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Guarantor Financial Information (Tables)

12 Months Ended

Apr. 28, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Consolidating Statement of Comprehensive Income

Fiscal Year Ended April 28, 2017

Medtronic Senior Notes and Medtronic Luxco Senior Notes



(in millions)	Medtronic plc			Medtronic, Inc.			Medtronic Luxco			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Net sales	$	—		$	1,296		$	—		$	29,708		$	(1,294	)	$	29,710

Costs and expenses:
Cost of products sold	—			932			—			9,676			(1,317		)	9,291
Research and development expense	—			636			—			1,557			—			2,193
Selling, general, and administrative expense	12			1,163			—			8,536			—			9,711
Special charge (gain), net	—			100			—			—			—			100
Restructuring charges, net	—			114			—			249			—			363
Certain litigation charges	—			—			—			300			—			300
Acquisition-related items	—			133			—			87			—			220
Amortization of intangible assets	—			11			—			1,969			—			1,980
Other expense (income), net	18			(2,954		)	—			3,158			—			222
Operating (loss) profit	(30		)	1,161			—			4,176			23			5,330

Interest income	—			(250		)	(649		)	(1,065		)	1,598			(366		)
Interest expense	113			1,652			62			865			(1,598		)	1,094
Interest expense (income), net	113			1,402			(587		)	(200		)	—			728
Equity in net (income) loss of subsidiaries	(4,163		)	(2,484		)	(3,576		)	—			10,223			—
Income (loss) from operations before income taxes	4,020			2,243			4,163			4,376			(10,200		)	4,602
Provision (benefit) for income taxes	(8		)	(1		)	—			587			—			578
Net income	4,028			2,244			4,163			3,789			(10,200		)	4,024
Net loss attributable to noncontrolling interests	—			—			—			4			—			4
Net income attributable to Medtronic	4,028			2,244			4,163			3,793			(10,200		)	4,028
Other comprehensive (loss) income, net of tax	(745		)	111			(745		)	(928		)	1,563			(744		)
Other comprehensive loss attributable to non-controlling interests	—			—			—			3			—			3
Total comprehensive income (loss) attributable to Medtronic	$	3,283		$	2,355		$	3,418		$	2,864		$	(8,637	)	$	3,283

Consolidating Statement of Comprehensive Income

Fiscal Year Ended April 29, 2016

Medtronic Senior Notes



(in millions)	Medtronic plc			Medtronic, Inc.			Medtronic Luxco			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 charge (gain), net	—			70			—			—			—			70
Restructuring charges, net	—			17			—			273			—			290
Certain litigation charges	—			—			—			26			—			26
Acquisition-related items	—			135			—			148			—			283
Amortization of intangible assets	—			12			—			1,919			—			1,931
Other expense (income), net	112			(2,329		)	—			2,324			—			107
Operating (loss) profit	(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		)	(2,447		)	(2,980		)	—			9,103			—
Income (loss) from operations before income taxes	3,529			1,675			3,676			4,559			(9,103		)	4,336
Provision (benefit) for income taxes	(9		)	(96		)	—			903			—			798
Net income	3,538			1,771			3,676			3,656			(9,103		)	3,538
Other comprehensive (loss) income, net of tax	(684		)	(493		)	(684		)	(673		)	1,850			(684		)
Total comprehensive income (loss)	$	2,854		$	1,278		$	2,992		$	2,983		$	(7,253	)	$	2,854

Consolidating Statement of Comprehensive Income

Fiscal Year Ended April 24, 2015

Medtronic Senior Notes



(in millions)	Medtronic plc			Medtronic, Inc.			Medtronic Luxco			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Net sales	$	—		$	1,261		$	—		$	20,261		$	(1,261	)	$	20,261

Costs and expenses:
Cost of products sold	—			895			—			6,659			(1,245		)	6,309
Research and development expense	—			552			—			1,088			—			1,640
Selling, general, and administrative expense	1			857			—			6,046			—			6,904
Special charge (gain), net	—			100			—			(138		)	—			(38		)
Restructuring charges, net	—			7			—			230			—			237
Certain litigation charges	—			—			—			42			—			42
Acquisition-related items	—			312			—			238			—			550
Amortization of intangible assets	—			11			—			722			—			733
Other expense (income), net	103			(1,618		)	—			1,633			—			118
Operating (loss) profit	(104		)	145			—			3,741			(16		)	3,766

