Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Medtronic PLC, consolidated balance sheet: assets (quarterly data)

US$ in millions

	Apr 25, 2025	Jan 24, 2025	Oct 25, 2024	Jul 26, 2024	Apr 26, 2024	Jan 26, 2024	Oct 27, 2023	Jul 28, 2023	Apr 28, 2023	Jan 27, 2023	Oct 28, 2022	Jul 29, 2022	Apr 29, 2022	Jan 28, 2022	Oct 29, 2021	Jul 30, 2021	Apr 30, 2021	Jan 29, 2021	Oct 30, 2020	Jul 31, 2020	Apr 24, 2020	Jan 24, 2020	Oct 25, 2019	Jul 26, 2019
Cash and cash equivalents	2,218)	1,240)	1,394)	1,311)	1,284)	1,623)	1,311)	1,339)	1,543)	4,521)	4,828)	2,140)	3,714)	3,479)	2,900)	3,004)	3,593)	5,077)	6,420)	6,499)	4,140)	3,709)	3,962)	5,080)
Investments	6,747)	6,682)	6,595)	6,532)	6,721)	6,698)	6,423)	6,537)	6,416)	6,616)	6,602)	6,733)	6,859)	7,742)	7,769)	7,591)	7,224)	9,562)	7,857)	6,513)	6,808)	7,919)	6,436)	5,603)
Accounts receivable, less allowances and credit losses	6,515)	6,115)	6,260)	6,011)	6,128)	5,968)	5,934)	5,806)	5,998)	5,887)	5,626)	5,308)	5,551)	5,446)	5,493)	5,431)	5,462)	5,215)	5,348)	4,876)	4,645)	6,248)	6,118)	5,894)
Inventories	5,476)	5,610)	5,479)	5,414)	5,217)	5,726)	5,754)	5,668)	5,293)	5,375)	5,055)	4,809)	4,616)	4,514)	4,349)	4,288)	4,313)	4,508)	4,484)	4,551)	4,229)	4,122)	4,042)	3,932)
Other current assets	2,858)	2,866)	2,710)	2,679)	2,585)	2,498)	2,659)	2,519)	2,425)	2,965)	3,287)	3,145)	2,319)	2,122)	2,220)	2,120)	1,956)	1,985)	1,927)	2,070)	2,209)	2,045)	2,095)	2,196)
Current assets	23,814)	22,513)	22,438)	21,947)	21,935)	22,513)	22,081)	21,869)	21,675)	25,364)	25,398)	22,135)	23,059)	23,303)	22,731)	22,434)	22,548)	26,347)	26,036)	24,509)	22,031)	24,043)	22,653)	22,705)
Property, plant, and equipment, net	6,837)	6,593)	6,438)	6,282)	6,131)	5,838)	5,735)	5,665)	5,569)	5,437)	5,298)	5,281)	5,413)	5,251)	5,188)	5,162)	5,221)	5,023)	4,938)	4,882)	4,828)	4,764)	4,756)	4,711)
Goodwill	41,737)	40,819)	41,161)	41,084)	40,986)	41,160)	40,821)	41,436)	41,425)	41,565)	40,417)	40,324)	40,502)	41,346)	41,612)	41,720)	41,961)	42,141)	41,212)	40,714)	39,841)	40,091)	39,952)	40,082)
Other intangible assets, net	11,667)	12,184)	12,423)	12,819)	13,225)	13,690)	14,060)	14,434)	14,844)	15,265)	15,655)	15,775)	15,595)	16,078)	16,523)	16,890)	17,740)	18,240)	18,412)	18,670)	19,063)	19,456)	19,775)	20,234)
Tax assets	4,040)	3,614)	3,572)	3,554)	3,657)	3,599)	3,428)	3,461)	3,477)	3,361)	3,350)	3,311)	3,403)	3,309)	3,203)	3,187)	3,169)	3,310)	3,176)	2,988)	2,832)	2,272)	1,804)	1,545)
Other assets	3,585)	4,250)	4,010)	4,063)	4,047)	4,036)	3,962)	3,911)	3,958)	3,142)	3,123)	3,088)	3,009)	2,517)	2,499)	2,409)	2,444)	2,209)	2,112)	2,143)	2,094)	2,196)	2,113)	1,991)
Noncurrent assets	67,866)	67,460)	67,604)	67,802)	68,046)	68,323)	68,006)	68,907)	69,273)	68,770)	67,843)	67,779)	67,922)	68,501)	69,025)	69,368)	70,535)	70,923)	69,850)	69,397)	68,658)	68,779)	68,400)	68,563)
Total assets	91,680)	89,973)	90,042)	89,749)	89,981)	90,836)	90,087)	90,776)	90,948)	94,134)	93,241)	89,914)	90,981)	91,804)	91,756)	91,802)	93,083)	97,270)	95,886)	93,906)	90,689)	92,822)	91,053)	91,268)

