Reference no: EM131884289

Question: 1. For the year ended April 29, 2016, what was Medtronic's GAAP effective tax rate?

2. What was the largest item in Medtronic's effective tax rate that caused the ETR to be lower than the US rate?

3. In fiscal year 2016, what were the amounts of income from continuing operations before income taxes for both the United States and outside the US (i.e. International)?

4. What is the earliest open taxable year which is under examination by the HMRC in the United Kingdom at the time this financial statement was issued?

5. What is the total unrecognized tax benefit, net of cash advances, disclosed under FIN 48 for the fiscal year ending in 2016? How much of this would affect the effective tax rate for fiscal year 2016 if all of these unrecognized tax benefits were recognized? Explain what is the difference between items that resulted in unrecognized tax benefits that would affect the effective tax rate verses those items that would not affect the effective tax rate.

6. What is Medtronic's total income tax expense (provision for income taxes) reported in the financial statements for the year ended April 29, 2016? What are the amounts of total current tax expense and net deferred tax expense?

7. What is the amount for which Medtronic did not provide deferred U.S. income taxes or foreign withholding taxes on undistributed earnings for non-U.S. subsidiaries which are permanently reinvested outside the U.S.?

8. What was the amount of deferred tax assets related to pension and post-retirement benefits as of April 29, 2016?

9. At the end of fiscal year ending in 2016, what was Medtronic's US federal net operating loss carryforwards?

10. What is the amount of the Valuation Allowance that reduces the gross deferred tax assets on the balance sheet for the year ended on April 29, 2016?

Note: SEC FORM 10-K x Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934. For the fiscal year ended April 29, 2016.