XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Guarantor Financial Information | 3 Months Ended
--- | ---
Jul. 28, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Guarantor Financial Information | Guarantor Financial Information Medtronic plc and Medtronic Global Holdings S.C.A. (Medtronic Luxco), a wholly-owned subsidiary guarantor, each have provided full and unconditional guarantees of the obligations of Medtronic, Inc. under the Senior Notes (Medtronic Senior Notes) and full and unconditional guarantees of the obligations of Covidien International Finance S.A. (CIFSA) under the Senior Notes (CIFSA Senior Notes). The guarantees of the CIFSA Senior Notes are in addition to the guarantees of the CIFSA Senior Notes by Covidien Ltd. and Covidien Group Holdings Ltd., both of which are wholly-owned subsidiary guarantors of the CIFSA Senior Notes. Effective March 28, 2017, Medtronic plc and Medtronic, Inc. each provided a full and unconditional guarantee of the obligations of Medtronic Luxco under the Medtronic Luxco Senior Notes. The following is a summary of these guarantees: Guarantees of Medtronic Senior Notes
• | Parent Company Guarantor - Medtronic plc
• | Subsidiary Issuer - Medtronic, Inc.
• | Subsidiary Guarantor - Medtronic Luxco
Guarantees of Medtronic Luxco Senior Notes
• | Parent Company Guarantor - Medtronic plc
• | Subsidiary Issuer - Medtronic Luxco
• | Subsidiary Guarantor - Medtronic, Inc.
Guarantees of CIFSA Senior Notes
• | Parent Company Guarantor - Medtronic plc
• | Subsidiary Issuer - CIFSA
• | Subsidiary Guarantors - Medtronic Luxco, Covidien Ltd., and Covidien Group Holdings Ltd. (CIFSA Subsidiary Guarantors)
The following presents the Company’s consolidating statements of comprehensive income for the three months ended July 28, 2017 and July 29, 2016, condensed consolidating balance sheets at July 28, 2017 and April 28, 2017, and condensed consolidating statements of cash flows for the three months ended July 28, 2017 and July 29, 2016. The guarantees provided by the parent company guarantor and subsidiary guarantors are joint and several. Condensed consolidating financial information for Medtronic plc, Medtronic Luxco, Medtronic, Inc., CIFSA, and CIFSA Subsidiary Guarantors, on a stand-alone basis, is presented using the equity method of accounting for subsidiaries. During the first quarter of fiscal year 2018, the Company undertook certain steps to reorganize ownership of various subsidiaries. The transactions were entirely among subsidiaries under the common control of Medtronic. This reorganization has been reflected as of the beginning of the earliest period presented. Consolidating Statement of Comprehensive Income Three Months Ended July 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 | $ | — |  |  | $ | 303 |  |  | $ | — |  |  | $ | 7,390 |  |  | $ | (303 | ) |  | $ | 7,390 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of products sold | — |  |  | 222 |  |  | — |  |  | 2,433 |  |  | (306 | ) |  | 2,349 |
Research and development expense | — |  |  | 158 |  |  | — |  |  | 390 |  |  | — |  |  | 548 |
Selling, general, and administrative expense | 3 |  |  | 301 |  |  | — |  |  | 2,181 |  |  | — |  |  | 2,485 |
Restructuring charges, net | — |  |  | 1 |  |  | — |  |  | 7 |  |  | — |  |  | 8 |
Acquisition-related items | — |  |  | 29 |  |  | — |  |  | 15 |  |  | — |  |  | 44 |
Divestiture-related items | — |  |  | 9 |  |  | — |  |  | 38 |  |  | — |  |  | 47 |
Amortization of intangible assets | — |  |  | 2 |  |  | — |  |  | 452 |  |  | — |  |  | 454 |
Other (income) expense, net | 13 |  |  | (477 | ) |  | — |  |  | 530 |  |  | — |  |  | 66 |
Operating profit (loss) | (16 | ) |  | 58 |  |  | — |  |  | 1,344 |  |  | 3 |  |  | 1,389 |
Interest income | — |  |  | (71 | ) |  | (110 | ) |  | (334 | ) |  | 423 |  |  | (92 | )
Interest expense | 49 |  |  | 441 |  |  | 35 |  |  | 184 |  |  | (423 | ) |  | 286 |
