Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Medtronic PLC, consolidated balance sheet: assets (quarterly data)

US$ in millions

	Jan 23, 2026	Oct 24, 2025	Jul 25, 2025	Apr 25, 2025	Jan 24, 2025	Oct 25, 2024	Jul 26, 2024	Apr 26, 2024	Jan 26, 2024	Oct 27, 2023	Jul 28, 2023	Apr 28, 2023	Jan 27, 2023	Oct 28, 2022	Jul 29, 2022	Apr 29, 2022	Jan 28, 2022	Oct 29, 2021	Jul 30, 2021	Apr 30, 2021	Jan 29, 2021	Oct 30, 2020	Jul 31, 2020	Apr 24, 2020	Jan 24, 2020	Oct 25, 2019	Jul 26, 2019
Cash and cash equivalents	1,147)	1,282)	1,273)	2,218)	1,240)	1,394)	1,311)	1,284)	1,623)	1,311)	1,339)	1,543)	4,521)	4,828)	2,140)	3,714)	3,479)	2,900)	3,004)	3,593)	5,077)	6,420)	6,499)	4,140)	3,709)	3,962)	5,080)
Investments	7,236)	7,045)	6,848)	6,747)	6,682)	6,595)	6,532)	6,721)	6,698)	6,423)	6,537)	6,416)	6,616)	6,602)	6,733)	6,859)	7,742)	7,769)	7,591)	7,224)	9,562)	7,857)	6,513)	6,808)	7,919)	6,436)	5,603)
Accounts receivable, less allowances and credit losses	6,359)	6,389)	6,263)	6,515)	6,115)	6,260)	6,011)	6,128)	5,968)	5,934)	5,806)	5,998)	5,887)	5,626)	5,308)	5,551)	5,446)	5,493)	5,431)	5,462)	5,215)	5,348)	4,876)	4,645)	6,248)	6,118)	5,894)
Inventories	6,309)	6,156)	5,886)	5,476)	5,610)	5,479)	5,414)	5,217)	5,726)	5,754)	5,668)	5,293)	5,375)	5,055)	4,809)	4,616)	4,514)	4,349)	4,288)	4,313)	4,508)	4,484)	4,551)	4,229)	4,122)	4,042)	3,932)
Other current assets	3,020)	3,124)	2,953)	2,858)	2,866)	2,710)	2,679)	2,585)	2,498)	2,659)	2,519)	2,425)	2,965)	3,287)	3,145)	2,319)	2,122)	2,220)	2,120)	1,956)	1,985)	1,927)	2,070)	2,209)	2,045)	2,095)	2,196)
Current assets	24,071)	23,996)	23,223)	23,814)	22,513)	22,438)	21,947)	21,935)	22,513)	22,081)	21,869)	21,675)	25,364)	25,398)	22,135)	23,059)	23,303)	22,731)	22,434)	22,548)	26,347)	26,036)	24,509)	22,031)	24,043)	22,653)	22,705)
Property, plant, and equipment, net	7,179)	7,164)	7,006)	6,837)	6,593)	6,438)	6,282)	6,131)	5,838)	5,735)	5,665)	5,569)	5,437)	5,298)	5,281)	5,413)	5,251)	5,188)	5,162)	5,221)	5,023)	4,938)	4,882)	4,828)	4,764)	4,756)	4,711)
Goodwill	41,892)	41,811)	42,007)	41,737)	40,819)	41,161)	41,084)	40,986)	41,160)	40,821)	41,436)	41,425)	41,565)	40,417)	40,324)	40,502)	41,346)	41,612)	41,720)	41,961)	42,141)	41,212)	40,714)	39,841)	40,091)	39,952)	40,082)
Other intangible assets, net	10,335)	10,770)	11,223)	11,667)	12,184)	12,423)	12,819)	13,225)	13,690)	14,060)	14,434)	14,844)	15,265)	15,655)	15,775)	15,595)	16,078)	16,523)	16,890)	17,740)	18,240)	18,412)	18,670)	19,063)	19,456)	19,775)	20,234)
Tax assets	3,967)	3,857)	3,929)	4,040)	3,614)	3,572)	3,554)	3,657)	3,599)	3,428)	3,461)	3,477)	3,361)	3,350)	3,311)	3,403)	3,309)	3,203)	3,187)	3,169)	3,310)	3,176)	2,988)	2,832)	2,272)	1,804)	1,545)
Other assets	4,041)	3,748)	3,584)	3,585)	4,250)	4,010)	4,063)	4,047)	4,036)	3,962)	3,911)	3,958)	3,142)	3,123)	3,088)	3,009)	2,517)	2,499)	2,409)	2,444)	2,209)	2,112)	2,143)	2,094)	2,196)	2,113)	1,991)
Noncurrent assets	67,414)	67,350)	67,749)	67,866)	67,460)	67,604)	67,802)	68,046)	68,323)	68,006)	68,907)	69,273)	68,770)	67,843)	67,779)	67,922)	68,501)	69,025)	69,368)	70,535)	70,923)	69,850)	69,397)	68,658)	68,779)	68,400)	68,563)
Total assets	91,485)	91,346)	90,972)	91,680)	89,973)	90,042)	89,749)	89,981)	90,836)	90,087)	90,776)	90,948)	94,134)	93,241)	89,914)	90,981)	91,804)	91,756)	91,802)	93,083)	97,270)	95,886)	93,906)	90,689)	92,822)	91,053)	91,268)

