MDT · 10-Q · 2026Q3 · Full report

Italian Payback Accrual Changes

Medtronic plc · 2026-09-03 · Importance 28 · Surprise 42

A June 30, 2025 Legislative Decree issued by the Italian government, formalized into law in August 2025, changed estimates for Italian payback accruals covering 2015 through 2018. The adjustment reduced net sales by $39 million in the three months ended July 25, 2025. The Italian payback accrual changes also partially offset reported year-over-year net sales growth for the three months ended July 31, 2026.

Key facts

• For the three months ended July 25, 2025, the Company's Italian payback accrual decreased by $39 million as an adjustment to net sales. source
• The Company reflected adjustments to the Company's Italian payback accruals resulting from the June 30, 2025 Legislative Decree published by the Italian government for years 2015 to 2018. source