$MDT
Medtronic plc Stock $mdt

$mdt Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000161310322000046 Filed on September 01, 2022

Income Statement

Concept	2022 Q3	2021 Q3
Revenue	$7.371B	$7.987B
YoY Change	-7.71%	22.74%
Cost Of Revenue	$2.467B	$2.598B
YoY Change	-5.04%	4.84%
Gross Profit	$4.904B	$5.389B
YoY Change	-9.0%	33.76%
Gross Profit Margin	66.53%	67.47%
Selling, General & Admin	$2.519B	$2.547B
YoY Change	-1.1%	7.47%
% of Gross Profit	51.37%	47.26%
Research & Development	$692.0M	$750.0M
YoY Change	-7.73%	20.77%
% of Gross Profit	14.11%	13.92%
Depreciation & Amortization	$668.0M	$671.0M
YoY Change	-0.45%	0.3%
% of Gross Profit	13.62%	12.45%
Operating Expenses	$3.576B	$3.297B
YoY Change	8.46%	-0.6%
Operating Profit	$1.328B	$859.0M
YoY Change	54.6%	20.65%
Interest Expense	-$164.0M	$137.0M
YoY Change	-219.71%	-215.13%
% of Operating Profit	-12.35%	15.95%
Other Income/Expense, Net	$83.00M	$111.0M
YoY Change	-25.23%	270.0%
Pretax Income	$1.044B	$833.0M
YoY Change	25.33%	42.64%
Income Tax	$112.0M	$64.00M
% Of Pretax Income	10.73%	7.68%
Net Earnings	$930.0M	$763.0M
YoY Change	21.89%	56.67%
Net Earnings / Revenue	12.62%	9.55%
Basic Earnings Per Share	$0.70	$0.57
Diluted Earnings Per Share	$696.9K	$0.56
COMMON SHARES
Basic Shares Outstanding	1.329B shares	1.345B shares
Diluted Shares Outstanding	1.335B shares	1.356B shares

Balance Sheet

Concept	2022 Q3	2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$8.873B	$10.60B
YoY Change	-16.25%	-18.58%
Cash & Equivalents	$2.140B	$3.004B
Short-Term Investments	$6.733B	$7.591B
Other Short-Term Assets	$3.145B	$2.120B
YoY Change	48.35%	2.42%
Inventory	$4.809B	$4.288B
Prepaid Expenses
Receivables	$5.308B	$5.431B
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$22.14B	$22.43B
YoY Change	-1.33%	-8.47%
LONG-TERM ASSETS
Property, Plant & Equipment	$5.281B	$5.162B
YoY Change	2.31%	5.74%
Goodwill	$40.32B	$41.72B
YoY Change	-3.35%	2.47%
Intangibles	$15.78B	$16.89B
YoY Change	-6.6%	-9.53%
Long-Term Investments	$880.0M	$692.0M
YoY Change	27.17%	21.4%
Other Assets	$6.399B	$2.409B
YoY Change	165.63%	12.41%
Total Long-Term Assets	$67.78B	$69.37B
YoY Change	-2.29%	-0.04%
TOTAL ASSETS
Total Short-Term Assets	$22.14B	$22.43B
Total Long-Term Assets	$67.78B	$69.37B
Total Assets	$89.91B	$91.80B
YoY Change	-2.06%	-2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.180B	$1.864B
YoY Change	16.95%	8.37%
Accrued Expenses	$5.589B	$5.553B
YoY Change	0.65%	7.76%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$5.729B	$6.000M
YoY Change	95383.33%	-99.9%
Total Short-Term Liabilities	$14.05B	$7.764B
YoY Change	80.92%	-40.67%
LONG-TERM LIABILITIES
Long-Term Debt	$17.48B	$25.96B
YoY Change	-32.66%	13.52%
Other Long-Term Liabilities	$4.644B	$1.579B
YoY Change	194.11%	-1.19%
Total Long-Term Liabilities	$22.13B	$1.579B
YoY Change	1301.2%	-1.19%
TOTAL LIABILITIES
Total Short-Term Liabilities	$14.05B	$7.764B
Total Long-Term Liabilities	$22.13B	$1.579B
Total Liabilities	$37.24B	$40.14B
YoY Change	-7.22%	-7.65%
SHAREHOLDERS EQUITY
Retained Earnings	$30.28B	$28.51B
YoY Change	6.19%	2.49%
Common Stock	$0.00	$0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$52.67B	$51.49B
YoY Change
Total Liabilities & Shareholders Equity	$89.91B	$91.80B
YoY Change	-2.06%	-2.24%

