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Microsoft Excel LibreOffice Calc

Medtronic PLC (MDT)


Financial Reporting Quality: Aggregate Accruals

Difficulty: Advanced

Earnings can be decomposed into cash and accrual components. The accrual component (aggregate accruals) has been found to have less persistence than the cash component, and therefore (1) earnings with higher accrual component are less persistent than earnings with smaller accrual component, all else equal; and (2) the cash component of earnings should receive a higher weighting evaluating company performance.


Balance-Sheet-Based Accruals Ratio

Medtronic PLC, balance sheet computation of aggregate accruals

US$ in millions

Microsoft Excel LibreOffice Calc
Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015 Apr 25, 2014
Operating Assets
Total assets hidden hidden hidden hidden hidden hidden
Less: Cash and cash equivalents hidden hidden hidden hidden hidden hidden
Less: Investments hidden hidden hidden hidden hidden hidden
Operating assets hidden hidden hidden hidden hidden hidden
Operating Liabilities
Total liabilities hidden hidden hidden hidden hidden hidden
Less: Current debt obligations hidden hidden hidden hidden hidden hidden
Less: Long-term debt hidden hidden hidden hidden hidden hidden
Operating liabilities hidden hidden hidden hidden hidden hidden
Net operating assets1 hidden hidden hidden hidden hidden hidden
Balance-sheet-based aggregate accruals2 hidden hidden hidden hidden hidden hidden
Ratio
Balance-sheet-based accruals ratio3 hidden hidden hidden hidden hidden hidden
Benchmarks
Balance-Sheet-Based Accruals Ratio, Competitors4
Becton, Dickinson & Co. hidden hidden hidden hidden hidden hidden
Intuitive Surgical Inc. hidden hidden hidden hidden hidden hidden
Stryker Corp. hidden hidden hidden hidden hidden hidden
Thermo Fisher Scientific Inc. hidden hidden hidden hidden hidden hidden
UnitedHealth Group Inc. hidden hidden hidden hidden hidden hidden
Balance-Sheet-Based Accruals Ratio, Sector
Health Care Equipment & Services hidden hidden hidden hidden hidden hidden
Balance-Sheet-Based Accruals Ratio, Industry
Health Care hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).

1 2019 Calculation
Net operating assets = Operating assets – Operating liabilities
= hiddenhidden = hidden

2 2019 Calculation
Balance-sheet-based aggregate accruals = Net operating assets 2019 – Net operating assets 2018
= hiddenhidden = hidden

3 2019 Calculation
Balance-sheet-based accruals ratio = 100 × Balance-sheet-based aggregate accruals ÷ Avg. net operating assets
= 100 × hidden ÷ [(hidden + hidden) ÷ 2] = hidden

4 Click competitor name to see calculations.

Ratio Description The company
Balance-sheet-based accruals ratio Ratio is found by dividing balance-sheet-based aggregate accruals by average net operating assets. Using the balance-sheet-based accruals ratio, Medtronic PLC improved earnings quality from 2018 to 2019.

Cash-Flow-Statement-Based Accruals Ratio

Medtronic PLC, cash flow statement computation of aggregate accruals

US$ in millions

Microsoft Excel LibreOffice Calc
Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015 Apr 25, 2014
Net income attributable to Medtronic hidden hidden hidden hidden hidden hidden
Less: Net cash provided by operating activities hidden hidden hidden hidden hidden hidden
Less: Net cash (used in) provided by investing activities hidden hidden hidden hidden hidden hidden
Cash-flow-statement-based aggregate accruals hidden hidden hidden hidden hidden hidden
Ratio
Cash-flow-statement-based accruals ratio1 hidden hidden hidden hidden hidden hidden
Benchmarks
Cash-Flow-Statement-Based Accruals Ratio, Competitors2
Becton, Dickinson & Co. hidden hidden hidden hidden hidden hidden
Intuitive Surgical Inc. hidden hidden hidden hidden hidden hidden
Stryker Corp. hidden hidden hidden hidden hidden hidden
Thermo Fisher Scientific Inc. hidden hidden hidden hidden hidden hidden
UnitedHealth Group Inc. hidden hidden hidden hidden hidden hidden
Cash-Flow-Statement-Based Accruals Ratio, Sector
Health Care Equipment & Services hidden hidden hidden hidden hidden hidden
Cash-Flow-Statement-Based Accruals Ratio, Industry
Health Care hidden hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-06-21), 10-K (filing date: 2018-06-22), 10-K (filing date: 2017-06-27), 10-K (filing date: 2016-06-28), 10-K (filing date: 2015-06-23), 10-K (filing date: 2014-06-20).

1 2019 Calculation
Cash-flow-statement-based accruals ratio = 100 × Cash-flow-statement-based aggregate accruals ÷ Avg. net operating assets
= 100 × hidden ÷ [(hidden + hidden) ÷ 2] = hidden

2 Click competitor name to see calculations.

Ratio Description The company
Cash-flow-statement-based accruals ratio Ratio is found by dividing cash-flow-statement-based aggregate accruals by average net operating assets. Using the cash-flow-statement-based accruals ratio, Medtronic PLC improved earnings quality from 2018 to 2019.