Stock Analysis on Net
Stock Analysis on Net
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Medtronic PLC (NYSE:MDT)

Balance Sheet: Liabilities and Stockholders’ Equity

Beginner level

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

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Medtronic PLC, consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

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Apr 24, 2020 Apr 26, 2019 Apr 27, 2018 Apr 28, 2017 Apr 29, 2016 Apr 24, 2015
Current debt obligations 2,776  838  2,058  7,520  993  2,434 
Accounts payable 1,996  1,953  1,628  1,731  1,709  1,610 
Accrued compensation 2,099  2,189  1,988  1,860  1,712  1,611 
Accrued income taxes 502  567  979  633  566  935 
Deferred tax liabilities —  —  —  —  —  119 
Other accrued expenses 2,993  2,925  3,431  2,442  2,185  2,464 
Current liabilities held for sale —  —  —  34  —  — 
Current liabilities 10,366  8,472  10,084  14,220  7,165  9,173 
Long-term debt 22,021  24,486  23,699  25,921  30,247  33,752 
Accrued compensation and retirement benefits 1,910  1,651  1,425  1,641  1,759  1,535 
Accrued income taxes 2,682  2,838  3,051  2,405  2,903  2,476 
Deferred tax liabilities 1,174  1,278  1,423  2,978  3,729  4,700 
Other liabilities 1,664  757  889  1,515  1,916  1,819 
Noncurrent liabilities held for sale —  —  —  720  —  — 
Noncurrent liabilities 29,451  31,010  30,487  35,180  40,554  44,282 
Total liabilities 39,817  39,482  40,571  49,400  47,719  53,455 
Ordinary shares, par value $0.0001 —  —  —  —  —  — 
Additional paid-in capital 26,165  26,532  28,127  29,551  32,227  — 
Retained earnings 28,132  26,270  24,379  23,356  21,704  54,414 
Accumulated other comprehensive loss (3,560) (2,711) (1,786) (2,613) (1,868) (1,184)
Shareholders’ equity 50,737  50,091  50,720  50,294  52,063  53,230 
Noncontrolling interests 135  121  102  122  —  — 
Total equity 50,872  50,212  50,822  50,416  52,063  53,230 
Total liabilities and equity 90,689  89,694  91,393  99,816  99,782  106,685 

Based on: 10-K (filing date: 2020-06-19), 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).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Medtronic PLC’s current liabilities decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Medtronic PLC’s noncurrent liabilities increased from 2018 to 2019 but then decreased significantly from 2019 to 2020.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Medtronic PLC’s total liabilities decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.
Shareholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Medtronic PLC’s shareholders’ equity decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.