Interest income	—			(56		)	(170		)	(387		)	227			(386		)
Interest expense	—			762			—			131			(227		)	666
Interest expense (income), net	—			706			(170		)	(256		)	—			280
Equity in net (income) loss of subsidiaries	(2,790		)	(5,500		)	(2,620		)	—			10,910			—
Income (loss) from operations before income taxes	2,686			4,939			2,790			3,997			(10,926		)	3,486
Provision (benefit) for income taxes	11			(44		)	—			844			—			811
Net income	2,675			4,983			2,790			3,153			(10,926		)	2,675
Other comprehensive income (loss), net of tax	(587		)	(542		)	(587		)	(232		)	1,361			(587		)
Total comprehensive income (loss)	$	2,088		$	4,441		$	2,203		$	2,921		$	(9,565	)	$	2,088

Consolidating Statement of Comprehensive Income

Fiscal Year Ended April 28, 2017

CIFSA Senior Notes



(in millions)	Medtronic plc			CIFSA			CIFSA Subsidiary Guarantors			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Net sales	$	—		$	—		$	—		$	29,710		$	—		$	29,710

Costs and expenses:
Cost of products sold	—			—			—			9,291			—			9,291
Research and development expense	—			—			—			2,193			—			2,193
Selling, general, and administrative expense	12			1			2			9,696			—			9,711
Special charge (gain), net	—			—			—			100			—			100
Restructuring charges, net	—			—			—			363			—			363
Certain litigation charges	—			—			—			300			—			300
Acquisition-related items	—			—			—			220			—			220
Amortization of intangible assets	—			—			—			1,980			—			1,980
Other expense (income), net	18			1			4			199			—			222
Operating (loss) profit	(30		)	(2		)	(6		)	5,368			—			5,330

Interest income	—			(82		)	(656		)	(433		)	805			(366		)
Interest expense	113			104			62			1,620			(805		)	1,094
Interest expense (income), net	113			22			(594		)	1,187			—			728
Equity in net (income) loss of subsidiaries	(4,163		)	(2,329		)	(3,575		)	—			10,067			—
Income (loss) from operations before income taxes	4,020			2,305			4,163			4,181			(10,067		)	4,602
Provision (benefit) for income taxes	(8		)	—			—			586			—			578
Net income	4,028			2,305			4,163			3,595			(10,067		)	4,024
Net loss attributable to noncontrolling interests	—			—			—			4			—			4
Net income attributable to Medtronic	4,028			2,305			4,163			3,599			(10,067		)	4,028
Other comprehensive (loss) income, net of tax	(745		)	(84		)	(745		)	(744		)	1,574			(744		)
Other comprehensive loss attributable to non-controlling interests	—			—			—			3			—			3
Total comprehensive income (loss) attributable to Medtronic	$	3,283		$	2,221		$	3,418		$	2,854		$	(8,493	)	$	3,283

Consolidating Statement of Comprehensive Income

Fiscal Year Ended April 29, 2016

CIFSA Senior Notes



(in millions)	Medtronic plc			CIFSA			CIFSA Subsidiary Guarantors			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Net sales	$	—		$	—		$	—		$	28,833		$	—		$	28,833

Costs and expenses:
Cost of products sold	—			—			—			9,142			—			9,142
Research and development expense	—			—			—			2,224			—			2,224
Selling, general, and administrative expense	10			1			3			9,455			—			9,469
Special charge (gain), net	—			—			—			70			—			70
Restructuring charges, net	—			—			—			290			—			290
Certain litigation charges	—			—			—			26			—			26
Acquisition-related items	—			—			—			283			—			283
Amortization of intangible assets	—			—			—			1,931			—			1,931
Other expense (income), net	112			1			(18		)	12			—			107
Operating (loss) profit	(122		)	(2		)	15			5,400			—			5,291

Interest income	—			(434		)	(710		)	(464		)	1,177			(431		)
Interest expense	25			138			10			2,390			(1,177		)	1,386
Interest expense (income), net	25			(296		)	(700		)	1,926			—			955
Equity in net (income) loss of subsidiaries	(3,676		)	(2,043		)	(2,961		)	—			8,680			—
Income (loss) from operations before income taxes	3,529			2,337			3,676			3,474			(8,680		)	4,336
Provision (benefit) for income taxes	(9		)	—			—			807			—			798
Net income	3,538			2,337			3,676			2,667			(8,680		)	3,538
Other comprehensive (loss) income, net of tax	(684		)	(102		)	(684		)	(684		)	1,470			(684		)
Total comprehensive income (loss)	$	2,854		$	2,235		$	2,992		$	1,983		$	(7,210	)	$	2,854

