Stock Analysis on Net

Medtronic PLC (NYSE:MDT)

$24.99

Adjustments to Financial Statements

Microsoft Excel

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Adjustments to Current Assets

Medtronic PLC, adjusted current assets

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Current assets
Adjustments
Add: Allowance for doubtful accounts
After Adjustment
Adjusted current assets

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).


Adjustments to Total Assets

Medtronic PLC, adjusted total assets

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Total assets
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowance for doubtful accounts
Less: Deferred tax assets2
After Adjustment
Adjusted total assets

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred tax assets. See details »


Adjustments to Current Liabilities

Medtronic PLC, adjusted current liabilities

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Current liabilities
Adjustments
Less: Deferred revenue (included in Other accrued expenses)
After Adjustment
Adjusted current liabilities

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).


Adjustments to Total Liabilities

Medtronic PLC, adjusted total liabilities

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Total liabilities
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Deferred tax liabilities2
Less: Deferred revenue
Less: Restructuring reserve
After Adjustment
Adjusted total liabilities

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Medtronic PLC, adjusted shareholders’ equity

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Shareholders’ equity
Adjustments
Less: Net deferred tax assets (liabilities)1
Add: Allowance for doubtful accounts
Add: Deferred revenue
Add: Restructuring reserve
Add: Noncontrolling interests
After Adjustment
Adjusted total equity

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Medtronic PLC, adjusted capitalization table

US$ in millions

Microsoft Excel
Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Current debt obligations
Long-term debt
Total reported debt
Shareholders’ equity
Total reported capital
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Operating lease current liability (classified in Other accrued expenses)2
Add: Operating lease non-current liability (classified in Other liabilities)3
Adjusted total debt
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4
Add: Allowance for doubtful accounts
Add: Deferred revenue
Add: Restructuring reserve
Add: Noncontrolling interests
Adjusted total equity
After Adjustment
Adjusted total capital

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Operating lease current liability (classified in Other accrued expenses). See details »

3 Operating lease non-current liability (classified in Other liabilities). See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

Medtronic PLC, adjusted net sales

US$ in millions

Microsoft Excel
12 months ended: Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Net sales
Adjustment
Add: Increase (decrease) in deferred revenue
After Adjustment
Adjusted net sales

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).


Adjustments to Reported Income

Medtronic PLC, adjusted net income attributable to Medtronic

US$ in millions

Microsoft Excel
12 months ended: Apr 26, 2024 Apr 28, 2023 Apr 29, 2022 Apr 30, 2021 Apr 24, 2020 Apr 26, 2019
As Reported
Net income attributable to Medtronic
Adjustments
Add: Deferred income tax expense (benefit)1
Add: Increase (decrease) in allowance for doubtful accounts
Add: Increase (decrease) in deferred revenue
Add: Increase (decrease) in restructuring reserve
Add: Other comprehensive income (loss), net of tax
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest
After Adjustment
Adjusted net income

Based on: 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24), 10-K (reporting date: 2019-04-26).

1 Deferred income tax expense (benefit). See details »