, net of cash acquired | (1,213) | (14,884) | (385) |
| Additions to property, plant, and equipment | (1,046) | (571) | (396) |
| Purchases of marketable securities | (5,406) | (7,582) | (10,895) |
| Sales and maturities of marketable securities | 9,924 | 5,890 | 8,111 |
| Other investing activities, net | (14) | 89 | (29) |
| Net cash provided by (used in) investing activities | 2,245 | (17,058) | (3,594) |
| Financing Activities: | |||
| Acquisition-related contingent consideration | (22) | (85) | (1) |
| Change in short-term borrowings, net | 7 | (1) | 127 |
| Repayment of short-term borrowings (maturities greater than 90 days) | (139) | (150) | (1,301) |
| Proceeds from short-term borrowings (maturities greater than 90 days) | 139 | 150 | 1,176 |
| Issuance of long-term debt | 0 | 19,942 | 1,994 |
| Payments on long-term debt | (5,132) | (1,268) | (565) |
| Dividends to shareholders | (2,139) | (1,337) | (1,116) |
| Issuance of ordinary shares | 491 | 649 | 1,307 |
| Repurchase of ordinary shares | (2,830) | (1,920) | (2,553) |
| Other financing activities | 82 | (31) | 14 |
| Net cash (used in) provided by financing activities | (9,543) | 15,949 | (918) |
| Effect of exchange rate changes on cash and cash equivalents | 113 | (353) | 37 |
| Net change in cash and cash equivalents | (1,967) | 3,440 | 484 |
| Cash and cash equivalents at beginning of period | 4,843 | 1,403 | |
| Cash and cash equivalents at end of period | 2,876 | 4,843 | 1,403 |
| Supplemental Cash Flow Information | |||
| Income taxes | 1,379 | 632 | 521 |
| Interest | 1,266 | 578 | 394 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MEDTRONIC PLC | ||
Ticker: MDT Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Apr 29, 2016 10-K (Filed: June 28, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Apr 29, 2016 | Apr 24, 2015 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 2,876 | 4,843 |
| Investments | 9,758 | 14,637 |
| Accounts receivable, less allowances of $161 and $144, respectively | 5,562 | 5,112 |
| Inventories | 3,473 | 3,463 |
| Tax assets | 697 | 1,335 |
| Prepaid expenses and other current assets | 1,234 | 1,454 |
| Total current assets | 23,600 | 30,844 |
| Property, plant, and equipment, net | 4,841 | 4,699 |
| Goodwill | 41,500 | 40,530 |
| Other intangible assets, net | 26,899 | 28,101 |
| Long-term tax assets | 1,383 | 774 |
| Other assets | 1,559 | 1,737 |
| Total assets | 99,782 | 106,685 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| Current liabilities: | ||
| Short-term borrowings | 993 | 2,434 |
| Accounts payable | 1,709 | 1,610 |
| Accrued compensation | 1,712 | 1,611 |
| Accrued income taxes | 566 | 935 |
| Deferred tax liabilities | 0 | 119 |
| Other accrued expenses | 2,185 | 2,464 |
| Total current liabilities | 7,165 | 9,173 |
| Long-term debt | 30,247 | 33,752 |
| Long-term accrued compensation and retirement benefits | 1,759 | 1,535 |
| Long-term accrued income taxes | 2,903 | 2,476 |
| Long-term deferred tax liabilities | 3,729 | 4,700 |
| Other long-term liabilities | 1,916 | 1,819 |
| Total liabilities | 47,719 | 53,455 |
| Commitments and contingencies | ||
| Shareholders equity: | ||
| Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,399,018,022 and 1,421,648,005 shares issued and outstanding, respectively | 0 | 0 |
| Retained earnings | 53,931 | 54,414 |
| Accumulated other comprehensive (loss) income | (1,868) | (1,184) |
| Total shareholders equity | 52,063 | 53,230 |
| Total liabilities and shareholders equity | 99,782 | 106,685 |
| External Links | |
| MEDTRONIC PLC (MDT) Fiscal Year 2016 | |
| 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 |