v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Current assets:    
Cash and cash equivalents $ 298 $ 11
Accounts receivable, less allowance for credit losses of $26 and $46, respectively 200 570
Due from Medtronic 455 0
Inventories 341 311
Other current assets 54 48
Total current assets 1,348 939
Property, plant, and equipment, net 711 706
Goodwill 2,256 2,255
Other intangible assets, net 107 132
Tax assets 61 19
Other assets 147 150
Total assets 4,630 4,201
Current liabilities:    
Accounts payable 163 205
Accrued compensation 163 182
Accrued rebates 45 51
Total current liabilities 702 710
Other liabilities 317 162
Total liabilities 1,019 871
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Common stock, par value $0.01, 1,000,000,000 shares authorized at April 24, 2026, 280,819,988 and no shares issued and outstanding, at April 24, 2026 and April 25, 2025, respectively 3 0
Preferred stock, par value $0.01, 100,000,000 shares authorized, none issued and outstanding 0 0
Additional paid-in capital 3,736 0
Retained earnings (Accumulated deficit) (116) 0
Net parent investment 0 3,328
Accumulated other comprehensive income (12) 3
Total stockholders’ equity 3,611 3,330
Noncontrolling interests 0 0
Total equity 3,611 3,330
Total liabilities and stockholders’ equity 4,630 4,201
Due to Medtronic    
Current liabilities:    
Other accrued expenses 137 0
Nonrelated Party    
Current liabilities:    
Other accrued expenses $ 194 $ 271