Medtronic Details Senior Notes in Q3 2024 10-Q Filing

Ticker: MDT · Form: 10-Q · Filed: 2024-02-27T00:00:00.000Z

Sentiment: neutral

Topics: debt, 10-Q, corporate-finance, fixed-income

TL;DR

**Medtronic's latest 10-Q outlines its debt profile, showing senior notes maturing from 2025 to 2032.**

AI Summary

Medtronic plc filed its 10-Q for the period ending January 26, 2024, on February 27, 2024. The filing details various senior notes issued by the company, with maturity dates ranging from 2025 to 2032, including notes from 2019, 2020, and 2022 issuances, some with specified interest rates like 1.25% due 2027 and 1.625% due 2031.

Why It Matters

This filing provides an update on Medtronic plc's financial health, specifically its long-term debt structure, which is crucial for investors to assess the company's leverage and future obligations.

Risk Assessment

Risk Level: medium — The filing primarily details debt instruments, indicating ongoing financial obligations, but without specific principal amounts, a full risk assessment is limited.

Key Numbers

2025 — Earliest Senior Notes Maturity (Medtronic has senior notes due in 2025 from 2019, 2020, and 2022 issuances.)
2032 — Latest Senior Notes Maturity (Medtronic has senior notes from 2020 issuances due in 2032.)
1.25% — Senior Notes Interest Rate (Senior notes issued in 2019 are due in 2027 with a 1.25% interest rate.)
1.625% — Senior Notes Interest Rate (Senior notes issued in 2019 are due in 2031 with a 1.625% interest rate.)

Key Players & Entities

Medtronic plc (company) — filer
January 26, 2024 (date) — period end date
February 27, 2024 (date) — filing date
2025 (date) — senior notes maturity
2027 (date) — senior notes maturity
2028 (date) — senior notes maturity
2031 (date) — senior notes maturity
2032 (date) — senior notes maturity
1.25% (dollar_amount) — interest rate on senior notes due 2027
1.625% (dollar_amount) — interest rate on senior notes due 2031

FAQ

What type of SEC filing is this document?

This document is a 10-Q filing.

Which company filed this 10-Q?

Medtronic plc (CIK: 0001613103) filed this 10-Q.

What is the conformed period of report for this filing?

The conformed period of report is 20240126 (January 26, 2024).

What types of debt instruments are specifically mentioned in the provided text?

The provided text specifically mentions various 'Senior Notes' with different issuance years and maturity dates.

What is the earliest maturity year for the senior notes listed in this excerpt?

The earliest maturity year for the senior notes listed is 2025.

From the Filing

0001613103-24-000011.txt : 20240227 0001613103-24-000011.hdr.sgml : 20240227 20240227161645 ACCESSION NUMBER: 0001613103-24-000011 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 113 CONFORMED PERIOD OF REPORT: 20240126 FILED AS OF DATE: 20240227 DATE AS OF CHANGE: 20240227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Medtronic plc CENTRAL INDEX KEY: 0001613103 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 000000000 FISCAL YEAR END: 0426 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36820 FILM NUMBER: 24686974 BUSINESS ADDRESS: STREET 1: 20 ON HATCH, LOWER HATCH STREET CITY: DUBLIN STATE: L2 ZIP: 2 BUSINESS PHONE: 01135314381700 MAIL ADDRESS: STREET 1: 20 ON HATCH, LOWER HATCH STREET CITY: DUBLIN STATE: L2 ZIP: 2 FORMER COMPANY: FORMER CONFORMED NAME: Medtronic Ltd DATE OF NAME CHANGE: 20150112 FORMER COMPANY: FORMER CONFORMED NAME: Medtronic Holdings Ltd DATE OF NAME CHANGE: 20140711 FORMER COMPANY: FORMER CONFORMED NAME: Kalani I Ltd DATE OF NAME CHANGE: 20140709 10-Q 1 mdt-20240126.htm 10-Q mdt-20240126 0001613103 4/26 false Q3 2024 D02 XH02 0001613103 2023-04-29 2024-01-26 0001613103 us-gaap:CommonStockMember 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2019Due2025Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2020Due2025Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2022Due2025Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2019Due20271125PercentMember 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2020Due2028Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2022Due2028Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2019Due20311625PercentMember 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2019Due20311.00PercentMember 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2022Due2031Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2020Due2032Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2022Due2034Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2019Due20394500PercentMember 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2019Due20391.50PercentMember 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2020Due2040Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2019Due2049Member 2023-04-29 2024-01-26 0001613103 mdt:SeniorNotes2020Due2050Member 2023-04-29 2024-01-26 0001613103 2024-02-21 xbrli:shares 0001613103 2023-10-28 2024-01-26 iso4217:USD 0001613103 2022-10-29 2023-01-27 0001613103 2022-04-30 2023-01-27 iso4217:USD xbrli:shares 0001613103 2024-01-26 0001613103 2023-04-28 0001613103 us-gaap:CommonStockMember 2023-04-28 0001613103 us-gaap:AdditionalPaidInCapitalMember 2023-04-28 0001613103 us-gaap:RetainedEarningsMember 2023-04-28 0001613103 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-28 0001613103 us-gaap:ParentMember 2023-04-28 0001613103 us-gaap:NoncontrollingInterestMember 2023-04-28 0001613103 us-gaap:RetainedEarningsMember 2023-04-29 2023-07-28 0001613103 us-gaap:ParentMember 2023-04-29 2023-07-28 0001613103 us-gaap:NoncontrollingInterestMember 2023-04-29 2023-07-28 0001613103 2023-04-29 2023-07-28 0001613103 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-04-29 2023-07-28 0001613103 us-gaap:CommonStockMember 2023-04-29 2023-07-28 0001613103 us-gaap:AdditionalPaidInCapitalMember 2023-04-29 2023-07-28 0001613103 us-gaap:CommonStockMember 2023-07-28 0001613103 us-gaap:AdditionalPaidInCapitalMember 2023-07-28 0001613103 us-gaap:RetainedEarningsMember 2023-07-28 0001613103 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-07-28 0001613103 us-gaap:ParentMember 2023-07-28 0001613103 us-gaap:NoncontrollingInterestMember 2023-07-28 0001613103 2023-07-28 0001613103 us-gaap:RetainedEarningsMember 2023-07-29 2023-10-27 0001613103 us-gaap:ParentMember 2023-07-29 2023-10-27 0001613103 us-gaap:NoncontrollingInterestMember 2023-07-29 2023-10-27 0001613103 2023-07-29 2023-10-27 0001613103 us-gaap:Accumulate