Medtronic 2014 Annual Report Download - page 39

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If completed, the Pending Acquisition may not achieve the intended benefits or may disrupt our current plans and
operations.
There can be no assurance that we will be able to successfully integrate the businesses of Medtronic and Covidien or otherwise
realize the expected benefits of the Pending Acquisition. The expected cost savings and synergies of the merger may not be
fully realized, which could result in increased costs and have an adverse effect on the combined company’s financial results and
prospects. Our business may be negatively impacted following the Pending Acquisition if we are unable to effectively manage
our expanded operations. The integration will require significant time and focus from management following the merger and
may divert attention from the day-to-day operations of the combined business. Additionally, consummation of the Pending
Acquisition could disrupt current plans and operations, which could delay the achievement of our strategic objectives.
Item 1B. Unresolved Staff Comments
None.
Item 2. Properties
Our principal offices are owned by us and located in the Minneapolis, Minnesota metropolitan area. Manufacturing or research
facilities are located in Arizona, California, Colorado, Connecticut, Florida, Indiana, Massachusetts, Michigan, Minnesota,
New Jersey, Tennessee, Texas, Puerto Rico, Canada, Denmark, France, Germany, Ireland, Israel, Italy, Mexico, The
Netherlands, The People’s Republic of China, Singapore, and Switzerland. Our total manufacturing and research space is
approximately 4.5 million square feet. Approximately 40 percent of the manufacturing or research facilities are owned by us and
the balance is leased.
We also maintain sales and administrative offices in the U.S. at 39 locations in 25 states or jurisdictions and outside the U.S. at
118 locations in 50 countries. Most of these locations are leased. We are using substantially all of our currently available
productive space to develop, manufacture, and market our products. Our facilities are in good operating condition, suitable for
their respective uses, and adequate for current needs.
Item 3. Legal Proceedings
A discussion of the Company’s policies with respect to legal proceedings is discussed in our contingencies footnote as described
in Note 18 to the consolidated financial statements in “Item 8. Financial Statements and Supplementary Data” in this Annual
Report on Form 10-K.
Item 4. Mine Safety Disclosures
Not applicable.
31