Consolidating Statement of Comprehensive Income

Fiscal Year Ended April 24, 2015

CIFSA Senior Notes



(in millions)	Medtronic plc			CIFSA			CIFSA Subsidiary Guarantors			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Net sales	$	—		$	—		$	—		$	20,261		$	—		$	20,261

Costs and expenses:
Cost of products sold	—			—			—			6,309			—			6,309
Research and development expense	—			—			—			1,640			—			1,640
Selling, general, and administrative expense	1			—			21			6,882			—			6,904
Special charge (gain), net	—			—			—			(38		)	—			(38		)
Restructuring charges, net	—			—			—			237			—			237
Certain litigation charges	—			—			—			42			—			42
Acquisition-related items	—			—			—			550			—			550
Amortization of intangible assets	—			—			—			733			—			733
Other expense (income), net	103			—			26			(11		)	—			118
Operating (loss) profit	(104		)	—			(47		)	3,917			—			3,766

Interest income	—			(149		)	(170		)	(386		)	319			(386		)
Interest expense	—			29			—			956			(319		)	666
Interest expense (income), net	—			(120		)	(170		)	570			—			280
Equity in net (income) loss of subsidiaries	(2,790		)	1,085			(2,667		)	—			4,372			—
Income (loss) from operations before income taxes	2,686			(965		)	2,790			3,347			(4,372		)	3,486
Provision (benefit) for income taxes	11			—			—			800			—			811
Net income	2,675			(965		)	2,790			2,547			(4,372		)	2,675
Other comprehensive (loss) income, net of tax	(587		)	200			(587		)	(587		)	974			(587		)
Total comprehensive income (loss)	$	2,088		$	(765	)	$	2,203		$	1,960		$	(3,398	)	$	2,088

Condensed Consolidating Balance Sheet

April 28, 2017

Medtronic Senior Notes and Medtronic Luxco Senior Notes



(in millions)	Medtronic plc		Medtronic, Inc.		Medtronic Luxco		Subsidiary Non-guarantors		Consolidating Adjustments			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	45	$	5	$	4,917	$	—		$	4,967
Investments	—		—		—		8,741		—			8,741
Accounts receivable, net	—		—		—		5,591		—			5,591
Inventories, net	—		155		—		3,361		(178		)	3,338
Intercompany receivable	63		—		—		12,618		(12,681		)	—
Prepaid expenses and other current assets	10		227		—		1,628		—			1,865
Current assets held for sale	—		—		—		371		—			371
Total current assets	73		427		5		37,227		(12,859		)	24,873
Property, plant and equipment, net	—		1,311		—		3,050		—			4,361
Goodwill	—		—		—		38,515		—			38,515
Other intangible assets, net	—		20		—		23,387		—			23,407
Tax assets	—		727		—		782		—			1,509
Investment in subsidiaries	55,833		71,931		52,618		—		(180,382		)	—
Intercompany loans receivable	3,000		12,162		16,114		32,774		(64,050		)	—
Other assets	—		434		—		798		—			1,232
Noncurrent assets held for sale	—		—		—		5,919		—			5,919
Total assets	$	58,906	$	87,012	$	68,737	$	142,452	$	(257,291	)	$	99,816
LIABILITIES AND EQUITY
Current liabilities:
Current debt obligations	$	—	$	5,000	$	901	$	1,619	$	—		$	7,520
Accounts payable	—		304		—		1,427		—			1,731
Intercompany payable	12		12,669		—		—		(12,681		)	—
Accrued compensation	9		734		—		1,117		—			1,860
Accrued income taxes	13		—		—		620		—			633
Other accrued expenses	—		352		4		2,086		—			2,442
Current liabilities held for sale	—		—		—		34		—			34
Total current liabilities	34		19,059		905		6,903		(12,681		)	14,220
Long-term debt	—		21,782		1,842		2,297		—			25,921
Accrued compensation and retirement benefits	—		1,120		—		521		—			1,641
Accrued income taxes	10		1,658		—		737		—			2,405
Intercompany loans payable	8,568		13,151		17,160		25,171		(64,050		)	—
Deferred tax liabilities	—		—		—		2,978		—			2,978
Other liabilities	—		153		—		1,362		—			1,515
Noncurrent liabilities held for sale	—		—		—		720		—			720
Total liabilities	8,612		56,923		19,907		40,689		(76,731		)	49,400
Shareholders’ equity	50,294		30,089		48,830		101,641		(180,560		)	50,294
Noncontrolling interests	—		—		—		122		—			122
Total equity	50,294		30,089		48,830		101,763		(180,560		)	50,416
Total liabilities and equity	$	58,906	$	87,012	$	68,737	$	142,452	$	(257,291	)	$	99,816