Interest expense (income), net | 49 |  |  | 370 |  |  | (75 | ) |  | (150 | ) |  | — |  |  | 194 |
Equity in net (income) loss of subsidiaries | (1,079 | ) |  | (815 | ) |  | (1,004 | ) |  | — |  |  | 2,898 |  |  | — |
Income from operations before income taxes | 1,014 |  |  | 503 |  |  | 1,079 |  |  | 1,494 |  |  | (2,895 | ) |  | 1,195 |
Provision (benefit) for income taxes | (2 | ) |  | (77 | ) |  | — |  |  | 265 |  |  | — |  |  | 186 |
Net income | 1,016 |  |  | 580 |  |  | 1,079 |  |  | 1,229 |  |  | (2,895 | ) |  | 1,009 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Net income attributable to Medtronic | 1,016 |  |  | 580 |  |  | 1,079 |  |  | 1,236 |  |  | (2,895 | ) |  | 1,016 |
Other comprehensive income (loss), net of tax | 689 |  |  | (7 | ) |  | 689 |  |  | 680 |  |  | (1,362 | ) |  | 689 |
Other comprehensive loss attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Total comprehensive income | $ | 1,705 |  |  | $ | 573 |  |  | $ | 1,768 |  |  | $ | 1,916 |  |  | $ | (4,257 | ) |  | $ | 1,705 |
Consolidating Statement of Comprehensive Income Three Months Ended July 29, 2016 Medtronic Senior Notes
(in millions) | Medtronic plc |  | Medtronic, Inc. |  | Medtronic Luxco |  | Subsidiary Non-guarantors |  | Consolidating Adjustments |  | Total
Net sales | $ | — |  |  | $ | 348 |  |  | $ | — |  |  | $ | 7,166 |  |  | $ | (348 | ) |  | $ | 7,166 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of products sold | — |  |  | 250 |  |  | — |  |  | 2,365 |  |  | (354 | ) |  | 2,261 |
Research and development expense | — |  |  | 163 |  |  | — |  |  | 393 |  |  | — |  |  | 556 |
Selling, general, and administrative expense | 3 |  |  | 280 |  |  | — |  |  | 2,145 |  |  | — |  |  | 2,428 |
Restructuring charges, net | — |  |  | 16 |  |  | — |  |  | 78 |  |  | — |  |  | 94 |
Certain litigation charges | — |  |  | — |  |  | — |  |  | 82 |  |  | — |  |  | 82 |
Acquisition-related items | — |  |  | 23 |  |  | — |  |  | 29 |  |  | — |  |  | 52 |
Amortization of intangible assets | — |  |  | 3 |  |  | — |  |  | 484 |  |  | — |  |  | 487 |
Other (income) expense, net | 11 |  |  | (640 | ) |  | — |  |  | 668 |  |  | — |  |  | 39 |
Operating profit (loss) | (14 | ) |  | 253 |  |  | — |  |  | 922 |  |  | 6 |  |  | 1,167 |
Interest income | — |  |  | (60 | ) |  | (156 | ) |  | (282 | ) |  | 405 |  |  | (93 | )
Interest expense | 16 |  |  | 408 |  |  | 1 |  |  | 252 |  |  | (405 | ) |  | 272 |
Interest (income) expense, net | 16 |  |  | 348 |  |  | (155 | ) |  | (30 | ) |  | — |  |  | 179 |
Equity in net (income) loss of subsidiaries | (957 | ) |  | (1,174 | ) |  | (802 | ) |  | — |  |  | 2,933 |  |  | — |
Income from operations before income taxes | 927 |  |  | 1,079 |  |  | 957 |  |  | 952 |  |  | (2,927 | ) |  | 988 |
Provision (benefit) for income taxes | (2 | ) |  | 22 |  |  | — |  |  | 39 |  |  | — |  |  | 59 |
Net income | 929 |  |  | 1,057 |  |  | 957 |  |  | 913 |  |  | (2,927 | ) |  | 929 |
Other comprehensive income (loss), net of tax | (156 | ) |  | 95 |  |  | (156 | ) |  | (172 | ) |  | 233 |  |  | (156 | )
Total comprehensive income | $ | 773 |  |  | $ | 1,152 |  |  | $ | 801 |  |  | $ | 741 |  |  | $ | (2,694 | ) |  | $ | 773 |
Condensed Consolidating Balance Sheet July 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 | $ | — |  |  | $ | 63 |  |  | $ | 29 |  |  | $ | 4,599 |  |  | $ | — |  |  | $ | 4,691 |
Investments | — |  |  | — |  |  | — |  |  | 8,397 |  |  | — |  |  | 8,397 |
Accounts receivable, net | — |  |  | — |  |  | — |  |  | 5,784 |  |  | — |  |  | 5,784 |
Inventories, net | — |  |  | 166 |  |  | — |  |  | 3,547 |  |  | (175 | ) |  | 3,538 |
Intercompany receivable | 94 |  |  | — |  |  | — |  |  | 12,960 |  |  | (13,054 | ) |  | — |
Other current assets | 7 |  |  | 278 |  |  | — |  |  | 1,715 |  |  | — |  |  | 2,000 |
Current assets held for sale | — |  |  | — |  |  | — |  |  | 369 |  |  | — |  |  | 369 |
