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: 2018 | |||
Consolidated Statements of Income | |||
Period Ending Apr 27, 2018 10-K (Filed: June 22, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | |
| Net sales | $ 29,953 | 29,710 | 28,833 |
| Costs and expenses: | |||
| Cost of products sold | 9,055 | 9,291 | 9,142 |
| Research and development expense | 2,253 | 2,193 | 2,224 |
| Selling, general, and administrative expense | 9,974 | 9,711 | 9,469 |
| Amortization of intangible assets | 1,823 | 1,980 | 1,931 |
| Restructuring charges, net | 30 | 363 | 290 |
| Acquisition-related items | 104 | 220 | 283 |
| Certain litigation charges | 61 | 300 | 26 |
| Divestiture-related items | 114 | 0 | 0 |
| Gain on sale of businesses | (697) | 0 | 0 |
| Special charge | 80 | 100 | 0 |
| Other expense, net | 505 | 222 | 107 |
| Operating profit | 6,651 | 5,330 | 5,361 |
| Investment loss | 227 | 0 | 70 |
| Interest income | (397) | (366) | (431) |
| Interest expense | 1,146 | 1,094 | 1,386 |
| Interest expense, net | 749 | 728 | 955 |
| Income before income taxes | 5,675 | 4,602 | 4,336 |
| Income tax provision | 2,580 | 578 | 798 |
| Net income | 3,095 | 4,024 | 3,538 |
| Net loss attributable to noncontrolling interests | 9 | 4 | 0 |
| Net income attributable to Medtronic | 3,104 | 4,028 | 3,538 |
| Basic earnings per share (in dollars per share) | 2.29 | 2.92 | 2.51 |
| Diluted earnings per share (in dollars per share) | 2.27 | 2.89 | 2.48 |
| Basic weighted average shares outstanding (in shares) | 1,356,700 | 1,378,900 | 1,409,600 |
| Diluted weighted average shares outstanding (in shares) | 1,368,200 | 1,391,400 | 1,425,900 |
| Cash dividends declared per ordinary share (in dollars per share) | 1.84 | 1.72 | 1.52 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2018 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Apr 27, 2018 10-K (Filed: June 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | |
| Net income | $ 3,095 | 4,024 | 3,538 |
| Other comprehensive gain (loss), net of tax: | |||
| Unrealized (loss) gain on available-for-sale securities | (103) | 38 | (121) |
| Translation adjustment | 1,184 | (977) | (197) |
| Net change in retirement obligations | 167 | 68 | (66) |
| Unrealized (loss) gain on derivatives | (218) | 127 | (300) |
| Other comprehensive gain (loss) | 1,030 | (744) | (684) |
| Comprehensive income including noncontrolling interests | 4,125 | 3,280 | 2,854 |
| Comprehensive loss attributable to noncontrolling interests | 9 | 3 | 0 |
| Comprehensive income attributable to Medtronic | 4,134 | 3,283 | 2,854 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Apr 27, 2018 10-K (Filed: June 22, 2018) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 27, 2018 | Apr 28, 2017 | Apr 29, 2016 | |
| Operating Activities: | |||
| Net income | $ 3,095 | 4,024 | 3,538 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,644 | 2,917 | 2,820 |
| Amortization of debt premium, discount, and issuance costs | (13) | 11 | 29 |
| Acquisition-related items | (31) | (46) | 218 |
| Provision for doubtful accounts | 52 | 39 | 49 |
| Deferred income taxes | (919) | (459) | (460) |
| Stock-based compensation | 344 | 348 | 375 |
| Loss on debt extinguishment | 38 | 0 | 163 |
| Gain on sale of businesses | (697) | 0 | 0 |
| Investment loss | 227 | 0 | 70 |
| Other, net | 117 | (93) | (181) |
| Change in operating assets and liabilities, net of acquisitions and divestitures: | |||
| Accounts receivable, net | (275) | (75) | (435) |
| Inventories, net | (192) | (227) | (186) |
| Accounts payable and accrued liabilities | 65 | 356 | (379) |
| Other operating assets and liabilities | 229 | 85 | (403) |
| Net cash provided by operating activities | 4,684 | 6,880 | 5,218 |
| Investing Activities: | |||
| Acquisitions, net of cash acquired | (137) | (1,324) | (1,213) |
