Medtronic 2015 Annual Report Download - page 150

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Medtronic plc
Notes to Consolidated Financial Statements (Continued)
Consolidating Statement of Comprehensive Income
Fiscal Year Ended April 24, 2015
CIFSA Senior Notes
(in millions)
Parent
Company
Guarantor
(Medtronic
plc)
Subsidiary
Issuer
(CIFSA)
Subsidiary
Guarantors
Subsidiary
Non-
guarantors
Consolidating
Adjustments Total
Net sales $ — $ — $ — $ 20,261 $ — $ 20,261
Costs and expenses:
Cost of products sold — — — 6,309 — 6,309
Research and development expense — — — 1,640 — 1,640
Selling, general, and administrative expense — 21 6,883 — 6,904
Special (gains) charges, net — — — (38) — (38)
Restructuring charges, net — — — 237 — 237
Certain litigation charges, net ———42 — 42
Acquisition-related items — — — 550 — 550
Amortization of intangible assets — — — 733 — 733
Other (income) expense, net (108) 1 26 199 — 118
Operating profit 108 (1) (47) 3,706 — 3,766
Interest income — (149) (170) (386) 319 (386)
Interest expense — 29 — 956 (319) 666
Interest (income) expense, net — (120) (170) 570 — 280
Equity in net income of subsidiaries (2,578) 626 (2,410) — 4,362 —
Income (loss) from operations before income
taxes 2,686 (507) 2,533 3,136 (4,362) 3,486
Provision for income taxes 11 — — 800 — 811
Net income (loss) 2,675 (507) 2,533 2,336 (4,362) 2,675
Other comprehensive loss, net of tax (587) (587) (587) (587) 1,761 (587)
Total comprehensive income (loss) $ 2,088 $ (1,094) $ 1,946 $ 1,749 $ (2,601) $ 2,088
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