Medtronic 2016 Annual Report Download - page 138

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Table of Contents
Medtronic plc
Notes to Consolidated Financial Statements (Continued)
135
Condensed Consolidating Statement of Cash Flows
Fiscal Year Ended April 24, 2015
Medtronic Senior Notes
(in millions)
Parent
Company
Guarantor
(Medtronic
plc)
Subsidiary
Issuer
(Medtronic,
Inc.) Subsidiary
Guarantors
Subsidiary
Non-
guarantors Consolidating
Adjustments Total
Operating Activities:
Net cash provided by (used in)
operating activities $ 26 $ 1,479 $ 170 $ 3,640 $ (413) $ 4,902
Investing Activities:
Acquisitions, net of cash acquired (9,700) (65) — (5,119) — (14,884)
Additions to property, plant, and equipment — (187) — (384) — (571)
Purchases of marketable securities — — — (7,582) — (7,582)
Sales and maturities of marketable securities — — — 5,890 — 5,890
Net (increase) decrease in intercompany loans
receivable — (16,996) — 53 16,943 —
Other investing activities, net — — — 89 — 89
Net cash provided by (used in) investing
activities (9,700) (17,248) — (7,053) 16,943 (17,058)
Financing Activities:
Acquisition-related contingent consideration — — — (85) — (85)
Change in short-term borrowings, net — — — (1) — (1)
Repayment of short-term borrowings
(maturities greater than 90 days) — (150) — — — (150)
Proceeds from short-term borrowings
(maturities greater than 90 days) — 150 — — — 150
Issuance of long-term debt — 19,942 — — — 19,942
Payments on long-term debt — (1,268) — — — (1,268)
Dividends to shareholders (435) (902) — — — (1,337)
Issuance of ordinary shares 172 477 — — — 649
Repurchase of ordinary shares (300) (1,620) — — — (1,920)
Net intercompany loan borrowings
(repayments) 10,500 (53) — 6,496 (16,943) —
Intercompany dividends paid — — — (413) 413 —
Other financing activities — — — (31) — (31)
Net cash provided by (used in)
financing activities 9,937 16,576 — 5,966 (16,530) 15,949
Effect of exchange rate changes on cash and
cash equivalents — — — (353) — (353)
Net change in cash and cash equivalents 263 807 170 2,200 — 3,440
Cash and cash equivalents at beginning of
period — 264 — 1,139 — 1,403
Cash and cash equivalents at end of period $ 263 $ 1,071 $ 170 $ 3,339 $ — $ 4,843