Medtronic PLC (MDT)


Common-Size Income Statement
Quarterly Data

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Medtronic PLC, common-size consolidated income statement (quarterly data)

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3 months ended Jul 26, 2019 Apr 26, 2019 Jan 25, 2019 Oct 26, 2018 Jul 27, 2018 Apr 27, 2018 Jan 26, 2018 Oct 27, 2017 Jul 28, 2017 Apr 28, 2017 Jan 27, 2017 Oct 28, 2016 Jul 29, 2016 Apr 29, 2016 Jan 29, 2016 Oct 30, 2015 Jul 31, 2015 Apr 24, 2015 Jan 23, 2015 Oct 24, 2014 Jul 25, 2014 Apr 25, 2014 Jan 24, 2014 Oct 25, 2013 Jul 26, 2013
Net sales 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Cost of products sold -31.58 -30.48 -30.02 -29.45 -29.85 -29.41 -29.73 -30.07 -31.79 -30.77 -31.14 -31.67 -31.55 -31.23 -30.88 -30.92 -33.76 -40.17 -26.12 -26.16 -25.86 -25.65 -25.22 -25.99 -25.03
Gross profit 68.42% 69.52% 69.98% 70.55% 70.15% 70.59% 70.27% 69.93% 68.21% 69.23% 68.86% 68.33% 68.45% 68.77% 69.12% 69.08% 66.24% 59.83% 73.88% 73.84% 74.14% 74.35% 74.78% 74.01% 74.97%
Research and development expense -7.83 -7.29 -7.43 -7.89 -7.92 -7.27 -7.57 -7.87 -7.42 -6.99 -7.28 -7.54 -7.76 -7.60 -7.87 -7.72 -7.67 -7.23 -8.64 -8.57 -8.54 -8.43 -8.65 -8.87 -8.82
Selling, general, and administrative expense -33.94 -32.16 -34.40 -34.82 -35.17 -31.34 -33.91 -34.58 -33.63 -31.32 -32.79 -32.89 -33.88 -31.19 -33.42 -33.20 -33.67 -32.91 -34.44 -34.52 -35.24 -33.71 -34.93 -34.29 -34.68
Amortization of intangible assets -5.87 -5.36 -5.78 -5.95 -6.04 -5.50 -6.26 -6.52 -6.14 -6.27 -6.82 -6.81 -6.80 -6.38 -6.98 -6.84 -6.61 -6.41 -2.06 -2.04 -2.04 -1.88 -2.14 -2.10 -2.11
Restructuring (charges) credits, net -0.63 -1.06 -0.34 -0.32 -0.84 -0.09 -0.09 -0.11 -0.11 -2.54 -0.29 -0.64 -1.31 -1.73 -0.27 -1.03 -0.92 -2.83 0.00 0.00 -0.70 -1.64 0.36 0.00 -0.44
Acquisition-related items 0.00 0.00 0.00 0.00 0.00 -0.33 -0.35 -0.10 -0.60 -0.91 -0.93 -0.38 -0.73 -1.32 -0.91 -0.69 -0.98 -5.04 -1.85 -1.40 -0.96 -0.28 -4.80 0.00 2.35
Certain litigation charges -0.63 0.00 -0.83 0.00 -1.39 0.00 -0.83 0.00 0.00 0.00 -2.99 0.00 -1.14 0.00 0.00 -0.37 0.00 -0.58 0.00 0.00 0.00 -16.34 0.00 -0.57 0.00
Divestiture-related items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.95 -0.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Gain on sale of businesses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Special gain (charge) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.13 0.00 0.00 -1.37 0.00 0.00 -0.93 0.00 0.00 0.00 0.00 3.20 -2.29 0.00 0.00 0.00 0.00 -0.98
Other operating income (expense), net 0.29 0.25 -0.76 -0.94 -2.04 -2.31 -1.90 -1.57 -0.89 -0.61 -0.63 -1.21 -0.54 0.26 -0.13 -0.81 -0.84 0.27 -0.56 -1.44 -1.19 -1.29 -1.08 -0.79 -1.08
Operating profit 19.82% 23.89% 20.43% 20.64% 16.74% 23.76% 19.35% 26.96% 18.80% 20.60% 15.75% 18.86% 16.29% 19.89% 19.54% 18.42% 15.55% 5.11% 29.53% 23.59% 25.46% 10.76% 23.54% 27.40% 29.22%
Other non-operating income (expense), net 1.35 0.79 0.94 0.70 2.52 1.31 -1.75 1.42 1.24 1.19 1.21 1.24 1.30 1.45 1.43 1.52 1.58 1.55 2.20 1.97 2.15 2.02 1.61 1.48 1.22
Interest expense -8.13 -8.81 -3.22 -3.22 -3.28 -3.89 -3.66 -3.87 -3.87 -3.66 -3.68 -3.59 -3.80 -6.36 -3.97 -4.59 -4.21 -4.09 -4.08 -2.15 -2.27 -2.23 -2.21 -2.27 -2.20
Income before income taxes 13.04% 15.86% 18.16% 18.11% 15.98% 21.18% 13.94% 24.51% 16.17% 18.13% 13.28% 16.50% 13.79% 14.99% 17.00% 15.34% 12.92% 2.56% 27.65% 23.41% 25.35% 10.54% 22.94% 26.61% 28.24%
Income tax (provision) benefit -1.33 -1.35 -1.31 -3.14 -1.39 -3.19 -32.83 4.04 -2.52 -3.42 -2.02 -1.38 -0.82 -0.41 -1.21 -7.98 -1.65 -2.57 -5.03 -4.44 -4.96 -0.72 -4.64 -5.10 -4.90
Net income (loss) 11.70% 14.51% 16.84% 14.97% 14.59% 17.99% -18.89% 28.55% 13.65% 14.70% 11.26% 15.13% 12.96% 14.58% 15.79% 7.37% 11.27% -0.01% 22.63% 18.96% 20.38% 9.81% 18.30% 21.51% 23.34%
Net (income) loss attributable to noncontrolling interests -0.17 -0.12 -0.03 -0.07 -0.03 -0.06 0.04 0.06 0.09 -0.01 0.01 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net income (loss) attributable to Medtronic 11.53% 14.39% 16.82% 14.90% 14.56% 17.93% -18.85% 28.61% 13.75% 14.69% 11.27% 15.18% 12.96% 14.58% 15.79% 7.37% 11.27% -0.01% 22.63% 18.96% 20.38% 9.81% 18.30% 21.51% 23.34%