Condensed Consolidating Balance Sheet

April 29, 2016

Medtronic Senior Notes



(in millions)	Medtronic plc		Medtronic, Inc.		Medtronic Luxco		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, net	—		162		—		3,511		(200		)	3,473
Intercompany receivable	403		141,368		—		162,278		(304,049		)	—
Prepaid expenses and other current assets	24		271		—		1,636		—			1,931
Total current assets	427		141,856		—		185,566		(304,249		)	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
Tax assets	—		690		—		693		—			1,383
Investment in subsidiaries	52,608		68,903		49,698		—		(171,209		)	—
Intercompany loans receivable	3,000		8,884		10,203		18,140		(40,227		)	—
Other assets	—		506		—		915		—			1,421
Total assets	$	56,035	$	222,009	$	59,901	$	277,384	$	(515,685	)	$	99,644
LIABILITIES AND EQUITY
Current liabilities:
Current debt obligations	$	—	$	500	$	—	$	493	$	—		$	993
Accounts payable	—		288		—		1,421		—			1,709
Intercompany payable	—		151,687		—		152,362		(304,049		)	—
Accrued compensation	32		616		—		1,064		—			1,712
Accrued income taxes	11		—		—		555		—			566
Other accrued expenses	1		243		—		1,941		—			2,185
Total current liabilities	44		153,334		—		157,836		(304,049		)	7,165
Long-term debt	—		26,646		—		3,463		—			30,109
Accrued compensation and retirement benefits	—		1,258		—		501		—			1,759
Accrued income taxes	10		1,422		—		1,471		—			2,903
Intercompany loans payable	3,918		10,128		14,297		11,884		(40,227		)	—
Deferred tax liabilities	—		—		—		3,729		—			3,729
Other liabilities	—		202		—		1,714		—			1,916
Total liabilities	3,972		192,990		14,297		180,598		(344,276		)	47,581
Total equity	52,063		29,019		45,604		96,786		(171,409		)	52,063
Total liabilities and equity	$	56,035	$	222,009	$	59,901	$	277,384	$	(515,685	)	$	99,644

Condensed Consolidating Balance Sheet

April 28, 2017

CIFSA Senior Notes



(in millions)	Medtronic plc		CIFSA		CIFSA Subsidiary Guarantors		Subsidiary Non-guarantors		Consolidating Adjustments			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	33	$	5	$	4,929	$	—		$	4,967
Investments	—		—		—		8,741		—			8,741
Accounts receivable, net	—		—		—		5,591		—			5,591
Inventories, net	—		—		—		3,338		—			3,338
Intercompany receivable	63		—		60		12		(135		)	—
Prepaid expenses and other current assets	10		—		—		1,855		—			1,865
Current assets held for sale	—		—		—		371		—			371
Total current assets	73		33		65		24,837		(135		)	24,873
Property, plant and equipment, net	—		—		—		4,361		—			4,361
Goodwill	—		—		—		38,515		—			38,515
Other intangible assets, net	—		—		—		23,407		—			23,407
Tax assets	—		—		—		1,509		—			1,509
Investment in subsidiaries	55,833		31,033		51,294		—		(138,160		)	—
Intercompany loans receivable	3,000		2,978		17,383		17,260		(40,621		)	—
Other assets	—		—		—		1,232		—			1,232
Noncurrent assets held for sale	—		—		—		5,919		—			5,919
Total assets	$	58,906	$	34,044	$	68,742	$	117,040	$	(178,916	)	$	99,816
LIABILITIES AND EQUITY
Current liabilities:
Current debt obligations	$	—	$	1,176	$	901	$	5,443	$	—		$	7,520
Accounts payable	—		—		—		1,731		—			1,731
Intercompany payable	12		—		—		123		(135		)	—
Accrued compensation	9		—		—		1,851		—			1,860
Accrued income taxes	13		—		—		620		—			633
Other accrued expenses	—		23		8		2,411		—			2,442
Current liabilities held for sale	—		—		—		34		—			34
Total current liabilities	34		1,199		909		12,213		(135		)	14,220
Long-term debt	—		2,133		1,842		21,946		—			25,921
Accrued compensation and retirement benefits	—		—		—		1,641		—			1,641
Accrued income taxes	10		—		—		2,395		—			2,405
Intercompany loans payable	8,568		1,369		17,161		13,523		(40,621		)	—
Deferred tax liabilities	—		—		—		2,978		—			2,978
Other liabilities	—		—		—		1,515		—			1,515
Noncurrent liabilities held for sale	—		—		—		720		—			720
Total liabilities	8,612		4,701		19,912		56,931		(40,756		)	49,400
Shareholders’ equity	50,294		29,343		48,830		59,987		(138,160		)	50,294
Noncontrolling interests	—		—		—		122		—			122
Total equity	50,294		29,343		48,830		60,109		(138,160		)	50,416
Total liabilities and equity	$	58,906	$	34,044	$	68,742	$	117,040	$	(178,916	)	$	99,816

