2019 Q2 Form 10-K Financial Statement

#000161310319000028 Filed on June 21, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $8.146B $8.144B $7.369B
YoY Change 0.02% 2.88% 1.18%
Cost Of Revenue $2.450B $2.383B $2.194B
YoY Change 2.81% -1.93% -3.26%
Gross Profit $5.663B $5.746B $5.175B
YoY Change -1.44% 4.85% 3.19%
Gross Profit Margin 69.52% 70.56% 70.23%
Selling, General & Admin $2.640B $2.533B $2.523B
YoY Change 4.22% -9.08% 5.65%
% of Gross Profit 46.62% 44.08% 48.75%
Research & Development $594.0M $592.0M $559.0M
YoY Change 0.34% 7.05% 5.47%
% of Gross Profit 10.49% 10.3% 10.8%
Depreciation & Amortization $667.0M $664.0M $666.0M
YoY Change 0.45% -7.52% -8.77%
% of Gross Profit 11.78% 11.56% 12.87%
Operating Expenses $3.488B $3.719B $3.082B
YoY Change -6.21% -2.97% 5.62%
Operating Profit $2.175B $2.027B $1.436B
YoY Change 7.3% 23.07% 25.2%
Interest Expense -$99.00M -$345.0M $270.0M
YoY Change -71.3% 200.0% 0.75%
% of Operating Profit -4.55% -17.02% 18.8%
Other Income/Expense, Net -$17.00M $234.0M -$140.0M
YoY Change -107.26% -541.51% 204.35%
Pretax Income $1.292B $1.725B $1.027B
YoY Change -25.1% 20.21% 6.2%
Income Tax $115.0M $223.0M $2.419B
% Of Pretax Income 8.9% 12.93% 235.54%
Net Earnings $1.172B $1.460B -$1.389B
YoY Change -19.73% 25.54% -269.18%
Net Earnings / Revenue 14.39% 17.93% -18.85%
Basic Earnings Per Share $0.87 $1.08 -$1.03
Diluted Earnings Per Share $0.87 $1.07 -$1.03
COMMON SHARES
Basic Shares Outstanding 1.341B shares 1.352B shares 1.354B shares
Diluted Shares Outstanding 1.354B shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.848B $11.23B $14.44B
YoY Change -12.28% -18.1% 25.99%
Cash & Equivalents $4.393B $3.669B $6.358B
Short-Term Investments $5.455B $7.558B $8.078B
Other Short-Term Assets $2.144B $2.187B $2.645B
YoY Change -1.97% 17.27% 47.6%
Inventory $3.753B $3.579B $3.751B
Prepaid Expenses
Receivables $6.222B $5.987B $5.775B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $21.97B $22.98B $26.61B
YoY Change -4.41% -7.61% 18.66%
LONG-TERM ASSETS
Property, Plant & Equipment $4.675B $4.604B $4.517B
YoY Change 1.54% 5.57% -8.69%
Goodwill $39.96B $39.54B $39.80B
YoY Change 1.05% 2.67% -3.47%
Intangibles $20.56B $21.72B $22.18B
YoY Change -5.35% -7.19% -15.38%
Long-Term Investments $372.0M $18.00M $600.0M
YoY Change 1966.67%
Other Assets $1.014B $1.078B $1.166B
YoY Change -5.94% -12.5% -9.68%
Total Long-Term Assets $67.73B $68.41B $69.19B
YoY Change -1.0% -8.76% -7.93%
TOTAL ASSETS
Total Short-Term Assets $21.97B $22.98B $26.61B
Total Long-Term Assets $67.73B $68.41B $69.19B
Total Assets $89.69B $91.39B $95.80B
YoY Change -1.86% -8.48% -1.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.953B $1.628B $1.809B
YoY Change 19.96% 4.69% 16.18%
Accrued Expenses $4.885B $5.232B $4.975B
YoY Change -6.63% 17.76% 24.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $838.0M $2.058B $2.902B
YoY Change -59.28% -72.54% -53.39%
Total Short-Term Liabilities $8.472B $10.08B $10.93B
YoY Change -15.99% -29.3% -13.72%
LONG-TERM LIABILITIES
Long-Term Debt $24.55B $23.69B $25.92B
YoY Change 3.63% -8.43% -0.02%
Other Long-Term Liabilities $757.0M $889.0M $964.0M
YoY Change -14.85% -41.32% -43.63%
Total Long-Term Liabilities $25.31B $24.58B $964.0M
YoY Change 2.96% -10.25% -43.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.472B $10.08B $10.93B
Total Long-Term Liabilities $25.31B $24.58B $964.0M
Total Liabilities $39.48B $40.57B $45.46B
YoY Change -2.68% -18.08% -5.46%
SHAREHOLDERS EQUITY
Retained Earnings $26.27B $24.38B $23.43B
YoY Change 7.76% 4.77% -55.18%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.09B $50.72B $50.23B
YoY Change
Total Liabilities & Shareholders Equity $89.69B $91.39B $95.80B
YoY Change -1.86% -8.48% -1.82%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $1.172B $1.460B -$1.389B
YoY Change -19.73% 25.54% -269.18%
Depreciation, Depletion And Amortization $667.0M $664.0M $666.0M
YoY Change 0.45% -7.52% -8.77%
Cash From Operating Activities $2.087B $1.038B $2.002B
YoY Change 101.06% -41.46% -3.98%
INVESTING ACTIVITIES
Capital Expenditures -$335.0M -$292.0M -$252.0M
YoY Change 14.73% -11.52% -22.7%
Acquisitions
YoY Change
Other Investing Activities -$194.0M $403.0M -$126.0M
YoY Change -148.14% 594.83% -79.55%
Cash From Investing Activities -$529.0M $111.0M -$378.0M
YoY Change -576.58% -140.81% -59.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -860.0M -3.828B -849.0M
YoY Change -77.53% -657.21% -35.63%
NET CHANGE
Cash From Operating Activities 2.087B 1.038B 2.002B
Cash From Investing Activities -529.0M 111.0M -378.0M
Cash From Financing Activities -860.0M -3.828B -849.0M
Net Change In Cash 698.0M -2.679B 775.0M
YoY Change -126.05% -222.44% -540.34%
FREE CASH FLOW
Cash From Operating Activities $2.087B $1.038B $2.002B
Capital Expenditures -$335.0M -$292.0M -$252.0M
Free Cash Flow $2.422B $1.330B $2.254B
YoY Change 82.11% -36.76% -6.51%

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CY2018Q2 us-gaap Commitments And Contingencies
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CY2019 us-gaap Provision For Doubtful Accounts
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CY2018 us-gaap Provision For Doubtful Accounts
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CY2017 us-gaap Share Based Compensation
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CY2018 us-gaap Increase Decrease In Accounts And Notes Receivable
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CY2018 us-gaap Increase Decrease In Inventories
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CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2017 us-gaap Increase Decrease In Other Operating Capital Net