Total current assets | 101 |  |  | 507 |  |  | 29 |  |  | 37,371 |  |  | (13,229 | ) |  | 24,779 |
Property, plant, and equipment, net | — |  |  | 1,325 |  |  | — |  |  | 3,062 |  |  | — |  |  | 4,387 |
Goodwill | — |  |  | — |  |  | — |  |  | 39,196 |  |  | — |  |  | 39,196 |
Other intangible assets, net | — |  |  | 17 |  |  | — |  |  | 22,989 |  |  | — |  |  | 23,006 |
Tax assets | — |  |  | 809 |  |  | — |  |  | 789 |  |  | — |  |  | 1,598 |
Investment in subsidiaries | 57,874 |  |  | 72,950 |  |  | 54,584 |  |  | — |  |  | (185,408 | ) |  | — |
Intercompany loans receivable | 3,000 |  |  | 11,731 |  |  | 18,121 |  |  | 28,694 |  |  | (61,546 | ) |  | — |
Other assets | — |  |  | 452 |  |  | — |  |  | 832 |  |  | — |  |  | 1,284 |
Noncurrent assets held for sale | — |  |  | — |  |  | — |  |  | 6,000 |  |  | — |  |  | 6,000 |
Total assets | $ | 60,975 |  |  | $ | 87,791 |  |  | $ | 72,734 |  |  | $ | 138,933 |  |  | $ | (260,183 | ) |  | $ | 100,250 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Current debt obligations | $ | — |  |  | $ | 5,000 |  |  | $ | 1,473 |  |  | $ | 1,585 |  |  | $ | — |  |  | $ | 8,058 |
Accounts payable | — |  |  | 347 |  |  | — |  |  | 1,412 |  |  | — |  |  | 1,759 |
Intercompany payable | 13 |  |  | 13,041 |  |  | — |  |  | — |  |  | (13,054 | ) |  | — |
Accrued compensation | 7 |  |  | 454 |  |  | — |  |  | 843 |  |  | — |  |  | 1,304 |
Accrued income taxes | 13 |  |  | — |  |  | — |  |  | 704 |  |  | — |  |  | 717 |
Other accrued expenses | 1 |  |  | 506 |  |  | 16 |  |  | 2,728 |  |  | — |  |  | 3,251 |
Current liabilities held for sale | — |  |  | — |  |  | — |  |  | 59 |  |  | — |  |  | 59 |
Total current liabilities | 34 |  |  | 19,348 |  |  | 1,489 |  |  | 7,331 |  |  | (13,054 | ) |  | 15,148 |
Long-term debt | — |  |  | 21,789 |  |  | 1,841 |  |  | 2,323 |  |  | — |  |  | 25,953 |
Accrued compensation and retirement benefits | — |  |  | 1,116 |  |  | — |  |  | 547 |  |  | — |  |  | 1,663 |
Accrued income taxes | 10 |  |  | 1,582 |  |  | — |  |  | 578 |  |  | — |  |  | 2,170 |
Intercompany loans payable | 10,259 |  |  | 13,161 |  |  | 18,533 |  |  | 19,593 |  |  | (61,546 | ) |  | — |
Deferred tax liabilities | — |  |  | — |  |  | — |  |  | 2,610 |  |  | — |  |  | 2,610 |
Other liabilities | — |  |  | 154 |  |  | — |  |  | 872 |  |  | — |  |  | 1,026 |
Noncurrent liabilities held for sale | — |  |  | — |  |  | — |  |  | 893 |  |  | — |  |  | 893 |
Total liabilities | 10,303 |  |  | 57,150 |  |  | 21,863 |  |  | 34,747 |  |  | (74,600 | ) |  | 49,463 |
Shareholders’ equity | 50,672 |  |  | 30,641 |  |  | 50,871 |  |  | 104,071 |  |  | (185,583 | ) |  | 50,672 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 115 |  |  | — |  |  | 115 |
Total equity | 50,672 |  |  | 30,641 |  |  | 50,871 |  |  | 104,186 |  |  | (185,583 | ) |  | 50,787 |
Total liabilities and equity | $ | 60,975 |  |  | $ | 87,791 |  |  | $ | 72,734 |  |  | $ | 138,933 |  |  | $ | (260,183 | ) |  | $ | 100,250 |
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 | ) |  | — |
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 |  |  | 71,909 |  |  | 52,618 |  |  | — |  |  | (180,360 | ) |  | — |
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 |  |  | $ | 86,990 |  |  | $ | 68,737 |  |  | $ | 142,452 |  |  | $ | (257,269 | ) |  | $ | 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 |  |  | 30,067 |  |  | 48,830 |  |  | 101,641 |  |  | (180,538 | ) |  | 50,294 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 122 |  |  | — |  |  | 122 |
Total equity | 50,294 |  |  | 30,067 |  |  | 48,830 |  |  | 101,763 |  |  | (180,538 | ) |  | 50,416 |
Total liabilities and equity | $ | 58,906 |  |  | $ | 86,990 |  |  | $ | 68,737 |  |  | $ | 142,452 |  |  | $ | (257,269 | ) |  | $ | 99,816 |
