Medtronic 2016 Annual Report Download - page 134
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Table of Contents
Medtronic plc
Notes to Consolidated Financial Statements (Continued)
131
Consolidating Statement of Comprehensive Income
Fiscal Year Ended April 25, 2014
Medtronic Senior Notes
(in millions)
Parent
Company
Guarantor
(Medtronic
plc)
Subsidiary
Issuer
(Medtronic,
Inc.) Subsidiary
Guarantors
Subsidiary
Non-
guarantors Consolidating
Adjustments Total
Net sales $ — $ 1,155 $ — $ 17,005 $ (1,155) $ 17,005
Costs and expenses:
Cost of products sold — 787 — 4,674 (1,128) 4,333
Research and development expense — 540 — 937 — 1,477
Selling, general, and administrative
expense — 821 — 5,026 — 5,847
Special (gains) charges — 40 — — — 40
Restructuring charges, net — 71 — 7 — 78
Certain litigation charges, net — (24) — 794 — 770
Acquisition-related items — — — 117 — 117
Amortization of intangible assets — 12 — 337 — 349
Other (income) expense, net — (1,623) — 1,804 — 181
Operating profit (loss) — 531 — 3,309 (27) 3,813
Interest income — (5) — (267) 1 (271)
Interest expense — 317 — 63 (1) 379
Interest expense (income), net — 312 — (204) — 108
Equity in net (income) loss of
subsidiaries — (3,077) — — 3,077 —
Income (loss) from operations before
income taxes — 3,296 — 3,513 (3,104) 3,705
Provision (benefit) for income taxes — 231 — 409 — 640
Net income (loss) — 3,065 — 3,104 (3,104) 3,065
Other comprehensive income (loss), net
of tax —(105) — (286) 286 (105)
Total comprehensive income (loss) $ — $ 2,960 $ — $ 2,818 $ (2,818) $ 2,960