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CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2019 us-gaap Proceeds From Divestiture Of Businesses
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CY2018 us-gaap Proceeds From Divestiture Of Businesses
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CY2017 us-gaap Proceeds From Divestiture Of Businesses
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2018 us-gaap Payments To Acquire Property Plant And Equipment
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CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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CY2019 us-gaap Payments To Acquire Investments
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CY2018 us-gaap Payments To Acquire Investments
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CY2017 us-gaap Payments To Acquire Investments
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CY2019 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2017 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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CY2019 us-gaap Payments For Proceeds From Other Investing Activities
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CY2018 us-gaap Payments For Proceeds From Other Investing Activities
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CY2017 us-gaap Payments For Proceeds From Other Investing Activities
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CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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CY2018 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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CY2017 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2019 us-gaap Repayments Of Long Term Debt
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CY2018 us-gaap Repayments Of Long Term Debt
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CY2017 us-gaap Repayments Of Long Term Debt
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CY2019 us-gaap Payments Of Dividends Common Stock
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CY2018 us-gaap Payments Of Dividends Common Stock
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CY2017 us-gaap Payments Of Dividends Common Stock
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CY2018 us-gaap Proceeds From Issuance Or Sale Of Equity
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CY2017 us-gaap Payments For Repurchase Of Common Stock
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CY2019 us-gaap Proceeds From Payments For Other Financing Activities
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CY2018 us-gaap Proceeds From Payments For Other Financing Activities
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CY2017 us-gaap Proceeds From Payments For Other Financing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2017 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2017Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2016Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2017Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019 us-gaap Income Taxes Paid Net
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CY2018 us-gaap Income Taxes Paid Net
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CY2017 us-gaap Income Taxes Paid Net
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CY2019 us-gaap Interest Paid Net
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CY2018 us-gaap Interest Paid Net
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CY2017 us-gaap Interest Paid Net
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CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
Certain reclassifications have been made to prior year financial statements to conform to classifications used in the current year. For the purpose of providing more concise consolidated statements of income, amounts previously reported in <span style="font-family:inherit;font-size:10pt;font-style:italic;">acquisition-related items</span><span style="font-family:inherit;font-size:10pt;"> were reclassified to </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">selling, general, and administrative expense</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">other operating expense, net</span><span style="font-family:inherit;font-size:10pt;">; amounts previously reported in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">divestiture-related items</span><span style="font-family:inherit;font-size:10pt;"> were reclassified to </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">selling, general, and administrative expense</span><span style="font-family:inherit;font-size:10pt;">; amounts previously reported in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">special charge</span><span style="font-family:inherit;font-size:10pt;"> were reclassified to </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">other operating expense, net</span><span style="font-family:inherit;font-size:10pt;">, and amounts previously reported in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">investment loss</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">interest income</span><span style="font-family:inherit;font-size:10pt;"> were reclassified to </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">other non-operating income, net.</span><span style="font-family:inherit;font-size:10pt;"> </span>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States (U.S.) (U.S. GAAP) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Estimates are used when accounting for items such as income taxes, contingencies, intangible asset, and liability valuations. Actual results may or may not differ from those estimates.
