Goodwill and Intangible Asset Disclosure
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
Item | Description | The company |
---|---|---|
Goodwill | Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. | Medtronic PLC goodwill decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
Intangible assets, net | Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Medtronic PLC intangible assets, net decreased from 2021 to 2022 and from 2022 to 2023. |
Goodwill and other intangible assets, net | Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. | Medtronic PLC goodwill and other intangible assets, net decreased from 2021 to 2022 but then slightly increased from 2022 to 2023. |
Adjustments to Financial Statements: Removal of Goodwill
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
Medtronic PLC, Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
Financial ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Medtronic PLC adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Medtronic PLC adjusted financial leverage ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Medtronic PLC adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Medtronic PLC adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Medtronic PLC, Financial Ratios: Reported vs. Adjusted
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
2023 Calculations
1 Total asset turnover = Net sales ÷ Total assets
= 31,227 ÷ 90,948 = 0.34
2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 31,227 ÷ 49,523 = 0.63
Activity ratio | Description | The company |
---|---|---|
Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Medtronic PLC adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
2023 Calculations
1 Financial leverage = Total assets ÷ Shareholders’ equity
= 90,948 ÷ 51,483 = 1.77
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted shareholders’ equity
= 49,523 ÷ 10,058 = 4.92
Solvency ratio | Description | The company |
---|---|---|
Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Medtronic PLC adjusted financial leverage ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
2023 Calculations
1 ROE = 100 × Net income attributable to Medtronic ÷ Shareholders’ equity
= 100 × 3,758 ÷ 51,483 = 7.30%
2 Adjusted ROE = 100 × Net income attributable to Medtronic ÷ Adjusted shareholders’ equity
= 100 × 3,758 ÷ 10,058 = 37.36%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROE | A profitability ratio calculated as net income divided by adjusted shareholders’ equity. | Medtronic PLC adjusted ROE improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26), 10-K (reporting date: 2018-04-27).
2023 Calculations
1 ROA = 100 × Net income attributable to Medtronic ÷ Total assets
= 100 × 3,758 ÷ 90,948 = 4.13%
2 Adjusted ROA = 100 × Net income attributable to Medtronic ÷ Adjusted total assets
= 100 × 3,758 ÷ 49,523 = 7.59%
Profitability ratio | Description | The company |
---|---|---|
Adjusted ROA | A profitability ratio calculated as net income divided by adjusted total assets. | Medtronic PLC adjusted ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |