Medtronic 2015 Annual Report Download - page 73

$700 million of 2009 Senior Notes, and $600 million of 2005 Senior Notes. The table above excludes the debt premium
and discount, the fair value impact of outstanding interest rate swap agreements, and the unamortized gains from
terminated interest rate swap agreements. See Notes 8 and 9 to the consolidated financial statements in “Item 8.
Financial Statements and Supplementary Data” in this Annual Report on Form 10-K for additional information
regarding the interest rate swap agreements.
Acquisitions
Information regarding acquisitions is included in Note 2 to the consolidated financial statements in “Item 8. Financial
Statements and Supplementary Data” in this Annual Report on Form 10-K.
We periodically acquire certain tangible or intangible assets from enterprises that do not otherwise qualify for accounting as a
business combination. These transactions are reflected in the consolidated statements of cash flows as a component of investing
activities under other investing activities, net.
New Accounting Pronouncements
Information regarding new accounting pronouncements is included in Note 1 to the consolidated financial statements in “Item 8.
Financial Statements and Supplementary Data” in this Annual Report on Form 10-K.
Cautionary Factors That May Affect Future Results
This Annual Report, and other written reports and oral statements made by or with the approval of one of the Company’s
executive officers from time to time, may include “forward-looking” statements. Forward-looking statements broadly include
our current expectations or forecasts of future results. Our forward-looking statements generally relate to our growth and growth
strategies, financial results, product development, research and development strategy, regulatory approvals, competitive
strengths, restructuring initiatives, intellectual property rights, litigation and tax matters, government investigations, mergers
and acquisitions (including matters related to our recently completed acquisition of Covidien), divestitures, market acceptance
of our products, accounting estimates, financing activities, ongoing contractual obligations, working capital adequacy, our
effective tax rate, and sales efforts. Such statements can be identified by the use of terminology such as “anticipate,” “believe,”
“could,” “estimate,” “expect,” “forecast,” “intend,” “looking ahead,” “may,” “plan,” “possible,” “potential,” “project,”
“should,” “will,” and similar words or expressions. Forward-looking statements in this Annual Report include, but are not
limited to, statements regarding our ability to drive long-term shareholder value, development and future launches of products
and continued or future acceptance of products in our operating segments; expected timing for completion of research studies
relating to our products; market positioning and performance of our products, including stabilization of certain product markets;
unanticipated issues that may affect U.S. FDA and non-U.S. regulatory approval of new products; increased presence in new
markets, including markets outside the U.S.; changes in the market and our market share; acquisitions and investment
initiatives, as well as integration of acquired companies into our operations; the resolution of tax matters; the effectiveness of
our development activities in reducing patient care costs and hospital stay lengths; our approach towards cost containment; our
expectations regarding health care costs; the elimination of certain positions or costs related to restructuring initiatives;
outcomes in our litigation matters and government investigations; general economic conditions; the adequacy of available
working capital and our working capital needs; the continued strength of our balance sheet and liquidity; our accounts
receivable exposure; and the potential impact of our compliance with governmental regulations and accounting guidance. One
must carefully consider forward-looking statements and understand that such statements may be affected by inaccurate
assumptions and may involve a variety of risks and uncertainties, known and unknown, including, among others, those
discussed in the sections entitled “Government Regulation and Other Considerations” within “Item 1. Business” and “Item 1A.
Risk Factors” in this Annual Report on Form 10-K, as well as those related to competition in the medical device industry,
reduction or interruption in our supply, quality problems, liquidity, decreasing prices, changes in applicable tax rates, adverse
regulatory action, litigation results, self-insurance, commercial insurance, health care policy changes, international operations,
or failure to achieve the intended benefits of the Covidien acquisition or disruption of our current plans and operations.
Consequently, no forward-looking statement can be guaranteed and actual results may vary materially. We intend to take
advantage of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding our forward-looking
statements, and are including this sentence for the express purpose of enabling us to use the protections of the safe harbor with
respect to all forward-looking statements.
We undertake no obligation to update any statement we make, but investors are advised to consult all other disclosures by us in
our filings with the Securities and Exchange Commission, especially on Forms 10-K, 10-Q, and 8-K, in which we discuss in
63