CY2019 us-gaap Fiscal Period
FiscalPeriod
The Company utilizes a 52/53-week fiscal year, ending the last Friday in April, for the presentation of its consolidated financial statements and related notes thereto at <span style="font-family:inherit;font-size:10pt;">April 26, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">April 27, 2018</span><span style="font-family:inherit;font-size:10pt;"> and for each of the three fiscal years ended </span><span style="font-family:inherit;font-size:10pt;">April 26, 2019</span><span style="font-family:inherit;font-size:10pt;"> (fiscal year </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">), </span><span style="font-family:inherit;font-size:10pt;">April 27, 2018</span><span style="font-family:inherit;font-size:10pt;"> (fiscal year </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">), and </span><span style="font-family:inherit;font-size:10pt;">April 28, 2017</span><span style="font-family:inherit;font-size:10pt;"> (fiscal year </span><span style="font-family:inherit;font-size:10pt;">2017</span><span style="font-family:inherit;font-size:10pt;">). Fiscal years </span><span style="font-family:inherit;font-size:10pt;">2019</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, </span><span style="font-family:inherit;font-size:10pt;">2017</span><span style="font-family:inherit;font-size:10pt;"> were 52-week years. </span>
CY2018 us-gaap Restructuring Reserve Accrual Adjustment1
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-34000000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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29953000000 USD
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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29710000000 USD
CY2019Q2 us-gaap Contract With Customer Liability
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315000000 USD
CY2018Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
289000000 USD
CY2019 us-gaap Contract With Customer Liability Revenue Recognized
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199000000 USD
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
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900000000 USD
CY2019Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P4Y
CY2019Q2 us-gaap Business Combination Contingent Consideration Liability
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222000000 USD
CY2018Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
173000000 USD
CY2018Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
173000000 USD
CY2017Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
246000000 USD
CY2019 mdt Business Acquisition Purchase Price Contingent Consideration
BusinessAcquisitionPurchasePriceContingentConsideration
151000000 USD
CY2018 mdt Business Acquisition Purchase Price Contingent Consideration
BusinessAcquisitionPurchasePriceContingentConsideration
28000000 USD
CY2019 mdt Business Acquisition Contingent Consideration Milestone Payment
BusinessAcquisitionContingentConsiderationMilestonePayment
36000000 USD
CY2018 mdt Business Acquisition Contingent Consideration Milestone Payment
BusinessAcquisitionContingentConsiderationMilestonePayment
72000000 USD
CY2019 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
66000000 USD
CY2018 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
29000000 USD
CY2019Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
222000000 USD
CY2018Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
173000000 USD
CY2019 mdt Restructuring Charges Netof Accrual Adjustments
RestructuringChargesNetofAccrualAdjustments
407000000 USD
CY2019 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-17000000 USD
CY2018 mdt Restructuring Charges Netof Accrual Adjustments
RestructuringChargesNetofAccrualAdjustments
107000000 USD
CY2019Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-29000000 USD
CY2018Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-120000000 USD
CY2019Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
104000000 USD
CY2019Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
5540000000 USD
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
20000000 USD
CY2019Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
61000000 USD
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5499000000 USD
CY2018Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
6963000000 USD
CY2018Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
22000000 USD
CY2018Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
165000000 USD
CY2018Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
6820000000 USD
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
1075000000 USD
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
9000000 USD
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
2181000000 USD
CY2019Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
52000000 USD
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
4094000000 USD
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
107000000 USD
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
891000000 USD
CY2018Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
58000000 USD
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3718000000 USD
CY2018 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3309000000 USD
CY2017 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
3646000000 USD
CY2019 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
18000000 USD
CY2018 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
27000000 USD
CY2017 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
49000000 USD
CY2019 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
62000000 USD
CY2018 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
21000000 USD
CY2017 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
14000000 USD
CY2019Q2 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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0 USD
CY2019 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Securities Sold
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsReductionsSecuritiesSold
0 USD
CY2019Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1022000000 USD
CY2019Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
2198000000 USD
CY2019Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
2244000000 USD
CY2019Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
35000000 USD
CY2019Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
5499000000 USD
CY2018Q2 mdt Costand Equity Method Investments Carrying Value Before Realized Loss
CostandEquityMethodInvestmentsCarryingValueBeforeRealizedLoss
317000000 USD
CY2019Q2 us-gaap Debt Current
DebtCurrent
838000000 USD
CY2018Q2 us-gaap Debt Current
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2058000000 USD
CY2018Q2 us-gaap Deferred Finance Costs Net
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107000000 USD
CY2019Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
24486000000 USD
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
23699000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
838000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2747000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3258000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2862000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1161000000 USD
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
14524000000 USD
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
25390000000 USD
CY2019Q2 us-gaap Long Term Debt Current
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838000000 USD
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
24552000000 USD
CY2019Q2 us-gaap Long Term Debt Fair Value
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26200000000 USD
CY2019Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
25000000000.0 USD
CY2018Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
25100000000 USD
CY2018Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
24500000000 USD
CY2019 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
236000000 USD
CY2018 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-226000000 USD
CY2017 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
54000000 USD
CY2019 us-gaap Gain Loss On Foreign Currency Cash Flow Hedge Ineffectiveness
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0 USD
CY2017 us-gaap Gain Loss On Interest Rate Cash Flow Hedge Ineffectiveness
GainLossOnInterestRateCashFlowHedgeIneffectiveness
0 USD
CY2019Q2 mdt Unrealized Gain Loss On Interest Rate Cash Flow Hedges Accumulated Other Comprehensive Income Loss Net Of Tax
UnrealizedGainLossOnInterestRateCashFlowHedgesAccumulatedOtherComprehensiveIncomeLossNetOfTax
194000000 USD
CY2018Q2 mdt Unrealized Gain Loss On Interest Rate Cash Flow Hedges Accumulated Other Comprehensive Income Loss Net Of Tax
