Refine Assumptions for PPE Forecast
Provided below is FY2016 information for Medtronic PLC.
Medtronic plc | ||
---|---|---|
Consolidated Statement of Income | ||
($ millions) | Apr. 29, 2016 | |
Net sales | $29,610 | |
Costs and expenses | ||
Cost of products sold | 9,142 | |
Research and development expenses | 2,224 | |
Selling, general, and administrative expense | 9,469 | |
Special charges (gains), net | 70 | |
Restructuring charge, net | 290 | |
Certain litigation charges, net | 26 | |
Acquisition-related items | 283 | |
Amortization of intangiable assets | 1,931 | |
Other expense, net | 107 | |
Operating profit | 6,068 | |
Interest expense, net | 955 | |
Income from operations before income taxes | 5,113 | |
Provision for income taxes | 971 | |
Net income | $4,142 |
Medtronic plc | |||
---|---|---|---|
Consolidated Balance Sheets | |||
($ millions) | Apr. 29, 2016 | Apr. 24, 2015 | |
Current assets | |||
Cash and cash equivalents | $3,098 | $5,065 | |
Investments | 9,758 | 14,637 | |
Accounts receivable | 5,562 | 5,112 | |
Inventories | 3,473 | 3,463 | |
Tax assets | 697 | 1,335 | |
Prepaid expenses and other current assets | 1,234 | 1,454 | |
Total current assets | 23,822 | 31,066 | |
Property, plant, and equipment, net | 5,063 | 4,921 | |
Goodwill | 41,500 | 40,530 | |
Other intangible assets, net | 26,899 | 28,101 | |
Long-term tax assets | 1,383 | 774 | |
Other assets | 1,559 | 1,737 | |
Total assets | $100,226 | $107,129 | |
Current liabilities | |||
Short-term borrowings | $1,215 | $2,656 | |
Accounts payable | 1,709 | 1,610 | |
Accrued compensation | 1,712 | 1,611 | |
Accrued income taxes | 566 | 935 | |
Deferred tax liabilities | - | 119 | |
Other accrued expenses | 2,185 | 2,464 | |
Total current liabilities | 7,387 | 9,395 | |
Long-term debt | 30,247 | 33,752 | |
Long-term accrued compensation | 1,759 | 1,535 | |
Long-term accrued income taxes | 2,903 | 2,476 | |
Long-term deferred tax liabilities | 3,729 | 4,700 | |
Other long-term liabilities | 1,916 | 1,819 | |
Total liabilities | 47,941 | 53,677 | |
Shareholders' equity | |||
Ordinary shares | - | - | |
Retained earnings | 54,153 | 54,636 | |
Accumulated other comprehensive (loss) | (1,868) | (1,184) | |
Total shareholders' equity | 52,285 | 53,452 | |
Total liabilities and shareholders' equity | $100,226 | $107,129 |
a. Use the financial statements along with the additional
information below to forecast property, plant and equipment, net
for FY2017.
CAPEX in FY2016 | $1,112 million |
Depreciation expense in FY2016 | 956 million |
Forecasted FY2017 net sales | 35,953 million |
Round to the nearest million.
Forecasted PPE, net for FY2017 $Answer
million
b. Suppose the company discloses in a press release that
accompanies its year-end SEC filing that anticipated CAPEX for
FY2017 is $1.5 billion. Use the guidance to refine your forecast of
property, plant and equipment, net for FY2017.
$Answer
million
Refine Assumptions for PPE Forecast Provided below is FY2016 information for Medtronic PLC. Medtronic plc Consolidated...
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