Cashflow Statement

Concept	2022 Q3	2021 Q3
OPERATING ACTIVITIES
Net Income	$930.0M	$763.0M
YoY Change	21.89%	56.67%
Depreciation, Depletion And Amortization	$668.0M	$671.0M
YoY Change	-0.45%	0.3%
Cash From Operating Activities	$1.083B	$1.292B
YoY Change	-16.18%	364.75%
INVESTING ACTIVITIES
Capital Expenditures	-$426.0M	$378.0M
YoY Change	-212.7%	-213.17%
Acquisitions	$1.191B	$0.00
YoY Change
Other Investing Activities	-$1.159B	$76.00M
YoY Change	-1625.0%	-77.78%
Cash From Investing Activities	-$1.585B	-$784.0M
YoY Change	102.17%	-9900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net	-$293.0M	$315.0M
YoY Change	-193.02%
Debt Paid & Issued, Net	$2.311B	$1.000M
YoY Change	231000.0%
Cash From Financing Activities	-950.0M	-$1.055B
YoY Change	-9.95%	-153.85%
NET CHANGE
Cash From Operating Activities	1.083B	$1.292B
Cash From Investing Activities	-1.585B	-$784.0M
Cash From Financing Activities	-950.0M	-$1.055B
Net Change In Cash	-1.452B	-$589.0M
YoY Change	146.52%	-126.24%
FREE CASH FLOW
Cash From Operating Activities	$1.083B	$1.292B
Capital Expenditures	-$426.0M	$378.0M
Free Cash Flow	$1.509B	$914.0M
YoY Change	65.1%	49.35%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2022Q3	dei	Entity Central Index Key EntityCentralIndexKey	0001613103
CY2022Q3	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--04-28
CY2022Q3	dei	Amendment Flag AmendmentFlag	false
CY2022Q3	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2022Q3	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2022Q3	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	D02 XH02
CY2022Q3	dei	Document Type DocumentType	10-Q
CY2022Q3	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2022Q3	dei	Document Period End Date DocumentPeriodEndDate	2022-07-29
CY2022Q3	dei	Document Transition Report DocumentTransitionReport	false
CY2022Q3	dei	Entity File Number EntityFileNumber	001-36820
CY2022Q3	dei	Entity Registrant Name EntityRegistrantName	Medtronic plc
CY2022Q3	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	L2
CY2022Q3	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	98-1183488
CY2022Q3	dei	Entity Address Address Line1 EntityAddressAddressLine1	20 On Hatch, Lower Hatch Street
CY2022Q3	dei	Entity Address City Or Town EntityAddressCityOrTown	Dublin 2
CY2022Q3	dei	Entity Address Country EntityAddressCountry	IE
CY2022Q3	dei	Country Region CountryRegion	353
CY2022Q3	dei	City Area Code CityAreaCode	1
CY2022Q3	dei	Local Phone Number LocalPhoneNumber	438-1700
CY2022Q3	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022Q3	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022Q3	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2022Q3	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2022Q3	dei	Entity Small Business EntitySmallBusiness	false
CY2022Q3	dei	Entity Shell Company EntityShellCompany	false
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	1329153289	shares
CY2022Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	7371000000	usd
CY2021Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	7987000000	usd
CY2022Q3	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	2516000000	usd
CY2021Q3	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	2598000000	usd
CY2022Q3	us-gaap	Research And Development Expense Excluding Acquired In Process Cost ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost	692000000	usd
CY2021Q3	us-gaap	Research And Development Expense Excluding Acquired In Process Cost ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost	750000000	usd
CY2022Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2567000000	usd
CY2021Q3	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	2547000000	usd
CY2022Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	423000000	usd
CY2021Q3	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	436000000	usd
CY2022Q3	mdt	Restructuring Charges Net Of Restructuring Reversals Including Cost Of Product Sold Impact RestructuringChargesNetOfRestructuringReversalsIncludingCostOfProductSoldImpact	14000000	usd
CY2021Q3	mdt	Restructuring Charges Net Of Restructuring Reversals Including Cost Of Product Sold Impact RestructuringChargesNetOfRestructuringReversalsIncludingCostOfProductSoldImpact	11000000	usd
CY2022Q3	us-gaap	Loss Contingency Accrual Provision LossContingencyAccrualProvision	0	usd
CY2021Q3	us-gaap	Loss Contingency Accrual Provision LossContingencyAccrualProvision	26000000	usd
CY2022Q3	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-35000000	usd
CY2021Q3	us-gaap	Other Operating Income Expense Net OtherOperatingIncomeExpenseNet	-760000000	usd
CY2022Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	1125000000	usd
CY2021Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	859000000	usd
CY2022Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	83000000	usd
CY2021Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	111000000	usd
CY2022Q3	us-gaap	Interest Expense InterestExpense	164000000	usd
CY2021Q3	us-gaap	Interest Expense InterestExpense	137000000	usd
CY2022Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1044000000	usd
CY2021Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	833000000	usd
CY2022Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	112000000	usd
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CY2021Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	64000000	usd
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CY2021Q3	us-gaap	Profit Loss ProfitLoss	769000000	usd
CY2022Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	2000000	usd
CY2021Q3	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	6000000	usd
CY2022Q3	us-gaap	Net Income Loss NetIncomeLoss	929000000	usd
CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	763000000	usd
CY2022Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.70
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.57
CY2022Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.70
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.56
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1329400000	shares