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-207000000 USD
CY2019 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
175000000 USD
CY2019 mdt Unrealized Gain Losson Net Investment Hedges Accumulated Other Comprehensive Income Loss Netof Tax
UnrealizedGainLossonNetInvestmentHedgesAccumulatedOtherComprehensiveIncomeLossNetofTax
-169000000 USD
CY2018 mdt Unrealized Gain Losson Net Investment Hedges Accumulated Other Comprehensive Income Loss Netof Tax
UnrealizedGainLossonNetInvestmentHedgesAccumulatedOtherComprehensiveIncomeLossNetofTax
-257000000 USD
CY2019 mdt Net Investment Hedge Gain Losstobe Reclassified Within Twelve Months
NetInvestmentHedgeGainLosstobeReclassifiedWithinTwelveMonths
0 USD
CY2019 us-gaap Amount Of Ineffectiveness On Net Investment Hedges
AmountOfIneffectivenessOnNetInvestmentHedges
0 USD
CY2019 mdt Gain Lossfrom Hedged Firm Commitment Not Qualifyingas Net Investment Hedge Net
GainLossfromHedgedFirmCommitmentNotQualifyingasNetInvestmentHedgeNet
0 USD
CY2019 us-gaap Gain Loss On Interest Rate Fair Value Hedge Ineffectiveness
GainLossOnInterestRateFairValueHedgeIneffectiveness
0 USD
CY2019 us-gaap Gain Loss From Hedged Firm Commitment Not Qualifying As Fair Value Hedge Net
GainLossFromHedgedFirmCommitmentNotQualifyingAsFairValueHedgeNet
0 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
365000000 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
19000000 USD
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
118000000 USD
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
258000000 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
365000000 USD
CY2019Q2 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
9000000 USD
CY2019Q2 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
44000000 USD
CY2019Q2 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
312000000 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
19000000 USD
CY2019Q2 us-gaap Derivative Liability Not Offset Policy Election Deduction
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9000000 USD
CY2019Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2019Q2 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 USD
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
10000000 USD
CY2019Q2 mdt Derivative Asset Liability Fair Value Gross Asset Liability
DerivativeAssetLiabilityFairValueGrossAssetLiability
346000000 USD
CY2019Q2 mdt Derivative Assetsand Liabilities Net Not Offset Policy Election Deduction
DerivativeAssetsandLiabilitiesNetNotOffsetPolicyElectionDeduction
0 USD
CY2019Q2 mdt Derivative Assetsand Liabilities Net Collateral Obligationto Return Cash
DerivativeAssetsandLiabilitiesNetCollateralObligationtoReturnCash
44000000 USD
CY2019Q2 mdt Derivative Assets And Liabilities Net Collateral Rightto Reclaim Securities
DerivativeAssetsAndLiabilitiesNetCollateralRighttoReclaimSecurities
0 USD
CY2019Q2 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
302000000 USD
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
118000000 USD
CY2018Q2 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
71000000 USD
CY2018Q2 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2018Q2 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 USD
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
47000000 USD
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
258000000 USD
CY2018Q2 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
71000000 USD
CY2018Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2018Q2 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
76000000 USD
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
111000000 USD
CY2018Q2 mdt Derivative Asset Liability Fair Value Gross Asset Liability
DerivativeAssetLiabilityFairValueGrossAssetLiability
-140000000 USD
CY2018Q2 mdt Derivative Assetsand Liabilities Net Not Offset Policy Election Deduction
DerivativeAssetsandLiabilitiesNetNotOffsetPolicyElectionDeduction
0 USD
CY2018Q2 mdt Derivative Assetsand Liabilities Net Collateral Obligationto Return Cash
DerivativeAssetsandLiabilitiesNetCollateralObligationtoReturnCash
0 USD
CY2018Q2 mdt Derivative Assets And Liabilities Net Collateral Rightto Reclaim Securities
DerivativeAssetsAndLiabilitiesNetCollateralRighttoReclaimSecurities
-76000000 USD
CY2018Q2 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
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-64000000 USD
CY2019Q2 mdt Derivative Assetsand Liabilities Net Collateral Obligationto Return Cash
DerivativeAssetsandLiabilitiesNetCollateralObligationtoReturnCash
44000000 USD
CY2018Q2 mdt Derivative Assets And Liabilities Net Collateral Rightto Reclaim Securities
DerivativeAssetsAndLiabilitiesNetCollateralRighttoReclaimSecurities
-76000000 USD
CY2019Q2 us-gaap Inventory Finished Goods Net Of Reserves
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2476000000 USD
CY2018Q2 us-gaap Inventory Finished Goods Net Of Reserves
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2407000000 USD
CY2019Q2 us-gaap Inventory Work In Process Net Of Reserves
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572000000 USD
CY2018Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
496000000 USD
CY2019Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
705000000 USD
CY2018Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
676000000 USD
CY2019Q2 us-gaap Inventory Net
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3753000000 USD
CY2018Q2 us-gaap Inventory Net
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3579000000 USD
CY2017Q2 us-gaap Goodwill
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38515000000 USD
CY2018 us-gaap Goodwill Acquired During Period
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52000000 USD
CY2018 us-gaap Goodwill Purchase Accounting Adjustments
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54000000 USD
CY2018 us-gaap Goodwill Foreign Currency Translation Gain Loss
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922000000 USD
CY2018Q2 us-gaap Goodwill
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39543000000 USD
CY2019 us-gaap Goodwill Acquired During Period
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1510000000 USD
CY2019 us-gaap Goodwill Foreign Currency Translation Gain Loss
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-1094000000 USD
CY2019Q2 us-gaap Goodwill
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39959000000 USD
CY2019 us-gaap Goodwill Impairment Loss
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0 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
29004000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9048000000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Gross
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29434000000 USD
CY2018Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8201000000 USD
CY2019 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
87000000 USD
CY2018 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2019 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
30000000 USD
CY2018 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
68000000 USD
CY2017 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 USD
CY2019 us-gaap Amortization Of Intangible Assets
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1800000000 USD
CY2017 us-gaap Amortization Of Intangible Assets
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2000000000.0 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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1741000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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1724000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1684000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1615000000 USD
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1574000000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
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4604000000 USD
CY2019Q2 us-gaap Property Plant And Equipment Gross
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10920000000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
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10259000000 USD
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6245000000 USD
CY2018Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5655000000 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
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4675000000 USD
CY2019 us-gaap Depreciation
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895000000 USD
CY2018 us-gaap Depreciation
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821000000 USD
CY2017 us-gaap Depreciation
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937000000 USD
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
2600000000 shares
CY2019Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q2 mdt Deferred Stock Shares Authorized
