$MDT
Medtronic plc

2021 Q2 Form 10-K Financial Statement

#000161310321000027 Filed on June 25, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2019 Q2
Revenue $8.188B $5.998B $8.146B
YoY Change 36.51% -26.37% 0.02%
Cost Of Revenue $2.620B $2.232B $2.450B
YoY Change 17.38% -8.9% 2.81%
Gross Profit $5.568B $3.734B $5.663B
YoY Change 49.12% -34.06% -1.44%
Gross Profit Margin 68.0% 62.25% 69.52%
Selling, General & Admin $2.348B $2.310B $2.640B
YoY Change 1.65% -12.5% 4.22%
% of Gross Profit 42.17% 61.86% 46.62%
Research & Development $632.0M $568.0M $594.0M
YoY Change 11.27% -4.38% 0.34%
% of Gross Profit 11.35% 15.21% 10.49%
Depreciation & Amortization $684.0M $672.0M $667.0M
YoY Change 1.79% 0.75% 0.45%
% of Gross Profit 12.28% 18.0% 11.78%
Operating Expenses $3.625B $3.307B $3.488B
YoY Change 9.62% -5.19% -6.21%
Operating Profit $1.943B $427.0M $2.175B
YoY Change 355.04% -80.37% 7.3%
Interest Expense -$94.00M -$16.00M -$99.00M
YoY Change 487.5% -83.84% -71.3%
% of Operating Profit -4.84% -3.75% -4.55%
Other Income/Expense, Net $55.00M -$11.00M -$17.00M
YoY Change -600.0% -35.29% -107.26%
Pretax Income $1.566B $205.0M $1.292B
YoY Change 663.9% -84.13% -25.1%
Income Tax $200.0M -$401.0M $115.0M
% Of Pretax Income 12.77% -195.61% 8.9%
Net Earnings $1.360B $646.0M $1.172B
YoY Change 110.53% -44.88% -19.73%
Net Earnings / Revenue 16.61% 10.77% 14.39%
Basic Earnings Per Share $0.48 $0.87
Diluted Earnings Per Share $1.002M $0.48 $0.87
COMMON SHARES
Basic Shares Outstanding 1.344B shares 1.341B shares 1.341B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.82B $10.95B $9.848B
YoY Change -1.2% 11.17% -12.28%
Cash & Equivalents $3.593B $4.140B $4.393B
Short-Term Investments $7.224B $6.808B $5.455B
Other Short-Term Assets $1.955B $2.209B $2.144B
YoY Change -11.5% 3.03% -1.97%
Inventory $4.313B $4.229B $3.753B
Prepaid Expenses
Receivables $5.462B $4.645B $6.222B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $22.55B $22.03B $21.97B
YoY Change 2.35% 0.29% -4.41%
LONG-TERM ASSETS
Property, Plant & Equipment $5.221B $4.828B $4.675B
YoY Change 8.14% 3.27% 1.54%
Goodwill $41.96B $39.84B $39.96B
YoY Change 5.32% -0.3% 1.05%
Intangibles $17.74B $19.06B $20.56B
YoY Change -6.94% -7.28% -5.35%
Long-Term Investments $687.0M $480.0M $372.0M
YoY Change 43.13% 29.03% 1966.67%
Other Assets $2.443B $2.094B $1.014B
YoY Change 16.67% 106.51% -5.94%
Total Long-Term Assets $70.54B $68.66B $67.73B
YoY Change 2.73% 1.37% -1.0%
TOTAL ASSETS
Total Short-Term Assets $22.55B $22.03B $21.97B
Total Long-Term Assets $70.54B $68.66B $67.73B
Total Assets $93.08B $90.69B $89.69B
YoY Change 2.64% 1.11% -1.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.106B $1.996B $1.953B
YoY Change 5.51% 2.2% 19.96%
Accrued Expenses $5.681B $4.839B $4.885B
YoY Change 17.4% -0.94% -6.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.00M $2.776B $838.0M
YoY Change -99.6% 231.26% -59.28%
Total Short-Term Liabilities $8.509B $10.37B $8.472B
YoY Change -17.91% 22.36% -15.99%
LONG-TERM LIABILITIES
Long-Term Debt $26.38B $22.14B $24.55B
YoY Change 19.14% -9.82% 3.63%
Other Long-Term Liabilities $1.756B $1.664B $757.0M
YoY Change 5.53% 119.82% -14.85%
Total Long-Term Liabilities $1.756B $23.80B $25.31B
YoY Change -92.62% -5.95% 2.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.509B $10.37B $8.472B
Total Long-Term Liabilities $1.756B $23.80B $25.31B
Total Liabilities $41.48B $39.82B $39.48B
YoY Change 4.18% 0.85% -2.68%
SHAREHOLDERS EQUITY
Retained Earnings $28.59B $28.13B $26.27B
YoY Change 1.64% 7.09% 7.76%
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 $51.43B $50.74B $50.09B
YoY Change
Total Liabilities & Shareholders Equity $93.08B $90.69B $89.69B
YoY Change 2.64% 1.11% -1.86%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $1.360B $646.0M $1.172B
YoY Change 110.53% -44.88% -19.73%
Depreciation, Depletion And Amortization $684.0M $672.0M $667.0M
YoY Change 1.79% 0.75% 0.45%
Cash From Operating Activities $1.745B $1.450B $2.087B
YoY Change 20.34% -30.52% 101.06%
INVESTING ACTIVITIES
Capital Expenditures -$377.0M -$336.0M -$335.0M
YoY Change 12.2% 0.3% 14.73%
Acquisitions
YoY Change
Other Investing Activities $2.296B $701.0M -$194.0M
YoY Change 227.53% -461.34% -148.14%
Cash From Investing Activities $1.919B $365.0M -$529.0M
YoY Change 425.75% -169.0% -576.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.129B -1.310B -860.0M
YoY Change 291.53% 52.33% -77.53%
NET CHANGE
Cash From Operating Activities 1.745B 1.450B 2.087B
Cash From Investing Activities 1.919B 365.0M -529.0M
Cash From Financing Activities -5.129B -1.310B -860.0M
Net Change In Cash -1.465B 505.0M 698.0M
YoY Change -390.1% -27.65% -126.05%
FREE CASH FLOW
Cash From Operating Activities $1.745B $1.450B $2.087B
Capital Expenditures -$377.0M -$336.0M -$335.0M
Free Cash Flow $2.122B $1.786B $2.422B
YoY Change 18.81% -26.26% 82.11%

Facts In Submission

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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.
CY2021 us-gaap Fiscal Period
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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 April 30, 2021 and April 24, 2020 and for each of the three fiscal years ended April 30, 2021 (fiscal year 2021), April 24, 2020 (fiscal year 2020), and April 26, 2019 (fiscal year 2019). Fiscal year 2021 was a 53-week year, with the extra week having occurred in the first fiscal month of the first quarter. Fiscal years 2020 and 2019 were 52-week years.
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CY2020 us-gaap Deferred Income Tax Expense Benefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2021 us-gaap Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2021Q2 mdt Deferred Tax Assets Operating And Capital Losses And Tax Credit Carryforwards
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CY2020Q2 mdt Deferred Tax Assets Operating And Capital Losses And Tax Credit Carryforwards