Condensed Consolidating Balance Sheet

April 29, 2016

CIFSA Senior Notes



(in millions)	Medtronic plc		CIFSA		CIFSA Subsidiary Guarantors		Subsidiary Non-guarantors		Consolidating Adjustments			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	208	$	—	$	2,668	$	—		$	2,876
Investments	—		—		—		9,758		—			9,758
Accounts receivable, net	—		—		—		5,562		—			5,562
Inventories, net	—		—		—		3,473		—			3,473
Intercompany receivable	403		—		61		—		(464		)	—
Prepaid expenses and other current assets	24		—		—		1,907		—			1,931
Total current assets	427		208		61		23,368		(464		)	23,600
Property, plant and equipment, net	—		—		1		4,840		—			4,841
Goodwill	—		—		—		41,500		—			41,500
Other intangible assets, net	—		—		—		26,899		—			26,899
Tax assets	—		—		—		1,383		—			1,383
Investment in subsidiaries	52,608		36,476		48,375		—		(137,459		)	—
Intercompany loans receivable	3,000		8,253		11,465		27,724		(50,442		)	—
Other assets	—		—		—		1,421		—			1,421
Total assets	$	56,035	$	44,937	$	59,902	$	127,135	$	(188,365	)	$	99,644
LIABILITIES AND EQUITY
Current liabilities:
Current debt obligations	$	—	$	—	$	—	$	993	$	—		$	993
Accounts payable	—		—		—		1,709		—			1,709
Intercompany payable	—		—		—		464		(464		)	—
Accrued compensation	32		—		—		1,680		—			1,712
Accrued income taxes	11		—		—		555		—			566
Other accrued expenses	1		24		—		2,160		—			2,185
Total current liabilities	44		24		—		7,561		(464		)	7,165
Long-term debt	—		3,382		—		26,727		—			30,109
Accrued compensation and retirement benefits	—		—		—		1,759		—			1,759
Accrued income taxes	10		—		—		2,893		—			2,903
Intercompany loans payable	3,918		14,689		14,298		17,537		(50,442		)	—
Deferred tax liabilities	—		—		—		3,729		—			3,729
Other liabilities	—		—		—		1,916		—			1,916
Total liabilities	3,972		18,095		14,298		62,122		(50,906		)	47,581
Total equity	52,063		26,842		45,604		65,013		(137,459		)	52,063
Total liabilities and equity	$	56,035	$	44,937	$	59,902	$	127,135	$	(188,365	)	$	99,644

Condensed Consolidating Statement of Cash Flows

Fiscal Year Ended April 28, 2017

Medtronic Senior Notes and Medtronic Luxco Senior Notes



(in millions)	Medtronic plc			Medtronic, Inc.			Medtronic Luxco			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Operating Activities:
Net cash provided by operating activities	$	842		$	1,902		$	302		$	4,721		$	(887	)	$	6,880
Investing Activities:
Acquisitions, net of cash acquired	—			(940		)	—			(384		)	—			(1,324		)
Additions to property, plant, and equipment	—			(369		)	—			(885		)	—			(1,254		)
Purchases of investments	—			—			—			(4,533		)	162			(4,371		)
Sales and maturities of investments	—			210			—			5,308			(162		)	5,356
Net (increase) decrease in intercompany loans receivable	—			(3,278		)	(5,911		)	(4,624		)	13,813			—
Capital contributions paid	—			(248		)	—			—			248			—
Other investing activities, net	—			—			—			22			—			22
Net cash (used in) provided by investing activities	—			(4,625		)	(5,911		)	(5,096		)	14,061			(1,571		)
Financing Activities:
Acquisition-related contingent consideration	—			—			—			(69		)	—			(69		)
Change in current debt obligations, net	—			—			901			5			—			906
Repayment of short-term borrowings (maturities greater than 90 days)	—			—			—			(2		)	—			(2		)
Proceeds from short-term borrowings (maturities greater than 90 days)	—			—			—			12			—			12
Issuance of long-term debt	—			150			1,850			140			—			2,140
Payments on long-term debt	—			(500		)	—			(363		)	—			(863		)
Dividends to shareholders	(2,376		)	—			—			—			—			(2,376		)
Issuance of ordinary shares	428			—			—			—			—			428
Repurchase of ordinary shares	(3,544		)	—			—			—			—			(3,544		)
Net intercompany loan borrowings (repayments)	4,650			3,023			2,863			3,277			(13,813		)	—
Intercompany dividends paid	—			—			—			(887		)	887			—
Capital contributions received	—			—			—			248			(248		)	—
Other financing activities	—			40			—			45			—			85
Net cash (used in) provided by financing activities	(842		)	2,713			5,614			2,406			(13,174		)	(3,283		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			65			—			65
Net change in cash and cash equivalents	—			(10		)	5			2,096			—			2,091
Cash and cash equivalents at beginning of period	—			55			—			2,821			—			2,876
Cash and cash equivalents at end of period	$	—		$	45		$	5		$	4,917		$	—		$	4,967

