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 24, 2026 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
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: 2026-04-24), 10-Q (reporting date: 2026-01-23), 10-Q (reporting date: 2025-10-24), 10-Q (reporting date: 2025-07-25), 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).


The balance sheet exhibits a period of strategic restructuring in liabilities and a gradual evolution of shareholders' equity from July 2020 through April 2026. Total liabilities and equity remained relatively stable, fluctuating within a range of approximately 90 billion to 97 billion US dollars, suggesting a consistent scale of operations and capital base.

Current Liabilities and Short-Term Debt
Current liabilities demonstrate significant volatility, characterized by a notable contraction between April 2021 and January 2022, where levels dropped from 13.1 billion to as low as 7.8 billion US dollars. This movement was primarily driven by fluctuations in current debt obligations, which shifted from peaks above 5.8 billion US dollars to near-zero levels during 2021. A subsequent increase in current debt was observed in 2022, followed by continued variability through 2026, ending at 11.7 billion US dollars.
Noncurrent Liabilities and Long-Term Debt
Long-term debt represents the most substantial component of total liabilities. After an initial increase to 26.5 billion US dollars in January 2021, a deleveraging phase occurred, reaching a low of 17.5 billion US dollars by July 2022. However, a sustained upward trend followed, with long-term debt peaking at 27.9 billion US dollars in January 2026. Deferred tax liabilities showed a consistent long-term decline, falling from 1.2 billion US dollars in 2020 to approximately 362 million US dollars by April 2026.
Equity Composition and Retained Earnings
Total equity remained resilient, hovering around 48 billion to 52 billion US dollars. A positive trend is observed in retained earnings, which grew steadily from 27.8 billion US dollars in July 2020 to 32.6 billion US dollars in April 2026, indicating consistent profit accumulation. This growth was partially offset by a decline in additional paid-in capital, which decreased from 26.3 billion US dollars to 20.9 billion US dollars over the same period, a pattern often associated with share repurchase programs.
Comprehensive Loss and Noncontrolling Interests
Accumulated other comprehensive loss remained negative throughout the period, with volatility between 1.9 billion and 4.6 billion US dollars. Noncontrolling interests remained stable for the majority of the analysis period but experienced a sharp increase to 609 million US dollars in April 2026, compared to an average of approximately 200 million US dollars in previous years.
Overall Capital Structure
The relationship between total liabilities and total equity indicates a balanced capital structure. Total liabilities peaked at 46.3 billion US dollars in January 2021 and concluded at 43.0 billion US dollars in April 2026. The resulting debt-to-equity ratio suggests a stable reliance on a mix of debt and equity financing to support the company's asset base.