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

	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	1,282)	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	7,045)	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	6,389)	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	6,156)	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	3,124)	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	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	7,164)	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	41,811)	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	10,770)	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	3,857)	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	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	67,350)	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	91,346)	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)

Cash and cash equivalents: The cash and cash equivalents exhibit significant volatility over the periods analyzed. There is a notable peak in July 2020 reaching 6,499 million USD, followed by a general declining trend with intermittent recoveries. A sharp decline is observed from July 2022 through April 2023, dropping to levels near 1,300-1,500 million USD, and remaining relatively low through October 2025.
Investments: Investments demonstrate a generally increasing trend with fluctuations. Starting at around 5,603 million USD in July 2019, investments increase to a high of 9,562 million USD in January 2021, then slightly decrease and stabilize around 6,500-7,000 million USD in the later periods, showing moderate growth toward the end of the analyzed timeframe.
Accounts receivable, less allowances and credit losses: Accounts receivable remain relatively stable with minor fluctuations. Values fluctuate between approximately 4,645 million USD (April 2020) and 6,389 million USD (October 2025). There is a slight upward trend from early 2022 onward, indicating some growth in receivables over time.
Inventories: Inventories show a steady increasing trend across the periods, rising from 3,932 million USD in July 2019 to 6,156 million USD by October 2025. This indicates ongoing accumulation or increase in stock levels, with some minor periods of stabilization or slight declines.
Other current assets: Other current assets fluctuate moderately but generally exhibit an upward trend, increasing from around 2,196 million USD in July 2019 to about 3,124 million USD in October 2025. There are some noticeable increases around mid-2022 followed by intermittent declines and recoveries.
Current assets: Current assets maintain a relatively stable trend with mild fluctuations. Values range mostly between 21,000 million USD and 26,000 million USD through the periods. Some decline is observed around April 2023 with recovery afterward, but the overall level remains consistent within the band.
Property, plant, and equipment, net: This asset category shows a consistent upward trend over the analyzed period, moving from 4,711 million USD in July 2019 to 7,164 million USD by October 2025. This suggests ongoing investment in fixed assets or capital expenditures.
Goodwill: Goodwill remains relatively stable throughout with values fluctuating narrowly between approximately 39,841 million USD and 42,161 million USD. The data indicates no significant impairments or write-downs during the periods, with slight increases around early 2021 and again near late 2024.
Other intangible assets, net: Other intangible assets show a consistent downward trend from 20,234 million USD in mid-2019 to 10,770 million USD by late 2025. This decline likely reflects amortization or impairment of intangible assets over time.
Tax assets: Tax assets exhibit a gradual increase from approximately 1,545 million USD in July 2019 to a peak of around 4,040 million USD in October 2024, followed by a slight decrease. This suggests growing deferred tax assets or other tax-related assets over the period.
Other assets: Other noncurrent assets generally increase with fluctuations, rising from around 1,991 million USD to a peak of about 4,250 million USD in late 2023. Subsequently, the asset value decreases but remains above earlier levels, indicating some variability but an overall increase in miscellaneous noncurrent assets.
Noncurrent assets: Noncurrent assets remain largely stable throughout the period, fluctuating around 67,000 to 69,000 million USD. There is a slight declining trend after 2021, but the values stabilize near this band, reflecting consistent long-term asset base.
Total assets: Total assets exhibit minor fluctuations over time, generally maintaining a level close to the 90,000 million USD range. The highest points are seen around January 2021 and late 2022, while some lower values occur in early 2023. Overall, the total asset base remains relatively constant, indicating steady asset management.

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Medtronic PLC (NYSE:MDT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data