Medtronic Logs $150 Million Tax Charge Linked to IP Transactions

Medtronic PLC recorded a $150 million income tax provision in 2026 partly related to the sale of intellectual property between its subsidiaries.

The American-Irish medical devices company disclosed the sum Thursday in its annual 10-K report. The charge was also related to the establishment of a deferred tax asset.

The group recorded an additional $66 million cost related to the amortization of previously established deferred tax assets from intercompany IP transactions.

Medtronic’s reconciliation of income taxes showed intercompany transactions reduced its effective tax rate by $165 million in Ireland, while increasing it by $278 million in the ...