10-Q Filing

ST JUDE MEDICAL INC CIK: 203077 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0000897101-12-000709`
Period End Date	20120331
Filing Date	20120503
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	stj-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 34 Cash Flow Statement 60 Comprehensive Income 11

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, less allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$105.00M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$101.00M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$986.00M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$500.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$664.00M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $105 at March 31, 2012 and $101 at December 31, 2011	`AccountsReceivableNetCurrent`	$1.42B	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $105 at March 31, 2012 and $101 at December 31, 2011	`AccountsReceivableNetCurrent`	$1.37B	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$626.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$624.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetCurrent`	$231.00M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxAssetsNetCurrent`	$232.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$191.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$182.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.39B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	313.79M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.52B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	313.79M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	319.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	319.62M	shares	Point-in-time
Property, plant and equipment, at cost	`PropertyPlantAndEquipmentGross`	$2.45B	USD	Point-in-time
Property, plant and equipment, at cost	`PropertyPlantAndEquipmentGross`	$2.53B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.07B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.12B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$1.41B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$1.39B	USD	Point-in-time
Goodwill	`Goodwill`	$2.95B	USD	Point-in-time
Goodwill	`Goodwill`	$2.96B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$848.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$856.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$438.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$417.00M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.18B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.01B	USD	Point-in-time
Current debt obligations	`DebtCurrent`	$78.00M	USD	Point-in-time
Current debt obligations	`DebtCurrent`	$83.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$202.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$177.00M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$67.00M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$72.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$46.00M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.00M	USD	Point-in-time
Employee compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$305.00M	USD	Point-in-time
Employee compensation and related benefits	`EmployeeRelatedLiabilitiesCurrent`	$271.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$403.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$420.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.06B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.91B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.71B	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$279.00M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$270.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$517.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$477.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.76B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.53B	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock ($1.00 par value; 25,000,000 shares authorized; none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock ($1.00 par value; 25,000,000 shares authorized; none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Common stock ($0.10 par value; 500,000,000 shares authorized; 313,792,911 and 319,615,965 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively)	`CommonStockValueOutstanding`	$31.00M	USD	Point-in-time
Common stock ($0.10 par value; 500,000,000 shares authorized; 313,792,911 and 319,615,965 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively)	`CommonStockValueOutstanding`	$32.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$34.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$43.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.38B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$4.30B	USD	Point-in-time
Cumulative translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-2.00M	USD	Point-in-time
Cumulative translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$36.00M	USD	Point-in-time
Unrealized gain on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$18.00M	USD	Point-in-time
Unrealized gain on available-for-sale securities	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$18.00M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.47B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.42B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.18B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.01B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.38B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.40B	USD	1 Quarter
Cost of sales before special charges	`CostOfSalesBeforeSpecialCharges`	$365.00M	USD	1 Quarter
Cost of sales before special charges	`CostOfSalesBeforeSpecialCharges`	$358.00M	USD	1 Quarter
Special charges	`SpecialCharges`	$23.00M	USD	1 Quarter
Total cost of sales	`CostOfGoodsSold`	$365.00M	USD	1 Quarter
Total cost of sales	`CostOfGoodsSold`	$381.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.01B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.01B	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$513.00M	USD	1 Quarter
Selling, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$490.00M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$176.00M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$175.00M	USD	1 Quarter
Special charges	`RestructuringSettlementAndImpairmentProvisions`	$47.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$302.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$322.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-23.00M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-27.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$279.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$295.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$67.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$62.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$212.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$233.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.72	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.71	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.67	USD	1 Quarter
Cash dividends declared per share:	`CommonStockDividendsPerShareDeclared`	$0.21	USD	1 Quarter
Cash dividends declared per share:	`CommonStockDividendsPerShareDeclared`	$0.23	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	325.30M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	315.70M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	328.90M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	317.70M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$212.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$233.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$70.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$72.00M	USD	1 Quarter
Amortization of debt premium, net	`AmortizationOfDebtDiscountPremium`	$1.00M	USD	1 Quarter
Amortization of debt premium, net	`AmortizationOfDebtDiscountPremium`	$1.00M	USD	1 Quarter
Inventory step-up amortization	`InventoryStepUpAmortization`	$15.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$19.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$19.00M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.00M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.00M	USD	1 Quarter
Gain on sale of investment	`AvailableForSaleSecuritiesGrossRealizedGains`	$4.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-10.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-5.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$38.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$37.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-31.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$11.00M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-46.00M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-98.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$23.00M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$44.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$239.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$235.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$70.00M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$70.00M	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$6.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$3.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-73.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-63.00M	USD	1 Quarter
Proceeds from exercise of stock options and stock issued	`ProceedsFromStockOptionsExercised`	$47.00M	USD	1 Quarter
Proceeds from exercise of stock options and stock issued	`ProceedsFromStockOptionsExercised`	$161.00M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$4.00M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.00M	USD	1 Quarter
Common stock repurchased, including related costs	`PaymentsForRepurchaseOfCommonStock`	$309.00M	USD	1 Quarter
Common stock repurchased, including related costs	`PaymentsForRepurchaseOfCommonStock`	$300.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$67.00M	USD	1 Quarter
Issuances of commercial paper borrowings, net	`ProceedsFromRepaymentsOfShortTermDebt`	$135.00M	USD	1 Quarter
Issuances of commercial paper borrowings, net	`ProceedsFromRepaymentsOfShortTermDebt`	$211.00M	USD	1 Quarter
Borrowings under debt facilities	`ProceedsFromIssuanceOfLongTermDebt`	$78.00M	USD	1 Quarter
Borrowings under debt facilities	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payments under debt facilities	`RepaymentsOfLongTermDebt`	$78.00M	USD	1 Quarter
Payments under debt facilities	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-108.00M	USD	1 Quarter
Effect of currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.00M	USD	1 Quarter
Effect of currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$164.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$67.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$986.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$500.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$664.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$500.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$986.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$664.00M	USD	Point-in-time

Comprehensive Income 11 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$212.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$233.00M	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$2.00M	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$2.00M	USD	1 Quarter
Reclassification of realized gain on available-for-sale securities, net of taxes	`OtherComprehensiveIncomeReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax`	$2.00M	USD	1 Quarter
Foreign currency translation adjustment, net of taxes	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$38.00M	USD	1 Quarter
Foreign currency translation adjustment, net of taxes	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$87.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$38.00M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$89.00M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$322.00M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$250.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.