Below are the financial statements of Medtronic, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in billions of USD | 2025 | 2024 | 2023 |
|---|---|---|---|
| Net sales | 33.54a | 32.36a | 31.23a |
| Costs and expenses | — | — | — |
| Cost of products sold, excluding amortization of intangible assets | -11.63a | -11.22a | -10.72a |
| Research and development expense | -2.73a | -2.74a | -2.7a |
| Selling, general, and administrative expense | -10.85a | -10.74a | -10.42a |
| Amortization of intangible assets | -1.81a | -1.69a | -1.7a |
| Restructuring charges, net | -0.27a | -0.23a | -0.38a |
| Certain litigation charges, net | -0.32a | -0.15a | -0.03a |
| Other operating (income) expense, net | -0.02a | 0.46a | -0.13a |
| Operating profit | 5.96a | 5.14a | 5.49a |
| Other non-operating income, net | -0.4a | -0.41a | -0.52a |
| Interest expense, net | -0.73a | -0.72a | -0.64a |
| Income before income taxes | 5.63a | 4.84a | 5.36a |
| Income tax provision | -0.94a | -1.13a | -1.58a |
| Net income | 4.69a | 3.71a | 3.78a |
| Net income attributable to noncontrolling interests | -0.03a | -0.03a | -0.03a |
| Net income attributable to Medtronic | 4.66a | 3.68a | 3.76a |
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