DeferredStockSharesAuthorized
40000 shares
CY2019Q2 mdt Deferred Stock Paror Stated Value Per Share
DeferredStockParorStatedValuePerShare
1.00
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
127500000 shares
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.20
CY2019Q2 mdt Deferred Stock Shares Authorized
DeferredStockSharesAuthorized
40000 shares
CY2019Q2 mdt Deferred Stock Paror Stated Value Per Share
DeferredStockParorStatedValuePerShare
1.00
CY2019Q2 mdt Deferred Stock Shares Issued
DeferredStockSharesIssued
0 shares
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
127500000 shares
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.20
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.77
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
13.71
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.70
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M28D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y2M4D
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0290
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0200
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0126
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.1777
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.1951
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2107
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0225
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0219
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0197
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
290000000 USD
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
344000000 USD
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
348000000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
290000000 USD
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
344000000 USD
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
348000000 USD
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
54000000 USD
CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
82000000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
98000000 USD
CY2019 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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CY2019 mdt Effective Income Tax Rate Reconciliation Puerto Rico Excise Tax
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2018 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2019 mdt Cash Advance Paidin Connection With Proposed Settlements
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CY2017 mdt Cash Advance Paidin Connection With Proposed Settlements
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CY2019Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2019Q2 us-gaap Liability For Uncertain Tax Positions Noncurrent
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CY2019 us-gaap Income Tax Examination Interest Expense
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CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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7900000 shares
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CY2019 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
3200000 shares
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IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
3300000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
3400000 shares
CY2019 mdt Incremental Common Shares Attributableto Dilutive Effectof Other Shares
IncrementalCommonSharesAttributabletoDilutiveEffectofOtherShares
300000 shares
CY2018 mdt Incremental Common Shares Attributableto Dilutive Effectof Other Shares
IncrementalCommonSharesAttributabletoDilutiveEffectofOtherShares
300000 shares
CY2017 mdt Incremental Common Shares Attributableto Dilutive Effectof Other Shares
IncrementalCommonSharesAttributabletoDilutiveEffectofOtherShares
100000 shares
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CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2.29
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2.92
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3.41
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2.27
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EarningsPerShareDiluted
2.89
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552000000 USD
CY2017 us-gaap Pension And Other Postretirement Benefit Expense
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4000000 USD
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DefinedBenefitPlanandDefinedContributionPlanCashPaymentsandAdministrativeFees
2000000 USD
CY2019Q2 mdt Investments Numberof Investments In Processof Liquidation
InvestmentsNumberofInvestmentsInProcessofLiquidation
0 fund
CY2019 us-gaap Defined Contribution Plan Cost Recognized
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415000000 USD
CY2018 us-gaap Defined Contribution Plan Cost Recognized
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374000000 USD
CY2017 us-gaap Defined Contribution Plan Cost Recognized
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347000000 USD
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157000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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103000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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61000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
34000000 USD
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81000000 USD
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
652000000 USD
CY2019 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
305000000 USD
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
319000000 USD
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
294000000 USD
CY2019 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<span style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments and Contingencies</span><span style="font-family:inherit;font-size:10pt;font-weight:bold;"> </span><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Legal Matters</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company and its affiliates are involved in a number of legal actions involving product liability, intellectual property and commercial disputes, shareholder related matters, environmental proceedings, income tax disputes, and governmental proceedings and investigations, including those described below. With respect to governmental proceedings and investigations, like other companies in our industry, the Company is subject to extensive regulation by national, state and local governmental agencies in the United States and in other jurisdictions in which the Company and its affiliates operate. As a result, interaction with governmental agencies is ongoing. The Company’s standard practice is to cooperate with regulators and investigators in responding to inquiries. The outcomes of legal actions are not within the Company’s complete control and may not be known for prolonged periods of time. In some actions, the enforcement agencies or private claimants seek damages, as well as other civil or criminal remedies (including injunctions barring the sale of products that are the subject of the proceeding), that could require significant expenditures, result in lost revenues, or limit the Company's ability to conduct business in the applicable jurisdictions.</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company records a liability in the consolidated financial statements on an undiscounted basis for loss contingencies related to legal actions when a loss is known or considered probable and the amount may be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and may be reasonably estimated, the estimated loss or range of loss is disclosed. When determining the estimated loss or range of loss, significant judgment is required. Estimates of probable losses resulting from litigation and governmental proceedings involving the Company are inherently difficult to predict, particularly when the matters are in early procedural stages, with incomplete scientific facts or legal discovery, involve unsubstantiated or indeterminate claims for damages, potentially involve penalties, fines or punitive damages, or could result in a change in business practice. At </span><span style="font-family:inherit;font-size:10pt;">April 26, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">April 27, 2018</span><span style="font-family:inherit;font-size:10pt;">, accrued litigation was approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$0.5 billion</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$0.9 billion</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. The ultimate cost to the Company with respect to accrued litigation could be materially different than the amount of the current estimates and accruals and could have a material adverse impact on the Company’s consolidated earnings, financial position, and/or cash flows. The Company includes accrued litigation in </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">other accrued expenses</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">other liabilities</span><span style="font-family:inherit;font-size:10pt;"> on the consolidated balance sheets. While it is not possible to predict the outcome for most of the legal matters discussed below, the Company believes it is possible that the costs associated with these matters could have a material adverse impact on the Company’s consolidated earnings, financial position, and/or cash flows.