XML 49 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Segment and Geographic Information
6 Months Ended
Oct. 30, 2020
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
Segment disclosures are on a performance basis consistent with internal management reporting. Net sales of the Company's reportable segments include end-customer revenues from the sale of products the segment develops, manufactures, and distributes. There are certain corporate and centralized expenses that are not allocated to the segments.
The Company’s management evaluates performance of the segments and allocates resources based on net sales and segment operating profit. Segment operating profit represents income before income taxes, excluding interest expense, amortization of intangible assets, centralized distribution costs, non-operating income or expense items, certain corporate charges, and other items not allocated to the segments.
The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies in Note 1 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended April 24, 2020. Certain depreciable assets may be recorded by one segment, while the depreciation expense is allocated to another segment. The allocation of depreciation expense is based on the proportion of the assets used by each segment.
The following tables present reconciliations of financial information from the segments to the applicable line items in the Company's consolidated financial statements:
Segment Operating Profit
 Three months endedSix months ended
(in millions)October 30, 2020October 25, 2019October 30, 2020October 25, 2019
Cardiac and Vascular Group$992 $1,128 $1,751 $2,183 
Minimally Invasive Therapies Group775 823 1,230 1,593 
Restorative Therapies Group805 840 1,327 1,633 
Diabetes Group132 148 235 297 
Segment operating profit2,704 2,939 4,543 5,706 
Interest expense(470)(165)(641)(774)
Other non-operating income, net65 108 147 209 
Amortization of intangible assets(443)(441)(884)(881)
Corporate(460)(350)(825)(657)
Centralized distribution costs(542)(424)(940)(768)
Restructuring and associated costs(179)(94)(307)(218)
Acquisition-related items(37)(27)68 (46)
Certain litigation charges, net(84)(121)(168)
IPR&D charges(10)— (19)— 
Exit of businesses— (41)— (41)
Debt tender premium and other charges— — — 
Medical device regulations(19)(10)(37)(18)
Contribution to Medtronic Foundation— (80)— (80)
Income before income taxes$525 $1,294 $1,109 $2,271 
Geographic Information
Net sales are attributed to the country based on the location of the customer taking possession of the products or in which the services are rendered. The following table presents net sales for the three and six months ended October 30, 2020 and October 25, 2019 for the Company's country of domicile, countries with significant concentrations, and all other countries:    
 Three months endedSix months ended
(in millions)October 30, 2020October 25, 2019October 30, 2020October 25, 2019
Ireland$24 $23 $49 $43 
United States 4,054 4,129 7,405 8,046 
Rest of world3,569 3,554 6,700 7,110 
Total other countries, excluding Ireland7,623 7,683 14,105 15,156 
Total$7,647 $7,706 $14,154 $15,199