November 25, 2014 by Brad Perriello
Medtronic says it expects to repatriate as much as $4 billion in cash after it resolves a dispute with the IRS involving its Puerto Rico subsidiary.
Medtronic (NYSE:MDT) said today that it expects to land a substantial windfall once it resolves a dispute with the IRS over the next “couple of years.”
In a regulatory filing, Fridley, Minn.-based Medtronic said it expects to repatriate between $500 million and $4.5 billion in overseas cash once the dispute is put to bed.
The cash will be used to lower its debt load, Medtronic said in the filing.
