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|                  |
|------------------|
|                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|             | IESD |   | CATD |   | Other |   | Total |
| Fiscal Year 2013 |   |  |   |   |  |   |   |  |   |   |  |
| Net sales        | $ | 3,209 |  |   | $ | 2,292 |  |   | $ | — |  |   | $ | 5,501 |  |
| Operating profit | 2,138 |  |   | 1,349 |  |   | (2,436 | ) |   | 1,051 |  |
| Fiscal Year 2012 |   |  |   |   |  |   |   |  |   |   |  |
| Net sales        | $ | 3,277 |  |   | $ | 2,226 |  |   | $ | — |  |   | $ | 5,503 |  |
| Operating profit | 2,274 |  |   | 1,326 |  |   | (2,500 | ) |   | 1,100 |  |
| Fiscal Year 2011 |   |   |   |   |   |   |   |
| Net sales        | $ | 3,453 |  |   | $ | 2,159 |  |   | $ | — |  |   | $ | 5,612 |  |
| Operating profit | 2,240 |  |   | 1,211 |  |   | (2,336 | ) |   | 1,115 |  |

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions)                                          | 2013 |   | 2012 |   | 2011 |   | 2013 vs. 2012 %Change |   | 2012 vs. 2011 %Change |
| ICD systems                                            | $ | 1,741 |  |   | $ | 1,743 |  |   | $ | 1,824 |  |   | (0.1 | )% |   | (4.4 | )% |
| Pacemaker systems                                      | 1,042 |  |   | 1,111 |  |   | 1,210 |  |   | (6.2 | )% |   | (8.2 | )% |
|      Neuromodulation products | 426 |  |   | 423 |  |   | 419 |  |   | 0.7 |  % |   | 1.0 |  % |
|                                                   | $ | 3,209 |  |   | $ | 3,277 |  |   | $ | 3,453 |  |   | (2.1 | )% |   | (5.1 | )% |

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|                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions)                                                   | 2013 |   | 2012 |   | 2011 |   | 2013 vs. 2012 %Change |   | 2012 vs. 2011 %Change |
|      Atrial fibrillation (AF) products | $ | 957 |  |   | $ | 898 |  |   | $ | 822 |  |   | 6.6 |  % |   | 9.2 |  % |
| Vascular products                                               | 704 |  |   | 716 |  |   | 740 |  |   | (1.7 | )% |   | (3.2 | )% |
| Structural heart products                                       | 631 |  |   | 612 |  |   | 597 |  |   | 3.1 |  % |   | 2.5 |  % |
|                                                            | $ | 2,292 |  |   | $ | 2,226 |  |   | $ | 2,159 |  |   | 3.0 |  % |   | 3.1 |  % |

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|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions)                           | 2013 |   | 2012 |   | 2011 |   | 2013 vs. 2012 %Change |   | 2012 vs. 2011 %Change |
|      Net sales | $ | 5,501 |  |   | $ | 5,503 |  |   | $ | 5,612 |  |   | — |  % |   | (1.9 | )% |

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|               |
|---------------|
|               |  |  |  |  |  |  |  |  |  |  |  |
| Net Sales     | 2013 |   | 2012 |   | 2011 |
| United States | $ | 2,596 |  |   | $ | 2,594 |  |   | $ | 2,648 |  |
| International |   |   |   |  |   |   |  |
| Europe        | 1,473 |  |   | 1,432 |  |   | 1,559 |  |
| Japan         | 567 |  |   | 665 |  |   | 641 |  |
| Asia Pacific  | 490 |  |   | 456 |  |   | 416 |  |
| Other         | 375 |  |   | 356 |  |   | 348 |  |
|          | 2,905 |  |   | 2,909 |  |   | 2,964 |  |
|          | $ | 5,501 |  |   | $ | 5,503 |  |   | $ | 5,612 |  |

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |  |  |  |
| Gross profit            |   |  |   |   |  |   |   |
| (in millions)           | 2013 |   | 2012 |   | 2011 |
| Gross profit            | $ | 3,927 |  |   | $ | 3,965 |  |   | $ | 4,079 |  |
| Percentage of net sales | 71.4 | % |   | 72.1 | % |   | 72.7 | % |

|                                                        |
|--------------------------------------------------------|
|                                                        |  |  |  |  |  |  |  |  |  |  |  |
| Selling, general and administrative (SG&A) expense |   |  |   |   |  |   |   |
| (in millions)                                          | 2013 |   | 2012 |   | 2011 |
| Selling, general and administrative expense            | $ | 1,884 |  |   | $ | 1,891 |  |   | $ | 2,084 |  |
| Percentage of net sales                                | 34.2 | % |   | 34.4 | % |   | 37.1 | % |

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|                                            |  |  |  |  |  |  |  |  |  |  |  |
| Research and development (R&D) expense |   |  |   |   |  |   |   |
| (in millions)                              | 2013 |   | 2012 |   | 2011 |
| Research and development expense           | $ | 691 |  |   | $ | 676 |  |   | $ | 705 |  |
| Percentage of net sales                    | 12.6 | % |   | 12.3 | % |   | 12.6 | % |

|                                                                   |
|-------------------------------------------------------------------|
|                                                                   |  |  |  |  |  |  |  |  |  |  |  |
| Purchased in-process research and development (IPR&D) charges |   |   |   |   |   |
| (in millions)                                                     | 2013 |   | 2012 |   | 2011 |
| Purchased in-process research and development charges             | $ | — |  |   | $ | — |  |   | $ | 4 |  |

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |
| Special charges               |   |  |   |   |  |   |   |
| (in millions)                 | 2013 |   | 2012 |   | 2011 |
| Cost of sales special charges | $ | 45 |  |   | $ | 93 |  |   | $ | 47 |  |
| Special charges               | 301 |  |   | 298 |  |   | 171 |  |
|                          | $ | 346 |  |   | $ | 391 |  |   | $ | 218 |  |

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|                    |
|--------------------|
|                    |  |  |  |  |  |  |  |  |  |  |  |
| Other expense, net |   |   |   |   |   |
| (in millions)      | 2013 |   | 2012 |   | 2011 |
| Interest income    | $ | (5 | ) |   | $ | (5 | ) |   | $ | (4 | ) |
| Interest expense   | 81 |  |   | 73 |  |   | 70 |  |
| Other              | 191 |  |   | 27 |  |   | 30 |  |
| Other expense, net | $ | 267 |  |   | $ | 95 |  |   | $ | 96 |  |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |
| (as a percent of pre-tax income) | 2013 |   | 2012 |   | 2011 |
| Effective tax rate               | 11.7 | % |   | 25.2 | % |   | 19.0 | % |

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|                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions, except per share amounts) | 2013 |   | 2012 |   | 2011 |   | 2013 vs. 2012 %Change |   | 2012 vs. 2011 %Change |
| Net earnings                            | $ | 723 |  |   | $ | 752 |  |   | $ | 826 |  |   | (3.9 | )% |   | (9.0 | )% |
| Diluted net earnings per share          | $ | 2.49 |  |   | $ | 2.39 |  |   | $ | 2.52 |  |   | 4.2 |  % |   | (5.2 | )% |

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|                                                                       |  |  |  |  |  |  |  |  |  |  |  |
|                                                                  | 2013 |   | 2012 |   | 2011 |
| Net cash provided by (used in):                                       |   |   |   |   |   |
| Operating activities                                                  | $ | 961 |  |   | $ | 1,335 |  |   | $ | 1,287 |  |
| Investing activities                                                  | (522 | ) |   | (313 | ) |   | (337 | ) |
| Financing activities                                                  | (257 | ) |   | (813 | ) |   | (456 | ) |
| Effect of currency exchange rate changes on cash and cash equivalents | (3 | ) |   | (1 | ) |   | (8 | ) |
| Net increase in cash and cash equivalents                             | $ | 179 |  |   | $ | 208 |  |   | $ | 486 |  |

|                                                             |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |
|                                                        | 2013 |   | 2012 |   | 2011 |
| Stock issued under employee stock plans, net of tax benefit | 458 |  |   | 120 |  |   | 311 |  |
| Common stock repurchases                                    | (833 | ) |   | (992 | ) |   | (809 | ) |
| Dividends paid                                              | (282 | ) |   | (284 | ) |   | (205 | ) |
| Debt borrowings, net                                        | 554 |  |   | 321 |  |   | 247 |  |
| Other, net                                                  | (154 | ) |   | 22 |  |   | — |  |
| Net cash used in financing activities                       | (257 | ) |   | (813 | ) |   | (456 | ) |