Condensed Consolidating Statement of Cash Flows

Fiscal Year Ended April 29, 2016

Medtronic Senior Notes



(in millions)	Medtronic plc			Medtronic, Inc.			Medtronic Luxco			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Operating Activities:
Net cash provided by operating activities	$	297		$	402		$	696		$	4,635		$	(812	)	$	5,218
Investing Activities:
Acquisitions, net of cash acquired	—			(526		)	—			(687		)	—			(1,213		)
Additions to property, plant, and equipment	—			(334		)	—			(712		)	—			(1,046		)
Purchases of investments	—			—			—			(5,406		)	—			(5,406		)
Sales and maturities of investments	—			—			—			9,924			—			9,924
Net (increase) decrease in intercompany loans receivable	—			(2,368		)	(203		)	(7,921		)	10,492			—
Capital contributions paid	—			(11		)	(4,959		)	(4,900		)	9,870			—
Other investing activities, net	—			—			—			(14		)	—			(14		)
Net cash (used in) provided by investing activities	—			(3,239		)	(5,162		)	(9,716		)	20,362			2,245
Financing Activities:
Acquisition-related contingent consideration	—			—			—			(22		)	—			(22		)
Change in current debt obligations, net	—			—			—			7			—			7
Repayment of short-term borrowings (maturities greater than 90 days)	—			—			(139		)	—			—			(139		)
Proceeds from short-term borrowings (maturities greater than 90 days)	—			—			139			—			—			139
Payments on long-term debt	—			(2,988		)	—			(2,144		)	—			(5,132		)
Dividends to shareholders	(2,139		)	—			—			—			—			(2,139		)
Issuance of ordinary shares	491			—			—			—			—			491
Repurchase of ordinary shares	(2,830		)	—			—			—			—			(2,830		)
Net intercompany loan borrowings (repayments)	3,918			(91		)	4,296			2,369			(10,492		)	—
Intercompany dividends paid	—			—			—			(812		)	812			—
Capital contributions received	—			4,900			—			4,970			(9,870		)	—
Other financing activities	—			—			—			82			—			82
Net cash (used in) provided by financing activities	(560		)	1,821			4,296			4,450			(19,550		)	(9,543		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			113			—			113
Net change in cash and cash equivalents	(263		)	(1,016		)	(170		)	(518		)	—			(1,967		)
Cash and cash equivalents at beginning of period	263			1,071			170			3,339			—			4,843
Cash and cash equivalents at end of period	$	—		$	55		$	—		$	2,821		$	—		$	2,876

