Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age
Estimated Total Useful Life
Estimated Age, Time Elapsed Since Purchase
Estimated Remaining Life

Medtronic PLC, balance sheet: property, plant and equipment

US$ in millions

	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020	Apr 26, 2019	Apr 27, 2018
Equipment	6,707)	6,489)	6,308)	5,859)	5,519)	5,171)
Computer software	2,952)	2,617)	2,346)	2,131)	1,842)	1,578)
Land and land improvements	162)	171)	178)	175)	181)	187)
Buildings and leasehold improvements	2,487)	2,351)	2,370)	2,277)	2,267)	2,265)
Construction in progress	1,754)	1,737)	1,498)	1,202)	1,111)	1,058)
Property, plant, and equipment, at cost	14,062)	13,365)	12,700)	11,644)	10,920)	10,259)
Accumulated depreciation	(8,493)	(7,952)	(7,479)	(6,816)	(6,245)	(5,655)
Property, plant, and equipment, net	5,569)	5,413)	5,221)	4,828)	4,675)	4,604)

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).

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Item	Description	The company
Property, plant, and equipment, at cost	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Medtronic PLC property, plant, and equipment, at cost increased from 2021 to 2022 and from 2022 to 2023.
Property, plant, and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Medtronic PLC property, plant, and equipment, net increased from 2021 to 2022 and from 2022 to 2023.

Medtronic PLC, asset age ratios

	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020	Apr 26, 2019	Apr 27, 2018
Average age ratio	61.10%	60.27%	59.73%	59.43%	58.15%	56.15%
Estimated total useful life (years)	14	14	14	13	12	12
Estimated age, time elapsed since purchase (years)	9	8	8	8	7	7
Estimated remaining life (years)	5	5	5	5	5	5

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).

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Medtronic PLC average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Medtronic PLC estimated total useful life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Medtronic PLC estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		Medtronic PLC estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020	Apr 26, 2019	Apr 27, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation	8,493)	7,952)	7,479)	6,816)	6,245)	5,655)
Property, plant, and equipment, at cost	14,062)	13,365)	12,700)	11,644)	10,920)	10,259)
Land and land improvements	162)	171)	178)	175)	181)	187)
Asset Age Ratio
Average age¹	61.10%	60.27%	59.73%	59.43%	58.15%	56.15%

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 Average age = 100 × Accumulated depreciation ÷ (Property, plant, and equipment, at cost – Land and land improvements)
= 100 × 8,493 ÷ (14,062 – 162) = 61.10%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Medtronic PLC average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020	Apr 26, 2019	Apr 27, 2018
Selected Financial Data (US$ in millions)
Property, plant, and equipment, at cost	14,062)	13,365)	12,700)	11,644)	10,920)	10,259)
Land and land improvements	162)	171)	178)	175)	181)	187)
Depreciation expense	999)	974)	919)	907)	895)	821)
Asset Age Ratio (Years)
Estimated total useful life¹	14	14	14	13	12	12

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 Estimated total useful life = (Property, plant, and equipment, at cost – Land and land improvements) ÷ Depreciation expense
= (14,062 – 162) ÷ 999 = 14

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Medtronic PLC estimated total useful life of depreciable property, plant and equipment decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020	Apr 26, 2019	Apr 27, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation	8,493)	7,952)	7,479)	6,816)	6,245)	5,655)
Depreciation expense	999)	974)	919)	907)	895)	821)
Asset Age Ratio (Years)
Time elapsed since purchase¹	9	8	8	8	7	7

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 Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense
= 8,493 ÷ 999 = 9

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Medtronic PLC estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Apr 28, 2023	Apr 29, 2022	Apr 30, 2021	Apr 24, 2020	Apr 26, 2019	Apr 27, 2018
Selected Financial Data (US$ in millions)
Property, plant, and equipment, net	5,569)	5,413)	5,221)	4,828)	4,675)	4,604)
Land and land improvements	162)	171)	178)	175)	181)	187)
Depreciation expense	999)	974)	919)	907)	895)	821)
Asset Age Ratio (Years)
Estimated remaining life¹	5	5	5	5	5	5

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 Estimated remaining life = (Property, plant, and equipment, net – Land and land improvements) ÷ Depreciation expense
= (5,569 – 162) ÷ 999 = 5

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Asset age ratio	Description	The company
Estimated remaining life		Medtronic PLC estimated remaining life of depreciable property, plant and equipment decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.

Medtronic PLC (NYSE:MDT)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life