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|                                    |
|------------------------------------|
|                                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                               | Payments Due by Period |
|                               |   | Less than | 1-3 | 3-5 | More than |
|                               | Total | 1 Year | Years | Years | 5 Years |
| Contractual obligations related to |   |   |   |   |   |
| off-balance sheet arrangements:    |   |   |   |   |   |
|  Operating leases             | $ | 96 |  | $ | 30 |  | $ | 37 |  | $ | 25 |  | $ | 4 |  |
|  Purchase commitments (a)     | 463 |  | 404 |  | 45 |  | 12 |  | 2 |  |
|    Total            | 559 |  | 434 |  | 82 |  | 37 |  | 6 |  |
|                               |   |   |   |   |   |
| Contractual obligations reflected  |   |   |   |   |   |
| in the balance sheet:              |   |   |   |   |   |
|  Debt obligations (b)         | 4,905 |  | 141 |  | 1,148 |  | 927 |  | 2,689 |  |
|  Contingent consideration (c) | 245 |  | 178 |  | 27 |  | 40 |  | — |  |
|    Total            | 5,150 |  | 319 |  | 1,175 |  | 967 |  | 2,689 |  |
|                               |   |   |   |   |   |
| Grand Total (d)                    | $ | 5,709 |  | $ | 575 |  | $ | 1,230 |  | $ | 964 |  | $ | 2,695 |  |

|        |
|--------|
|        |  |  |  |
|   | (a) |   | These amounts include commitments for inventory purchases and capital expenditures that do not exceed our projected requirements and are in the normal course of business. The purchase commitment amounts do not represent the entire anticipated purchases and capital expenditures in the future, but only those for which we are contractually obligated. |

|        |
|--------|
|        |  |  |  |
|   | (b) |   | Includes current debt obligations, scheduled maturities of long-term debt and scheduled interest payments. See Note 4 to the Consolidated Financial Statements for additional information on our debt obligations. |

|        |
|--------|
|        |  |  |  |
|   | (c) |   | These amounts include contingent commitments to acquire various businesses involved in the distribution of our products and other contingent acquisition consideration payments. In connection with certain acquisitions, we may agree to provide additional consideration payments upon the achievement of certain product development milestones, which may include but are not limited to: successful levels of achievement in clinical trials and certain product regulatory approvals. We may also provide for additional consideration payments to be made upon the achievement of certain levels of future product sales. While it is not certain if and/or when these payments will be made, we have included the payments in the table based on our best estimates of the dates when we expect the milestones and/or contingencies will be met. Contingent consideration arrangements with variable interest entities have been excluded from the table, as we have the exclusive right, but not the obligation, to acquire these companies. See Note 2 to the Consolidated Financial Statements for further detail. |

|        |
|--------|
|        |  |  |  |
|   | (d) |   | The table does not include $315 million of unrecognized tax benefits and $37 million of associated accrued interest and penalties as of December 28, 2013, as we are uncertain as to if or when such amounts may be paid. Additionally, the table does not include other liabilities of $282 million pertaining to non-qualified deferred compensation because the timing of the future cash payments is uncertain. |

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|    |  |  |
| 1. |   | Competition, including product introductions by competitors that have advanced technology, better features or lower pricing. |
| 2. |   | Safety, performance or efficacy concerns about our products, many of which are expected to be implanted for many years, some of which may lead to recalls and/or advisories with the attendant expenses and declining sales. |
| 3. |   | A reduction in the number of procedures using our devices caused by cost-containment pressures, publication of adverse study results, initiation of investigations of our customers related to our devices or the development of or preferences for alternative technologies or therapies. |
| 4. |   | Declining industry-wide sales caused by product quality issues or recalls or advisories by us or our competitors that result in loss of physician and/or patient confidence in the safety, performance or efficacy of sophisticated medical devices in general and/or the types of medical devices recalled in particular. |
| 5. |   | Governmental legislation, including the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act, and/or regulation that significantly impacts the healthcare system in the United States or in international markets and that results in lower reimbursement for procedures using our products or denies coverage for such procedures, reduces medical procedure volumes or otherwise adversely affects our business and results of operations, including the imposition of any medical device excise tax. |
| 6. |   | Any changes to the U.S. Medicare or Medicaid systems or international reimbursement systems that significantly reduces reimbursement for procedures using our medical devices or denies coverage for such procedures, as well as adverse decisions relating to our products by administrators of such systems on coverage or reimbursement issues. |
| 7. |   | Changes in laws, regulations or administrative practices affecting government regulation of our products, such as FDA regulations, including those that decrease the probability or increase the time and/or expense of obtaining approval for products or impose additional burdens on the manufacture and sale of medical devices. |

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|-----|
|     |  |  |
| 8.  |   | Consolidation and other healthcare industry changes leading to demands for price concessions and/or limitations on, or the elimination of, our ability to sell in significant market segments. |
| 9.  |   | Failure to successfully complete, or unfavorable data from, clinical trials for our products or new indications for our products and/or failure to successfully develop markets for such new indications. |
| 10. |   | Conditions imposed in resolving, or any inability to timely resolve, any regulatory issues raised by the FDA, including Form 483 observations or warning letters, as well as risks generally associated with our health, safety and environmental regulatory compliance and quality systems. |
| 11. |   | Assertion, acquisition or grant of key patents by or to others that have the effect of excluding us from market segments or requiring us to pay royalties. |
| 12. |   | Adverse developments in litigation, including product liability litigation, patent or other intellectual property litigation, qui tam litigation or shareholder litigation. |
| 13. |   | Our ability to fund future product liability losses related to claims made subsequent to becoming self-insured. |
| 14. |   | Economic factors, including inflation, contraction in capital markets, changes in interest rates and changes in foreign currency exchange rates. |
| 15. |   | Disruptions in the financial markets or changes in economic conditions that adversely impact the availability and cost of credit and customer purchasing and payment patterns, including the collectability of customer accounts receivable. |
| 16. |   | The loss of, or price increases by, suppliers of key components, some of which are sole-sourced. |
| 17. |   | Inability to successfully integrate the businesses that we have acquired in recent years and that we plan to acquire. |
| 18. |   | Risks associated with our substantial international operations, including economic and political instability, currency fluctuations, changes in customs, tariffs and other trade restrictions and compliance with foreign laws. |
| 19. |   | Our inability to realize the expected benefits from our restructuring initiatives and continuous improvement efforts and the negative unintended consequences such activity could have. |
| 20. |   | Adverse developments in investigations and governmental proceedings. |
| 21. |   | Regulatory actions arising from concern over Bovine Spongiform Encephalopathy, sometimes referred to as “mad cow disease,” that have the effect of limiting our ability to market products using bovine collagen, such as Angio-Seal™, or products using bovine pericardial material, such as our Biocor®, Epic™, or and Trifecta™ tissue heart valves, or that impose added costs on the procurement of bovine collagen or bovine pericardial material. |
| 22. |   | Severe weather or other natural disasters that can adversely impact customer purchasing patterns and/or patient implant procedures or cause damage to the facilities of our critical suppliers or one or more of our facilities, such as an earthquake affecting our facilities in California and Costa Rica or a hurricane affecting our facilities in Puerto Rico and Malaysia. |
| 23. |   | Our inability to maintain, protect and enhance our existing information and manufacturing systems and our products that incorporate information technology or to develop new systems and products. |
| 24. |   | Changes in accounting rules or tax laws that adversely affect our results of operations, financial position or cash flows. |

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|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |
| Fiscal Year Ended                                              | December 28, 2013 |   | December 29, 2012 |   | December 31, 2011 |
| Net sales                                                      | $ | 5,501 |  |   | $ | 5,503 |  |   | $ | 5,612 |  |
| Cost of sales:                                                 |   |  |   |   |  |   |   |
| Cost of sales before special charges                           | 1,529 |  |   | 1,445 |  |   | 1,486 |  |
| Special charges                                                | 45 |  |   | 93 |  |   | 47 |  |
| Total cost of sales                                            | 1,574 |  |   | 1,538 |  |   | 1,533 |  |
| Gross profit                                                   | 3,927 |  |   | 3,965 |  |   | 4,079 |  |
| Selling, general and administrative expense                    | 1,884 |  |   | 1,891 |  |   | 2,084 |  |
| Research and development expense                               | 691 |  |   | 676 |  |   | 705 |  |
| Purchased in-process research and development charges          | — |  |   | — |  |   | 4 |  |
| Special charges                                                | 301 |  |   | 298 |  |   | 171 |  |
| Operating profit                                               | 1,051 |  |   | 1,100 |  |   | 1,115 |  |
| Other expense, net                                             | 267 |  |   | 95 |  |   | 96 |  |
| Earnings before income taxes and noncontrolling interest       | 784 |  |   | 1,005 |  |   | 1,019 |  |
| Income tax expense                                             | 92 |  |   | 253 |  |   | 193 |  |
| Net earnings before noncontrolling interest                    | 692 |  |   | 752 |  |   | 826 |  |
| Net loss attributable to noncontrolling interest               | (31 | ) |   | — |  |   | — |  |
| Net earnings attributable to St. Jude Medical, Inc.            | $ | 723 |  |   | $ | 752 |  |   | $ | 826 |  |
| Net earnings per share attributable to St. Jude Medical, Inc.: |   |  |   |   |  |   |   |
| Basic                                                          | $ | 2.52 |  |   | $ | 2.40 |  |   | $ | 2.55 |  |
| Diluted                                                        | $ | 2.49 |  |   | $ | 2.39 |  |   | $ | 2.52 |  |
| Cash dividends declared per share:                             | $ | 1.00 |  |   | $ | 0.92 |  |   | $ | 0.84 |  |
| Weighted average shares outstanding:                           |   |  |   |   |  |   |   |
| Basic                                                          | 287.0 |  |   | 313.3 |  |   | 324.3 |  |
| Diluted                                                        | 290.6 |  |   | 314.8 |  |   | 327.1 |  |