Condensed Consolidating Statement of Cash Flows

Fiscal Year Ended April 24, 2015

Medtronic Senior Notes



(in millions)	Medtronic plc			Medtronic, Inc.			Medtronic Luxco		Subsidiary Non-guarantors			Consolidating Adjustments			Total
Operating Activities:
Net cash provided by operating activities	$	26		$	1,479		$	170	$	3,640		$	(413	)	$	4,902
Investing Activities:
Acquisitions, net of cash acquired	(9,700		)	(65		)	—		(5,119		)	—			(14,884		)
Additions to property, plant, and equipment	—			(187		)	—		(384		)	—			(571		)
Purchases of investments	—			—			—		(7,582		)	—			(7,582		)
Sales and maturities of investments	—			—			—		5,890			—			5,890
Net (increase) decrease in intercompany loans receivable	—			(16,996		)	—		53			16,943			—
Other investing activities, net	—			—			—		89			—			89
Net cash (used in) provided by investing activities	(9,700		)	(17,248		)	—		(7,053		)	16,943			(17,058		)
Financing Activities:
Acquisition-related contingent consideration	—			—			—		(85		)	—			(85		)
Change in current debt obligations, net	—			—			—		(1		)	—			(1		)
Repayment of short-term borrowings (maturities greater than 90 days)	—			(150		)	—		—			—			(150		)
Proceeds from short-term borrowings (maturities greater than 90 days)	—			150			—		—			—			150
Issuance of long-term debt	—			19,942			—		—			—			19,942
Payments on long-term debt	—			(1,268		)	—		—			—			(1,268		)
Dividends to shareholders	(435		)	(902		)	—		—			—			(1,337		)
Issuance of ordinary shares	172			477			—		—			—			649
Repurchase of ordinary shares	(300		)	(1,620		)	—		—			—			(1,920		)
Net intercompany loan borrowings (repayments)	10,500			(53		)	—		6,496			(16,943		)	—
Intercompany dividends paid	—			—			—		(413		)	413			—
Other financing activities	—			—			—		(31		)	—			(31		)
Net cash (used in) provided by financing activities	9,937			16,576			—		5,966			(16,530		)	15,949
Effect of exchange rate changes on cash and cash equivalents	—			—			—		(353		)	—			(353		)
Net change in cash and cash equivalents	263			807			170		2,200			—			3,440
Cash and cash equivalents at beginning of period	—			264			—		1,139			—			1,403
Cash and cash equivalents at end of period	$	263		$	1,071		$	170	$	3,339		$	—		$	4,843

Condensed Consolidating Statement of Cash Flows

Fiscal Year Ended April 28, 2017

CIFSA Senior Notes



(in millions)	Medtronic plc			CIFSA			CIFSA Subsidiary Guarantors			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Operating Activities:
Net cash provided by operating activities	$	842		$	1,904		$	302		$	5,829		$	(1,997	)	$	6,880
Investing Activities:
Acquisitions, net of cash acquired	—			—			—			(1,324		)	—			(1,324		)
Additions to property, plant, and equipment	—			—			—			(1,254		)	—			(1,254		)
Purchases of investments	—			—			—			(4,371		)	—			(4,371		)
Sales and maturities of investments	—			—			—			5,356			—			5,356
Net (increase) decrease in intercompany loans receivable	—			5,275			(5,911		)	3,956			(3,320		)	—
Capital contributions paid	—			(537		)	—			—			537			—
Other investing activities, net	—			—			—			22			—			22
Net cash (used in) provided by investing activities	—			4,738			(5,911		)	2,385			(2,783		)	(1,571		)
Financing Activities:
Acquisition-related contingent consideration	—			—			—			(69		)	—			(69		)
Change in current debt obligations, net	—			—			901			5			—			906
Repayment of short-term borrowings (maturities greater than 90 days)	—			—			—			(2		)	—			(2		)
Proceeds from short-term borrowings (maturities greater than 90 days)	—			—			—			12			—			12
Issuance of long-term debt	—			—			1,850			290			—			2,140
Payments on long-term debt	—			—			—			(863		)	—			(863		)
Dividends to shareholders	(2,376		)	—			—			—			—			(2,376		)
Issuance of ordinary shares	428			—			—			—			—			428
Repurchase of ordinary shares	(3,544		)	—			—			—			—			(3,544		)
Net intercompany loan borrowings (repayments)	4,650			(6,817		)	2,863			(4,016		)	3,320			—
Intercompany dividend paid	—			—			—			(1,997		)	1,997			—
Capital contributions received	—			—			—			537			(537		)	—
Other financing activities	—			—			—			85			—			85
Net cash (used in) provided by financing activities	(842		)	(6,817		)	5,614			(6,018		)	4,780			(3,283		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			65			—			65
Net change in cash and cash equivalents	—			(175		)	5			2,261			—			2,091
Cash and cash equivalents at beginning of period	—			208			—			2,668			—			2,876
Cash and cash equivalents at end of period	$	—		$	33		$	5		$	4,929		$	—		$	4,967

