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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Apr 30, 2021 10-K (Filed: June 25, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | |
| Net sales | $ 30,117 | 28,913 | 30,557 |
| Costs and expenses: | |||
| Cost of products sold | 10,483 | 9,424 | 9,155 |
| Research and development expense | 2,493 | 2,331 | 2,330 |
| Selling, general, and administrative expense | 10,148 | 10,109 | 10,418 |
| Amortization of intangible assets | 1,783 | 1,756 | 1,764 |
| Restructuring charges, net | 293 | 118 | 198 |
| Certain litigation charges | 118 | 313 | 166 |
| Other operating expense, net | 315 | 71 | 258 |
| Operating profit | 4,484 | 4,791 | 6,268 |
| Other non-operating income, net | (336) | (356) | (373) |
| Interest expense | 925 | 1,092 | 1,444 |
| Income before income taxes | 3,895 | 4,055 | 5,197 |
| Income tax provision (benefit) | 265 | (751) | 547 |
| Net income | 3,630 | 4,806 | 4,650 |
| Net income attributable to noncontrolling interests | (24) | (17) | (19) |
| Net income attributable to Medtronic | 3,606 | 4,789 | 4,631 |
| Basic earnings per share (in dollars per share) | 2.68 | 3.57 | 3.44 |
| Diluted earnings per share (in dollars per share) | 2.66 | 3.54 | 3.41 |
| Basic weighted average shares outstanding (in shares) | 1,344,900 | 1,340,700 | 1,346,400 |
| Diluted weighted average shares outstanding (in shares) | 1,354,000 | 1,351,100 | 1,357,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Apr 30, 2021 10-K (Filed: June 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | |
| Net income | $ 3,630 | 4,806 | 4,650 |
| Other comprehensive income (loss), net of tax: | |||
| Unrealized gain on investment securities | 92 | 45 | 102 |
| Translation adjustment | 1,699 | (829) | (1,375) |
| Net investment hedge | (1,694) | 405 | 88 |
| Net change in retirement obligations | 505 | (544) | (191) |
| Unrealized (loss) gain on cash flow hedges | (519) | 72 | |
| Unrealized (loss) gain on cash flow hedges | 401 | ||
| Other comprehensive income (loss) | 83 | (851) | (975) |
| Comprehensive income including noncontrolling interests | 3,713 | 3,955 | 3,675 |
| Comprehensive income attributable to noncontrolling interests | (32) | (15) | (16) |
| Comprehensive income attributable to Medtronic | 3,681 | 3,940 | 3,659 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
MEDTRONIC PLC | |||
Ticker: MDT Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Apr 30, 2021 10-K (Filed: June 25, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Apr 30, 2021 | Apr 24, 2020 | Apr 26, 2019 | |
| Operating Activities: | |||
| Net income | $ 3,630 | 4,806 | 4,650 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 2,702 | 2,663 | 2,659 |
| Provision for doubtful accounts | 128 | 99 | 78 |
| Deferred income taxes | (422) | (1,315) | (304) |
| Stock-based compensation | 344 | 297 | 290 |
| Loss on debt extinguishment | 308 | 406 | 457 |
| Other, net | 251 | 217 | 257 |
| Change in operating assets and liabilities, net of acquisitions and divestitures: | |||
| Accounts receivable, net | (761) | 1,291 | (581) |
| Inventories, net | 78 | (577) | (274) |
| Accounts payable and accrued liabilities | 531 | (44) | 399 |
| Other operating assets and liabilities | (549) | (609) | (624) |
| Net cash provided by operating activities | 6,240 | 7,234 | 7,007 |
| Investing Activities: | |||
| Acquisitions, net of cash acquired | (994) | (488) | (1,827) |
| Additions to property, plant, and equipment | (1,355) | (1,213) | (1,134) |
| Purchases of investments | (11,808) | (11,039) | (2,532) |
| Sales and maturities of investments | 11,345 | 9,574 | 4,683 |
| Other investing activities, net | (54) | (37) | 36 |
| Net cash used in investing activities | (2,866) | (3,203) | (774) |
| Financing Activities: | |||
| Change in current debt obligations, net | (311) | (17) | (713) |
| Proceeds from short-term borrowings (maturities greater than 90 days) | 2,789 | 0 | 0 |
| Repayments from short-term borrowings (maturities greater than 90 days) | (2,853) | 0 | 0 |
| Issuance of long-term debt | 7,172 | 5,568 | 7,794 |
| Payments on long-term debt | (7,367) | (6,110) | (7,948) |
| Dividends to shareholders | (3,120) | (2,894) | (2,693) |
| Issuance of ordinary shares | 474 | 662 | 992 |
| Repurchase of ordinary shares | (652) | (1,326) | (2,877) |
| Other financing activities | (268) | (81) | 14 |
| Net cash used in financing activities | (4,136) | (4,198) | (5,431) |
| Effect of exchange rate changes on cash and cash equivalents | 215 | (86) | (78) |
| Net change in cash and cash equivalents | (547) | (253) | 724 |
| Cash and cash equivalents at beginning of period | 4,140 | 4,393 | |
| Cash and cash equivalents at end of period | 3,593 | 4,140 | 4,393 |
| Supplemental Cash Flow Information | |||
| Cash paid for: | |||
| Income taxes | 1,250 | 878 | 1,558 |
| Interest | 582 | 643 | 973 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
MEDTRONIC PLC | ||
Ticker: MDT Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Apr 30, 2021 10-K (Filed: June 25, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Apr 30, 2021 | Apr 24, 2020 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 3,593 | 4,140 |
| Investments | 7,224 | 6,808 |
| Accounts receivable, less allowances and credit losses of $241 and $208, respectively | 5,462 | 4,645 |
| Inventories, net | 4,313 | 4,229 |
| Other current assets | 1,955 | 2,209 |
| Total current assets | 22,548 | 22,031 |
| Property, plant, and equipment, net | 5,221 | 4,828 |
| Goodwill | 41,961 | 39,841 |
| Other intangible assets, net | 17,740 | 19,063 |
| Tax assets | 3,169 | 2,832 |
| Other assets | 2,443 | 2,094 |
| Total assets | 93,083 | 90,689 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Current debt obligations | 11 | 2,776 |
| Accounts payable | 2,106 | 1,996 |
| Accrued compensation | 2,482 | 2,099 |
| Accrued income taxes | 435 | 502 |
| Other accrued expenses | 3,475 | 2,993 |
| Total current liabilities | 8,509 | 10,366 |
| Long-term debt | 26,378 | 22,021 |
| Accrued compensation and retirement benefits | 1,557 | 1,910 |
| Accrued income taxes | 2,251 | 2,682 |
| Deferred tax liabilities | 1,028 | 1,174 |
| Other liabilities | 1,756 | 1,664 |
| Total liabilities | 41,481 | 39,817 |
| Commitments and contingencies (Notes 3, 16, and 18) | ||
| Shareholders equity: | ||
| Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,345,400,671 and 1,341,074,724 shares issued and outstanding, respectively | 0 | 0 |
| Additional paid-in capital | 26,319 | 26,165 |
| Retained earnings | 28,594 | 28,132 |
| Accumulated other comprehensive loss | (3,485) | (3,560) |
| Total shareholders equity | 51,428 | 50,737 |
| Noncontrolling interests | 174 | 135 |
| Total equity | 51,602 | 50,872 |
| Total liabilities and equity | 93,083 | 90,689 |
| External Links | |
| MEDTRONIC PLC (MDT) Fiscal Year 2021 | |
| 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 |