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1344500000	shares
CY2022Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1334500000	shares
CY2021Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1356400000	shares
CY2022Q3	us-gaap	Profit Loss ProfitLoss	931000000	usd
CY2021Q3	us-gaap	Profit Loss ProfitLoss	769000000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-16000000	usd
CY2021Q3	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	12000000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax	-884000000	usd
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CY2022Q3	mdt	Other Comprehensive Income Loss Unrealized Gain Loss On Derivatives Arising During Period Net Investment Hedge Net Of Tax OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetInvestmentHedgeNetOfTax	1002000000	usd
CY2021Q3	mdt	Other Comprehensive Income Loss Unrealized Gain Loss On Derivatives Arising During Period Net Investment Hedge Net Of Tax OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetInvestmentHedgeNetOfTax	424000000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	-1000000	usd
CY2021Q3	us-gaap	Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax	-19000000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax	220000000	usd
CY2021Q3	us-gaap	Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax	174000000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	324000000	usd
CY2021Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	274000000	usd
CY2022Q3	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	1255000000	usd
CY2021Q3	us-gaap	Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest	1043000000	usd
CY2022Q3	us-gaap	Revenue Performance Obligation Description Of Timing RevenuePerformanceObligationDescriptionOfTiming	three years
CY2022Q3	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	0	usd
CY2021Q3	us-gaap	Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest	4000000	usd
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CY2021Q3	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	1039000000	usd
CY2022Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2140000000	usd
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	3714000000	usd
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CY2022Q2	us-gaap	Other Assets Current OtherAssetsCurrent	2318000000	usd
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CY2022Q3	us-gaap	Common Stock Value CommonStockValue	0	usd
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CY2022Q3	us-gaap	Minority Interest MinorityInterest	170000000	usd
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CY2022Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	52843000000	usd
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	52722000000	usd
CY2022Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	89914000000	usd
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	90981000000	usd
CY2022Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	52722000000	usd
CY2022Q3	us-gaap	Profit Loss ProfitLoss	931000000	usd
CY2022Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	324000000	usd
CY2022Q3	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.68
CY2022Q3	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	903000000	usd
CY2022Q3	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	41000000	usd
CY2022Q3	us-gaap	Stock Repurchased And Retired During Period Value StockRepurchasedAndRetiredDuringPeriodValue	333000000	usd
CY2022Q3	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	62000000	usd
CY2022Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	52843000000	usd
CY2021Q2	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	51602000000	usd
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CY2021Q3	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	274000000	usd
CY2021Q3	us-gaap	Common Stock Dividends Per Share Declared CommonStockDividendsPerShareDeclared	0.63
CY2021Q3	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	846000000	usd
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CY2021Q3	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	51664000000	usd
CY2022Q3	us-gaap	Profit Loss ProfitLoss	931000000	usd
CY2021Q3	us-gaap	Profit Loss ProfitLoss	769000000	usd
CY2022Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	668000000	usd
CY2021Q3	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	671000000	usd
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CY2021Q3	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	15000000	usd
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CY2021Q3	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	-11000000	usd
CY2022Q3	us-gaap	Share Based Compensation ShareBasedCompensation	62000000	usd
CY2021Q3	us-gaap	Share Based Compensation ShareBasedCompensation	69000000	usd
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CY2021Q3	mdt	Asset Impairment Charges And Inventory Write Down AssetImpairmentChargesAndInventoryWriteDown	515000000	usd
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CY2021Q3	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-116000000	usd
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CY2021Q3	us-gaap	Increase Decrease In Accounts And Notes Receivable IncreaseDecreaseInAccountsAndNotesReceivable	40000000	usd
CY2022Q3	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	380000000	usd
CY2021Q3	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	75000000	usd
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CY2021Q3	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-416000000	usd
CY2022Q3	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	311000000	usd
CY2021Q3	us-gaap	Increase Decrease In Other Operating Capital Net IncreaseDecreaseInOtherOperatingCapitalNet	321000000	usd
CY2022Q3	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1083000000	usd
CY2021Q3	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	1292000000	usd
CY2022Q3	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	1191000000	usd
CY2021Q3	us-gaap	Payments To Acquire Businesses Net Of Cash Acquired PaymentsToAcquireBusinessesNetOfCashAcquired	0	usd
