Medtronic 2007 Annual Report Download - page 3

Download and view the complete annual report

Please find page 3 of the 2007 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.

Page out of 96

  • 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

>ccdkVi^kZI]ZgVe^Zh
idIgZVii]ZLdgaYÉhBdhiEgZhh^c\=ZVai]XVgZCZZYh
86G9>68G=NI=B9>HDG9:GH
& >ggZ\jaVg=ZVgiGViZh
>beaVciVWaZeVXZbV`Zghi]VigZ\jaViZhadl]ZVgigViZh!VcY^beaVciVWaZ
VcYZmiZgcVaYZ[^Wg^aaVidghidgZ\jaViZdgh]dX`[Vhi]ZVgigViZhi]ViXVc
aZVYidhjYYZcXVgY^VXVggZhi#
' =ZVgi;V^ajgZ
>beaVciVWaZXVgY^VXgZhncX]gdc^oVi^dchnhiZbhi]VigZhncX]gdc^oZi]Z
]ZVgiVcY^begdkZWaddY"ejbe^c\VW^a^in#
( JcZmeaV^cZYHncXdeZ
>beaVciVWaZgZXdgYZghi]Vi]ZaeY^V\cdhZ]ZVgi"gZaViZYXVjhZhd[
gZXjggZci!jcZmeaV^cZY[V^ci^c\#
86G9>DK6H8JA6G9>H:6H:
) =ZVgiKVakZ9^hZVhZ
>beaVciVWaZW^degdhi]Zi^Xi^hhjZVcYbZX]Vc^XVakVakZhidgZeaVXZ
YVbV\ZYkVakZh#
* 8dgdcVgn6giZgn9^hZVhZ
EZg[jh^dchnhiZbh[dgVggZhiZY"]ZVgihjg\ZgnVcY]ZVgihiVW^a^oVi^dc
hnhiZbh[dgWZVi^c\"]ZVgihjg\ZgnidWneVhhWadX`ZYVgiZg^Zh#
+ 6ig^Va;^Wg^aaVi^dc
GVY^d[gZfjZcXnVWaVi^dchnhiZbhi]Vi^c]^W^iVWcdgbVaZaZXig^XVaVXi^k^in#
, 8dgdcVgnKVhXjaVg9^hZVhZ
9^V\cdhi^XVcY\j^Y^c\XVi]ZiZgh!Vc\^deaVhinWVaaddchVcY^beaVciVWaZ
hiZcihidl^YZcWadX`ZYVgiZg^Zhi]VigZYjXZWaddYhjeeanidi]Z]ZVgi#
- EZg^e]ZgVa9^hZVhZ
8Vi]ZiZghVcY^beaVciVWaZhiZcihi]ViigZViWaddYkZhhZaVcYYjXi
WadX`V\Zh^cdi]ZgeVgihd[i]ZWdYn#
. 6dgi^X9^hZVhZ
>beaVciVWaZZcYdkVhXjaVghiZci\gV[ihi]Viegdk^YZhjeedgi[dgVlZV`ZcZY
VcYWVaaddc^c\Vdgi^XVgiZgn!l]^X]gjchi]gdj\]i]ZX]ZhiVcYVWYdbZc!
VcYY^hig^WjiZhWaddY[gdbi]Z]ZVgiidi]ZgZhid[i]ZWdYn#
HE>C6A8DC9>I>DCH6C9
BJH8JADH@:A:I6AIG6JB6
&% HXda^dh^h
;jh^dchnhiZbhi]ViXdggZXiVcYhiVW^a^oZVWcdgbVahe^cVaXjgkZh#
&& 9Z\ZcZgVi^kZ9^hX9^hZVhZ
B^c^bVa6XXZhhHe^cVaIZX]cdad\^ZhB6HIVcYWdcZbdge]d\ZcZi^X
egdiZ^chi]ViigZVieV^c[jaXdcY^i^dchd[i]Zhe^cZ#
&' H^cjh6j\bZciVi^dc
7dcZbdge]d\ZcZi^XegdiZ^chi]ViVj\bZciWdcZ\gdli][dgb^hh^c\dg
YVbV\ZYWdcZ^ci]Z[VXZ#
&( I^W^Va;gVXijgZh
7dcZbdge]d\ZcZi^XegdiZ^chi]Vi]ZVaXZgiV^cineZhd[[gVXijgZY
h]^cWdcZh#
:6G!CDH:6C9I=GD6I8DC9>I>DCH
&) Bc^gZÉh9^hZVhZ
EdgiVWaZZmiZgcVaYZk^XZi]ViYZa^kZghadl"egZhhjgZV^gejahZhidi]Z^ccZg
