Use the financial statements along with the additional information below to forecast property, plant and equipment, net for FY2017.
| CAPEX in FY2016 | $1,079 million |
| Depreciation expense in FY2016 | 923 million |
| Forecasted FY2017 net sales | 35,620 million |
| Property, plant, and equipment, gross FY2015 | 8,863 million |
| Property, plant, and equipment, gross FY2016 | 9,714 million |
Provided below is FY2016 information for Medtronic PLC. Medtronic plc Consolidated Statement of Income ($ millions) Apr. 29, 2016 Net sales $29,277 Costs and expenses Cost of products sold 9,142 Research and development expenses 2,224 Selling, general, and administrative expense 9,469 Special charges (gains), net 70 Restructuring charge, net 290 Certain litigation charges, net 26 Acquisition-related items 283 205 Amortization of intangiable assets 1,931 1,931 Other expense, net 107 102 Operating profit 5,735 Interest expense, net 955 Income from operations before income taxes 4,780 Provision for income taxes 908 Net income $3,872 Accounts A Medtronic plc Consolidated Balance Sheets ($ millions) Apr. 29, 2016 Apr. 24, 2015 Cu sets Cash and cash equivalents $2,975 $4,942 Investments 9,758 14,637 receivable 5,562 Storia 5,112 Inventories 3,473 3,463 Tay Tax assets co 697 1,335 Prepaid expenses and other current assets 1,234 1,454 2200 Total current assets 23,699 01040 olan 30,943 Property, plant, and equipment, net 4,940 700 4,798 Goodwill 41,500 40,530 520 Other intangible assets, net ca 26,899 28, 101 Long-term tax assets 1,383 774 otho Other assets 1.559 1,737 Total assets $99,980 Total asses $106,883 Current liabilities che Short-term borrowings ocen $1,092 $2,533 Accounts payable 1,709 1,610 Accrued compensation 1,712 1,611 Accrued income taxes 566 935 40 Deferred tax liabilities 119 Other accrued expenses 2,185 ,165 2.404 Total current liabilities 9,272 7,212 Long-term debt 30,247 33,752 Long-term accrued compensation Long-term accrued income taxes 2,903 2,476 Long-term deferred tax liabilities 3,729 Other long-term liabilities 1.916 1,819 Total liabilities 47,818 53,554 Shareholders equity shares Retained 54,030 54,513 Accumulated other comprehensive (loss) (1,868) (1,184) Total shareholders' equity 53,329 Total liabilities and shareholders' equity $99,980 $106,883 7.264 1,759 1,535 4,700 Ordinary sha earnings 52,162 Provided below is FY2016 information for Medtronic PLC. Medtronic plc Consolidated Statement of Income ($ millions) Apr. 29, 2016 Net sales $29,277 Costs and expenses Cost of products sold 9,142 Research and development expenses 2,224 Selling, general, and administrative expense 9,469 Special charges (gains), net 70 Restructuring charge, net 290 Certain litigation charges, net 26 Acquisition-related items 283 205 Amortization of intangiable assets 1,931 1,931 Other expense, net 107 102 Operating profit 5,735 Interest expense, net 955 Income from operations before income taxes 4,780 Provision for income taxes 908 Net income $3,872 Accounts A Medtronic plc Consolidated Balance Sheets ($ millions) Apr. 29, 2016 Apr. 24, 2015 Cu sets Cash and cash equivalents $2,975 $4,942 Investments 9,758 14,637 receivable 5,562 Storia 5,112 Inventories 3,473 3,463 Tay Tax assets co 697 1,335 Prepaid expenses and other current assets 1,234 1,454 2200 Total current assets 23,699 01040 olan 30,943 Property, plant, and equipment, net 4,940 700 4,798 Goodwill 41,500 40,530 520 Other intangible assets, net ca 26,899 28, 101 Long-term tax assets 1,383 774 otho Other assets 1.559 1,737 Total assets $99,980 Total asses $106,883 Current liabilities che Short-term borrowings ocen $1,092 $2,533 Accounts payable 1,709 1,610 Accrued compensation 1,712 1,611 Accrued income taxes 566 935 40 Deferred tax liabilities 119 Other accrued expenses 2,185 ,165 2.404 Total current liabilities 9,272 7,212 Long-term debt 30,247 33,752 Long-term accrued compensation Long-term accrued income taxes 2,903 2,476 Long-term deferred tax liabilities 3,729 Other long-term liabilities 1.916 1,819 Total liabilities 47,818 53,554 Shareholders equity shares Retained 54,030 54,513 Accumulated other comprehensive (loss) (1,868) (1,184) Total shareholders' equity 53,329 Total liabilities and shareholders' equity $99,980 $106,883 7.264 1,759 1,535 4,700 Ordinary sha earnings 52,162