Condensed Consolidating Statement of Cash Flows Three Months Ended July 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 (used in) operating activities | $ | 24 |  |  | $ | (355 | ) |  | $ | 86 |  |  | $ | 982 |  |  | $ | — |  |  | $ | 737 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Additions to property, plant, and equipment | — |  |  | (68 | ) |  | — |  |  | (210 | ) |  | — |  |  | (278 | )
Purchases of investments | — |  |  | — |  |  | — |  |  | (615 | ) |  | — |  |  | (615 | )
Sales and maturities of investments | — |  |  | — |  |  | — |  |  | 971 |  |  | — |  |  | 971 |
Net (increase) decrease in intercompany loans | — |  |  | 431 |  |  | (2,007 | ) |  | 4,080 |  |  | (2,504 | ) |  | — |
Other investing activities, net | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Net cash provided by (used in) investing activities | — |  |  | 363 |  |  | (2,007 | ) |  | 4,231 |  |  | (2,504 | ) |  | 83 |
Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition-related contingent consideration | — |  |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Change in current debt obligations, net | — |  |  | — |  |  | 572 |  |  | (3 | ) |  | — |  |  | 569 |
Issuance of long-term debt | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Payments on long-term debt | — |  |  | — |  |  | — |  |  | (8 | ) |  | — |  |  | (8 | )
Dividends to shareholders | (625 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (625 | )
Issuance of ordinary shares | 143 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 143 |
Repurchase of ordinary shares | (1,233 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,233 | )
Net intercompany loan borrowings (repayments) | 1,691 |  |  | 10 |  |  | 1,373 |  |  | (5,578 | ) |  | 2,504 |  |  | — |
Intercompany dividend paid | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other financing activities | — |  |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Net cash provided by (used in) financing activities | (24 | ) |  | 10 |  |  | 1,945 |  |  | (5,576 | ) |  | 2,504 |  |  | (1,141 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | 45 |  |  | — |  |  | 45 |
Net change in cash and cash equivalents | — |  |  | 18 |  |  | 24 |  |  | (318 | ) |  | — |  |  | (276 | )
Cash and cash equivalents at beginning of period | — |  |  | 45 |  |  | 5 |  |  | 4,917 |  |  | — |  |  | 4,967 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | 63 |  |  | $ | 29 |  |  | $ | 4,599 |  |  | $ | — |  |  | $ | 4,691 |
Condensed Consolidating Statement of Cash Flows Three Months Ended July 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 (used in) operating activities | $ | 440 |  |  | $ | 534 |  |  | $ | 13 |  |  | $ | 563 |  |  | $ | — |  |  | $ | 1,550 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired | — |  |  | — |  |  | — |  |  | (12 | ) |  | — |  |  | (12 | )
Additions to property, plant, and equipment | — |  |  | — |  |  | — |  |  | (330 | ) |  | — |  |  | (330 | )
Purchases of investments | — |  |  | — |  |  | — |  |  | (1,206 | ) |  | 162 |  |  | (1,044 | )
Sales and maturities of investments | — |  |  | 162 |  |  | — |  |  | 1,104 |  |  | (162 | ) |  | 1,104 |
Net (increase) decrease in intercompany loans | — |  |  | (541 | ) |  | (1,787 | ) |  | (785 | ) |  | 3,113 |  |  | — |
Capital contribution paid | — |  |  | (162 | ) |  | — |  |  | — |  |  | 162 |  |  | — |
Other investing activities, net | — |  |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Net cash provided by (used in) investing activities | — |  |  | (541 | ) |  | (1,787 | ) |  | (1,231 | ) |  | 3,275 |  |  | (284 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition-related contingent consideration | — |  |  | — |  |  | — |  |  | (11 | ) |  | — |  |  | (11 | )
Change in current debt obligations, net | — |  |  | — |  |  | 975 |  |  | (49 | ) |  | — |  |  | 926 |
Issuance of long-term debt | — |  |  | — |  |  | — |  |  | 33 |  |  | — |  |  | 33 |
Payments on long-term debt | — |  |  | — |  |  | — |  |  | (17 | ) |  | — |  |  | (17 | )
