Medtronic 2015 Annual Report Download - page 146
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Medtronic plc
Notes to Consolidated Financial Statements (Continued)
Condensed Consolidating Balance Sheet
Fiscal Year Ended April 25, 2014
Medtronic 2015 Senior Notes and Medtronic Outstanding Notes
Parent
Company
Guarantor
(Medtronic
plc)
Subsidiary
Issuer
(Medtronic,
Inc.)
Subsidiary
Guarantors
Subsidiary
Non-
guarantors
Consolidating
Adjustments Total
(in millions)
ASSETS
Current assets:
Cash and cash equivalents $ — $ 264 $ — $ 1,139 $ — $ 1,403
Investments — — — 12,838 — 12,838
Accounts receivable, net — — — 3,811 — 3,811
Inventories — 154 — 1,571 — 1,725
Intercompany receivable — 43,377 — 51,593 (94,970) —
Tax assets — 602 — 193 (59) 736
Prepaid expenses and other current assets — 479 — 597 (379) 697
Total current assets — 44,876 — 71,742 (95,408) 21,210
Property, plant and equipment, net — 954 — 1,461 (23) 2,392
Goodwill — 1,565 — 9,028 — 10,593
Other intangible assets, net — 51 — 2,235 — 2,286
Long-term tax assets — 435 — 252 (387) 300
Investment in subsidiaries 36,943 — (36,943) —
Intercompany loans receivable — 20 — 273 (293) —
Other assets — 573 — 589 — 1,162
Total assets $ — $ 85,417 $ — $ 85,580 $ (133,054) $37,943
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings $ — $ 1,262 $ — $ 351 $ — $ 1,613
Accounts payable — 201 — 541 — 742
Intercompany payable — 51,593 — 43,377 (94,970) —
Accrued compensation — 405 — 610 — 1,015
Accrued income taxes — 144 — 20 — 164
Deferred tax liabilities — — — 78 (59) 19
Other accrued expenses — — — 2,408 (402) 2,006
Total current liabilities — 53,605 — 47,385 (95,431) 5,559
Long-term debt — 10,177 — 138 — 10,315
Long-term accrued compensation and retirement
benefits — 487 — 175 — 662
Long-term accrued income taxes — 1,315 — 28 — 1,343
Long-term intercompany loans payable — 273 — 20 (293) —
Long-term deferred tax liabilities — — — 773 (387) 386
Other long-term liabilities — 117 — 118 — 235
Total liabilities — 65,974 — 48,637 (96,111) 18,500
Shareholders’ equity — 19,443 — 36,943 (36,943) 19,443
Total liabilities and shareholders’ equity $ — $ 85,417 $ — $ 85,580 $ (133,054) $37,943
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