Based on: 10-Q (filing date: 2019-08-30), 10-K (filing date: 2019-06-21), 10-Q (filing date: 2019-03-01), 10-Q (filing date: 2018-11-29), 10-Q (filing date: 2018-08-31), 10-K (filing date: 2018-06-22), 10-Q (filing date: 2018-03-02), 10-Q (filing date: 2017-12-04), 10-Q (filing date: 2017-09-01), 10-K (filing date: 2017-06-27), 10-Q (filing date: 2017-03-03), 10-Q (filing date: 2016-12-05), 10-Q (filing date: 2016-09-07), 10-K (filing date: 2016-06-28), 10-Q (filing date: 2016-03-09), 10-Q (filing date: 2015-12-09), 10-Q (filing date: 2015-09-09), 10-K (filing date: 2015-06-23), 10-Q (filing date: 2015-02-27), 10-Q (filing date: 2014-11-26), 10-Q (filing date: 2014-08-29), 10-K (filing date: 2014-06-20), 10-Q (filing date: 2014-03-03), 10-Q (filing date: 2013-12-03), 10-Q (filing date: 2013-09-04).

Item Description The company
Operating profit The net result for the period of deducting operating expenses from operating revenues. Medtronic PLC’s operating profit as a percentage of net sales increased from Q3 2019 to Q4 2019 but then declined significantly from Q4 2019 to Q1 2020.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Medtronic PLC’s income before income taxes as a percentage of net sales declined from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Net income (loss) attributable to Medtronic The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Medtronic PLC’s net income (loss) attributable to Medtronic as a percentage of net sales declined from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.