Cash and cash equivalents: Cash and cash equivalents showed considerable volatility over the observed periods. Starting at 5,080 million US dollars in July 2019, the balance declined sharply to a low point of 1,311 million in April 2023, followed by mild fluctuations and a modest recovery up to 2,218 million by April 2025. This trend suggests periods of higher liquidity needs or investments alongside spells of restricting cash holdings.
Investments: Investments exhibited a general upward trend initially, from 5,603 million in July 2019, peaking at 9,562 million in January 2021. Afterward, the value declined gradually and stabilized around the 6,500 to 6,700 million range in recent quarters, indicating a shift from accumulation towards stabilization or potential divestments of investment assets.
Accounts receivable, less allowances and credit losses: Accounts receivable displayed some fluctuations but generally increased from 5,894 million in July 2019 to 6,515 million by April 2025. Notable declines occurred in April 2020 and thereafter stable recovery was seen, which might indicate impacts of market or operational factors affecting collections and credit terms.
Inventories: Inventories consistently increased across the periods from 3,932 million in July 2019 to a peak of 5,754 million in October 2023, then showed a slight decrease to 5,476 million in April 2025. The overall rising inventory trend could reflect business growth or changes in inventory management policies.
Other current assets: Other current assets remained relatively stable with minor fluctuations, generally hovering between 2,000 and 3,200 million across the periods. A notable spike occurred around July 2022, reaching above 3,200 million, followed by a slight decline, indicating temporary adjustments in miscellaneous current resources.
Current assets: Total current assets generally fluctuated moderately, peaking around 26,036 million in October 2020, then declining to lower 21,675 million levels in April 2023 before recovering partially to 23,814 million by April 2025. This variability aligns closely with movements in cash, investments, receivables, and inventories, highlighting dynamic short-term asset management.
Property, plant, and equipment, net: Fixed assets progressively increased from 4,711 million in July 2019 to 6,837 million in April 2025, illustrating continuous investment in physical long-term assets and likely expansion or maintenance of operational capacity.
Goodwill: Goodwill remained relatively stable around the 40,000 to 41,500 million range, with some minor fluctuations over the periods. This stability suggests no major impairments or acquisitions significantly altering this intangible asset value.
Other intangible assets, net: This category displayed a steady decline from 20,234 million in July 2019 to 11,667 million in April 2025, indicating amortization and no substantial additions to intangible assets such as patents or trademarks.
Tax assets: Tax assets demonstrated a general upward trend, starting at 1,545 million in July 2019, increasing to above 4,000 million by April 2025. This increment may reflect greater deferred tax assets or new tax credits recognized on the balance sheet.
Other assets: Other noncurrent assets tended to increase, rising from 1,991 million in July 2019 to peaks above 4,000 million around the 2023 period, before declining to 3,585 million by April 2025. This suggests varying levels of miscellaneous asset holdings possibly related to long-term investments or recoverable items.
Noncurrent assets: Overall noncurrent assets showed a slight decline from 68,563 million in July 2019 down to a low near 67,460 million in April 2025. The relative stability with minor downward drift might be attributed to amortization, depreciation, and limited growth in fixed and intangible assets.
Total assets: Total assets demonstrated modest fluctuations, beginning at 91,268 million in July 2019, peaking near 97,270 million in January 2021, then declining gradually to around 89,973 million in January 2025, followed by a slight recovery to 91,680 million by April 2025. This pattern reflects the sum effects of changes across current and noncurrent assets and indicates relative asset base stability with short-term variability.

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Medtronic PLC (NYSE:MDT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data