Medtronic 2013 Annual Report Download - page 135

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75732me_10K.indd 120 6/25/13 6:40 PM
Table of Contents
Medtronic, Inc.
Notes to Consolidated Financial Statements (Continued)
Net sales of the Company’s reportable segments include end-customer revenues from the sale of products they each develop and
manufacture or distribute. Net sales and earnings before income taxes by reportable segment are as follows:
Fiscal Year
(in millions) 2013 2012 2011
Cardiac and Vascular Group $ 8,695 $ 8,482 $ 8,119
Restorative Therapies Group 7,895 7,702 7,389
Total Net Sales $ 16,590 $ 16,184 $ 15,508
Fiscal Year
(in millions) 2013 2012 2011
Cardiac and Vascular Group $ 2,935 $ 2,772 $ 2,826
Restorative Therapies Group 2,210 2,103 2,085
Total Reportable Segments’ Earnings Before Income Taxes 5,145 4,875 4,911
Restructuring charges, net(a) (182) (87) (270)
Certain litigation charges, net (245) (90) (245)
Acquisition-related items 49 (12) (14)
Interest expense, net (151) (149) (278)
Corporate (365) (392) (440)
Total Earnings From Continuing Operations Before Income Taxes $ 4,251 $ 4,145 $ 3,664
(a) For fiscal years 2013 and 2011, restructuring charges, net within this table include the impact of amounts recorded within cost of
products sold in the consolidated statements of earnings related to the fiscal year 2013 initiative and fiscal year 2011 initiative,
respectively.
The following table presents the Company’s net assets by reportable segment:
April 26, April 27,
(in millions) 2013 2012
Cardiac and Vascular Group $ 6,941 $ 7,004
Restorative Therapies Group 11,915 11,313
Total Net Assets of Reportable Segments 18,856 18,317
Short-term borrowings (910) (3,274)
Long-term debt (9,741) (7,359)
Corporate 10,466 9,429
Total Net Assets of Continuing Operations $ 18,671 $ 17,113
117