Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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Medtronic PLC, consolidated cash flow statement (quarterly data)
US$ in millions
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).
- Net Income
- The net income exhibits considerable volatility across the quarters. There was a sharp decline in the quarter ending April 24, 2020, followed by a sharp recovery and subsequent fluctuations. The peak values occur sporadically, without a clear upward or downward long-term trend. Recent quarters display a moderate level of net income compared to past peaks.
- Depreciation and Amortization
- Depreciation and amortization expenses remain relatively stable, hovering around the mid-600s (millions) across most quarters, with a gradual increase to 840 million in the latest quarter. This steady rise may indicate increasing capital asset base or amortizable intangible assets.
- Provision for Credit Losses
- Provisions for credit losses fluctuate moderately, with occasional peaks such as 51 million in January 2025. There is no consistent directional trend, but some higher spikes are apparent around the middle and end of the timeline.
- Deferred Income Taxes
- Deferred income taxes show significant negative values in several quarters, with large drops during late 2019 and early 2020. The negative values dominate much of the period, suggesting recurring deferred tax liabilities or adjustments. Some positive rebounds appear intermittently but do not establish a stable pattern.
- Stock-based Compensation
- This expense item oscillates frequently between approximately 60 and 160 million, often spiking in the quarters around October and January. This pattern could reflect periodic equity grants or compensation events tied to fiscal periods.
- Loss on Debt Extinguishment
- Losses are recorded in the early period, notably 406 million in July 2019 and 308 million in October 2020, with intermittent smaller losses afterward. These nonrecurring charges contribute to variability in net income and financial results.
- MCS Asset Impairment and Inventory Write-down
- Reported irregularly with significant impairments in April 2021 (515 million) and July 2024 (371 million), indicating occasional write-downs impacting earnings and asset valuations.
- Other, Net
- Other net items fluctuate significantly with both positive and negative values, including substantial gains such as 308 million in October 2023 and negative swings like -89 million in January 2024, reflecting miscellaneous adjustments or items not classified elsewhere.
- Working Capital Components (Accounts Receivable, Inventories, Accounts Payable)
- Accounts receivable and inventories demonstrate considerable fluctuations, oscillating between positive and negative changes, indicative of variable collection and stock management cycles. Accounts payable similarly oscillates, with periods of both increase and decrease, affecting working capital dynamics.
- Change in Operating Assets and Liabilities, Net
- These changes are highly volatile, with sharp negative swings, particularly around mid-2020 and multiple occurrences thereafter. Large negative shifts imply tightening or releases in working capital that strongly influence cash flow.
- Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
- Adjustments are generally positive, supporting the conversion from net income to operating cash flow. Peaks occur sporadically, with the largest adjustment seen in April 2024 (2117 million), indicating non-cash charges or changes aiding cash generation.
- Net Cash Provided by Operating Activities
- Operating cash flow is robust but volatile, with peaks exceeding 2700 million (April 2024) and troughs below 1000 million, reflecting operational cash generation capacity amid fluctuating income and working capital changes.
- Investing Activities
- Investing cash flows are predominantly negative, driven mainly by purchases of investments, which consistently exceed sales, reflecting ongoing asset acquisitions or investment increases. Additions to property, plant, and equipment remain substantial and fairly steady, indicating continued capital expenditure. Acquisitions present occasional large outflows, notably a major outlay in mid-2022 (-1191 million). The overall investing trend suggests active asset expansion and reinvestment with intermittent divestitures.
- Financing Activities
- Financing cash flows are highly variable. Early periods show net outflows, with significant repayments of long-term debt and share repurchases. Debt issuance spikes notably occasionally (e.g., 5567 million in July 2019, 7172 million in January 2021), offset by large repayments and borrowings activity. Dividends show a steady and incremental increase over time, signaling consistent shareholder returns. Share repurchases fluctuate, with significant activity in various quarters. The financing strategy appears opportunistic, balancing debt issuances, repayments, equity buybacks, and dividends.
- Effect of Exchange Rate Changes on Cash and Cash Equivalents
- Exchange rate effects show irregular positive and negative impacts with no clear trend, occasionally influencing cash balances significantly, such as a 541 million positive adjustment in January 2023 and a -175 million impact in October 2023.
- Net Change in Cash and Cash Equivalents
- Cash levels fluctuate notably with periods of both considerable increases and decreases. Noteworthy surges occur, for example, in July 2020 (2359 million) and October 2022 (2688 million), interspersed with declines (e.g., April 2023 -2979 million), mirroring the combined effects of operational, investing, and financing cash movements.