Medtronic 2013 Annual Report Download - page 134

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75732me_10K.indd 119 6/25/13 6:40 PM
Table of Contents
Medtronic, Inc.
Notes to Consolidated Financial Statements (Continued)
18. Quarterly Financial Data (unaudited)
(in millions,
except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year
Net Sales
2013 $ 4,008 $ 4,095 $ 4,027 $ 4,459 $ 16,590
2012 3,946 4,023 3,918 4,297 16,184
Gross Profit
2013 $ 3,035 $ 3,075 $ 3,028 $ 3,325 $ 12,464
2012 2,995 3,063 2,987 3,250 12,295
Earnings from Continuing
Operations
2013 $ 864 $ 646 $ 988 $ 969 $ 3,467
2012 819 864 845 888 3,415
Net Earnings
2013 $ 864 $ 646 $ 988 $ 969 $ 3,467
2012 821 871 935 991 3,617
Basic Earnings per Share:
Earnings from continuing
operations
2013 $ 0.84 $ 0.63 $ 0.98 $ 0.96 3.40
2012 0.77 0.82 0.80 0.85 3.24
Net earnings
2013 $ 0.84 $ 0.63 $ 0.98 $ 0.96 3.40
2012 0.77 0.82 0.89 0.95 3.43
Diluted Earnings per Share:
Earnings from continuing
operations
2013 $ 0.83 $ 0.63 $ 0.97 $ 0.95 3.37
2012 0.77 0.81 0.80 0.85 3.22
Net earnings
2013 $ 0.83 $ 0.63 $ 0.97 $ 0.95 3.37
2012 0.77 0.82 0.88 0.94 3.41
The data in the schedule above has been intentionally rounded to the nearest million and therefore the quarterly amounts may not
sum to the fiscal year-to-date amounts.
19. Segment and Geographic Information
The Company's operations are comprised of two reportable segments. The Company's Cardiac and Vascular Group consists of
four businesses: Cardiac Rhythm Disease Management (CRDM), Coronary, Structural Heart, and Endovascular. The primary
products sold by this operating segment include those for cardiac rhythm disorders and cardiovascular disease. The Company's
Restorative Therapies Group consists of four businesses: Spine, Neuromodulation, Diabetes, and Surgical Technologies. The
primary products sold by this operating segment include those for spinal conditions and musculoskeletal trauma, neurological
disorders, urological and digestive disorders, diabetes, and ear, nose, and throat conditions.
The Company’s management evaluates performance and allocates resources based on profit and loss from operations before income
taxes and interest expense, net, not including restructuring charges, net, certain litigation charges, net, and acquisition-related
items. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting
policies in Note 1.
116