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Medtronic PLC Consolidated Statement of Income $ millions, For Fiscal Year Ended April 26, 2019 Net sales $30,557 Costs and expenses \begin{tabular}{|l|r|} \hline Cost of products sold & 9,155 \\ \hline Research and development expense & 932 \\ \hline Selling, general, and administrative expense & 10,418 \\ \hline Amortization of intangible assets & 1,764 \\ \hline Restructuring charges, net & 79 \\ \hline Certain litigation charges, net & 166 \\ \hline Other operating expense, net & 258 \\ \hline Operating profit & 7,785 \\ \hline Other nonoperating income, net & (149) \\ \hline Interest expense & 1,444 \\ \hline Income before income taxes & 6,490 \\ \hline Income tax provision & 547 \\ \hline Net income & 5,943 \\ \hline Net income loss attributable to noncontrolling interests & (19) \\ \hline Net income attributable to Medtronic & $5,924 \\ \hline & \\ \hline \hline \end{tabular} \begin{tabular}{|l|r|l|} \hline \multicolumn{2}{|c|}{ Income statement assumptions } & \multicolumn{2}{|c|}{} \\ \hline Net sales increase & 8% & growth \\ \hline Cost of products sold & 30.0% & of net sales \\ \hline Research and development expense & 7.6% & of net sales \\ \hline Selling, general, and administrative expense & 34.1% & of net sales \\ \hline Amortization of intangible assets & 5.8% & of net sales \\ \hline Restructuring charges, net & 75% & of 2019 restructuring expense \\ \hline Certain litigation charges, net & $150 & million \\ \hline Other operating expense, net & & No change in $ amount \\ \hline Other nonoperating income, net & & No change in \$ amount \\ \hline Interest expense & & No change in \$ amount \\ \hline Income tax provision & 15% & of pretax income \\ \hline Income attributable to noncontrolling interests & & No change in $ amount \\ \hline \end{tabular}

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