Microsoft Excel LibreOffice Calc

Medtronic PLC (NYSE:MDT)


Adjustments to Financial Statements

Advanced level


Adjustments to Current Assets

Medtronic PLC, adjusted current assets

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
As Reported
Current assets 21,967  22,980  24,873  23,600  30,844  21,210 
Adjustments
Add: Allowance for doubtful accounts 190  193  155  161  144  115 
Less: Tax assets (included in Other current assets)1 648  662  545  697  1,335  736 
After Adjustment
Adjusted current assets 21,509  22,511  24,483  23,064  29,653  20,589 

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 Tax assets (included in Other current assets). See details »


Adjustments to Total Assets

Medtronic PLC, adjusted total assets

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
As Reported
Total assets 89,694  91,393  99,816  99,782  106,685  37,943 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 553  671  574  483  566  268 
Add: Allowance for doubtful accounts 190  193  155  161  144  115 
Less: Tax assets (included in Other current assets)2 648  662  545  697  1,335  736 
Less: Tax assets3 1,519  1,465  1,509  1,383  774  300 
After Adjustment
Adjusted total assets 88,270  90,130  98,491  98,346  105,286  37,290 

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 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Tax assets (included in Other current assets). See details »

3 Tax assets. See details »


Adjustments to Current Liabilities

Medtronic PLC, adjusted current liabilities

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
As Reported
Current liabilities 8,472  10,084  14,220  7,165  9,173  5,559 
Adjustments
Less: Current deferred tax liabilities1 —  —  —  —  119  19 
Less: Current deferred revenue 211  196  —  —  —  — 
After Adjustment
Adjusted current liabilities 8,261  9,888  14,220  7,165  9,054  5,540 

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 Current deferred tax liabilities. See details »


Adjustments to Total Liabilities

Medtronic PLC, adjusted total liabilities

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
As Reported
Total liabilities 39,482  40,571  49,400  47,719  53,455  18,500 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 553  671  574  483  566  268 
Less: Current deferred tax liabilities2 —  —  —  —  119  19 
Less: Noncurrent deferred tax liabilities3 1,278  1,423  2,978  3,729  4,700  386 
Less: Deferred revenue 315  289  —  —  —  — 
Less: Restructuring reserve 186  167  291  257  230  99 
After Adjustment
Adjusted total liabilities 38,256  39,363  46,705  44,216  48,972  18,264 

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 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current deferred tax liabilities. See details »

3 Noncurrent deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Medtronic PLC, adjusted shareholders’ equity

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
As Reported
Shareholders’ equity 50,091  50,720  50,294  52,063  53,230  19,443 
Adjustments
Less: Tax assets (liabilities), net1 889  704  (1,631) (1,649) (2,710) 631 
Add: Allowance for doubtful accounts 190  193  155  161  144  115 
Add: Deferred revenue 315  289  —  —  —  — 
Add: Restructuring reserve 186  167  291  257  230  99 
Add: Noncontrolling interests 121  102  122  —  —  — 
After Adjustment
Adjusted total equity 50,014  50,767  52,493  54,130  56,314  19,026 

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 Tax assets (liabilities), net. See details »


Adjustments to Capitalization Table

Medtronic PLC, adjusted capitalization table

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
As Reported
Current debt obligations 838  2,058  7,520  993  2,434  1,613 
Long-term debt 24,486  23,699  25,921  30,247  33,752  10,315 
Total reported debt 25,324  25,757  33,441  31,240  36,186  11,928 
Shareholders’ equity 50,091  50,720  50,294  52,063  53,230  19,443 
Total reported capital 75,415  76,477  83,735  83,303  89,416  31,371 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 553  671  574  483  566  268 
Adjusted total debt 25,877  26,428  34,015  31,723  36,752  12,196 
Adjustments to Equity
Less: Tax assets (liabilities), net2 889  704  (1,631) (1,649) (2,710) 631 
Add: Allowance for doubtful accounts 190  193  155  161  144  115 
Add: Deferred revenue 315  289  —  —  —  — 
Add: Restructuring reserve 186  167  291  257  230  99 
Add: Noncontrolling interests 121  102  122  —  —  — 
Adjusted total equity 50,014  50,767  52,493  54,130  56,314  19,026 
After Adjustment
Adjusted total capital 75,891  77,195  86,508  85,853  93,066  31,222 

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 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Tax assets (liabilities), net. See details »


Adjustments to Revenues

Medtronic PLC, adjusted net sales

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015 Apr 25, 2014
As Reported
Net sales 30,557  29,953  29,710  28,833  20,261  17,005 
Adjustment
Add: Increase (decrease) in deferred revenue 26  —  —  —  —  — 
After Adjustment
Adjusted net sales 30,583  29,953  29,710  28,833  20,261  17,005 

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).


Adjustments to Reported Income

Medtronic PLC, adjusted net income attributable to Medtronic

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015 Apr 25, 2014
As Reported
Net income attributable to Medtronic 4,631  3,104  4,028  3,538  2,675  3,065 
Adjustments
Add: Deferred income tax expense (benefit)1 (438) (1,115) (876) (477) (819) (140)
Add: Increase (decrease) in allowance for doubtful accounts (3) 38  (6) 17  29  17 
Add: Increase (decrease) in deferred revenue 26  —  —  —  —  — 
Add: Increase (decrease) in restructuring reserve 19  (124) 34  27  131  (75)
Add: Other comprehensive income (loss), net of tax (975) 1,030  (744) (684) (587) (105)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 16  (9) (3) —  —  — 
After Adjustment
Adjusted net income 3,276  2,924  2,433  2,421  1,429  2,762 

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 Deferred income tax expense (benefit). See details »