Adjustments to Financial Statements
Advanced level
Adjustments to Current Assets
Medtronic PLC, adjusted current assets
US$ in millions
|
|
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).
Adjustments to Total Assets
Medtronic PLC, adjusted total assets
US$ in millions
|
|
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).
Adjustments to Current Liabilities
Medtronic PLC, adjusted current liabilities
US$ in millions
|
|
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).
Adjustments to Total Liabilities
Medtronic PLC, adjusted total liabilities
US$ in millions
|
|
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).
Adjustments to Stockholders’ Equity
Medtronic PLC, adjusted shareholders’ equity
US$ in millions
|
|
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).
Adjustments to Capitalization Table
Medtronic PLC, adjusted capitalization table
US$ in millions
|
|
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 |
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|
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 |
|
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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).
Adjustments to Revenues
Medtronic PLC, adjusted net sales
US$ in millions
|
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
|
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) |
|
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Add: Increase (decrease) in allowance for doubtful accounts |
(3) | 38 | (6) | 17 | 29 | 17 |
|
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Add: Increase (decrease) in deferred revenue |
26 | — | — | — | — | — |
|
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Add: Increase (decrease) in restructuring reserve |
19 | (124) | 34 | 27 | 131 | (75) |
|
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Add: Other comprehensive income (loss), net of tax |
(975) | 1,030 | (744) | (684) | (587) | (105) |
|
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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).