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|                                                                                                                             |
|-----------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                             |  |  |  |  |  |  |  |  |  |  |  |
| Fiscal Year Ended                                                                                                           | December 28, 2013 |   | December 29, 2012 |   | December 31, 2011 |
| Net earnings before noncontrolling interest                                                                                 | $ | 692 |  |   | $ | 752 |  |   | $ | 826 |  |
| Other comprehensive income (loss), net of tax:                                                                              |   |  |   |   |  |   |   |
| Unrealized gain on available-for-sale securities, net of taxes of $2 million, $1 million and $2 million, respectively       | 5 |  |   | 10 |  |   | 3 |  |
| Reclassification of realized gain on available-for-sale securities, net of taxes of $5 million and $6 million, respectively | (8 | ) |   | (8 | ) |   | — |  |
| Unrealized gain on derivative financial instruments, net of taxes                                                           | 3 |  |   | — |  |   | — |  |
| Foreign currency translation adjustment, net of taxes                                                                       | — |  |   | 28 |  |   | (71 | ) |
| Other comprehensive income (loss)                                                                                           | — |  |   | 30 |  |   | (68 | ) |
| Total comprehensive income before noncontrolling interest                                                                   | 692 |  |   | 782 |  |   | 758 |  |
| Total comprehensive loss attributable to noncontrolling interest                                                            | (31 | ) |   | — |  |   | — |  |
| Total comprehensive income attributable to St. Jude Medical, Inc.                                                           | $ | 723 |  |   | $ | 782 |  |   | $ | 758 |  |

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|                                                                                                                                                                                   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                   |  |  |  |  |  |  |  |
|                                                                                                                                                                              | December 28, 2013 |   | December 29, 2012 |
| ASSETS                                                                                                                                                                            |   |  |   |   |  |
| Current Assets                                                                                                                                                                    |   |  |   |   |  |
| Cash and cash equivalents                                                                                                                                                         | $ | 1,373 |  |   | $ | 1,194 |  |
| Accounts receivable, less allowance for doubtful accounts                                                                                                                         | 1,422 |  |   | 1,349 |  |
| Inventories                                                                                                                                                                       | 708 |  |   | 610 |  |
| Deferred income taxes, net                                                                                                                                                        | 229 |  |   | 220 |  |
| Other current assets                                                                                                                                                              | 178 |  |   | 178 |  |
| Total current assets                                                                                                                                                              | 3,910 |  |   | 3,551 |  |
| Property, Plant and Equipment                                                                                                                                                     |   |   |   |
| Land, building and improvements                                                                                                                                                   | 651 |  |   | 602 |  |
| Machinery and equipment                                                                                                                                                           | 1,674 |  |   | 1,603 |  |
| Diagnostic equipment                                                                                                                                                              | 474 |  |   | 424 |  |
| Property, plant and equipment at cost                                                                                                                                             | 2,799 |  |   | 2,629 |  |
| Less accumulated depreciation                                                                                                                                                     | (1,389 | ) |   | (1,204 | ) |
| Net property, plant and equipment                                                                                                                                                 | 1,410 |  |   | 1,425 |  |
| Goodwill                                                                                                                                                                          | 3,524 |  |   | 2,961 |  |
| Intangible assets, net                                                                                                                                                            | 911 |  |   | 804 |  |
| Deferred income taxes, net                                                                                                                                                        | 116 |  |   | 130 |  |
| Other assets                                                                                                                                                                      | 377 |  |   | 400 |  |
| TOTAL ASSETS                                                                                                                                                                      | $ | 10,248 |  |   | $ | 9,271 |  |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                        |   |  |   |   |  |
| Current Liabilities                                                                                                                                                               |   |  |   |   |  |
| Current debt obligations                                                                                                                                                          | $ | 62 |  |   | $ | 530 |  |
| Accounts payable                                                                                                                                                                  | 247 |  |   | 254 |  |
| Dividends payable                                                                                                                                                                 | 72 |  |   | 68 |  |
| Income taxes payable                                                                                                                                                              | 32 |  |   | 142 |  |
| Employee compensation and related benefits                                                                                                                                        | 312 |  |   | 299 |  |
| Other current liabilities                                                                                                                                                         | 655 |  |   | 482 |  |
| Total current liabilities                                                                                                                                                         | 1,380 |  |   | 1,775 |  |
| Long-term debt                                                                                                                                                                    | 3,518 |  |   | 2,550 |  |
| Deferred income taxes, net                                                                                                                                                        | 240 |  |   | 323 |  |
| Other liabilities                                                                                                                                                                 | 706 |  |   | 529 |  |
| Total liabilities                                                                                                                                                                 | 5,844 |  |   | 5,177 |  |
| Commitments and Contingencies (Note 5)                                                                                                                                            | — |  |   | — |  |
| Shareholders’ Equity                                                                                                                                                        |   |  |   |   |  |
| Preferred stock ($1.00 par value; 25,000,000 shares authorized; none outstanding)                                                                                                 | — |  |   | — |  |
| Common stock ($0.10 par value; 500,000,000 shares authorized; 289,117,352 and 295,648,327 shares issued and outstanding at December 28, 2013 and December 29, 2012, respectively) | 29 |  |   | 30 |  |
| Additional paid-in capital                                                                                                                                                        | 220 |  |   | — |  |
| Retained earnings                                                                                                                                                                 | 3,936 |  |   | 4,018 |  |
| Accumulated other comprehensive income                                                                                                                                            | 46 |  |   | 46 |  |
| Total shareholders' equity before noncontrolling interest                                                                                                                         | 4,231 |  |   | 4,094 |  |
| Noncontrolling interest                                                                                                                                                           | 173 |  |   | — |  |
| Total shareholders' equity                                                                                                                                                        | 4,404 |  |   | 4,094 |  |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                  | $ | 10,248 |  |   | $ | 9,271 |  |

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|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          |   |   |   |   |   |   |   |
|                                                          |   |   |   | Accumulated |   |   |
|                                                          | Common Stock | Additional |   | Other |   | Total |
|                                                          | Number of |   | Paid-In | Retained | Comprehensive | Noncontrolling | Shareholders' |
|                                                          | Shares | Amount | Capital | Earnings | Income | Interest | Equity |
| Balance at January 1, 2011                                    | 329,018,166 |  | $ | 33 |  | $ | 156 |  | $ | 4,099 |  | $ | 84 |  | $ | — |  | $ | 4,372 |  |
| Net earnings                                                  |   |   |   | 826 |  |   | — |  | 826 |  |
| Other comprehensive loss                                      |   |   |   |   | (68 | ) | — |  | (68 | ) |
| Cash dividends declared                                       |   |   |   | (272 | ) |   |   | (272 | ) |
| Repurchases of common stock                                   | (18,314,774 | ) | (2 | ) | (504 | ) | (269 | ) |   |   | (775 | ) |
| Stock-based compensation                                      |   |   | 76 |  |   |   |   | 76 |  |
| Common stock issued under employee stock plans and other, net | 8,912,573 |  | 1 |  | 302 |  |   |   |   | 303 |  |
| Tax benefit from stock plans                                  |   |   | 13 |  |   |   |   | 13 |  |
| Balance at December 31, 2011                                  | 319,615,965 |  | 32 |  | 43 |  | 4,384 |  | 16 |  | — |  | 4,475 |  |
| Net earnings                                                  |   |   |   | 752 |  |   | — |  | 752 |  |
| Other comprehensive income                                    |   |   |   |   | 30 |  | — |  | 30 |  |
| Cash dividends declared                                       |   |   |   | (284 | ) |   |   | (284 | ) |
| Repurchases of common stock                                   | (27,670,874 | ) | (3 | ) | (221 | ) | (834 | ) |   |   | (1,058 | ) |
| Stock-based compensation                                      |   |   | 69 |  |   |   |   | 69 |  |
| Common stock issued under employee stock plans and other, net | 3,703,236 |  | 1 |  | 118 |  |   |   |   | 119 |  |
| Tax shortfall from stock plans                                |   |   | (9 | ) |   |   |   | (9 | ) |
| Balance at December 29, 2012                                  | 295,648,327 |  | 30 |  | — |  | 4,018 |  | 46 |  | — |  | 4,094 |  |
| Net earnings                                                  |   |   |   | 723 |  |   | (31 | ) | 692 |  |
| Other comprehensive income                                    |   |   |   |   | — |  | — |  | — |  |
| Cash dividends declared                                       |   |   |   | (286 | ) |   |   | (286 | ) |
| Repurchases of common stock                                   | (18,385,436 | ) | (2 | ) | (287 | ) | (519 | ) |   |   | (808 | ) |
| Stock-based compensation                                      |   |   | 65 |  |   |   |   | 65 |  |
| Common stock issued under employee stock plans and other, net | 11,854,461 |  | 1 |  | 442 |  |   |   |   | 443 |  |
| Additions in noncontrolling ownership interests               |   |   |   |   |   | 204 |  | 204 |  |
| Balance at December 28, 2013                                  | 289,117,352 |  | $ | 29 |  | $ | 220 |  | $ | 3,936 |  | $ | 46 |  | $ | 173 |  | $ | 4,404 |  |

