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: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Apr 24, 2020 10-K (Filed: June 19, 2020) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
| Net sales | $ 28,913 | 30,557 | 29,953 |
| Costs and expenses: | |||
| Cost of products sold | 9,424 | 9,155 | 9,067 |
| Research and development expense | 2,331 | 2,330 | 2,256 |
| Selling, general, and administrative expense | 10,109 | 10,418 | 10,238 |
| Amortization of intangible assets | 1,756 | 1,764 | 1,823 |
| Restructuring charges, net | 118 | 198 | 30 |
| Certain litigation charges | 313 | 166 | 61 |
| Gain on sale of businesses | 0 | 0 | (697) |
| Other operating expense, net | 71 | 258 | 535 |
| Operating profit | 4,791 | 6,268 | 6,640 |
| Other non-operating income, net | (356) | (373) | (181) |
| Interest expense | 1,092 | 1,444 | 1,146 |
| Income before income taxes | 4,055 | 5,197 | 5,675 |
| Income tax (benefit) provision | (751) | 547 | 2,580 |
| Net income | 4,806 | 4,650 | 3,095 |
| Net (income) loss attributable to noncontrolling interests | (17) | (19) | 9 |
| Net income attributable to Medtronic | 4,789 | 4,631 | 3,104 |
| Basic earnings per share (in dollars per share) | 3.57 | 3.44 | 2.29 |
| Diluted earnings per share (in dollars per share) | 3.54 | 3.41 | 2.27 |
| Basic weighted average shares outstanding (in shares) | 1,340,700 | 1,346,400 | 1,356,700 |
| Diluted weighted average shares outstanding (in shares) | 1,351,100 | 1,357,500 | 1,368,200 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Apr 24, 2020 10-K (Filed: June 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
| Net income | $ 4,806 | 4,650 | 3,095 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized gain (loss) on investment securities | 45 | 102 | (103) |
| Translation adjustment | (829) | (1,375) | 1,184 |
| Net investment hedge | 405 | 88 | 0 |
| Net change in retirement obligations | (544) | (191) | 167 |
| Unrealized (loss) gain on cash flow hedges | 72 | ||
| Unrealized (loss) gain on cash flow hedges | 401 | (218) | |
| Other comprehensive (loss) income | (851) | (975) | 1,030 |
| Comprehensive income including noncontrolling interests | 3,955 | 3,675 | 4,125 |
| Comprehensive (income) loss attributable to noncontrolling interests | (15) | (16) | 9 |
| Comprehensive income attributable to Medtronic | 3,940 | 3,659 | 4,134 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Apr 24, 2020 10-K (Filed: June 19, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 24, 2020 | Apr 26, 2019 | Apr 27, 2018 | |
| Operating Activities: | |||
| Net income | $ 4,806 | 4,650 | 3,095 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,663 | 2,659 | 2,644 |
| Provision for doubtful accounts | 99 | 78 | 52 |
| Deferred income taxes | (1,315) | (304) | (919) |
| Stock-based compensation | 297 | 290 | 344 |
| Loss on debt extinguishment | 406 | 457 | 38 |
| Gain on sale of businesses | 0 | 0 | (697) |
| Investment loss | 0 | 0 | 227 |
| Other, net | 217 | 257 | 73 |
| Change in operating assets and liabilities, net of acquisitions and divestitures: | |||
| Accounts receivable, net | 1,291 | (581) | (275) |
| Inventories, net | (577) | (274) | (192) |
| Accounts payable and accrued liabilities | (44) | 399 | 65 |
| Other operating assets and liabilities | (609) | (624) | 229 |
| Net cash provided by operating activities | 7,234 | 7,007 | 4,684 |
| Investing Activities: | |||
| Acquisitions, net of cash acquired | (488) | (1,827) | (137) |
| Proceeds from sale of businesses | 0 | 0 | 6,058 |
| Additions to property, plant, and equipment | (1,213) | (1,134) | (1,068) |
| Purchases of investments | (11,039) | (2,532) | (3,200) |
| Sales and maturities of investments | 9,574 | 4,683 | 4,227 |
| Other investing activities, net | (37) | 36 | (22) |
| Net cash (used in) provided by investing activities | (3,203) | (774) | 5,858 |
| Financing Activities: | |||
| Change in current debt obligations, net | (17) | (713) | (249) |
| Issuance of long-term debt | 5,568 | 7,794 | 21 |
| Payments on long-term debt | (6,110) | (7,948) | (7,370) |
| Dividends to shareholders | (2,894) | (2,693) | (2,494) |
| Issuance of ordinary shares | 662 | 992 | 403 |
| Repurchase of ordinary shares | (1,326) | (2,877) | (2,171) |
| Other financing activities | (81) | 14 | (94) |
| Net cash used in financing activities | (4,198) | (5,431) | (11,954) |
| Effect of exchange rate changes on cash and cash equivalents | (86) | (78) | 114 |
| Net change in cash and cash equivalents | (253) | 724 | (1,298) |
| Cash and cash equivalents at beginning of period | 4,393 | 3,669 | |
| Cash and cash equivalents at end of period | 4,140 | 4,393 | 3,669 |
| Supplemental Cash Flow Information | |||
| Cash paid for: | |||
| Income taxes | 878 | 1,558 | 2,542 |
| Interest | 643 | 973 | 1,147 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MEDTRONIC PLC | ||
Ticker: MDT Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Apr 24, 2020 10-K (Filed: June 19, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Apr 24, 2020 | Apr 26, 2019 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 4,140 | 4,393 |
| Investments | 6,808 | 5,455 |
| Accounts receivable, less allowances of $208 and $190, respectively | 4,645 | 6,222 |
| Inventories, net | 4,229 | 3,753 |
| Other current assets | 2,209 | 2,144 |
| Total current assets | 22,031 | 21,967 |
| Property, plant, and equipment, net | 4,828 | 4,675 |
| Goodwill | 39,841 | 39,959 |
| Other intangible assets, net | 19,063 | 20,560 |
| Tax assets | 2,832 | 1,519 |
| Other assets | 2,094 | 1,014 |
| Total assets | 90,689 | 89,694 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Current debt obligations | 2,776 | 838 |
| Accounts payable | 1,996 | 1,953 |
| Accrued compensation | 2,099 | 2,189 |
| Accrued income taxes | 502 | 567 |
| Other accrued expenses | 2,993 | 2,925 |
| Total current liabilities | 10,366 | 8,472 |
| Long-term debt | 22,021 | 24,486 |
| Accrued compensation and retirement benefits | 1,910 | 1,651 |
| Accrued income taxes | 2,682 | 2,838 |
| Deferred tax liabilities | 1,174 | 1,278 |
| Other liabilities | 1,664 | 757 |
| Total liabilities | 39,817 | 39,482 |
| Commitments and contingencies (Notes 3, 17, and 19) | ||
| Shareholders equity: | ||
| Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,341,074,724 and 1,340,697,595 shares issued and outstanding, respectively | 0 | 0 |
| Additional paid-in capital | 26,165 | 26,532 |
| Retained earnings | 28,132 | 26,270 |
| Accumulated other comprehensive loss | (3,560) | (2,711) |
| Total shareholders equity | 50,737 | 50,091 |
| Noncontrolling interests | 135 | 121 |
| Total equity | 50,872 | 50,212 |
| Total liabilities and equity | 90,689 | 89,694 |
| External Links | |
| MEDTRONIC PLC (MDT) Fiscal Year 2020 | |
| 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 |