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CY2021Q2 mdt Deferred Tax Assets Research And Development Capitalization
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408000000 USD
CY2020Q2 mdt Deferred Tax Assets Research And Development Capitalization
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CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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CY2020Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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390000000 USD
CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
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CY2020Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
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CY2021Q2 mdt Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits And Pensions
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234000000 USD
CY2020Q2 mdt Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits And Pensions
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CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2020Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2021Q2 us-gaap Deferred Tax Assets Inventory
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CY2020Q2 us-gaap Deferred Tax Assets Inventory
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CY2021Q2 mdt Deferred Tax Assets Lease Obligations
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CY2020Q2 mdt Deferred Tax Assets Lease Obligations
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CY2021Q2 mdt Deferred Tax Assets Tax Deferred Expense Federal And State Benefit On Uncertain Tax Positions
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55000000 USD
CY2020Q2 mdt Deferred Tax Assets Tax Deferred Expense Federal And State Benefit On Uncertain Tax Positions
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CY2021Q2 mdt Deferred Tax Assets Interest Limitation
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CY2020Q2 mdt Deferred Tax Assets Interest Limitation
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CY2021Q2 us-gaap Deferred Tax Assets Other
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CY2020Q2 us-gaap Deferred Tax Assets Other
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CY2020Q2 us-gaap Deferred Tax Assets Gross
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CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2020Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021Q2 us-gaap Deferred Tax Assets Net
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CY2020Q2 us-gaap Deferred Tax Assets Net
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320000000 USD
CY2020Q2 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
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CY2021Q2 us-gaap Deferred Tax Liabilities Derivatives
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CY2020Q2 us-gaap Deferred Tax Liabilities Derivatives
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CY2020Q2 us-gaap Deferred Tax Liabilities Leasing Arrangements
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CY2021Q2 mdt Deferred Tax Liabilities Unrealized Gains On Trading Securities And Derivatives
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CY2021Q2 mdt Deferred Tax Liabilities Investment In Subsidiaries
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101000000 USD
CY2020Q2 mdt Deferred Tax Liabilities Investment In Subsidiaries
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CY2021Q2 us-gaap Deferred Tax Liabilities Other
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CY2020Q2 us-gaap Deferred Tax Liabilities Other
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110000000 USD
CY2021Q2 us-gaap Deferred Income Tax Liabilities
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CY2020Q2 us-gaap Deferred Income Tax Liabilities
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CY2021Q2 us-gaap Prepaid Taxes
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CY2020Q2 us-gaap Prepaid Taxes
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CY2021Q2 us-gaap Income Tax Receivable
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CY2021Q2 us-gaap Deferred Tax Assets Liabilities Net
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756000000 USD
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780000000 USD
CY2021Q2 us-gaap Deferred Income Tax Assets Net
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CY2020Q2 us-gaap Deferred Income Tax Assets Net
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CY2021Q2 us-gaap Deferred Income Tax Liabilities Net
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CY2021Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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CY2020Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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CY2021Q2 us-gaap Tax Credit Carryforward Amount
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CY2021Q2 mdt Deferred Tax Assets Tax Credit Carryforwards Not Subjectto Expiration
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CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2020Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2021 mdt Effective Income Tax Rate Reconciliation Puerto Rico Excise Tax
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CY2020 mdt Effective Income Tax Rate Reconciliation Puerto Rico Excise Tax
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CY2019 mdt Effective Income Tax Rate Reconciliation Puerto Rico Excise Tax
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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0.004
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 mdt Effective Income Tax Rate Reconciliation Interest On Uncertain Tax Positions Percent
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0.009
CY2020 mdt Effective Income Tax Rate Reconciliation Interest On Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationInterestOnUncertainTaxPositionsPercent
