Medtronic 2009 Annual Report Download - page 101

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97
Medtronic, Inc.
On December 4, 2006, the Company announced its intention to
pursue a spin-off of Physio-Control into an independent, publicly
traded company. However, as discussed in the “Other Matters”
section of the management’s discussion and analysis, the
Company announced, in January 2007, a voluntary suspension of
U.S. shipments of Physio-Control products manufactured at its
facility in Redmond, Washington in order to address quality
system issues. The Company continues to work with the FDA to
address the quality system issues that must be resolved in order
to resume unrestricted distribution of its external defibrillators.
As a result of this issue, the Company’s plans to pursue a spin-off
of Physio-Control are on hold for at least the next twelve months.
As additional information, Physio-Control’s (loss)/income before
interest and income taxes for fiscal years 2009, 2008 and 2007 is
$(17) million, $(28) million and $7 million, respectively.
Geographic Information
Net sales to external customers by geography are as follows:
(in millions) United States Europe Asia Pacific Other Foreign Consolidated
Fiscal Year 2009
Net sales to external customers $8,997 $ 3,564 $1,558 $480 $14,599
Long-lived assets* $7,236 $ 5,660 $ 185 $286 $13,367
Fiscal Year 2008
Net sal es to e x tern al cus tom ers $ 8,336 $ 3,288 $ 1,437 $ 454 $ 13,515
Long - lived asse ts* $ 7,456 $ 4,791 $ 168 $ 36 $ 12,451
Fiscal Year 2007
Net sal es to e x tern al cus tom ers $ 7,900 $ 2,811 $ 1,195 $ 393 $ 12,299
Long - lived asse ts* $ 7,388 $ 604 $ 161 $ 34 $ 8,187
*Excludes other long-term financial instruments and long-term deferred tax assets, net, as applicable.
No single customer represents over 10 percent of the Company’s consolidated net sales in fiscal years 2009, 2008 or 2007.