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|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |  |  |  |  |  |
| Fiscal Year Ended                                                            | December 28, 2013 |   | December 29, 2012 |   | December 31, 2011 |
| OPERATING ACTIVITIES                                                         |   |  |   |   |  |   |   |
| Net earnings                                                                 | $ | 692 |  |   | $ | 752 |  |   | $ | 826 |  |
| Adjustments to reconcile net earnings to net cash from operating activities: |   |  |   |   |  |   |   |
| Depreciation and amortization                                                | 297 |  |   | 284 |  |   | 296 |  |
| Amortization of debt premium, net                                            | (6 | ) |   | (11 | ) |   | (5 | ) |
| Inventory step-up amortization                                               | 4 |  |   | — |  |   | 30 |  |
| Contingent consideration fair value adjustment, net                          | 1 |  |   | — |  |   | — |  |
| Stock-based compensation                                                     | 65 |  |   | 69 |  |   | 76 |  |
| Excess tax benefits from stock issued under employee stock plans             | (15 | ) |   | (1 | ) |   | (9 | ) |
| Gain on sale of investments                                                  | (13 | ) |   | (14 | ) |   | — |  |
| Loss on retirement of long-term debt                                         | 161 |  |   | — |  |   | — |  |
| Purchased in-process research and development charges                        | — |  |   | — |  |   | 4 |  |
| Deferred income taxes, net                                                   | (124 | ) |   | (77 | ) |   | (65 | ) |
| Other, net                                                                   | 75 |  |   | 106 |  |   | 78 |  |
| Changes in operating assets and liabilities, net of business acquisitions:   |   |  |   |   |  |   |   |
| Accounts receivable                                                          | (100 | ) |   | 13 |  |   | (55 | ) |
| Inventories                                                                  | (99 | ) |   | 13 |  |   | 10 |  |
| Other current assets                                                         | 13 |  |   | 4 |  |   | 48 |  |
| Accounts payable and accrued expenses                                        | 31 |  |   | 29 |  |   | 39 |  |
| Income taxes payable                                                         | (21 | ) |   | 168 |  |   | 14 |  |
| Net cash provided by operating activities                                    | 961 |  |   | 1,335 |  |   | 1,287 |  |
| INVESTING ACTIVITIES                                                         |   |  |   |   |  |   |   |
| Purchases of property, plant and equipment                                   | (222 | ) |   | (280 | ) |   | (307 | ) |
| Business acquisition payments, net of cash acquired                          | (292 | ) |   | — |  |   | — |  |
| Proceeds from sale of investments                                            | 10 |  |   | 19 |  |   | — |  |
| Other investing activities, net                                              | (18 | ) |   | (52 | ) |   | (30 | ) |
| Net cash used in investing activities                                        | (522 | ) |   | (313 | ) |   | (337 | ) |
| FINANCING ACTIVITIES                                                         |   |  |   |   |  |   |   |
| Proceeds from exercise of stock options and stock issued, net                | 443 |  |   | 119 |  |   | 302 |  |
| Excess tax benefits from stock issued under employee stock plans             | 15 |  |   | 1 |  |   | 9 |  |
| Common stock repurchased, including related costs                            | (833 | ) |   | (992 | ) |   | (809 | ) |
| Dividends paid                                                               | (282 | ) |   | (284 | ) |   | (205 | ) |
| Issuances of commercial paper borrowings, net                                | 121 |  |   | 321 |  |   | 247 |  |
| Borrowings under debt facilities                                             | 2,092 |  |   | — |  |   | 78 |  |
| Payments under debt facilities                                               | (1,659 | ) |   | — |  |   | (78 | ) |
| Other financing activities, net                                              | (154 | ) |   | 22 |  |   | — |  |
| Net cash used in financing activities                                        | (257 | ) |   | (813 | ) |   | (456 | ) |
| Effect of currency exchange rate changes on cash and cash equivalents        | (3 | ) |   | (1 | ) |   | (8 | ) |
| Net increase in cash and cash equivalents                                    | 179 |  |   | 208 |  |   | 486 |  |
| Cash and cash equivalents at beginning of period                             | 1,194 |  |   | 986 |  |   | 500 |  |
| Cash and cash equivalents at end of period                                   | $ | 1,373 |  |   | $ | 1,194 |  |   | $ | 986 |  |
|                                                                         |   |   |   |   |   |
| Supplemental Cash Flow Information                                           |   |   |   |   |   |
| Cash paid during the year for:                                               |   |   |   |   |   |
|    Income taxes                                               | $ | 246 |  |   | $ | 177 |  |   | $ | 203 |  |
|    Interest                                                   | $ | 95 |  |   | $ | 69 |  |   | $ | 68 |  |
| Noncash investing and financing activities:                                  |   |   |   |   |   |
|    Additions in noncontrolling ownership interests            | $ | 204 |  |   | $ | — |  |   | $ | — |  |
|    Fair value of acquisition contingent consideration         | $ | 188 |  |   | $ | — |  |   | $ | — |  |

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|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |
|                   | December 28, 2013 |   | December 29, 2012 |
| Adjusted cost          | $ | 7 |  |   | $ | 9 |  |
| Gross unrealized gains | 28 |  |   | 32 |  |
| Fair value             | $ | 35 |  |   | $ | 41 |  |

|                 |
|-----------------|
|                 |  |  |  |  |  |  |  |
|            | December 28, 2013 |   | December 29, 2012 |
| Finished goods  | $ | 494 |  |   | $ | 416 |  |
| Work in process | 52 |  |   | 50 |  |
| Raw materials   | 162 |  |   | 144 |  |
|            | $ | 708 |  |   | $ | 610 |  |

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|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |
|                           | 2013 |   | 2012 |
| Balance at beginning of period | $ | 38 |  |   | $ | 36 |  |
| Warranty expense recognized    | 3 |  |   | 5 |  |
| Warranty credits issued        | (4 | ) |   | (3 | ) |
| Balance at end of period       | $ | 37 |  |   | $ | 38 |  |

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|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |  |  |  |  |  |  |  |
|                                                | 2013 |   | 2012 |   | 2011 |
| Numerator:                                          |   |   |   |   |   |  |
| Net earnings attributable to St. Jude Medical, Inc. | $ | 723 |  |   | $ | 752 |  |   | $ | 826 |  |
| Denominator:                                        |   |   |   |   |   |  |
| Basic weighted average shares outstanding           | 287.0 |  |   | 313.3 |  |   | 324.3 |  |
| Effect of dilutive securities:                      |   |   |   |   |   |  |
| Stock options                                       | 3.2 |  |   | 1.3 |  |   | 2.6 |  |
| Restricted stock units                              | 0.4 |  |   | 0.2 |  |   | 0.2 |  |
| Diluted weighted average shares outstanding         | 290.6 |  |   | 314.8 |  |   | 327.1 |  |
| Basic net earnings per share                        | $ | 2.52 |  |   | $ | 2.40 |  |   | $ | 2.55 |  |
| Diluted net earnings per share                      | $ | 2.49 |  |   | $ | 2.39 |  |   | $ | 2.52 |  |

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|                                                                 |
|-----------------------------------------------------------------|
|                                                                 |  |  |  |  |  |  |  |  |  |  |
|                                                            |   | Endosense | Nanostim | Total |
| Assets acquired:                                                |   |   |   |   |
| Current assets                                                  |   | $ | 2 |  | $ | 1 |  | $ | 3 |  |
| Goodwill                                                        |   | 258 |  | 149 |  | 407 |  |
| IPR&D                                                       |   | 33 |  | 27 |  | 60 |  |
| Other intangible assets                                         |   | 20 |  | 34 |  | 54 |  |
| Other long-term assets                                          |   | 1 |  | 1 |  | 2 |  |
|    Total assets acquired                         |   | 314 |  | 212 |  | 526 |  |
|                                                            |   |   |   |   |
| Liabilities assumed:                                            |   |   |   |   |
| Current liabilities                                             |   | 11 |  | 2 |  | 13 |  |
| Net assets acquired                                             |   | 303 |  | 210 |  | 513 |  |
|                                                            |   |   |   |   |
| Cash paid                                                       |   | 180 |  | 124 |  | 304 |  |
| Cash acquired                                                   |   | (9 | ) | (3 | ) | (12 | ) |
| Net cash consideration                                          |   | 171 |  | 121 |  | 292 |  |
| Contingent consideration                                        |   | 132 |  | 56 |  | 188 |  |
| Fair value of St. Jude Medical, Inc.'s previously held interest |   | — |  | 33 |  | 33 |  |
| Total purchase consideration                                    |   | $ | 303 |  | $ | 210 |  | $ | 513 |  |