Dividends to shareholders | (599 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (599 | )
Issuance of ordinary shares | 214 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 214 |
Repurchase of ordinary shares | (1,763 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,763 | )
Net intercompany loan borrowings (repayments) | 1,708 |  |  | (2 | ) |  | 854 |  |  | 553 |  |  | (3,113 | ) |  | — |
Capital contribution received | — |  |  | — |  |  | — |  |  | 162 |  |  | (162 | ) |  | — |
Other financing activities | — |  |  | — |  |  | — |  |  | 57 |  |  | — |  |  | 57 |
Net cash provided by (used in) financing activities | (440 | ) |  | (2 | ) |  | 1,829 |  |  | 728 |  |  | (3,275 | ) |  | (1,160 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | 78 |  |  | — |  |  | 78 |
Net change in cash and cash equivalents | — |  |  | (9 | ) |  | 55 |  |  | 138 |  |  | — |  |  | 184 |
Cash and cash equivalents at beginning of period | — |  |  | 55 |  |  | — |  |  | 2,821 |  |  | — |  |  | 2,876 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | 46 |  |  | $ | 55 |  |  | $ | 2,959 |  |  | $ | — |  |  | $ | 3,060 |
Consolidating Statement of Comprehensive Income Three Months Ended July 28, 2017 CIFSA Senior Notes
(in millions) | Medtronic plc |  | CIFSA |  | CIFSA Subsidiary Guarantors |  | Subsidiary Non-guarantors |  | Consolidating Adjustments |  | Total
Net sales | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7,390 |  |  | $ | — |  |  | $ | 7,390 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of products sold | — |  |  | — |  |  | — |  |  | 2,349 |  |  | — |  |  | 2,349 |
Research and development expense | — |  |  | — |  |  | — |  |  | 548 |  |  | — |  |  | 548 |
Selling, general, and administrative expense | 3 |  |  | — |  |  | — |  |  | 2,482 |  |  | — |  |  | 2,485 |
Restructuring charges, net | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Acquisition-related items | — |  |  | — |  |  | — |  |  | 44 |  |  | — |  |  | 44 |
Divestiture-related items | — |  |  | — |  |  | — |  |  | 47 |  |  | — |  |  | 47 |
Amortization of intangible assets | — |  |  | — |  |  | — |  |  | 454 |  |  | — |  |  | 454 |
Other (income) expense, net | 13 |  |  | 1 |  |  | — |  |  | 52 |  |  | — |  |  | 66 |
Operating profit (loss) | (16 | ) |  | (1 | ) |  | — |  |  | 1,406 |  |  | — |  |  | 1,389 |
Interest income | — |  |  | (16 | ) |  | (112 | ) |  | (112 | ) |  | 148 |  |  | (92 | )
Interest expense | 49 |  |  | 23 |  |  | 35 |  |  | 327 |  |  | (148 | ) |  | 286 |
Interest expense (income), net | 49 |  |  | 7 |  |  | (77 | ) |  | 215 |  |  | — |  |  | 194 |
Equity in net (income) loss of subsidiaries | (1,079 | ) |  | (390 | ) |  | (1,002 | ) |  | — |  |  | 2,471 |  |  | — |
Income from operations before income taxes | 1,014 |  |  | 382 |  |  | 1,079 |  |  | 1,191 |  |  | (2,471 | ) |  | 1,195 |
Provision (benefit) for income taxes | (2 | ) |  | — |  |  | — |  |  | 188 |  |  | — |  |  | 186 |
Net income | 1,016 |  |  | 382 |  |  | 1,079 |  |  | 1,003 |  |  | (2,471 | ) |  | 1,009 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Net income attributable to Medtronic | 1,016 |  |  | 382 |  |  | 1,079 |  |  | 1,010 |  |  | (2,471 | ) |  | 1,016 |
Other comprehensive income (loss), net of tax | 689 |  |  | 94 |  |  | 689 |  |  | 689 |  |  | (1,472 | ) |  | 689 |
Other comprehensive loss attributable to non controlling interests | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Total comprehensive income | $ | 1,705 |  |  | $ | 476 |  |  | $ | 1,768 |  |  | $ | 1,699 |  |  | $ | (3,943 | ) |  | $ | 1,705 |
Consolidating Statement of Comprehensive Income Three Months Ended July 29, 2016 CIFSA Senior Notes
(in millions) | Medtronic plc |  | CIFSA |  | CIFSA Subsidiary Guarantors |  | Subsidiary Non-guarantors |  | Consolidating Adjustments |  | Total