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Product Liability Matters</span></div><div style="line-height:120%;padding-bottom:8px;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Sprint Fidelis</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In 2007, a putative class action was filed in the Ontario Superior Court of Justice in Canada seeking damages for personal injuries allegedly related to the Company's Sprint Fidelis family of defibrillation leads. On October 20, 2009, the court certified a class proceeding but denied class certification on plaintiffs' claim for punitive damages. The Company has recognized an expense for probable and estimable damages related to this matter, and during the fourth quarter of fiscal year 2019 the Company paid out previously accrued settlement amounts with no admission of liability, bringing this matter to a conclusion. </span></div><div style="line-height:120%;padding-bottom:8px;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">INFUSE Litigation</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company estimated law firms representing approximately </span><span style="font-family:inherit;font-size:10pt;"><span>6,000</span></span><span style="font-family:inherit;font-size:10pt;"> claimants asserted or intended to assert personal injury claims against Medtronic in the U.S. state and federal courts involving the INFUSE bone graft product. As of June 1, 2017, the Company </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">had reached agreements to settle substantially all of these claims, and during the fourth quarter of fiscal year 2019 the Company paid out previously accrued settlement amounts with no admission of liability, bringing this matter to a conclusion. </span></div><div style="line-height:120%;padding-bottom:8px;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Pelvic Mesh Litigation</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is currently involved in litigation in various state and federal courts against manufacturers of pelvic mesh products alleging personal injuries resulting from the implantation of those products. </span><span style="font-family:inherit;font-size:10pt;"><span>Two</span></span><span style="font-family:inherit;font-size:10pt;"> subsidiaries of Covidien supplied pelvic mesh products to </span><span style="font-family:inherit;font-size:10pt;"><span>one</span></span><span style="font-family:inherit;font-size:10pt;"> of the manufacturers, C.R. Bard (Bard), named in the litigation. The litigation includes a federal multi-district litigation in the U.S. District Court for the Northern District of West Virginia and cases in various state courts and jurisdictions outside the U.S. Generally, complaints allege design and manufacturing claims, failure to warn, breach of warranty, fraud, violations of state consumer protection laws and loss of consortium claims. In fiscal year 2016, Bard paid the Company </span><span style="font-family:inherit;font-size:10pt;"><span>$121 million</span></span><span style="font-family:inherit;font-size:10pt;"> towards the settlement of </span><span style="font-family:inherit;font-size:10pt;"><span>11,000</span></span><span style="font-family:inherit;font-size:10pt;"> of these claims. In May 2017, the agreement with Bard was amended to extend the terms to apply to up to an additional </span><span style="font-family:inherit;font-size:10pt;"><span>5,000</span></span><span style="font-family:inherit;font-size:10pt;"> claims. That agreement does not resolve the dispute between the Company and Bard with respect to claims that do not settle, if any. As part of the agreement, the Company and Bard agreed to dismiss without prejudice their pending litigation with respect to Bard’s obligation to defend and indemnify the Company. The Company estimates law firms representing approximately </span><span style="font-family:inherit;font-size:10pt;"><span>15,800</span></span><span style="font-family:inherit;font-size:10pt;"> claimants have asserted or may assert claims involving products manufactured by Covidien’s subsidiaries. As of June 1, 2019, the Company had reached agreements to settle approximately </span><span style="font-family:inherit;font-size:10pt;"><span>15,400</span></span><span style="font-family:inherit;font-size:10pt;"> of these claims. The Company's accrued expenses for this matter are included within accrued litigation as discussed above.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Patent Litigation</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Ethicon</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On December 14, 2011, Ethicon filed an action against Covidien in the U.S. District Court for the Southern District of Ohio, alleging patent infringement and seeking monetary damages and injunctive relief. On January 22, 2014, the district court entered summary judgment in Covidien's favor, and the majority of this ruling was affirmed by the Federal Circuit on August 7, 2015. Following appeal, the case was remanded back to the District Court with respect to </span><span style="font-family:inherit;font-size:10pt;"><span>one</span></span><span style="font-family:inherit;font-size:10pt;"> patent. On January 21, 2016, Covidien filed a second action in the U.S. District Court for the Southern District of Ohio, seeking a declaration of non-infringement with respect to a second set of patents held by Ethicon. The court consolidated this second action with the remaining patent issues from the first action. Following consolidation of the cases, Ethicon dismissed </span><span style="font-family:inherit;font-size:10pt;"><span>six</span></span><span style="font-family:inherit;font-size:10pt;"> of the asserted patents, leaving a single asserted patent. In addition to claims of non-infringement, the Company asserts an affirmative defense of invalidity. The Company has not recognized an expense related to damages in connection with this matter, because any potential loss is not currently probable or reasonably estimable under U.S. GAAP. Additionally, the Company is unable to reasonably estimate the range of loss, if any, that may result from this matter.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Sasso</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is involved in litigation in Indiana relating to certain patent and royalty disputes with Dr. Sasso under agreements originally entered into in 1999 and 2001. On November 28, 2018, a jury in Indiana state court returned a verdict against the Company for approximately </span><span style="font-family:inherit;font-size:10pt;"><span>$112 million</span></span><span style="font-family:inherit;font-size:10pt;">. The Company has strong arguments to appeal the verdict and has filed post-trial motions and appeals with the appropriate appellate courts. The Company has not recognized an expense in connection with this matter because it does not currently believe a loss is probable under U.S. GAAP.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Shareholder Related Matters</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Covidien Acquisition</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On July 2, 2014, Lewis Merenstein filed a putative shareholder class action in Hennepin County, Minnesota, District Court seeking to enjoin the then-potential acquisition of Covidien. The lawsuit named Medtronic, Inc., Covidien, and each member of the Medtronic, Inc. Board of Directors at the time as defendants, and alleged that the directors breached their fiduciary duties to shareholders with regard to the then-potential acquisition. On August 21, 2014, Kenneth Steiner filed a putative shareholder class action in Hennepin County, Minnesota, District Court, also seeking an injunction to prevent the potential Covidien acquisition. In September 2014, the </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Merenstein</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Steiner</span><span style="font-family:inherit;font-size:10pt;"> matters were consolidated and in December 2014, the plaintiffs filed a preliminary injunction motion seeking to enjoin the Covidien transaction. On March 20, 2015, the District Court issued an order and opinion granting Medtronic’s motion to dismiss the case. In May of 2015, the plaintiffs filed an appeal, and, in January of 2016, the Minnesota State Court of Appeals affirmed in part, and reversed in part. On April 19, 2016, the Minnesota Supreme Court granted the Company’s petition to review the issue of whether most of the original claims are properly characterized as direct or derivative under Minnesota law. In August of 2017, the Minnesota Supreme Court affirmed the decision of the Minnesota State Court of Appeals, sending the matter back to the trial court for further proceedings, which are ongoing. The Company has not recognized </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">an expense related to damages in connection with this matter, because any potential loss is not currently probable or reasonably estimable under U.S. GAAP. Additionally, the Company is unable to reasonably estimate the range of loss, if any, that may result from these matters.