An examination of the asset composition reveals several noteworthy trends over the observed period. Overall, total assets demonstrate relative stability, fluctuating between approximately 90.087 and 97.270 US$ in millions. However, shifts within the asset categories contribute to a more nuanced understanding of the company’s financial position.

Cash and Cash Equivalents: Cash and cash equivalents exhibited considerable volatility. Beginning at 5,080 US$ in millions in July 2019, the balance decreased to a low of 1,240 US$ in millions in July 2022 before experiencing fluctuations, ending at 1,240 US$ in millions in January 2025. This suggests potential active cash management strategies, including investments or strategic deployments of funds.
Investments: Investments remained relatively stable throughout the period, generally ranging between 6,416 and 9,562 US$ in millions. A slight upward trend is observable towards the end of the period, increasing from 6,416 US$ in millions in April 2023 to 7,236 US$ in millions in January 2026. This indicates a consistent allocation to investment activities.
Accounts Receivable: Accounts receivable demonstrated a generally upward trend, increasing from 5,894 US$ in millions in July 2019 to 6,359 US$ in millions in January 2026. While fluctuations occurred, the overall increase suggests potential growth in sales or changes in credit terms. The values remained relatively consistent between 5,806 and 6,128 US$ in millions from July 2020 to April 2024.
Inventories: Inventories consistently increased over the observed period, rising from 3,932 US$ in millions in July 2019 to 6,309 US$ in millions in January 2026. This sustained growth could indicate increasing production levels, potential supply chain adjustments, or a deliberate build-up of stock. The most significant increases occurred between October 2022 and January 2026.
Other Current Assets: Other current assets showed an increasing trend, particularly from April 2022 onwards. Starting at 2,319 US$ in millions, it rose to 4,047 US$ in millions by January 2026. This suggests a growing amount of short-term assets not categorized elsewhere.
Current Assets: Total current assets experienced fluctuations, peaking at 26,036 US$ in millions in October 2020 and reaching a low of 21,935 US$ in millions in January 2025. The overall trend is relatively stable, with a slight increase towards the end of the period. The composition shifts within current assets, as detailed above, drive these fluctuations.
Noncurrent Assets: Noncurrent assets, dominated by goodwill and intangible assets, remained relatively stable throughout the period, fluctuating between approximately 67,414 and 70,923 US$ in millions. Goodwill experienced a slight decrease from 40,082 US$ in millions in July 2019 to 41,892 US$ in millions in January 2026. Other intangible assets showed a consistent decline over the period. Property, plant, and equipment, net, demonstrated a steady increase.

In summary, the asset base demonstrates a mix of stability and change. While total assets remain relatively consistent, the composition shifts, with notable increases in inventories and other current assets, and fluctuations in cash and cash equivalents. The consistent level of investments and noncurrent assets suggests a long-term strategic approach to asset allocation.

Medtronic PLC (NYSE:MDT)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Medtronic PLC (NYSE:MDT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data