Net sales | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 7,166 |  |  | $ | — |  |  | $ | 7,166 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Cost of products sold | — |  |  | — |  |  | — |  |  | 2,261 |  |  | — |  |  | 2,261 |
Research and development expense | — |  |  | — |  |  | — |  |  | 556 |  |  | — |  |  | 556 |
Selling, general, and administrative expense | 3 |  |  | — |  |  | — |  |  | 2,425 |  |  | — |  |  | 2,428 |
Restructuring charges, net | — |  |  | — |  |  | — |  |  | 94 |  |  | — |  |  | 94 |
Certain litigation charges | — |  |  | — |  |  | — |  |  | 82 |  |  | — |  |  | 82 |
Acquisition-related items | — |  |  | — |  |  | — |  |  | 52 |  |  | — |  |  | 52 |
Amortization of intangible assets | — |  |  | — |  |  | — |  |  | 487 |  |  | — |  |  | 487 |
Other (income) expense, net | 11 |  |  | 1 |  |  | — |  |  | 27 |  |  | — |  |  | 39 |
Operating profit (loss) | (14 | ) |  | (1 | ) |  | — |  |  | 1,182 |  |  | — |  |  | 1,167 |
Interest income | — |  |  | (29 | ) |  | (157 | ) |  | (106 | ) |  | 199 |  |  | (93 | )
Interest expense | 16 |  |  | 32 |  |  | 1 |  |  | 422 |  |  | (199 | ) |  | 272 |
Interest expense (income), net | 16 |  |  | 3 |  |  | (156 | ) |  | 316 |  |  | — |  |  | 179 |
Equity in net (income) loss of subsidiaries | (957 | ) |  | (877 | ) |  | (801 | ) |  | — |  |  | 2,635 |  |  | — |
Income from operations before income taxes | 927 |  |  | 873 |  |  | 957 |  |  | 866 |  |  | (2,635 | ) |  | 988 |
Provision (benefit) for income taxes | (2 | ) |  | — |  |  | — |  |  | 61 |  |  | — |  |  | 59 |
Net income | 929 |  |  | 873 |  |  | 957 |  |  | 805 |  |  | (2,635 | ) |  | 929 |
Other comprehensive income (loss), net of tax | (156 | ) |  | 42 |  |  | (156 | ) |  | (156 | ) |  | 270 |  |  | (156 | )
Total comprehensive income | $ | 773 |  |  | $ | 915 |  |  | $ | 801 |  |  | $ | 649 |  |  | $ | (2,365 | ) |  | $ | 773 |
Condensed Consolidating Balance Sheet July 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 | $ | — |  |  | $ | — |  |  | $ | 30 |  |  | $ | 4,661 |  |  | $ | — |  |  | $ | 4,691 |
Investments | — |  |  | — |  |  | — |  |  | 8,397 |  |  | — |  |  | 8,397 |
Accounts receivable, net | — |  |  | — |  |  | — |  |  | 5,784 |  |  | — |  |  | 5,784 |
Inventories, net | — |  |  | — |  |  | — |  |  | 3,538 |  |  | — |  |  | 3,538 |
Intercompany receivable | 94 |  |  | — |  |  | 60 |  |  | 13 |  |  | (167 | ) |  | — |
Other current assets | 7 |  |  | — |  |  | — |  |  | 1,993 |  |  | — |  |  | 2,000 |
Current assets held for sale | — |  |  | — |  |  | — |  |  | 369 |  |  | — |  |  | 369 |
Total current assets | 101 |  |  | — |  |  | 90 |  |  | 24,755 |  |  | (167 | ) |  | 24,779 |
Property, plant, and equipment, net | — |  |  | — |  |  | — |  |  | 4,387 |  |  | — |  |  | 4,387 |
Goodwill | — |  |  | — |  |  | — |  |  | 39,196 |  |  | — |  |  | 39,196 |
Other intangible assets, net | — |  |  | — |  |  | — |  |  | 23,006 |  |  | — |  |  | 23,006 |
Tax assets | — |  |  | — |  |  | — |  |  | 1,598 |  |  | — |  |  | 1,598 |
Investment in subsidiaries | 57,874 |  |  | 31,684 |  |  | 53,258 |  |  | — |  |  | (142,816 | ) |  | — |
Intercompany loans receivable | 3,000 |  |  | 2,795 |  |  | 19,390 |  |  | 18,634 |  |  | (43,819 | ) |  | — |
Other assets | — |  |  | — |  |  | — |  |  | 1,284 |  |  | — |  |  | 1,284 |
Noncurrent assets held for sale | — |  |  | — |  |  | — |  |  | 6,000 |  |  | — |  |  | 6,000 |
Total assets | $ | 60,975 |  |  | $ | 34,479 |  |  | $ | 72,738 |  |  | $ | 118,860 |  |  | $ | (186,802 | ) |  | $ | 100,250 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |
Current debt obligations | $ | — |  |  | $ | 1,163 |  |  | $ | 1,473 |  |  | $ | 5,422 |  |  | $ | — |  |  | $ | 8,058 |
Accounts payable | — |  |  | — |  |  | — |  |  | 1,759 |  |  | — |  |  | 1,759 |
Intercompany payable | 13 |  |  | — |  |  | — |  |  | 154 |  |  | (167 | ) |  | — |
Accrued compensation | 7 |  |  | — |  |  | — |  |  | 1,297 |  |  | — |  |  | 1,304 |