| Proceeds from sale of businesses | 6,058 | 0 | 0 |
| Additions to property, plant, and equipment | (1,068) | (1,254) | (1,046) |
| Purchases of investments | (3,200) | (4,371) | (5,406) |
| Sales and maturities of investments | 4,227 | 5,356 | 9,924 |
| Other investing activities, net | (22) | 22 | (14) |
| Net cash provided by (used in) investing activities | 5,858 | (1,571) | 2,245 |
| Financing Activities: | |||
| Acquisition-related contingent consideration | (48) | (69) | (22) |
| Change in current debt obligations, net | (249) | 906 | 7 |
| Repayment of short-term borrowings (maturities greater than 90 days) | (45) | (2) | (139) |
| Proceeds from short-term borrowings (maturities greater than 90 days) | 1 | 12 | 139 |
| Issuance of long-term debt | 21 | 2,140 | 0 |
| Payments on long-term debt | (7,370) | (863) | (5,132) |
| Dividends to shareholders | (2,494) | (2,376) | (2,139) |
| Issuance of ordinary shares | 403 | 428 | 491 |
| Repurchase of ordinary shares | (2,171) | (3,544) | (2,830) |
| Other financing activities | (2) | 85 | 82 |
| Net cash used in financing activities | (11,954) | (3,283) | (9,543) |
| Effect of exchange rate changes on cash and cash equivalents | 114 | 65 | 113 |
| Net change in cash and cash equivalents | (1,298) | 2,091 | (1,967) |
| Cash and cash equivalents at beginning of period | 4,967 | 2,876 | |
| Cash and cash equivalents at end of period | 3,669 | 4,967 | 2,876 |
| Supplemental Cash Flow Information | |||
| Cash paid for: | |||
| Income taxes | 2,542 | 1,029 | 1,379 |
| Interest | 1,147 | 1,134 | 1,266 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MEDTRONIC PLC | ||
Ticker: MDT Fiscal Year: 2018 | ||
Consolidated Balance Sheets | ||
Period Ending Apr 27, 2018 10-K (Filed: June 22, 2018) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Apr 27, 2018 | Apr 28, 2017 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,669 | 4,967 |
| Investments | 7,558 | 8,741 |
| Accounts receivable, less allowances of $193 and $155, respectively | 5,987 | 5,591 |
| Inventories, net | 3,579 | 3,338 |
| Other current assets | 2,187 | 1,865 |
| Current assets held for sale | 0 | 371 |
| Total current assets | 22,980 | 24,873 |
| Property, plant, and equipment, net | 4,604 | 4,361 |
| Goodwill | 39,543 | 38,515 |
| Other intangible assets, net | 21,723 | 23,407 |
| Tax assets | 1,465 | 1,550 |
| Other assets | 1,078 | 1,232 |
| Noncurrent assets held for sale | 0 | 5,919 |
| Total assets | 91,393 | 99,857 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Current debt obligations | 2,058 | 7,520 |
| Accounts payable | 1,628 | 1,555 |
| Accrued compensation | 1,988 | 1,904 |
| Accrued income taxes | 979 | 633 |
| Other accrued expenses | 3,431 | 2,618 |
| Current liabilities held for sale | 0 | 34 |
| Total current liabilities | 10,084 | 14,264 |
| Long-term debt | 23,699 | 25,921 |
| Accrued compensation and retirement benefits | 1,425 | 1,724 |
| Accrued income taxes | 3,051 | 2,405 |
| Deferred tax liabilities | 1,423 | 2,978 |
| Other liabilities | 889 | 1,515 |
| Noncurrent liabilities held for sale | 0 | 720 |
| Total liabilities | 40,571 | 49,527 |
| Commitments and contingencies (Notes 2, 17, and 19) | ||
| Shareholders equity: | ||
| Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,354,218,154 and 1,369,424,818 shares issued and outstanding, respectively | 0 | 0 |
| Additional paid-in capital | 28,127 | 29,551 |
| Retained earnings | 24,379 | 23,270 |
| Accumulated other comprehensive loss | (1,786) | (2,613) |
| Total shareholders equity | 50,720 | 50,208 |
| Noncontrolling interests | 102 | 122 |
| Total equity | 50,822 | 50,330 |
| Total liabilities and equity | 91,393 | 99,857 |
| External Links | |
| MEDTRONIC PLC (MDT) Fiscal Year 2018 | |
| 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 |