Stock Analysis on Net
Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
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.

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.

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Medtronic PLC, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
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
Current debt obligations
Accounts payable
Accrued compensation
Accrued income taxes
Other accrued expenses
Current liabilities
Long-term debt
Accrued compensation and retirement benefits
Accrued income taxes
Deferred tax liabilities
Other liabilities
Noncurrent liabilities
Total liabilities
Ordinary shares, par value $0.0001
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2025-04-25), 10-Q (reporting date: 2025-01-24), 10-Q (reporting date: 2024-10-25), 10-Q (reporting date: 2024-07-26), 10-K (reporting date: 2024-04-26), 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26).

The quarterly financial data reveals several notable trends and fluctuations in the company's financial position over the observed periods.

Current Debt Obligations
Current debt obligations demonstrated significant volatility, ranging from a low of 6 million USD in April 2021 to a peak of 5,918 million USD in January 2023. Sharp spikes occurred in mid-2020 and again in early 2022, suggesting periods of increased short-term borrowing or liquidity needs, with subsequent reductions followed by renewed increases later in the timeline.
Accounts Payable
Accounts payable remained relatively stable, fluctuating modestly between approximately 1,720 and 2,662 million USD, indicating consistent supplier credit utilization across quarters. Slight increases in the later periods imply stable operational spending without drastic changes.
Accrued Compensation
Accrued compensation showed an overall upward trend until early 2021, reaching near 2,495 million USD, followed by a decline and some recovery afterwards. This pattern may reflect compensation adjustments or timing differences related to payroll and incentive accruals.
Accrued Income Taxes (Current and Noncurrent)
Accrued income taxes fluctuated, with current accrued taxes increasing notably from approximately 341 million USD in July 2021 to 1,358 million USD by April 2025, indicating growing tax obligations. Noncurrent accrued income taxes generally declined from around 2,873 million USD in 2019 to the 1,432–1,574 million USD range near 2024–2025, suggesting changes in deferred tax positions or tax planning.
Other Accrued Expenses
Other accrued expenses showed variability but remained within a range of roughly 2,993 to 4,031 million USD with some peak values around 2022. The fluctuations indicate changing operational liabilities, potentially impacted by seasonality or business activities.
Current and Noncurrent Liabilities
Current liabilities displayed wide variation, peaking at 14,465 million USD in October 2022 before dropping to roughly 9,047 million USD in mid-2023, reflecting swings primarily driven by current debt obligations and accrued expenses. Noncurrent liabilities showed a downward trend from a high around 33,499 million USD in late 2020 to lower levels in the mid-20,000 million USD range by 2022–2023, indicating debt repayments or reclassifications.
Long-Term Debt
Long-term debt experienced significant fluctuations, peaking near 26,507 million USD in early 2021, decreasing to around 17,481 million USD by mid-2022, and again increasing towards the end of the period to over 25,000 million USD. These movements suggest active debt management including repayments and new borrowings.
Accrued Compensation and Retirement Benefits
This liability steadily decreased from 1,640 million USD in 2019 to about 1,020 million USD by late 2023, stabilizing thereafter. The trend potentially reflects changes in employee benefit obligations or actuarial adjustments.
Deferred Tax Liabilities
Deferred tax liabilities declined gradually from about 1,346 million USD in mid-2019 to 403 million USD by early 2025, indicating reduced deferred tax exposures, possibly through tax strategy, amortization, or asset base changes.
Other Liabilities
Other liabilities remained relatively consistent, fluctuating in a narrow band between approximately 1,365 and 1,769 million USD without clear directional trends, implying stable minor obligations.
Total Liabilities
Total liabilities moved unevenly, with peaks around 46,342 million USD in early 2021 and 43,424 million USD in early 2025, interspersed with troughs near 39,091 million USD in early 2022. This volatility reflects the combined effects of debt fluctuations, accrued expenses, and other obligations.
Equity Components
Shareholders’ equity showed relative stability around the 50,000 million USD region but exhibited slight declines towards the latter periods, from highs above 52,000 million USD in early 2022 to about 48,024 million USD by early 2025. Accumulated other comprehensive loss increased in magnitude, reaching approximately -4,284 million USD by 2025, which could reflect foreign currency translation losses or other comprehensive items.
Total Equity and Total Liabilities & Equity
Total equity trends mirror the shareholder equity adjustments, with minor growth and some decline towards the end. Overall, total liabilities and equity remained fairly stable around 90,000 to 93,000 million USD, indicating a consistent balance sheet size despite internal shifts between liabilities and equity over time.

In summary, the data reflects ongoing borrowing and repayment activity impacting both current and long-term debt components, steady operational liabilities, and fluctuations in accrued compensation and tax positions. The equity base remains broadly consistent, though comprehensive losses have increased, slightly tempering net equity levels. The financial profile suggests active balance sheet management within a stable overall asset base.