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|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                |   | June 7, 2013 | December 28, 2013 |
| Cash and cash equivalents           |   | $ | 41 |  | $ | 25 |  |
| Other current assets                |   | 9 |  | 5 |  |
| Goodwill                            |   | 82 |  | 82 |  |
| IPR&D                           |   | 45 |  | 45 |  |
| Other intangible assets             |   | 7 |  | 7 |  |
| Other long-term assets              |   | 1 |  | 1 |  |
|    Total assets      |   | 185 |  | 165 |  |
|                                |   |   |   |
| Current liabilities                 |   | 6 |  | 5 |  |
| Deferred income taxes, net          |   | 19 |  | 19 |  |
|    Total liabilities |   | 25 |  | 24 |  |
|                                |   |   |   |
| Non-controlling interest            |   | $ | 120 |  | $ | 104 |  |

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|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |
|                                |   | February 27, 2013 | December 28, 2013 |
| Cash and cash equivalents           |   | $ | 33 |  | $ | 14 |  |
| Other current assets                |   | 2 |  | 6 |  |
| Goodwill                            |   | 83 |  | 83 |  |
| IPR&D                           |   | 63 |  | 63 |  |
| Other long-term assets              |   | 2 |  | 2 |  |
|    Total assets      |   | 183 |  | 168 |  |
|                                |   |   |   |
| Current liabilities                 |   | 13 |  | 7 |  |
| Deferred income taxes, net          |   | 23 |  | 23 |  |
| Other liabilities                   |   | 5 |  | 4 |  |
|    Total liabilities |   | 41 |  | 34 |  |
|                                |   |   |   |
| Noncontrolling interest             |   | $ | 84 |  | $ | 68 |  |

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|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |  |  |
|                                   | IESD |   | CATD |   | Total |
| Balance at December 31, 2011           | $ | 1,235 |  |   | $ | 1,718 |  |   | $ | 2,953 |  |
| Foreign currency translation and other | (6 | ) |   | 14 |  |   | 8 |  |
| Balance at December 29, 2012           | 1,229 |  |   | 1,732 |  |   | 2,961 |  |
| Endosense S.A.                         | — |  |   | 258 |  |   | 258 |  |
| Nanostim, Inc.                         | 149 |  |   | — |  |   | 149 |  |
| Spinal Modulation, Inc.                | 82 |  |   | — |  |   | 82 |  |
| CardioMEMS, Inc.                       | 83 |  |   | — |  |   | 83 |  |
| Foreign currency translation and other | (17 | ) |   | 8 |  |   | (9 | ) |
| Balance at December 28, 2013           | $ | 1,526 |  |   | $ | 1,998 |  |   | $ | 3,524 |  |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        | December 28, 2013 |   | December 29, 2012 |
|                                        | GrossCarryingAmount |   | AccumulatedAmortization |   | GrossCarryingAmount |   | AccumulatedAmortization |
| Definite-lived intangible assets:           |   |  |   |   |  |   |   |  |   |   |  |
| Purchased technology and patents            | $ | 986 |  |   | $ | 393 |  |   | $ | 947 |  |   | $ | 336 |  |
| Customer lists and relationships            | 20 |  |   | 13 |  |   | 57 |  |   | 36 |  |
| Trademarks and tradenames                   | 22 |  |   | 11 |  |   | 22 |  |   | 10 |  |
| Licenses, distribution agreements and other | 4 |  |   | 1 |  |   | 6 |  |   | 4 |  |
|                                        | $ | 1,032 |  |   | $ | 418 |  |   | $ | 1,032 |  |   | $ | 386 |  |
| Indefinite-lived intangible assets:         |   |  |   |   |  |   |   |  |   |   |  |
| Acquired IPR&D                          | $ | 262 |  |   |   |  |   | $ | 109 |  |   |   |  |
| Trademarks and tradenames                   | 35 |  |   |   |  |   | 49 |  |   |   |  |
|                                        | $ | 297 |  |   |   |  |   | $ | 158 |  |   |   |  |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   |   |   |   |   |   |   |   |   |   | After |
|                             | 2014 |   | 2015 |   | 2016 |   | 2017 |   | 2018 |   | 2018 |
|   Amortization expense | $ | 90 |  |   | $ | 95 |  |   | $ | 101 |  |   | $ | 93 |  |   | $ | 87 |  |   | $ | 410 |  |

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|                                                      |
|------------------------------------------------------|
|                                                      |  |  |  |  |  |  |  |
|                                                 | December 28, 2013 |   | December 29, 2012 |
| Term loan due 2015                                   | $ | 500 |  |   | $ | — |  |
| 2.50% senior notes due 2016                          | 512 |  |   | 518 |  |
| 3.25% senior notes due 2023                          | 896 |  |   | — |  |
| 4.75% senior notes due 2043                          | 696 |  |   | — |  |
| 3.75% senior notes due 2014 (redeemed May 2013)      | — |  |   | 699 |  |
| 4.875% senior notes due 2019 (redeemed May 2013)     | — |  |   | 496 |  |
| 2.20% senior notes due 2013 (retired September 2013) | — |  |   | 454 |  |
| 1.58% Yen-denominated senior notes due 2017          | 78 |  |   | 95 |  |
| 2.04% Yen-denominated senior notes due 2020          | 122 |  |   | 149 |  |
| Yen-denominated credit facilities                    | 62 |  |   | 76 |  |
| Commercial paper borrowings                          | 714 |  |   | 593 |  |
| Total debt                                           | 3,580 |  |   | 3,080 |  |
| Less: current debt obligations                       | 62 |  |   | 530 |  |
| Long-term debt                                       | $ | 3,518 |  |   | $ | 2,550 |  |

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|                                                                                  |
|----------------------------------------------------------------------------------|
|                                                                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                             | Unrealized | Unrealized | Foreign | Accumulated |
|                                                                             | Gain (Loss) On | Gain (Loss) On | Currency | Other |
|                                                                             | Available-for-sale | Derivative | Translation | Comprehensive |
|                                                                             | Securities | Instruments | Adjustment | Income |
| Accumulated other comprehensive income (loss), net of tax, at January 1, 2011    | $ | 15 |  | $ | — |  | $ | 69 |  | $ | 84 |  |
| Other comprehensive income (loss) before reclassifications                       | 3 |  | — |  | (71 | ) | (68 | ) |
| Amounts reclassified to net earnings from accumulated other comprehensive income | — |  | — |  | — |  | — |  |
| Other comprehensive income (loss)                                                | 3 |  | — |  | (71 | ) | (68 | ) |
| Accumulated other comprehensive income (loss), net of tax, at December 31, 2011  | 18 |  | — |  | (2 | ) | 16 |  |
| Other comprehensive income (loss) before reclassifications                       | 10 |  | — |  | 28 |  | 38 |  |
| Amounts reclassified to net earnings from accumulated other comprehensive income | (8 | ) | — |  | — |  | (8 | ) |
| Other comprehensive income (loss)                                                | 2 |  | — |  | 28 |  | 30 |  |
| Accumulated other comprehensive income (loss), net of tax, at December 29, 2012  | 20 |  | — |  | 26 |  | 46 |  |
| Other comprehensive income (loss) before reclassifications                       | 5 |  | 3 |  | — |  | 8 |  |
| Amounts reclassified to net earnings from accumulated other comprehensive income | (8 | ) | — |  | — |  | (8 | ) |
| Other comprehensive income (loss)                                                | (3 | ) | 3 |  | — |  | — |  |
| Accumulated other comprehensive income (loss), net of tax, at December 28, 2013  | $ | 17 |  | $ | 3 |  | $ | 26 |  | $ | 46 |  |

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |
|                                              | Amounts reclassified from accumulated other comprehensive income |   |
|                                              | 2013 | 2012 | 2011 | Statements of Earnings Classification |
| Unrealized gain on available-for-sale securities: |   |
| Gain on sale of available-for-sale securities     | $ | 13 |  | $ | 14 |  | $ | — |  | Other expense, net |
|                                              | (5 | ) | (6 | ) | — |  | Income tax expense |
|                                              | 8 |  | 8 |  | — |  | Net earnings before noncontrolling interest |
|                                              | $ | 8 |  | $ | 8 |  | $ | — |  | Net earnings attributable to St. Jude Medical, Inc. |

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|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |
|                                         | 2013 |   | 2012 |   | 2011 |
| Selling, general and administrative expense  | $ | 45 |  |   | $ | 49 |  |   | $ | 55 |  |
| Research and development expense             | 15 |  |   | 15 |  |   | 15 |  |
| Cost of sales                                | 5 |  |   | 5 |  |   | 6 |  |
|   Total stock compensation expense | $ | 65 |  |   | $ | 69 |  |   | $ | 76 |  |

