Medtronic 2015 Annual Report Download - page 144
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Medtronic plc
Notes to Consolidated Financial Statements (Continued)
Consolidating Statement of Comprehensive Income
Fiscal Year Ended April 26, 2013
Medtronic 2015 Senior Notes and Medtronic Outstanding Notes
(in millions)
Parent
Company
Guarantor
(Medtronic
plc)
Subsidiary
Issuer
(Medtronic,
Inc.)
Subsidiary
Guarantors
Subsidiary
Non-
guarantors
Consolidating
Adjustments Total
Net sales $ — $ 1,090 $ — $ 16,590 $ (1,090) $ 16,590
Costs and expenses:
Cost of products sold — 1,057 — 4,147 (1,078) 4,126
Research and development expense — 421 — 1,136 — 1,557
Selling, general, and administrative
expense — 542 — 5,156 — 5,698
Special charges ——————
Restructuring charges, net — — — 172 — 172
Certain litigation charges, net — — — 245 — 245
Acquisition-related items — — — (49) — (49)
Amortization of intangible assets — 14 — 317 — 331
Other (income) expense, net — (1,136) — 1,244 — 108
Operating profit — 192 — 4,222 (12) 4,402
Interest income — — — (237) — (237)
Interest expense — 329 — 59 — 388
Interest expense (income), net — 329 — (178) — 151
Equity in net income of subsidiaries — (3,945) — — 3,945 —
Income from operations before
income taxes — 3,808 — 4,400 (3,957) 4,251
Provision for income taxes — 341 — 455 (12) 784
Net income — 3,467 — 3,945 (3,945) 3,467
Other comprehensive loss, net of tax — (19) — (19) 19 (19)
Total comprehensive income $ — $ 3,448 $ — $ 3,926 $ (3,926) $ 3,448
134