0.013
CY2019 mdt Effective Income Tax Rate Reconciliation Interest On Uncertain Tax Positions Percent
EffectiveIncomeTaxRateReconciliationInterestOnUncertainTaxPositionsPercent
0.009
CY2021 mdt Effective Income Tax Rate Reconciliation Base Erosion And Anti Abuse Tax Percent
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0.005
CY2020 mdt Effective Income Tax Rate Reconciliation Base Erosion And Anti Abuse Tax Percent
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0.026
CY2019 mdt Effective Income Tax Rate Reconciliation Base Erosion And Anti Abuse Tax Percent
EffectiveIncomeTaxRateReconciliationBaseErosionAndAntiAbuseTaxPercent
0.001
CY2021 mdt Effective Income Tax Rate Reconciliation Deduction Foreign Derived Intangible Income Percent
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0.019
CY2020 mdt Effective Income Tax Rate Reconciliation Deduction Foreign Derived Intangible Income Percent
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0.012
CY2019 mdt Effective Income Tax Rate Reconciliation Deduction Foreign Derived Intangible Income Percent
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0.006
CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
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0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges
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0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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0.034
CY2020 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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0.028
CY2019 us-gaap Effective Income Tax Rate Reconciliation Repatriation Of Foreign Earnings
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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0.068
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
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CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Tax Adjustments Settlements And Unusual Provisions
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CY2021 us-gaap Income Tax Reconciliation Tax Settlements
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CY2021 mdt Effective Income Tax Rate Reconciliation Tax Basis Adjustment Of Deferred Tax Assets Amount
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73000000 USD
CY2021Q2 mdt Deferred Tax Assets Goodwill And Intangible Assets Previously Recognized
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CY2021 mdt Deferred Tax Asset Amortization Period
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Amortization
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50000000 USD
CY2021 mdt Effective Income Tax Rate Reconciliation Nondeductible Expense Restructuring Charges And Disposition Of Assets
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25000000 USD
CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
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CY2020 us-gaap Tax Adjustments Settlements And Unusual Provisions
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CY2020 us-gaap Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Reconciliation Tax Contingencies Foreign
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CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 mdt Tax Expense Benefit Associated With Saleof Intellectual Property
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CY2019 us-gaap Tax Adjustments Settlements And Unusual Provisions
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CY2019 us-gaap Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
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CY2019 us-gaap Tax Cuts And Jobs Act Of2017 Change In Tax Rate Deferred Tax Asset Income Tax Expense
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42000000 USD
CY2019 mdt Tax Expense Benefit Associated With Intercompany Legal Entity Restructuring
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CY2019 us-gaap Income Tax Reconciliation Disposition Of Business
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CY2021Q2 us-gaap Unrecognized Tax Benefits
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CY2020Q2 us-gaap Unrecognized Tax Benefits
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CY2019Q2 us-gaap Unrecognized Tax Benefits
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1800000000 USD
CY2020Q2 us-gaap Unrecognized Tax Benefits
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CY2019Q2 us-gaap Unrecognized Tax Benefits
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CY2018Q2 us-gaap Unrecognized Tax Benefits
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CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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12000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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34000000 USD
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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62000000 USD
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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55000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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109000000 USD
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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106000000 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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216000000 USD
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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5000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
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CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2020 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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27000000 USD
