Medtronic 2016 Annual Report Download - page 135
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Table of Contents
Medtronic plc
Notes to Consolidated Financial Statements (Continued)
132
Condensed Consolidating Balance Sheet
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
ASSETS
Current assets:
Cash and cash equivalents $ — $ 55 $ — $ 2,821 $ — $ 2,876
Investments — — — 9,758 — 9,758
Accounts receivable, net — — — 5,562 — 5,562
Inventories — 162 — 3,511 (200) 3,473
Intercompany receivable 389 161,868 — 162,278 (324,535) —
Tax assets — 122 — 575 — 697
Prepaid expenses and other current assets 24 149 — 1,061 — 1,234
Total current assets 413 162,356 — 185,566 (324,735) 23,600
Property, plant and equipment, net — 1,139 — 3,702 — 4,841
Goodwill — — — 41,500 — 41,500
Other intangible assets, net — 31 — 26,868 — 26,899
Long-term tax assets — 690 — 693 — 1,383
Investment in subsidiaries 73,108 63,806 70,198 — (207,112) —
Intercompany loans receivable 3,000 8,884 10,203 18,140 (40,227) —
Other assets — 644 — 915 — 1,559
Total assets $ 76,521 $ 237,550 $ 80,401 $ 277,384 $ (572,074) $ 99,782
LIABILITIES AND SHAREHOLDERS’
EQUITY
Current liabilities:
Short-term borrowings $ — $ 500 $ — $ 493 $ — $ 993
Accounts payable — 288 — 1,421 — 1,709
Intercompany payable 20,486 151,687 — 152,362 (324,535) —
Accrued compensation 32 616 — 1,064 — 1,712
Accrued income taxes 11 — — 555 — 566
Deferred tax liabilities — — — — — —
Other accrued expenses 1 243 — 1,941 — 2,185
Total current liabilities 20,530 153,334 — 157,836 (324,535) 7,165
Long-term debt — 26,784 — 3,463 — 30,247
Long-term accrued compensation and
retirement benefits — 1,258 — 501 — 1,759
Long-term accrued income taxes 10 1,422 — 1,471 — 2,903
Long-term intercompany loans payable 3,918 10,128 14,297 11,884 (40,227) —
Long-term deferred tax liabilities — — — 3,729 — 3,729
Other long-term liabilities — 202 — 1,714 — 1,916
Total liabilities 24,458 193,128 14,297 180,598 (364,762) 47,719
Shareholders’ equity 52,063 44,422 66,104 96,786 (207,312) 52,063
Total liabilities and
shareholders’ equity $ 76,521 $ 237,550 $ 80,401 $ 277,384 $ (572,074) $ 99,782