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">HeartWare</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On January 22, 2016, the St. Paul Teachers’ Retirement Fund Association filed a putative class action complaint (the “Complaint”) in the United States District Court for the Southern District of New York against HeartWare on behalf of all persons and entities who purchased or otherwise acquired shares of HeartWare from June 10, 2014 through January 11, 2016 (the “Class Period”). The Complaint was amended on June 29, 2016 and claims HeartWare and one of its executives violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by making false and misleading statements about, among other things, HeartWare’s response to a June 2014 U.S. FDA warning letter, the development of the Miniaturized Ventricular Assist Device (MVAD) System and the proposed acquisition of Valtech Cardio Ltd. The Complaint seeks to recover damages on behalf of all purchasers or acquirers of HeartWare’s stock during the Class Period. In August of 2016, the Company acquired HeartWare. In October of 2018, the parties reached an agreement to settle this matter, and in January 2019, the settlement amount was deposited into a qualified settlement fund to be distributed following final court approval. In the fourth quarter of fiscal year 2019, the court approved the settlement, bringing this matter to a conclusion.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Environmental Proceedings</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is involved in various stages of investigation and cleanup related to environmental remediation matters at a number of sites. These projects relate to a variety of activities, including removal of solvents, metals and other hazardous substances from soil and groundwater. The ultimate cost of site cleanup and timing of future cash flows is difficult to predict given uncertainties regarding the extent of the required cleanup, the interpretation of applicable laws and regulations, and alternative cleanup methods.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company is a successor to a company which owned and operated a chemical manufacturing facility in Orrington, Maine from 1967 until 1982, and is responsible for the costs of completing an environmental site investigation as required by the Maine Department of Environmental Protection (MDEP). MDEP served a compliance order on Mallinckrodt LLC and U.S. Surgical Corporation, subsidiaries of Covidien, in December 2008, which included a directive to remove a significant volume of soils at the site. After a hearing on the compliance order before the Maine Board of Environmental Protection (Maine Board) to challenge the terms of the compliance order, the Maine Board modified the MDEP order and issued a final order requiring removal of </span><span style="font-family:inherit;font-size:10pt;"><span>two</span></span><span style="font-family:inherit;font-size:10pt;"> landfills, capping of the remaining </span><span style="font-family:inherit;font-size:10pt;"><span>three</span></span><span style="font-family:inherit;font-size:10pt;"> landfills, installation of a groundwater extraction system and long-term monitoring of the site and the </span><span style="font-family:inherit;font-size:10pt;"><span>three</span></span><span style="font-family:inherit;font-size:10pt;"> remaining landfills.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has proceeded with implementation of the investigation and remediation at the site in accordance with the MDEP order as modified by the Maine Board order.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Since the early 2000s, the Company or its predecessors have also been involved in a lawsuit filed in the U.S. District Court for the District of Maine by the Natural Resources Defense Council and the Maine People’s Alliance. Plaintiffs sought an injunction requiring the Company's predecessor to conduct extensive studies of mercury contamination of the Penobscot River and Bay and options for remediating such contamination, and to perform appropriate remedial activities, if necessary.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Following a trial in March 2002, the Court held that conditions in the Penobscot River and Bay may pose an imminent and substantial endangerment and that the Company’s predecessor was liable for the cost of performing a study of the River and Bay. Following a second trial in June 2014, the Court ordered that further engineering study and engineering design work was needed to determine the nature and extent of remediation in the Penobscot River and Bay. The Court also appointed an engineering firm to conduct such studies and issue a report on potential remediation alternatives. In connection with these proceedings, reports have been produced including a variety of cost estimates for a variety of potential remedial options. A third trial to determine the course of remediation to be pursued is scheduled to occur in November of 2019.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company's accrued expenses for environmental proceedings are included within accrued litigation as discussed above.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Government Matters</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Since 2017, the Company has been responding to requests from the Department of Justice and U.S. Department of Health and Human Services for information about business practices relating to a neurovascular product developed and first marketed by ev3 and Covidien. The Company has provided information in response to these requests and is cooperating with the inquiry. The Company has not recognized an expense in connection with any ongoing investigation, because any such potential loss is not currently probable or reasonably estimable under U.S. GAAP. Additionally, the Company is unable to reasonably estimate the range of loss, if any, that may result from the ongoing information requests.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:12px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Income Taxes </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In March 2009, the IRS issued its audit report on Medtronic, Inc. for fiscal years 2005 and 2006. Medtronic, Inc. reached agreement with the IRS on some, but not all matters related to these fiscal years. The remaining unresolved issue for fiscal years 2005 and 2006 relates to the allocation of income between Medtronic, Inc. and its wholly-owned subsidiary operating in Puerto Rico, which is one of the Company's key manufacturing sites. The U.S. Tax Court reviewed this dispute, and on June 9, 2016, issued its opinion with respect to the allocation of income between the parties for fiscal years 2005 and 2006. The U.S. Tax Court generally rejected the IRS’s position, but also made certain modifications to the Medtronic, Inc. tax returns as filed. On April 21, 2017, the IRS filed their Notice of Appeal to the U.S. Court of Appeals for the 8th Circuit regarding the Tax Court Opinion. Oral argument for the Appeal occurred on March 14, 2018. The 8th Circuit Court of Appeals issued their opinion on August 16, 2018, and remanded the case back to the U.S. Tax Court for additional factual findings.