Accrued income taxes | 13 |  |  | — |  |  | — |  |  | 704 |  |  | — |  |  | 717 |
Other accrued expenses | 1 |  |  | 33 |  |  | 20 |  |  | 3,197 |  |  | — |  |  | 3,251 |
Current liabilities held for sale | — |  |  | — |  |  | — |  |  | 59 |  |  | — |  |  | 59 |
Total current liabilities | 34 |  |  | 1,196 |  |  | 1,493 |  |  | 12,592 |  |  | (167 | ) |  | 15,148 |
Long-term debt | — |  |  | 2,128 |  |  | 1,841 |  |  | 21,984 |  |  | — |  |  | 25,953 |
Accrued compensation and retirement benefits | — |  |  | — |  |  | — |  |  | 1,663 |  |  | — |  |  | 1,663 |
Accrued income taxes | 10 |  |  | — |  |  | — |  |  | 2,160 |  |  | — |  |  | 2,170 |
Intercompany loans payable | 10,259 |  |  | 1,371 |  |  | 18,533 |  |  | 13,656 |  |  | (43,819 | ) |  | — |
Deferred tax liabilities | — |  |  | — |  |  | — |  |  | 2,610 |  |  | — |  |  | 2,610 |
Other liabilities | — |  |  | — |  |  | — |  |  | 1,026 |  |  | — |  |  | 1,026 |
Noncurrent liabilities held for sale | — |  |  | — |  |  | — |  |  | 893 |  |  | — |  |  | 893 |
Total liabilities | 10,303 |  |  | 4,695 |  |  | 21,867 |  |  | 56,584 |  |  | (43,986 | ) |  | 49,463 |
Shareholders’ equity | 50,672 |  |  | 29,784 |  |  | 50,871 |  |  | 62,161 |  |  | (142,816 | ) |  | 50,672 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 115 |  |  | — |  |  | 115 |
Total equity | 50,672 |  |  | 29,784 |  |  | 50,871 |  |  | 62,276 |  |  | (142,816 | ) |  | 50,787 |
Total liabilities and equity | $ | 60,975 |  |  | $ | 34,479 |  |  | $ | 72,738 |  |  | $ | 118,860 |  |  | $ | (186,802 | ) |  | $ | 100,250 |
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 | ) |  | — |
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 |  |  | 31,055 |  |  | 51,294 |  |  | — |  |  | (138,182 | ) |  | — |
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 |  |  | $ | 34,066 |  |  | $ | 68,742 |  |  | $ | 117,040 |  |  | $ | (178,938 | ) |  | $ | 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 |  |  | 29,365 |  |  | 48,830 |  |  | 59,987 |  |  | (138,182 | ) |  | 50,294 |
Noncontrolling interests | — |  |  | — |  |  | — |  |  | 122 |  |  | — |  |  | 122 |
Total Equity | 50,294 |  |  | 29,365 |  |  | 48,830 |  |  | 60,109 |  |  | (138,182 | ) |  | 50,416 |
Total liabilities and equity | $ | 58,906 |  |  | $ | 34,066 |  |  | $ | 68,742 |  |  | $ | 117,040 |  |  | $ | (178,938 | ) |  | $ | 99,816 |
Condensed Consolidating Statement of Cash Flows Three Months Ended July 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 (used in) operating activities | $ | 24 |  |  | $ | 234 |  |  | $ | 88 |  |  | $ | 641 |  |  | $ | (250 | ) |  | $ | 737 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Additions to property, plant, and equipment | — |  |  | — |  |  | — |  |  | (278 | ) |  | — |  |  | (278 | )
Purchases of investments | — |  |  | — |  |  | — |  |  | (615 | ) |  | — |  |  | (615 | )
Sales and maturities of investments | — |  |  | — |  |  | — |  |  | 971 |  |  | — |  |  | 971 |
Net (increase) decrease in intercompany loans | — |  |  | 183 |  |  | (2,007 | ) |  | (1,374 | ) |  | 3,198 |  |  | — |
Capital contribution paid | — |  |  | (452 | ) |  | — |  |  | — |  |  | 452 |  |  | — |
Other investing activities, net | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5 |
Net cash provided by (used in) investing activities | — |  |  | (269 | ) |  | (2,007 | ) |  | (1,291 | ) |  | 3,650 |  |  | 83 |
Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition-related contingent consideration | — |  |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Change in current debt obligations, net | — |  |  | — |  |  | 572 |  |  | (3 | ) |  | — |  |  | 569 |
Issuance of long-term debt | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | 18 |
Payments on long-term debt | — |  |  | — |  |  | — |  |  | (8 | ) |  | — |  |  | (8 | )
Dividends to shareholders | (625 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (625 | )
