XML 87 R49.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Segment and Geographic Information (Tables)
12 Months Ended
Apr. 26, 2024
Segment Reporting [Abstract]  
Schedule of Income From Operations Before Income Taxes by Reportable Segment and Reconciliation to Consolidated
Segment Operating Profit
 Fiscal Year
(in millions)202420232022
Cardiovascular$4,474 $4,522 $4,596 
Neuroscience3,940 3,712 3,858 
Medical Surgical3,170 3,048 3,698 
Diabetes394 383 588 
Reportable segment operating profit11,979 11,664 12,740 
Other operating segment (1)
10 (89)(31)
Corporate(1,784)(1,763)(1,724)
Interest expense(719)(636)(553)
Other non-operating income, net412 515 318 
Amortization of intangible assets(1,693)(1,698)(1,733)
Stock-based compensation(393)(355)(358)
Centralized distribution costs(1,609)(1,558)(1,741)
Currency (2)
68 465 70 
Restructuring and associated costs(389)(647)(335)
Acquisition and divestiture-related items(777)(345)(838)
Certain litigation charges, net(149)30 (95)
IPR&D charges— — (101)
Medical device regulations(119)(150)(102)
Commitments to the Medtronic Foundation and Medtronic LABS— (70)— 
Income before income taxes$4,837 $5,364 $5,517 
(1) Includes the historical operations and ongoing transition agreements from businesses the Company has exited or divested, which primarily includes the Company's ventilator product line and the Renal Care Solutions business.
(2) Includes the net impact of remeasurement and the Company's hedging programs recorded in other operating expense (income), net.
Schedule of Reconciliation of Assets and Depreciation Expense from Segments to Consolidated
Total Assets and Depreciation Expense
Total AssetsDepreciation Expense
(in millions)April 26, 2024April 28, 2023202420232022
Cardiovascular$16,128 $16,036 $199 $209 $210 
Neuroscience18,270 18,346 252 267 265 
Medical Surgical33,586 34,926 194 203 186 
Diabetes3,996 3,930 94 80 67 
Total reportable segments71,980 73,238 739 759 728 
Other operating segment (1)
547 1,337 — 18 
Corporate17,455 16,373 215 238 228 
Total$89,981 $90,948 $954 $999 $974 
(1) Includes the historical operations and ongoing transition agreements from businesses the Company has exited or divested, which primarily includes the Company's ventilator product line and the Renal Care Solutions business.
Schedule of Net Sales to External Customers and Property, Plant, and Equipment, Net, by Geographical Region
The following table presents net sales for fiscal years 2024, 2023, and 2022, and property, plant, and equipment, net at April 26, 2024 and April 28, 2023 for the Company's country of domicile, countries with significant concentrations, and all other countries:
Net salesProperty, plant, and equipment, net
(in millions)202420232022April 26, 2024April 28, 2023
Ireland$113 $98 $101 $252 $184 
United States16,562 16,373 16,135 4,593 4,083 
Rest of world15,689 14,756 15,450 1,286 1,302 
Total other countries, excluding Ireland32,251 31,129 31,585 5,879 5,385 
Total$32,364 $31,227 $31,686 $6,131 $5,569