Medtronic 2015 Annual Report Download - page 140

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Medtronic plc
Notes to Consolidated Financial Statements (Continued)
Net sales of the Company’s reportable segments include end-customer revenues from the sale of products they each develop and
manufacture or distribute. Net sales and income before income taxes by reportable segment are as follows:
Fiscal Year
(in millions) 2015 2014 2013
Cardiac and Vascular Group $ 9,361 $ 8,847 $ 8,695
Minimally Invasive Therapies Group 2,387 — —
Restorative Therapies Group 6,751 6,501 6,369
Diabetes Group 1,762 1,657 1,526
Total Net Sales $ 20,261 $ 17,005 $ 16,590
Fiscal Year
(in millions) 2015 2014 2013
Cardiac and Vascular Group $ 3,140 $ 2,982 $ 2,935
Minimally Invasive Therapies Group 342 — —
Restorative Therapies Group 1,828 1,821 1,778
Diabetes Group 540 457 432
Total Reportable Segments’ Income Before Income Taxes 5,850 5,260 5,145
Impact of inventory step-up (623) — —
Impact of product technology upgrade commitment (74) — —
Special (gains) charges, net 38 (40) —
Restructuring charges, net(a) (252) (88) (182)
Certain litigation charges, net (42) (770) (245)
Acquisition-related items (550) (117) 49
Interest expense, net (280) (108) (151)
Corporate (581) (432) (365)
Total Income From Operations Before Income Taxes $ 3,486 $ 3,705 $ 4,251
(a) Restructuring charges, net within this table include the impact of amounts recorded within cost of products sold in the
consolidated statements of income.
The following table presents the Company’s assets by reportable segment:
(in millions)
April 24,
2015
April 25,
2014
Cardiac and Vascular Group $ 13,642 $ 8,705
Minimally Invasive Therapies Group 51,228 —
Restorative Therapies Group 15,249 10,568
Diabetes Group 2,597 2,038
Total Assets of Reportable Segments 82,716 21,311
Corporate 23,969 16,632
Total Assets $ 106,685 $ 37,943
Geographic Information
In the fourth quarter of fiscal year 2015, the Company amended the way in which management evaluates performance and
allocates resources by geography. As a result, the Company began to operate under four geographic regions: Americas, Europe,
Middle East, and Africa (EMEA), Asia Pacific, and Greater China. Accordingly, the geographic information for the prior years
has been restated to present these regions.
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