Issuance of ordinary shares | 143 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 143 |
Repurchase of ordinary shares | (1,233 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,233 | )
Net intercompany loan borrowings (repayments) | 1,691 |  |  | 2 |  |  | 1,372 |  |  | 133 |  |  | (3,198 | ) |  | — |
Intercompany dividend paid | — |  |  | — |  |  | — |  |  | (250 | ) |  | 250 |  |  | — |
Capital contribution received | — |  |  | — |  |  | — |  |  | 452 |  |  | (452 | ) |  | — |
Other financing activities | — |  |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Net cash provided by (used in) financing activities | (24 | ) |  | 2 |  |  | 1,944 |  |  | 337 |  |  | (3,400 | ) |  | (1,141 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | 45 |  |  | — |  |  | 45 |
Net change in cash and cash equivalents | — |  |  | (33 | ) |  | 25 |  |  | (268 | ) |  | — |  |  | (276 | )
Cash and cash equivalents at beginning of period | — |  |  | 33 |  |  | 5 |  |  | 4,929 |  |  | — |  |  | 4,967 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | — |  |  | $ | 30 |  |  | $ | 4,661 |  |  | $ | — |  |  | $ | 4,691 |
Condensed Consolidating Statement of Cash Flows Three Months Ended July 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 (used in) operating activities | $ | 440 |  |  | $ | (7 | ) |  | $ | — |  |  | $ | 1,117 |  |  | $ | — |  |  | $ | 1,550 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisitions, net of cash acquired | — |  |  | — |  |  | — |  |  | (12 | ) |  | — |  |  | (12 | )
Additions to property, plant, and equipment | — |  |  | — |  |  | — |  |  | (330 | ) |  | — |  |  | (330 | )
Purchases of investments | — |  |  | — |  |  | — |  |  | (1,044 | ) |  | — |  |  | (1,044 | )
Sales and maturities of investments | — |  |  | — |  |  | — |  |  | 1,104 |  |  | — |  |  | 1,104 |
Net (increase) decrease in intercompany loans | — |  |  | 4,290 |  |  | (1,774 | ) |  | 3,334 |  |  | (5,850 | ) |  | — |
Capital contributions paid | — |  |  | (325 | ) |  | — |  |  | — |  |  | 325 |  |  | — |
Other investing activities, net | — |  |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Net cash provided by (used in) investing activities | — |  |  | 3,965 |  |  | (1,774 | ) |  | 3,050 |  |  | (5,525 | ) |  | (284 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |  |
Acquisition-related contingent consideration | — |  |  | — |  |  | — |  |  | (11 | ) |  | — |  |  | (11 | )
Change in current debt obligations, net | — |  |  | — |  |  | 975 |  |  | (49 | ) |  | — |  |  | 926 |
Issuance of long-term debt | — |  |  | — |  |  | — |  |  | 33 |  |  | — |  |  | 33 |
Payments on long-term debt | — |  |  | — |  |  | — |  |  | (17 | ) |  | — |  |  | (17 | )
Dividends to shareholders | (599 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (599 | )
Issuance of ordinary shares | 214 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 214 |
Repurchase of ordinary shares | (1,763 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,763 | )
Net intercompany loan borrowings (repayments) | 1,708 |  |  | (4,081 | ) |  | 854 |  |  | (4,331 | ) |  | 5,850 |  |  | — |
Capital contributions received | — |  |  | — |  |  | — |  |  | 325 |  |  | (325 | ) |  | — |
Other financing activities | — |  |  | — |  |  | — |  |  | 57 |  |  | — |  |  | 57 |
Net cash provided by (used in) financing activities | (440 | ) |  | (4,081 | ) |  | 1,829 |  |  | (3,993 | ) |  | 5,525 |  |  | (1,160 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | 78 |  |  | — |  |  | 78 |
Net change in cash and cash equivalents | — |  |  | (123 | ) |  | 55 |  |  | 252 |  |  | — |  |  | 184 |
Cash and cash equivalents at beginning of period | — |  |  | 208 |  |  | — |  |  | 2,668 |  |  | — |  |  | 2,876 |
Cash and cash equivalents at end of period | $ | — |  |  | $ | 85 |  |  | $ | 55 |  |  | $ | 2,920 |  |  | $ | — |  |  | $ | 3,060 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration