Prepared Remarks:

Ryan Weispfenning

Good morning. I am Ryan Weispfenning, vice president and head of Medtronic investor relations. Welcome to Minnesota, land of 10,000 lakes. I appreciate that you're joining us today for Medtronic's fiscal year 2023 fourth quarter earnings video webcast.

Before we go inside to hear our prepared remarks, I'll share a few details about today's webcast. Joining me are Geoff Martha, Medtronic chairman and chief executive officer; and Karen Parkhill, Medtronic chief financial officer. Geoff and Karen will provide comments on the results of our fourth quarter and fiscal year 2023, which ended on April 28, 2023, and our outlook for fiscal year '24. After our prepared remarks, the executive VPs from each of our four segments will join us, and we'll take questions from the sell-side analysts that cover the company.

Today's program should last about an hour. Earlier this morning, we issued a press release containing our financial statements and divisional and geographic revenue summaries. We also posted an earnings presentation that provides additional details on our performance. The presentation can be accessed in our earnings press release or on our website at investorrelations.medtronic.com.

During today's program, many of the statements we make maybe considered forward-looking statements, and actual results may differ materially from those projected in any forward-looking statement. Additional information concerning factors that could cause actual results to differ is contained in our periodic reports and other filings that we make with the SEC, and we do not undertake to update any forward-looking statement. Unless we say otherwise, all comparisons are on a year-over-year basis and revenue comparisons are made on an organic basis, which excludes four things: one, the impact of foreign currency; two, revenue from our Q1 acquisition of Intersect ENT; three, fourth quarter revenue in the current and prior year from our divestiture of our Renal Care Solutions business; and four, a one-time contribution from an intellectual property agreement. References to the sequential revenue changes compared to the third quarter of fiscal '23 and are made on an as-reported basis, and all references to share gains or losses refer to revenue share in the first calendar quarter of 2023 compared to the first calendar quarter of 2022, unless otherwise stated.