Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - MEDTRONIC INC | mdt-2015q3x10q.htm |
| EX-32.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 906 - MEDTRONIC INC | mdt-2015q3xex321.htm |
| EX-32.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 906 - MEDTRONIC INC | mdt-2015q3xex322.htm |
| EX-31.2 - CERTIFICATION OF CFO PURSUANT TO SECTION 203 - MEDTRONIC INC | mdt-2015q3xex312.htm |
| EXCEL - IDEA: XBRL DOCUMENT - MEDTRONIC INC | Financial_Report.xls |
| EX-31.1 - CERTIFICATION OF CEO PURSUANT TO SECTION 203 - MEDTRONIC INC | mdt-2015q3xex311.htm |
EXHIBIT 12.1
MEDTRONIC, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The ratio of earnings to fixed charges for the nine months ended January 23, 2015 was computed based on Medtronic’s current quarterly report on Form 10-Q. The ratio of earnings to fixed charges for the fiscal years ended April 25, 2014, April 26, 2013, April 27, 2012, April 29, 2011, and April 30, 2010 was computed based on Medtronic’s historical consolidated financial information.
(in millions, except ratio of earnings to fixed charges) | Nine months ended January 23, 2015 | Year ended April 25, 2014 | Year ended April 26, 2013 | Year ended April 27, 2012 | Year ended April 29, 2011 | Year ended April 30, 2010 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 3,299 | $ | 3,705 | $ | 4,251 | $ | 4,145 | $ | 3,664 | $ | 3,944 | ||||||||||||
Noncontrolling interest (income) loss | 1 | (1 | ) | (1 | ) | 8 | 8 | 7 | ||||||||||||||||
Capitalized interest (1) | (3 | ) | (4 | ) | (4 | ) | (4 | ) | (4 | ) | (4 | ) | ||||||||||||
$ | 3,297 | $ | 3,700 | $ | 4,246 | $ | 4,149 | $ | 3,668 | $ | 3,947 | |||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense, gross (2) | $ | 367 | $ | 379 | $ | 392 | $ | 353 | $ | 454 | $ | 406 | ||||||||||||
Rent interest factor (3) | 32 | 45 | 42 | 46 | 44 | 46 | ||||||||||||||||||
$ | 399 | $ | 424 | $ | 434 | $ | 399 | $ | 498 | $ | 452 | |||||||||||||
Earnings before income taxes and fixed charges | $ | 3,696 | $ | 4,124 | $ | 4,680 | $ | 4,548 | $ | 4,166 | $ | 4,399 | ||||||||||||
Ratio of earnings to fixed charges | 9 | 10 | 11 | 11 | 8 | 10 | ||||||||||||||||||
(1) Capitalized interest relates to construction projects in process. |
(2) Interest expense consists of interest on indebtedness. |
(3) Approximately one-third of rental expense is deemed representative of the interest factor. |