CY2019 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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CY2021Q2 us-gaap Unrecognized Tax Benefits
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CY2020Q2 us-gaap Unrecognized Tax Benefits
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CY2019Q2 us-gaap Unrecognized Tax Benefits
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CY2021 mdt Cash Advance Paidin Connection With Proposed Settlements
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859000000 USD
CY2020 mdt Cash Advance Paidin Connection With Proposed Settlements
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859000000 USD
CY2019 mdt Cash Advance Paidin Connection With Proposed Settlements
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859000000 USD
CY2021Q2 mdt Unrecognized Tax Benefits Netof Cash Advance Paid
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CY2020Q2 mdt Unrecognized Tax Benefits Netof Cash Advance Paid
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1003000000 USD
CY2019Q2 mdt Unrecognized Tax Benefits Netof Cash Advance Paid
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977000000 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2020Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2019Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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1800000000 USD
CY2021Q2 us-gaap Liability For Uncertain Tax Positions Noncurrent
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CY2021Q2 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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99000000 USD
CY2020Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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225000000 USD
CY2019Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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172000000 USD
CY2021 us-gaap Income Tax Examination Interest Expense
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CY2020 us-gaap Income Tax Examination Interest Expense
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CY2019 us-gaap Income Tax Examination Interest Expense
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CY2021 us-gaap Net Income Loss
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CY2020 us-gaap Net Income Loss
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CY2019 us-gaap Net Income Loss
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CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
7600000 shares
CY2021 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
2100000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
2800000 shares
CY2019 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
3200000 shares
CY2021 mdt Incremental Common Shares Attributableto Dilutive Effectof Other Shares
IncrementalCommonSharesAttributabletoDilutiveEffectofOtherShares
500000 shares
CY2020 mdt Incremental Common Shares Attributableto Dilutive Effectof Other Shares
IncrementalCommonSharesAttributabletoDilutiveEffectofOtherShares
400000 shares
CY2019 mdt Incremental Common Shares Attributableto Dilutive Effectof Other Shares
IncrementalCommonSharesAttributabletoDilutiveEffectofOtherShares
300000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1354000000.0 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1351100000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1357500000 shares
CY2021 us-gaap Earnings Per Share Basic
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2.68
CY2020 us-gaap Earnings Per Share Basic
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3.57
CY2019 us-gaap Earnings Per Share Basic
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3.44
CY2021 us-gaap Earnings Per Share Diluted
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2.66
CY2020 us-gaap Earnings Per Share Diluted
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Commitments and Contingencies <div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Legal Matters</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, 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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">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. The Company classifies litigation charges and gains related to significant legal matters as certain litigation charges. During fiscal years 2021, 2020, and 2019, the Company recognized $118 million, $313 million, and $166 million, respectively, of certain litigation charges. At April 30, 2021 and April 24, 2020, accrued litigation was approximately $0.4 billion and $0.5 billion, 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="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">other accrued expenses</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">other liabilities</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> 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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Product Liability Matters</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Pelvic Mesh Litigation</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. Two subsidiaries of Covidien supplied pelvic mesh products to one 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 $121 million towards the settlement of 11,000 of these claims. In May 2017, the agreement with Bard was amended to extend the terms to apply to up to an additional 5,000 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 16,200 claimants have asserted or may assert claims involving products manufactured by Covidien’s subsidiaries. As of June 2, 2021, the Company had reached agreements to settle approximately 15,900 of these claims. The Company's accrued expenses for this matter are included within accrued litigation as discussed above.