CY2022Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	426000000	usd
CY2021Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	378000000	usd
CY2022Q3	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	1884000000	usd
CY2021Q3	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	2654000000	usd
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CY2021Q3	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	2324000000	usd
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CY2021Q3	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	76000000	usd
CY2022Q3	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1585000000	usd
CY2021Q3	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-784000000	usd
CY2022Q3	us-gaap	Proceeds From Short Term Debt ProceedsFromShortTermDebt	2284000000	usd
CY2021Q3	us-gaap	Proceeds From Short Term Debt ProceedsFromShortTermDebt	0	usd
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CY2021Q3	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	1000000	usd
CY2022Q3	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	903000000	usd
CY2021Q3	us-gaap	Payments Of Dividends Common Stock PaymentsOfDividendsCommonStock	846000000	usd
CY2022Q3	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	43000000	usd
CY2021Q3	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	111000000	usd
CY2022Q3	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	336000000	usd
CY2021Q3	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	315000000	usd
CY2022Q3	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	273000000	usd
CY2021Q3	us-gaap	Proceeds From Payments For Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities	-4000000	usd
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CY2021Q3	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-1055000000	usd
CY2022Q3	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-122000000	usd
CY2021Q3	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-42000000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-1574000000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-589000000	usd
CY2022Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3714000000	usd
CY2021Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3593000000	usd
CY2022Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	2140000000	usd
CY2021Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3004000000	usd
CY2022Q3	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	260000000	usd
CY2021Q3	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	249000000	usd
CY2022Q3	us-gaap	Interest Paid Net InterestPaidNet	68000000	usd
CY2021Q3	us-gaap	Interest Paid Net InterestPaidNet	63000000	usd
CY2022Q3	us-gaap	Basis Of Accounting BasisOfAccounting	Basis of Presentation <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 accompanying unaudited consolidated financial statements of Medtronic plc and its subsidiaries (Medtronic plc, Medtronic, or the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S.) (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, the consolidated financial statements include all the adjustments necessary for a fair statement in conformity with U.S. GAAP. Certain reclassifications have been made to prior year financial statements to conform to classifications used in the current year.</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%">Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could materially differ from these estimates. </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 COVID-19 pandemic ("COVID-19" or the "pandemic") has had, and may continue to have, an adverse effect on our business, results of operations, financial condition, and cash flows, and its future impacts remain uncertain and unpredictable. While there was not a material impact to the Company’s consolidated financial statements as of and for the three months ended July 29, 2022, changes in the Company’s assessment about the length and severity of the pandemic, as well as other factors, could result in actual results differing from estimates. </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 accompanying unaudited consolidated financial statements include the accounts of Medtronic plc, its wholly-owned subsidiaries, entities for which the Company has a controlling financial interest, and variable interest entities for which the Company is the primary beneficiary. Intercompany transactions and balances have been eliminated in consolidation. Amounts reported in millions within this quarterly report are computed based on the amounts in thousands, and therefore, the sum of the components may not equal the total amount reported in millions due to rounding. Additionally, certain columns and rows within tables may not sum due to rounding. </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 accompanying unaudited consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements of the Company and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 29, 2022. The Company’s fiscal years 2023, 2022, and 2021 will end or ended on April 28, 2023, April 29, 2022, and April 30, 2021, respectively. Fiscal year 2021 was a 53-week year.</span></div>
CY2022Q3	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	2000000	usd
CY2022Q3	us-gaap	Fiscal Period FiscalPeriod	The Company’s fiscal years 2023, 2022, and 2021 will end or ended on April 28, 2023, April 29, 2022, and April 30, 2021, respectively. Fiscal year 2021 was a 53-week year.
CY2022Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	7371000000	usd
CY2021Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	7987000000	usd
CY2022Q3	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	391000000	usd
CY2022Q2	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	399000000	usd
CY2022Q3	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	87000000	usd
CY2022Q3	us-gaap	Business Combination Contingent Consideration Liability BusinessCombinationContingentConsiderationLiability	193000000	usd
