Medtronic 2016 Annual Report Download - page 132
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Table of Contents
Medtronic plc
Notes to Consolidated Financial Statements (Continued)
129
Consolidating Statement of Comprehensive Income
Fiscal Year Ended April 29, 2016
Medtronic Senior Notes
(in millions)
Parent
Company
Guarantor
(Medtronic
plc)
Subsidiary
Issuer
(Medtronic,
Inc.) Subsidiary
Guarantors
Subsidiary
Non-
guarantors Consolidating
Adjustments Total
Net sales $ — $ 1,411 $ — $ 28,832 $ (1,410) $ 28,833
Costs and expenses:
Cost of products sold — 991 — 9,561 (1,410) 9,142
Research and development expense — 627 — 1,597 — 2,224
Selling, general, and administrative
expense 10 991 — 8,468 — 9,469
Special (gains) charges, net — 70 — — — 70
Restructuring charges, net — 17 — 273 — 290
Certain litigation charges, net — — — 26 — 26
Acquisition-related items — 135 — 148 — 283
Amortization of intangible assets — 12 — 1,919 — 1,931
Other (income) expense, net 112 (2,329) — 2,324 — 107
Operating profit (loss) (122) 897 — 4,516 — 5,291
Interest income — (237)(706)(448) 960 (431)
Interest expense 25 1,906 10 405 (960) 1,386
Interest expense (income), net 25 1,669 (696)(43) — 955
Equity in net (income) loss of
subsidiaries (3,676) 4,224 (2,980) — 2,432 —
Income (loss) from operations before
income taxes 3,529 (4,996) 3,676 4,559 (2,432) 4,336
Provision (benefit) for income taxes (9) (96) — 903 — 798
Net income (loss) 3,538 (4,900) 3,676 3,656 (2,432) 3,538
Other comprehensive income (loss), net
of tax (684) (493)(684)(673) 1,850 (684)
Total comprehensive income (loss) $ 2,854 $ (5,393) $ 2,992 $ 2,983 $ (582) $ 2,854