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|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |  |  |  |  |  |
|                                | 2013 |   | 2012 |   | 2011 |
| Fair value of options granted       | $ | 13.83 |  |   | $ | 7.71 |  |   | $ | 9.17 |  |
| Assumptions:                        |   |   |   |   |   |
|   Expected life (years)   | 5.4 |  |   | 5.4 |  |   | 5.5 |  |
|   Risk-free interest rate | 1.6 | % |   | 0.7 | % |   | 0.9 | % |
|   Volatility              | 28.6 | % |   | 31.2 | % |   | 33.9 | % |
|   Dividend yield          | 1.8 | % |   | 2.5 | % |   | 2.0 | % |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |  |  |  |  |  |
|                             |   |   |   |   | Weighted |   |   |
|                             |   |   | Weighted |   | Average |   | Aggregate |
|                             |   |   | Average |   | Remaining |   | Intrinsic |
|                             | Options |   | Exercise |   | Contractual |   | Value |
|                             | (in millions) |   | Price |   | Term (in years) |   | (in millions) |
| Outstanding at December 29, 2012 | 28.2 |  |   | $ | 38.05 |  |   |   |   |   |
|   Granted              | 2.7 |  |   | 59.16 |  |   |   |   |   |
|   Exercised            | (10.6 | ) |   | 39.83 |  |   |   |   |   |
|   Canceled             | (1.4 | ) |   | 40.05 |  |   |   |   |   |
| Outstanding at December 28, 2013 | 18.9 |  |   | $ | 39.94 |  |   | 5.3 |   | $ | 422 |  |
| Vested and expected to vest      | 18.2 |  |   | $ | 39.70 |  |   | 5.2 |   | $ | 409 |  |
| Exercisable at December 28, 2013 | 10.6 |  |   | $ | 37.07 |  |   | 4.1 |   | $ | 267 |  |

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|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |
|                                  |   |   | Weighted Average |
|                                  | Restricted Stock |   | Grant Date |
|                                  | (in millions) |   | Fair Value |
| Unvested balance at December 29, 2012 | 1.6 |  |   | $ | 36.61 |  |
| Granted                               | 0.7 |  |   | 58.32 |  |
| Vested                                | (0.5 | ) |   | 37.45 |  |
| Canceled                              | (0.2 | ) |   | 36.96 |  |
| Unvested balance at December 28, 2013 | 1.6 |  |   | $ | 45.98 |  |

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|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                          | EmployeeTerminationCosts |   | InventoryCharges |   | FixedAssetCharges |   | Other Restructuring Costs |   | Total |
| Balance at December 31, 2011  | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Cost of sales special charges | 5 |  |   | 17 |  |   | — |  |   | 2 |  |   | 24 |  |
| Special charges               | 104 |  |   | — |  |   | 41 |  |   | 16 |  |   | 161 |  |
| Non-cash charges used         | — |  |   | (17 | ) |   | (41 | ) |   | (3 | ) |   | (61 | ) |
| Cash payments                 | (52 | ) |   | — |  |   | — |  |   | (7 | ) |   | (59 | ) |
| Foreign exchange rate impact  | 1 |  |   | — |  |   | — |  |   | — |  |   | 1 |  |
| Balance at December 29, 2012  | 58 |  |   | — |  |   | — |  |   | 8 |  |   | 66 |  |
| Cost of sales special charges | — |  |   | 30 |  |   | — |  |   | 5 |  |   | 35 |  |
| Special charges               | 75 |  |   | — |  |   | 13 |  |   | 97 |  |   | 185 |  |
| Non-cash charges used         | — |  |   | (30 | ) |   | (13 | ) |   | (4 | ) |   | (47 | ) |
| Cash payments                 | (79 | ) |   | — |  |   | — |  |   | (73 | ) |   | (152 | ) |
| Foreign exchange rate impact  | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Balance at December 28, 2013  | $ | 54 |  |   | $ | — |  |   | $ | — |  |   | $ | 33 |  |   | $ | 87 |  |

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|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                          | EmployeeTerminationCosts |   | InventoryCharges |   | FixedAssetCharges |   | Other Restructuring Costs |   | Total |
| Balance at January 1, 2011    | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Cost of sales special charges | 9 |  |   | 20 |  |   | 9 |  |   | 9 |  |   | 47 |  |
| Special charges               | 73 |  |   | — |  |   | 17 |  |   | 25 |  |   | 115 |  |
| Non-cash charges used         | — |  |   | (20 | ) |   | (26 | ) |   | (1 | ) |   | (47 | ) |
| Cash payments                 | (27 | ) |   | — |  |   | — |  |   | (15 | ) |   | (42 | ) |
| Foreign exchange rate impact  | (1 | ) |   | — |  |   | — |  |   | — |  |   | (1 | ) |
| Balance at December 31, 2011  | 54 |  |   | — |  |   | — |  |   | 18 |  |   | 72 |  |
| Cost of sales special charges | 11 |  |   | 13 |  |   | — |  |   | 20 |  |   | 44 |  |
| Special charges               | 27 |  |   | — |  |   | — |  |   | 31 |  |   | 58 |  |
| Non-cash charges used         | — |  |   | (13 | ) |   | — |  |   | (4 | ) |   | (17 | ) |
| Cash payments                 | (68 | ) |   | — |  |   | — |  |   | (47 | ) |   | (115 | ) |
| Foreign exchange rate impact  | 1 |  |   | — |  |   | — |  |   | (1 | ) |   | — |  |
| Balance at December 29, 2012  | 25 |  |   | — |  |   | — |  |   | 17 |  |   | 42 |  |
| Cost of sales special charges | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Special charges               | 5 |  |   | — |  |   | 1 |  |   | 18 |  |   | 24 |  |
| Non-cash charges used         | — |  |   | — |  |   | (1 | ) |   | — |  |   | (1 | ) |
| Cash payments                 | (21 | ) |   | — |  |   | — |  |   | (29 | ) |   | (50 | ) |
| Foreign exchange rate impact  | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Balance at December 28, 2013  | $ | 9 |  |   | $ | — |  |   | $ | — |  |   | $ | 6 |  |   | $ | 15 |  |

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|                    |
|--------------------|
|                    |  |  |  |  |  |  |  |  |  |  |  |
|               | 2013 |   | 2012 |   | 2011 |
| Interest income    | $ | (5 | ) |   | $ | (5 | ) |   | $ | (4 | ) |
| Interest expense   | 81 |  |   | 73 |  |   | 70 |  |
| Other              | 191 |  |   | 27 |  |   | 30 |  |
| Other expense, net | $ | 267 |  |   | $ | 95 |  |   | $ | 96 |  |

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | 2013 |   | 2012 |   | 2011 |
| U.S.                                                     | $ | (17 | ) |   | $ | 316 |  |   | $ | 502 |  |
| International                                            | 801 |  |   | 689 |  |   | 517 |  |
| Earnings before income taxes and noncontrolling interest | $ | 784 |  |   | $ | 1,005 |  |   | $ | 1,019 |  |

|                                                   |
|---------------------------------------------------|
|                                                   |  |  |  |  |  |  |  |  |  |  |  |
|                                              | 2013 |   | 2012 |   | 2011 |
| Current:                                          |   |   |   |   |   |
|   U.S. federal                          | $ | 101 |  |   | $ | 236 |  |   | $ | 180 |  |
|   U.S. state and other                  | 7 |  |   | 16 |  |   | 13 |  |
|   International                         | 108 |  |   | 78 |  |   | 65 |  |
|       Total current | 216 |  |   | 330 |  |   | 258 |  |
| Deferred                                          | (124 | ) |   | (77 | ) |   | (65 | ) |
| Income tax expense                                | $ | 92 |  |   | $ | 253 |  |   | $ | 193 |  |

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|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |
|                                             | 2013 |   | 2012 |
| Deferred income tax assets:                      |   |   |   |
| Net operating and capital loss carryforwards     | $ | 402 |  |   | $ | 236 |  |
| Tax credit carryforwards                         | 75 |  |   | 70 |  |
| Inventories                                      | 136 |  |   | 148 |  |
| Stock-based compensation                         | 47 |  |   | 78 |  |
| Compensation and benefits                        | 123 |  |   | 113 |  |
| R&D expenditures, capitalized for tax        | 112 |  |   | — |  |
| Accrued liabilities and other                    | 130 |  |   | 133 |  |
|                                             | 1,025 |  |   | 778 |  |
| Less: valuation allowance                        | (368 | ) |   | (228 | ) |
| Deferred income tax assets                       | 657 |  |   | 550 |  |
| Deferred income tax liabilities:                 |   |   |   |
| Unrealized gain on available-for-sale securities | (11 | ) |   | (12 | ) |
| Property, plant and equipment                    | (189 | ) |   | (204 | ) |
| Intangible assets                                | (352 | ) |   | (307 | ) |
| Deferred income tax liabilities                  | (552 | ) |   | (523 | ) |
| Net deferred income tax assets (liabilities)     | $ | 105 |  |   | $ | 27 |  |

|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |  |  |  |  |
|                                                | 2013 |   | 2012 |   | 2011 |
| U.S. federal statutory tax rate                     | 35.0 |  % |   | 35.0 |  % |   | 35.0 |  % |
| Increase (decrease) in tax rate resulting from:     |   |   |   |   |   |
| U.S. state income taxes, net of federal tax benefit | 0.6 |  |   | 0.5 |  |   | 1.2 |  |
| International taxes at lower rates                  | (13.6 | ) |   | (12.1 | ) |   | (11.6 | ) |
| Tax benefits from domestic manufacturer's deduction | (1.9 | ) |   | (2.2 | ) |   | (2.0 | ) |
| Research and development credits                    | (4.6 | ) |   | (1.1 | ) |   | (2.7 | ) |
| Puerto Rico excise tax                              | (3.0 | ) |   | (1.8 | ) |   | (1.7 | ) |
| Tax settlements                                     | (1.9 | ) |   | 4.6 |  |   | — |  |
| Noncontrolling interest                             | 3.6 |  |   | — |  |   | — |  |
| Other                                               | (2.5 | ) |   | 2.3 |  |   | 0.8 |  |
| Effective income tax rate                           | 11.7 |  % |   | 25.2 |  % |   | 19.0 |  % |