CY2022Q2	us-gaap	Business Combination Contingent Consideration Liability BusinessCombinationContingentConsiderationLiability	119000000	usd
CY2022Q2	us-gaap	Business Combination Contingent Consideration Liability BusinessCombinationContingentConsiderationLiability	119000000	usd
CY2021Q2	us-gaap	Business Combination Contingent Consideration Liability BusinessCombinationContingentConsiderationLiability	270000000	usd
CY2022Q3	mdt	Business Acquisition Price Contingent Consideration BusinessAcquisitionPriceContingentConsideration	73000000	usd
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CY2022Q3	mdt	Business Acquisition Purchase Price Contingent Consideration BusinessAcquisitionPurchasePriceContingentConsideration	0	usd
CY2021Q3	mdt	Business Acquisition Purchase Price Contingent Consideration BusinessAcquisitionPurchasePriceContingentConsideration	25000000	usd
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CY2021Q3	us-gaap	Business Combination Contingent Consideration Liability BusinessCombinationContingentConsiderationLiability	294000000	usd
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CY2022Q3	us-gaap	Restructuring Reserve RestructuringReserve	83000000	usd
CY2022Q3	us-gaap	Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss	7030000000	usd
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CY2022Q3	us-gaap	Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax	269000000	usd
CY2022Q3	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	6767000000	usd
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CY2022Q2	us-gaap	Available For Sale Securities Debt Securities AvailableForSaleSecuritiesDebtSecurities	6893000000	usd
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CY2022Q3	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss	2000000	usd
CY2022Q3	us-gaap	Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger	5072000000	usd
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CY2022Q3	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	21100000000	usd
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CY2022Q3	us-gaap	Available For Sale Securities Debt Maturities After One Through Five Years Fair Value AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue	3597000000	usd
CY2022Q3	us-gaap	Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue	1102000000	usd
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CY2022Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	101000000	usd
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CY2022Q3	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	17481000000	usd
CY2022Q2	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	20372000000	usd
CY2022Q3	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	20100000000	usd
CY2022Q2	us-gaap	Long Term Debt Fair Value LongTermDebtFairValue	22900000000	usd
CY2022Q2	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	24200000000	usd
CY2022Q3	mdt	Unrealized Gain Loss On Interest Rate Cash Flow Hedges Accumulated Other Comprehensive Income Loss Net Of Tax UnrealizedGainLossOnInterestRateCashFlowHedgesAccumulatedOtherComprehensiveIncomeLossNetOfTax	694000000	usd
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CY2022Q3	us-gaap	Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths	510000000	usd
CY2022Q3	mdt	Other Comprehensive Income Loss Cash Flow Hedge And Net Investment Hedge Gain Loss Before Reclassification And Tax OtherComprehensiveIncomeLossCashFlowHedgeAndNetInvestmentHedgeGainLossBeforeReclassificationAndTax	1378000000	usd
CY2021Q3	mdt	Other Comprehensive Income Loss Cash Flow Hedge And Net Investment Hedge Gain Loss Before Reclassification And Tax OtherComprehensiveIncomeLossCashFlowHedgeAndNetInvestmentHedgeGainLossBeforeReclassificationAndTax	584000000	usd
CY2022Q3	mdt	Other Comprehensive Income Loss Cash Flow Hedge And Net Investment Hedge Gain Loss Reclassification Before Tax OtherComprehensiveIncomeLossCashFlowHedgeAndNetInvestmentHedgeGainLossReclassificationBeforeTax	120000000	usd
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CY2022Q3	us-gaap	Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet	-25000000	usd
CY2021Q3	us-gaap	Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet	30000000	usd
CY2022Q3	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	907000000	usd
CY2022Q2	us-gaap	Derivative Fair Value Of Derivative Asset DerivativeFairValueOfDerivativeAsset	695000000	usd
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CY2022Q2	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	129000000	usd
CY2022Q3	us-gaap	Derivative Assets DerivativeAssets	907000000	usd
CY2022Q3	us-gaap	Derivative Liabilities DerivativeLiabilities	61000000	usd
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CY2022Q2	us-gaap	Derivative Liabilities DerivativeLiabilities	129000000	usd
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CY2021Q3	us-gaap	Net Income Loss NetIncomeLoss	763000000	usd
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1329400000	shares
CY2021Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	1344500000	shares
CY2022Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1334500000	shares
CY2021Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	1356400000	shares
CY2022Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.70
CY2021Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.57
CY2022Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.70
CY2021Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.56
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	62000000	usd
CY2021Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	69000000	usd
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	62000000	usd
CY2021Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	69000000	usd
