Medtronic 2016 Annual Report Download - page 100
Download and view the complete annual report
Please find page 100 of the 2016 Medtronic annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104 -
105 -
106 -
107 -
108 -
109 -
110 -
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
 |
 |
Table of Contents
Medtronic plc
Notes to Consolidated Financial Statements (Continued)
97
The amount and location of the gains in the consolidated statements of income related to derivative instruments, not designated
as hedging instruments, for fiscal years 2016, 2015, and 2014 are as follows:
(in millions) Fiscal Year
Derivatives Not Designated as Hedging Instruments Location 2016 2015 2014
Currency exchange rate contracts Other expense $ 33 $ 210 $ 15
Cash Flow Hedges
Currency Exchange Rate Risk
Forward contracts designated as cash flow hedges are designed to hedge the variability of cash flows associated with forecasted
transactions denominated in a foreign currency that will take place in the future. No gains or losses relating to ineffectiveness of
cash flow hedges were recognized in earnings during fiscal years 2016, 2015, or 2014. No components of the hedge contracts were
excluded in the measurement of hedge ineffectiveness and no hedges were derecognized or discontinued during fiscal years 2016,
2015, or 2014. The gross notional amount of these contracts, designated as cash flow hedges, outstanding at April 29, 2016 and
April 24, 2015 was $5.7 billion and $5.1 billion, respectively, and will mature within the subsequent two-year period.
The amount of gains (losses) and location of the gains (losses) in the consolidated statements of income and other comprehensive
income (OCI) related to foreign currency exchange rate contract derivative instruments designated as cash flow hedges for the
fiscal years ended April 29, 2016, April 24, 2015, and April 25, 2014 are as follows:
April 29, 2016
Gross Gains Recognized in OCI
on Effective Portion of Derivative Effective Portion of Gains (Losses) on Derivative Reclassified from
AOCI into Income
(in millions)
Derivatives in Cash Flow Hedging
Relationships Amount Location Amount
Currency exchange
rate contracts $ (165) Other expense, net $ 405
Cost of products sold (37)
Total $ (165) $ 368
April 24, 2015
Gross Losses Recognized in OCI
on Effective Portion of Derivative Effective Portion of Gains (Losses) on Derivative Reclassified from
AOCI into Income
(in millions)
Derivatives in Cash Flow Hedging
Relationships Amount Location Amount
Currency exchange
rate contracts $ 707 Other expense, net $ 221
Cost of products sold (65)
Total $ 707 $ 156
April 25, 2014
Gross Gains Recognized in OCI
on Effective Portion of Derivative Effective Portion of Gains (Losses) on Derivative Reclassified from
AOCI into Income
(in millions)
Derivatives in Cash Flow Hedging
Relationships Amount Location Amount
Currency exchange
rate contracts $ (152) Other expense, net $ 94
Cost of products sold (43)
Total $ (152) $ 51