ZVgidVaaZk^ViZhZkZgZkZgi^\d#
&* :Vg>c[ZXi^dch
Hjg\^XVaiddahVcY^beaVciVWaZYZk^XZhidgZbdkZVcYgZeaVXZZmXZhhdg
Y^hZVhZYi^hhjZ#
&+ H^cjh>c[ZXi^dch
Hjg\^XVaiddahidjcWadX`Xad\\ZYdgdWhigjXiZYh^cjhZh#
&, I]ngd^Y9^hZVhZ
:fj^ebZcii]Vibdc^idghcZgkZhYjg^c\Xdbea^XViZY!
]^\]"g^h`i]ngd^Yhjg\ZgnidVkd^YcZgkZYVbV\Z#
C:JGDAD<>86A9>HDG9:GH
&- EVg`^chdcÉh9^hZVhZ!:hhZci^VaIgZbdgVcY9nhidc^V
>beaVciVWaZYZZeWgV^chi^bjaVi^dchnhiZbhidgZYjXZbdidghnbeidbhd[
bdkZbZciY^hdgYZgh#
&. =nYgdXZe]Vajh
>beaVciVWaZh]jcihi]ViY^kZgiZmXZhh[aj^Y^ci]ZWgV^ciddi]ZgeVgihd[
i]ZWdYn!l]ZgZ^iXVcWZgZVWhdgWZY#
'% DWhZhh^kZ"8dbejah^kZ9^hdgYZg
>beaVciVWaZYZZeWgV^chi^bjaVi^dchnhiZbhidaZhhZchnbeidbh!^cXajY^c\
dWhZhh^kZi]dj\]ihVcYXdbejah^kZWZ]Vk^dgh#
'& 9ZegZhh^dc
>beaVciVWaZYZZeWgV^chi^bjaVi^dchnhiZbhidaZhhZchnbeidbh!^cXajY^c\
egd[djcYVcYeZgh^hiZcihVYcZhh!VcYhj^X^YVai]dj\]ih#
'' HeVhi^X^in
>beaVciVWaZ^c[jh^dchnhiZbhi]ViYZa^kZgbZY^XVi^dcY^gZXianidi]Z
^cigVi]ZXVaheVXZÅi]Z[aj^Y"[^aaZYVgZVhjggdjcY^c\i]Zhe^cVaXdgYÅ
idaddhZci^\]i!hi^[[bjhXaZh#
'( :e^aZehn
>beaVciVWaZYZZeWgV^chi^bjaVi^dchnhiZbhidgZYjXZi]Z[gZfjZcXn
d[hZ^ojgZh#
') 8]gdc^XEV^c
>beaVciVWaZcZjgdhi^bjaVi^dchnhiZbhVcY^c[jh^dchnhiZbhi]ViYZa^kZg
ZaZXig^XVaejahZhVcYYgj\h!gZheZXi^kZan!idheZX^[^XVgZVhd[i]ZWdYnÅ
jhjVaanVgdjcYi]Zhe^cZÅidWadX`eV^chZchVi^dch#
JGDAD<>86A6C99><:HI>K:9>HDG9:GH
'* DkZgVXi^kZ7aVYYZgVcYJg^cVgnGZiZci^dc
>beaVciVWaZcZjgdhi^bjaVi^dchnhiZbiVg\Zi^c\i]ZhVXgVacZgkZhidXdcigda
WaVYYZg[jcXi^dc#
'+ 7Zc^\cEgdhiVi^X=neZgeaVh^V7E=
GVY^d[gZfjZcXnVWaVi^dchnhiZbi]ViYZa^kZghigZVibZciY^gZXianidi]Z
egdhiViZidgZYjXZZmXZhhi^hhjZVcY^begdkZjg^cZ[adl#
', 6X^YGZ[ajm
9^V\cdhi^XiZhii]VijhZhVl^gZaZhhXVehjaZidbdc^idge=aZkZah^c
i]ZZhde]V\jh#
'- <VhigdeVgZh^h
>beaVciVWaZ\Vhig^Xhi^bjaVi^dchnhiZbidb^c^b^oZi]ZX]gdc^XcVjhZV
VcYkdb^i^c\VhhdX^ViZYl^i]VWcdgbVaanhadlY^\Zhi^dc#
'. ;ZXVa>cXdci^cZcXZ
>beaVciVWaZcZjgdhi^bjaVi^dchnhiZbiVg\Zi^c\i]ZhVXgVacZgkZhidXdcigda
WdlZa[jcXi^dc#
9>67:I:H
(% :miZgcVaVcY^beaVciVWaZ^chja^cejbeh!gZVa"i^bZXdci^cjdjh\ajXdhZ
bdc^idg^c\hnhiZbhVcYi]ZgVenbVcV\ZbZcihd[ilVgZi]Vi]ZaeY^VWZiZh
eVi^Zcih^begdkZWaddYhj\VgXdcigda#
^
ci]ZJc^iZYHiViZh#
6aaZk^Vi^c\eV^c!gZhidg^c\