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CY2022Q3	us-gaap	Loss Contingency Disclosures LossContingencyDisclosures	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-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 from time to time involving product liability, employment, intellectual property and commercial disputes, shareholder related matters, environmental proceedings, tax disputes, and governmental </span></div><div style="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%">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-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 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 certain specified litigation charges and gains related to significant legal matters as </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">certain litigation charges</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the consolidated statements of income. The Company recognized no certain litigation charges during the three months ended July 29, 2022, whereas the Company recognized $26 million of certain litigation charges during the three months ended July 30, 2021. At July 29, 2022 and April 29, 2022, accrued litigation was approximately $0.3 billion. 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:120%">other accrued expenses</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%">other liabilities</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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-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.</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%">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 August 3, 2022, 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-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-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 began filing lawsuits against certain subsidiaries of the Company in U.S. state and federal courts that allege personal injury from hernia mesh products sold by those subsidiaries. As of August 10, 2022, subsidiaries of the Company have been named as defendants in lawsuits filed on behalf of approximately 6,050 individual plaintiffs, and certain plaintiffs’ law firms have advised the Company that they may file additional cases in the future. Approximately 5,600 plaintiffs have filed lawsuits in a coordinated proceeding in Massachusetts state court, where they have been consolidated before a single judge. Approximately 350 plaintiffs have filed lawsuits in a coordinated action in Minnesota state court, and there are approximately 90 actions coordinated in a federal Multidistrict Litigation in the U.S. District Court for the District of Massachusetts. 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 and reasonably estimable. 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%">Environmental Proceedings</span></div><div style="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-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. The Company has proceeded with remediation in accordance with the MDEP order as modified by the Maine Board order. </span></div><div style="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-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 court approval. </span></div><div style="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="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 in June 2016, issued an opinion with respect to the allocation of income between the parties for fiscal years 2005 and 2006 whereby it generally rejected the IRS’s position, but also made certain modifications to the Medtronic, Inc. tax returns as filed. In April 2017, the IRS filed a Notice of Appeal to the U.S. Court of Appeals for the Eighth Circuit regarding the Tax Court opinion. Oral argument for the Appeal occurred in March 2018. The Court of Appeals issued its opinion in August 2018 and remanded the case back to the Tax Court for additional factual findings, which it concluded in June 2021. The Tax Court issued its opinion on August 18, 2022, and it remains subject to appeal by either or both parties. At this time, the Company is evaluating the impact of the opinion and whether the Company will appeal.</span></div><div style="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 IRS has issued its audit reports on Medtronic, Inc. for fiscal years 2007 through 2016. Medtronic, Inc. and the IRS have reached agreement on all significant issues except for 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 matter for fiscal years 2005 and 2006.</span></div><div style="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-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%">Covidien LP (a wholly owned subsidiary of Medtronic plc) has either reached agreement with the IRS or the statute of limitations has lapsed on its U.S. federal income tax returns through fiscal year 2018.</span></div><div style="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%">Although 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-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%">Refer to Note 11 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-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-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>
CY2022Q3	us-gaap	Loss Contingency Accrual Provision LossContingencyAccrualProvision	0	usd
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CY2022Q3	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	300000000	usd
CY2022Q3	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	4	portfolio
CY2022Q3	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	4	portfolio
CY2022Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1044000000	usd
CY2021Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	833000000	usd
CY2022Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	7371000000	usd
CY2021Q3	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	7987000000	usd

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2022 Q3 Form 10-Q Financial Statement

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$MDT Medtronic plc Stock $mdt

2022 Q3 Form 10-Q Financial Statement

#000161310322000046 Filed on September 01, 2022

Income Statement

Balance Sheet

Cashflow Statement

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Files In Submission

$MDT
Medtronic plc Stock $mdt