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|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 | 2013 |   | 2012 |   | 2011 |
| Balance at beginning of year                                         | $ | 314 |  |   | $ | 205 |  |   | $ | 163 |  |
| Increases related to current year tax positions                      | 74 |  |   | 38 |  |   | 33 |  |
| Increases related to prior year tax positions                        | 33 |  |   | 90 |  |   | 16 |  |
| Reductions related to prior year tax positions                       | (16 | ) |   | (18 | ) |   | (1 | ) |
| Reductions related to settlements / payments                         | (90 | ) |   | (1 | ) |   | (2 | ) |
| Expiration of the statute of limitations for the assessment of taxes | — |  |   | — |  |   | (4 | ) |
| Balance at end of year                                               | $ | 315 |  |   | $ | 314 |  |   | $ | 205 |  |

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|         |                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------|
| • | Level 1 – Inputs to the fair value measurement are quoted prices in active markets for identical assets or liabilities. |

|         |                                                                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 2 – Inputs to the fair value measurement include quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. |

|         |                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------|
| • | Level 3 – Inputs to the fair value measurement are unobservable inputs or valuation techniques. |

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|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                          | Balance SheetClassification | December 28, 2013 |   | Quoted PricesIn ActiveMarkets(Level 1) |   | SignificantOtherObservableInputs(Level 2) |   | SignificantUnobservableInputs(Level 3) |
| Assets                        |   |   |  |   |   |  |   |   |  |   |   |  |
| Money-market securities       | Cash and cash equivalents | $ | 875 |  |   | $ | 875 |  |   | $ | — |  |   | $ | — |  |
| Available-for-sale securities | Other current assets | 35 |  |   | 35 |  |   | — |  |   | — |  |
| Trading securities            | Other assets | 279 |  |   | 279 |  |   | — |  |   | — |  |
| Total assets                  |   | 1,189 |  |   | 1,189 |  |   | — |  |   | — |  |
|                          |   |   |   |   |   |   |   |   |
| Liabilities                   |   |   |   |   |   |   |   |   |
| Contingent consideration      | Other liabilities | 195 |  |   | — |  |   | — |  |   | 195 |  |
| Total liabilities             |   | $ | 195 |  |   | $ | — |  |   | $ | — |  |   | $ | 195 |  |

|                               |
|-------------------------------|
|                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                          | Balance SheetClassification | December 29, 2012 |   | Quoted PricesIn ActiveMarkets(Level 1) |   | SignificantOtherObservableInputs(Level 2) |   | SignificantUnobservableInputs(Level 3) |
| Assets                        |   |   |  |   |   |  |   |   |  |   |   |  |
| Money-market securities       | Cash and cash equivalents | $ | 964 |  |   | $ | 964 |  |   | $ | — |  |   | $ | — |  |
| Available-for-sale securities | Other current assets | 41 |  |   | 41 |  |   | — |  |   | — |  |
| Trading securities            | Other assets | 231 |  |   | 231 |  |   | — |  |   | — |  |
| Total assets                  |   | $ | 1,236 |  |   | $ | 1,236 |  |   | $ | — |  |   | $ | — |  |

|                                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |  |
| Contingent Consideration Liability       | Fair Value as of December 28, 2013 | Valuation Technique |   | Unobservable Input |   | Range |
|                                     |   |   |   |   |   |   |   |   |
| Endosense regulatory-based milestone     | $ | 139 |  | Probability Weighted Discounted Cash Flow |   | Discount Rate |   | 1.15% | - | 1.59% |
|                                     |   |   |   | Probability of Payment |   |   |   | 90% |
|                                     |   |   |   | Projected Year of Payment |   |   |   | 2014 |
|                                     |   |   |   |   |   |   |   |   |
| Nanostim regulatory-based milestone      | 56 |  | Probability Weighted Discounted Cash Flow |   | Discount Rate |   |   |   | 5.00% |
|                                     |   |   |   | Probability of Payment |   |   |   | 100% |
|                                     |   |   |   | Projected Years of Three Annual Payments |   | 2016, 2017, 2018 |
| Total contingent consideration liability | $ | 195 |  |   |   |   |   |   |   |   |

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|                                                  |
|--------------------------------------------------|
|                                                  |  |  |  |  |  |  |  |  |  |
|                                             | Endosense | Nanostim | Total |
| Balance as of December 29, 2012                  | $ | — |  | $ | — |  | $ | — |  |
| Purchase price contingent consideration          | 132 |  | 56 |  | 188 |  |
| Change in fair value of contingent consideration | 1 |  | — |  | 1 |  |
| Foreign currency translation                     | 6 |  | — |  | 6 |  |
| Balance as of December 28, 2013                  | $ | 139 |  | $ | 56 |  | $ | 195 |  |

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|                                       |
|---------------------------------------|
|                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                  | IESD |   | CATD |   | Other |   | Total |
| Fiscal Year 2013                      |   |  |   |   |  |   |   |  |   |   |  |
| Net sales                             | $ | 3,209 |  |   | $ | 2,292 |  |   | $ | — |  |   | $ | 5,501 |  |
| Operating profit                      | 2,138 |  |   | 1,349 |  |   | (2,436 | ) |   | 1,051 |  |
| Depreciation and amortization expense | 80 |  |   | 89 |  |   | 128 |  |   | 297 |  |
| Total assets                          | 2,855 |  |   | 3,273 |  |   | 4,120 |  |   | 10,248 |  |
| Fiscal Year 2012                      |   |  |   |   |  |   |   |  |   |   |  |
| Net sales                             | $ | 3,277 |  |   | $ | 2,226 |  |   | $ | — |  |   | $ | 5,503 |  |
| Operating profit                      | 2,274 |  |   | 1,326 |  |   | (2,500 | ) |   | 1,100 |  |
| Depreciation and amortization expense | 73 |  |   | 91 |  |   | 120 |  |   | 284 |  |
| Total assets                          | 2,320 |  |   | 2,967 |  |   | 3,984 |  |   | 9,271 |  |
| Fiscal Year 2011                      |   |   |   |   |   |   |   |
| Net sales                             | $ | 3,453 |  |   | $ | 2,159 |  |   | $ | — |  |   | $ | 5,612 |  |
| Operating profit                      | 2,240 |  |   | 1,211 |  |   | (2,336 | ) |   | 1,115 |  |
| Depreciation and amortization expense | 87 |  |   | 84 |  |   | 125 |  |   | 296 |  |
| Total assets                          | 2,394 |  |   | 3,086 |  |   | 3,638 |  |   | 9,118 |  |

|               |
|---------------|
|               |  |  |  |  |  |  |  |  |  |  |  |
| Net Sales     | 2013 |   | 2012 |   | 2011 |
| United States | $ | 2,596 |  |   | $ | 2,594 |  |   | $ | 2,648 |  |
| International |   |   |   |   |   |  |
| Europe        | 1,473 |  |   | 1,432 |  |   | 1,559 |  |
| Japan         | 567 |  |   | 665 |  |   | 641 |  |
| Asia Pacific  | 490 |  |   | 456 |  |   | 416 |  |
| Other         | 375 |  |   | 356 |  |   | 348 |  |
|          | 2,905 |  |   | 2,909 |  |   | 2,964 |  |
|          | $ | 5,501 |  |   | $ | 5,503 |  |   | $ | 5,612 |  |

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|                   |
|-------------------|
|                   |  |  |  |  |  |  |  |  |  |  |  |
| Long-Lived Assets | December 28, 2013 |   | December 29, 2012 |   | December 31, 2011 |
| United States     | $ | 1,045 |  |   | $ | 1,036 |  |   | $ | 1,007 |  |
| International     |   |  |   |   |  |   |   |
| Europe            | 73 |  |   | 82 |  |   | 84 |  |
| Japan             | 28 |  |   | 32 |  |   | 31 |  |
| Asia Pacific      | 75 |  |   | 82 |  |   | 81 |  |
| Other             | 189 |  |   | 193 |  |   | 185 |  |
|              | 365 |  |   | 389 |  |   | 381 |  |
|              | $ | 1,410 |  |   | $ | 1,425 |  |   | $ | 1,388 |  |