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Hernia Mesh Litigation</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Starting in fiscal year 2020, plaintiffs filed lawsuits against certain subsidiaries of the Company in U.S. state and federal courts alleging personal injury from hernia mesh products sold by those subsidiaries. The majority of the pending cases are in Massachusetts state court, where they have been consolidated before a single judge. Certain plaintiffs' law firms have advised the Company that they may file a large volume of additional cases in the future. The pending lawsuits relate almost entirely to hernia mesh products that have not been subject to recalls, withdrawals or other adverse regulatory action. The Company has not recorded an expense related to damages in connection with these matters 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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Patent Litigation</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Ethicon</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 one 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 six of the asserted patents, leaving a single asserted patent. In March 2021, the consolidated action was dismissed with prejudice, pursuant to a settlement agreement. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Sasso</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 $112 million. On June 15, 2021, pursuant to an order from the state court, the Company paid the judgment plus accrued interest to Dr. Sasso, subject to repayment if the Company's ongoing appeal is successful. </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Shareholder Related Matters</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Covidien Acquisition</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Merenstein</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Steiner</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> matters were consolidated. In April 2021, the parties reach an agreement to resolve this matter, bringing it to a conclusion. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Environmental Proceedings</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 two landfills, capping of the remaining three landfills, installation of a groundwater extraction system and long-term monitoring of the site and the three remaining landfills.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. In March 2021, the parties notified the Court that they had agreed on a settlement in principle of all issues in this matter. Finalization of the proposed settlement remains subject to a fairness hearing and Court approval. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's accrued expenses for environmental proceedings are included within accrued litigation as discussed above.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Income Taxes</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. The U.S. Tax Court trial was held in June 2021.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. During January 2021, Medtronic, Inc. and the IRS resolved the outstanding matters related to the allocation of income between Medtronic, Inc. and its wholly-owned subsidiary operating in Puerto Rico for the businesses that are not the subject of the U.S. Tax Court Case and the utilization of certain net operating losses.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The remaining unresolved issue for fiscal years 2012, 2013 and 2014 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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2020, the IRS issued its audit report on Medtronic, Inc. for fiscal years 2015 and 2016. Medtronic, Inc. reached agreement with the IRS on some but not all matters related to these fiscal years. The significant issue that remains unresolved 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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Medtronic, Inc.’s fiscal years 2017, 2018, and 2019 U.S. federal income tax returns are currently being audited by the IRS.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In January 2021, the IRS issued its audit report for Covidien's fiscal year 2015 U.S. federal income tax returns.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Covidien reached agreement with the IRS on all matters related to fiscal year 2015. The statute of limitations for Covidien's 2016 and 2017 U.S. federal income tax returns lapsed during the third quarter of fiscal year 2020 and 2021, respectively. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 13 for additional discussion of income taxes.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Guarantees</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, and/or cash flows.</span></div>
CY2021 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
118000000 USD
CY2020 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
313000000 USD
CY2019 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
166000000 USD
CY2021Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
400000000 USD
CY2020Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
500000000 USD
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4 segment
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
3895000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4055000000 USD
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5197000000 USD
CY2021Q2 us-gaap Assets
Assets
93083000000 USD
CY2020Q2 us-gaap Assets
Assets
90689000000 USD
CY2021 us-gaap Depreciation
Depreciation
919000000 USD
CY2020 us-gaap Depreciation
Depreciation
907000000 USD
CY2019 us-gaap Depreciation
Depreciation
895000000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30117000000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28913000000 USD
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
30557000000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5221000000 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4828000000 USD
CY2020 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
187000000 USD
CY2019 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
463000000 USD

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