v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jul. 31, 2026
Apr. 24, 2026
Current assets:    
Cash and cash equivalents $ 207 $ 298
Accounts receivable, less allowance for credit losses of $28 and $26, respectively 180 200
Due from Medtronic 602 455
Inventories 356 341
Other current assets 72 54
Total current assets 1,417 1,348
Property, plant, and equipment, net 736 711
Goodwill 2,255 2,256
Other intangible assets, net 100 107
Tax assets 58 61
Other assets 152 147
Total assets 4,718 4,630
Current liabilities:    
Accounts payable 251 163
Accrued compensation 126 163
Accrued rebates 42 45
Total current liabilities 782 702
Other liabilities 316 317
Total liabilities 1,098 1,019
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Common stock, par value $0.01, 1,000,000,000 shares authorized, 281,205,548 and 280,819,988 shares issued and outstanding, at July 31, 2026 and April 24, 2026, respectively 3 3
Preferred stock, par value $0.01, 100,000,000 shares authorized, none issued and outstanding 0 0
Additional paid-in capital 3,747 3,736
Accumulated deficit (116) (116)
Accumulated other comprehensive income (14) (12)
Total stockholders’ equity 3,620 3,611
Total liabilities and stockholders’ equity 4,718 4,630
Related Party    
Current liabilities:    
Other accrued expenses 178 137
Nonrelated Party    
Current liabilities:    
Other accrued expenses $ 185 $ 194