Condensed Consolidating Statement of Cash Flows

Fiscal Year Ended April 29, 2016

CIFSA Senior Notes



(in millions)	Medtronic plc			CIFSA			CIFSA Subsidiary Guarantors			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Operating Activities:
Net cash provided by operating activities	$	297		$	4,208		$	604		$	4,114		$	(4,005	)	$	5,218
Investing Activities:
Acquisitions, net of cash acquired	—			—			—			(1,266		)	53			(1,213		)
Additions to property, plant, and equipment	—			—			—			(1,046		)	—			(1,046		)
Purchases of investments	—			—			—			(5,406		)	—			(5,406		)
Sales and maturities of investments	—			—			—			9,924			—			9,924
Net (increase) decrease in intercompany loans receivable	—			(8,193		)	(164		)	(3,302		)	11,659			—
Sale of subsidiaries	—			—			53			—			(53		)	—
Capital contributions paid	—			(720		)	(4,959		)	—			5,679			—
Other investing activities, net	—			—			—			(14		)	—			(14		)
Net cash (used in) provided by investing activities	—			(8,913		)	(5,070		)	(1,110		)	17,338			2,245
Financing Activities:
Acquisition-related contingent consideration	—			—			—			(22		)	—			(22		)
Change in current debt obligations, net	—			—			—			7			—			7
Repayment of short-term borrowings (maturities greater than 90 days)	—			—			(139		)	—			—			(139		)
Proceeds from short-term borrowings (maturities greater than 90 days)	—			—			139			—			—			139
Payments on long-term debt	—			(2,121		)	—			(3,011		)	—			(5,132		)
Dividends to shareholders	(2,139		)	—			—			—			—			(2,139		)
Issuance of ordinary shares	491			—			—			—			—			491
Repurchase of ordinary shares	(2,830		)	—			—			—			—			(2,830		)
Net intercompany loan borrowings (repayments)	3,918			6,306			4,296			(2,861		)	(11,659		)	—
Intercompany dividend paid	—			—			—			(4,005		)	4,005			—
Capital contributions received	—			—			—			5,679			(5,679		)	—
Other financing activities	—			—			—			82			—			82
Net cash (used in) provided by financing activities	(560		)	4,185			4,296			(4,131		)	(13,333		)	(9,543		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			113			—			113
Net change in cash and cash equivalents	(263		)	(520		)	(170		)	(1,014		)	—			(1,967		)
Cash and cash equivalents at beginning of period	263			728			170			3,682			—			4,843
Cash and cash equivalents at end of period	$	—		$	208		$	—		$	2,668		$	—		$	2,876

Condensed Consolidating Statement of Cash Flows

Fiscal Year Ended April 24, 2015

CIFSA Senior Notes



(in millions)	Medtronic plc			CIFSA			CIFSA Subsidiary Guarantors			Subsidiary Non-guarantors			Consolidating Adjustments			Total
Operating Activities:
Net cash provided by operating activities	$	26		$	1,238		$	142		$	4,596		$	(1,100	)	$	4,902
Investing Activities:
Acquisitions, net of cash acquired	(9,700		)	440			—			(5,624		)	—			(14,884		)
Additions to property, plant, and equipment	—			—			(1		)	(570		)	—			(571		)
Purchases of investments	—			—			—			(7,582		)	—			(7,582		)
Sales and maturities of investments	—			—			—			5,890			—			5,890
Net (increase) decrease in intercompany loans receivable	—			(59		)	29			(10,626		)	10,656			—
Capital contributions paid	—			(937		)	—			—			937			—
Other investing activities, net	—			—			—			89			—			89
Net cash (used in) provided by investing activities	(9,700		)	(556		)	28			(18,423		)	11,593			(17,058		)
Financing Activities:
Acquisition-related contingent consideration	—			—			—			(85		)	—			(85		)
Change in current debt obligations, net	—			—			—			(1		)	—			(1		)
Repayment of short-term borrowings (maturities greater than 90 days)	—			—			(150		)	—			—			(150		)
Proceeds from short-term borrowings (maturities greater than 90 days)	—			—			150			—			—			150
Issuance of long-term debt	—			—			—			19,942			—			19,942
Payments on long-term debt	—			(51		)	—			(1,217		)	—			(1,268		)
Dividends to shareholders	(435		)	—			—			(902		)	—			(1,337		)
Issuance of ordinary shares	172			—			—			477			—			649
Repurchase of ordinary shares	(300		)	—			—			(1,620		)	—			(1,920		)
Net intercompany loan borrowings (repayments)	10,500			97			—			59			(10,656		)	—
Intercompany dividend paid	—			—			—			(1,100		)	1,100			—
Capital contributions received	—			—			—			937			(937		)	—
Other financing activities	—			—			—			(31		)	—			(31		)
Net cash (used in) provided by financing activities	9,937			46			—			16,459			(10,493		)	15,949
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(353		)	—			(353		)
Net change in cash and cash equivalents	263			728			170			2,279			—			3,440
Cash and cash equivalents at beginning of period	—			—			—			1,403			—			1,403
Cash and cash equivalents at end of period	$	263		$	728		$	170		$	3,682		$	—		$	4,843