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In October 2011, the IRS issued its audit report on Medtronic, Inc. for fiscal years 2007 and 2008. Medtronic, Inc. reached agreement with the IRS on some, but not all matters related to these fiscal years. The remaining unresolved issue for fiscal years 2007 and 2008 relates to the allocation of income between Medtronic, Inc. and its wholly-owned subsidiary operating in Puerto Rico for the businesses that are the subject of the U.S. Tax Court Case for fiscal years 2005 and 2006. </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In April 2014, the IRS issued its audit report on Medtronic, Inc. for fiscal years 2009, 2010, and 2011. Medtronic, Inc. reached agreement with the IRS on some but not all matters related to these fiscal years. The remaining unresolved issue for fiscal years 2009, 2010, and 2011 relates to the allocation of income between Medtronic, Inc. and its wholly-owned subsidiary operating in Puerto Rico for the businesses that are the subject of the U.S. Tax Court Case for fiscal years 2005 and 2006. </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In May 2017, the IRS issued its audit report on Medtronic, Inc. for fiscal years 2012, 2013, and 2014. Medtronic, Inc. reached agreement with the IRS on some but not all matters related to these fiscal years. The significant issues that remain unresolved relate to the allocation of income between Medtronic, Inc. and its wholly-owned subsidiary operating in Puerto Rico, and proposed adjustments associated with the utilization of certain net operating losses. The Company disagrees with the IRS and will attempt to resolve these matters at the IRS Appellate level.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Medtronic, Inc.’s fiscal years 2015 and 2016 U.S. federal income tax returns are currently being audited by the IRS.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Covidien and the IRS have concluded and reached agreement on its audit of Covidien’s U.S. federal income tax returns for all tax years through 2012. The statute of limitations for Covidien’s 2013 and 2014 U.S. federal income tax returns lapsed during the first quarter of fiscal years 2018 and 2019, respectively. Covidien's fiscal year 2015 U.S. federal income tax returns are currently being audited by the IRS.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">While it is not possible to predict the outcome for most of the income tax matters discussed above, the Company believes it is possible that charges associated with these matters could have a material adverse impact on the Company’s consolidated earnings, financial position, and/or cash flows.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">See Note </span><span style="font-family:inherit;font-size:10pt;">14</span><span style="font-family:inherit;font-size:10pt;"> for additional discussion of income taxes.</span></div><div style="line-height:120%;padding-bottom:12px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Guarantees</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As a result of the acquisition of Covidien, the Company has a guarantee commitment related to certain contingent tax liabilities as a party to the Tax Sharing Agreement that was entered into on June 29, 2007, between Covidien, Tyco International (now Johnson Controls), and Tyco Electronics (now TE Connectivity), associated with the spin-off from Tyco. The Tax Sharing Agreement covers certain income tax liabilities for periods prior to and including the spin-off. Medtronic’s share of the income tax liabilities for these periods is </span><span style="font-family:inherit;font-size:10pt;"><span>42 percent</span></span><span style="font-family:inherit;font-size:10pt;">, with Johnson Controls and TE Connectivity share being </span><span style="font-family:inherit;font-size:10pt;"><span>27 percent</span></span><span style="font-family:inherit;font-size:10pt;">, and </span><span style="font-family:inherit;font-size:10pt;"><span>31 percent</span></span><span style="font-family:inherit;font-size:10pt;">, respectively. If Johnson Controls and TE Connectivity default on their obligations to the Company under the Tax Sharing Agreement, the Company would be liable for the entire amount of these liabilities. All costs and expenses associated with the management of these tax liabilities are being shared equally among the parties. The most significant amounts at risk under this Tax Sharing Agreement were resolved with the U.S. Tax Court and IRS Appeals resolutions reached in May 2016. However, the Tax Sharing Agreement remains in place with respect to income tax liabilities that are not the subject of such resolution, including certain state and international tax matters that remain open.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company has used available information to develop its best estimates for certain assets and liabilities related to periods prior to the 2007 separation, including amounts subject to or impacted by the provisions of the Tax Sharing Agreement. The actual amounts that the Company may be required to ultimately accrue or pay under the Tax Sharing Agreement, however, could vary depending upon the outcome of the unresolved tax matters. Final determination of the balances will be made in subsequent periods, </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">primarily related to tax years that remain open for examination. These balances will also be impacted by the filing of final or amended income tax returns in certain jurisdictions where those returns include a combination of Tyco International, Covidien and/or Tyco Electronics legal entities for periods prior to the 2007 separation.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As part of the Company’s sale of the Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency businesses to Cardinal on July 29, 2017, the Company has indemnified Cardinal for certain contingent tax liabilities related to the divested businesses that existed prior to the date of divestiture. The actual amounts that the Company may be required to ultimately accrue or pay could vary depending upon the outcome of the unresolved tax matters.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In the normal course of business, the Company and/or its affiliates periodically enter into agreements that require one or more of the Company and/or its affiliates to indemnify customers or suppliers for specific risks, such as claims for injury or property damage arising as a result of the Company or its affiliates’ products, the negligence of the Company's personnel, or claims alleging that the Company's products infringe on third-party patents or other intellectual property. The Company also offers warranties on various products. The Company’s maximum exposure under these guarantees is unable to be estimated. Historically, the Company has not experienced significant losses on these types of guarantees.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company believes the ultimate resolution of the above guarantees is not expected to have a material effect on the Company’s consolidated earnings, financial position, or cash flows.</span></div>
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CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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6880000000 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2017 us-gaap Payments To Acquire Property Plant And Equipment
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1254000000 USD
CY2017 us-gaap Payments To Acquire Investments
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CY2017 us-gaap Proceeds From Sale Maturity And Collections Of Investments
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5356000000 USD
CY2017 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
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0 USD
CY2017 us-gaap Payments For Proceeds From Other Investing Activities
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CY2017 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In Three Months Or Less
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CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2017 us-gaap Repayments Of Long Term Debt
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CY2017 us-gaap Payments Of Dividends Common Stock
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CY2017 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
428000000 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
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3544000000 USD
CY2017 mdt Increase Decreasein Intercompany Payable
IncreaseDecreaseinIntercompanyPayable
0 USD
CY2017 mdt Intercompany Dividends Paid
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0 USD
CY2017 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
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65000000 USD
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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2091000000 USD
CY2016Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2876000000 USD
CY2017Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4967000000 USD

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