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|                                                         |
|---------------------------------------------------------|
|                                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                    | First |   | Second |   | Third |   | Fourth |   |
| (in millions, except per share amounts)                 | Quarter |   | Quarter |   | Quarter |   | Quarter |   |
|                                                    |   |   |   |   |   |   |   |   |
| Fiscal Year 2013:                                       |   |   |   |   |   |   |   |   |
| Net sales                                               | $ | 1,338 |  |   | $ | 1,403 |  |   | $ | 1,338 |  |   | $ | 1,422 |  |   |
| Gross profit                                            | 961 |  |   | 1,021 |  |   | 953 |  |   | 992 |  |   |
| Net earnings attributable to St. Jude Medical, Inc. (a) | 223 |  | (b) | 115 |  | (c) | 262 |  | (d) | 123 |  | (e) |
| Basic net earnings per share                            | $ | 0.78 |  |   | $ | 0.41 |  |   | $ | 0.91 |  |   | $ | 0.42 |  |   |
| Diluted net earnings per share                          | $ | 0.78 |  |   | $ | 0.40 |  |   | $ | 0.90 |  |   | $ | 0.42 |  |   |
| Cash dividends declared per share                       | $ | 0.25 |  |   | $ | 0.25 |  |   | $ | 0.25 |  |   | $ | 0.25 |  |   |
|                                                    |   |   |   |   |   |   |   |   |
| Fiscal Year 2012:                                       |   |   |   |   |   |   |   |   |
| Net sales                                               | $ | 1,395 |  |   | $ | 1,410 |  |   | $ | 1,326 |  |   | $ | 1,372 |  |   |
| Gross profit                                            | 1,014 |  |   | 1,027 |  |   | 971 |  |   | 953 |  |   |
| Net earnings attributable to St. Jude Medical, Inc. (f) | 212 |  | (g) | 244 |  |   | 176 |  | (h) | 120 |  | (i) |
| Basic net earnings per share                            | $ | 0.67 |  |   | $ | 0.78 |  |   | $ | 0.56 |  |   | $ | 0.39 |  |   |
| Diluted net earnings per share                          | $ | 0.67 |  |   | $ | 0.78 |  |   | $ | 0.56 |  |   | $ | 0.39 |  |   |
| Cash dividends declared per share                       | $ | 0.23 |  |   | $ | 0.23 |  |   | $ | 0.23 |  |   | $ | 0.23 |  |   |

|     |                                                                                                                                                                                                                                                                                                                                                                                                         |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | Restructuring and realignment activities related to previously announced actions as the Company continues to integrate its product divisions and centralize certain support functions resulted in after-tax special charges of $32 million for the first quarter, $34 million for the second quarter, $13 million for the third quarter and $97 million for the fourth quarter of 2013. |

|     |                                                                                                                                                                                                                                                                                                                                                                                |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Includes after-tax acquisition-related charges of $29 million to adjust the carrying value of the Company's pre-existing CardioMEMS equity investment and fixed price purchase option to fair value and a $21 million income tax benefit related to extending the 2012 federal research and development tax credit, retroactive to the beginning of our 2012 tax year. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (c) | Includes $101 million of after-tax debt retirement costs primarily associated with the make-whole redemption payments and the write-off of unamortized debt issuance costs, $14 million of after-tax special charges related to a license dispute settlement charge, $8 million related to after-tax special charges associated with intangible asset impairment charges and $3 million of after-tax acquisition-related costs. |

|     |                                                                                                                                                                                   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (d) | Includes a $15 million income tax benefit related to the settlement of domestic tax audits and $2 million of after-tax charges associated with acquisition-related costs. |

|     |                                                                                                                                                                                                                                                                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (e) | Includes $25 million of after-tax special charges associated with IESD litigation and field action costs, $19 million of after-tax special charges related to intangible asset impairment charges, $15 million of after-tax acquisition-related costs and a $15 million income tax expense charge related to prior year uncertain tax positions in foreign jurisdictions. |

|     |                                                                                                                                                                                                                                                            |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (f) | Restructuring and realignment activities resulted in after-tax special charges of $29 million for the first quarter, $27 million for the second quarter, $66 million for the third quarter and $75 million for the fourth quarter of 2012. |

|     |                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------|
| (g) | Includes after-tax special charges of $25 million related to a license dispute settlement charge. |

|     |                                                                                                |
|-----|------------------------------------------------------------------------------------------------|
| (h) | Includes after-tax special charges of $15 million for intangible asset impairment charges. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (i) | Includes after-tax special charges of $27 million related to IESD litigation and field action costs and after-tax special charges of $11 million for intangible asset impairment charges and CATD inventory write-offs associated with discontinued product lines. Additionally, the Company recognized $46 million of additional income tax expense related to a settlement reserve for certain prior year tax positions. |

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|                                                                       |
|-----------------------------------------------------------------------|
|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                  |   | 2013 |   | 2012 |   | 2011 |   | 2010 |   | 2009 |
| Summary of Operations for the Fiscal Year:                            |
| Net sales                                                             |   | $ | 5,501 |  |   | $ | 5,503 |  |   | $ | 5,612 |  |   | $ | 5,164 |  |   | $ | 4,681 |  |
| Gross profit                                                          |   | 3,927 |  |   | 3,965 |  |   | 4,079 |  |   | 3,754 |  |   | 3,428 |  |
| Percent of net sales                                                  |   | 71.4 | % |   | 72.1 | % |   | 72.7 | % |   | 72.7 | % |   | 73.2 | % |
| Operating profit                                                      |   | 1,051 |  |   | 1,100 |  |   | 1,115 |  |   | 1,276 |  |   | 1,113 |  |
| Percent of net sales                                                  |   | 19.1 | % |   | 20.0 | % |   | 19.9 | % |   | 24.7 | % |   | 23.8 | % |
| Net earnings attributable to St. Jude Medical, Inc.                   |   | $ | 723 |  |   | $ | 752 |  |   | $ | 826 |  |   | $ | 907 |  |   | $ | 777 |  |
| Percent of net sales                                                  |   | 13.1 | % |   | 13.7 | % |   | 14.7 | % |   | 17.6 | % |   | 16.6 | % |
| Diluted net earnings per share attributable to St. Jude Medical, Inc. |   | $ | 2.49 |  | (a) | $ | 2.39 |  | (b) | $ | 2.52 |  |   | $ | 2.75 |  |   | $ | 2.26 |  |
| Cash dividends declared per share (c)                                 |   | $ | 1.00 |  |   | $ | 0.92 |  |   | $ | 0.84 |  |   | $ | — |  |   | $ | — |  |
| Financial Position at Year End:                                       |
| Cash and cash equivalents                                             |   | $ | 1,373 |  |   | $ | 1,194 |  |   | $ | 986 |  |   | $ | 500 |  |   | $ | 393 |  |
| Working capital (d)                                                   |   | 2,530 |  |   | 1,776 |  |   | 2,323 |  |   | 1,895 |  |   | 1,493 |  |
| Total assets                                                          |   | 10,248 |  |   | 9,271 |  |   | 9,118 |  |   | 8,566 |  |   | 6,426 |  |
| Total debt (e)                                                        |   | 3,580 |  |   | 3,080 |  |   | 2,796 |  |   | 2,512 |  |   | 1,922 |  |
| Shareholders’ equity                                            |   | $ | 4,404 |  |   | $ | 4,094 |  |   | $ | 4,475 |  |   | $ | 4,372 |  |   | $ | 3,325 |  |
| Other Data:                                                           |
| Diluted weighted average shares outstanding                           |   | 290.6 |  |   | 314.8 |  |   | 327.1 |  |   | 330.5 |  |   | 344.4 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
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| (a) | 2013 diluted net earnings per share include after-tax special charges of $242 million related to the Company's realignment of its product divisions into two new operating divisions: the Cardiovascular and Ablation Technologies Division (CATD) (combining the legacy Cardiovascular and Atrial Fibrillation divisions) and the Implantable Electronic Systems Division (IESD) (combining the legacy Cardiac Rhythm Management and Neuromodulation divisions), including the centralization of certain support functions as well as ongoing restructuring actions in the Company's legacy cardiac rhythm management business and sales and selling support organizations ($176 million), intangible asset impairment charges ($27 million), IESD litigation and field action costs ($25 million) and a license dispute settlement charge ($14 million). The Company also recognized other after-tax charges of $150 million related to debt retirement costs primarily associated with make-whole redemption payments and the write-off of unamortized debt issuance costs ($101 million) and acquisition-related charges ($49 million). The Company also recognized an income tax benefit related to the 2012 tax year extension of the federal research and development tax credit in the first quarter of 2013 ($21 million). See Notes to the Consolidated Financial Statements in the Financial Report for further detail. The impact of these items on 2013 net earnings was $371 million, or $1.27 per diluted share. Excluding these items, 2013 adjusted net earnings (non-GAAP) was $1,094 million, or $3.76 per diluted share. |

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| (b) | 2012 diluted net earnings per share include after-tax special charges of $275 million related to the Company's realignment of its product divisions into two new operating divisions, as discussed previously ($122 million), ongoing restructuring actions in the Company's legacy cardiac rhythm management business and sales and selling support organizations ($75 million), IESD litigation and field action costs ($27 million), a license dispute settlement charge ($25 million) and intangible asset impairment charges and inventory write-offs ($26 million). Additionally, the Company recognized $46 million of additional income tax expense related to a settlement reserve for certain prior year tax positions. See Notes to the Consolidated Financial Statements in the Financial Report for further detail. The impact of these items on 2012 net earnings was $321 million, or $1.02 per diluted share. The Company's 2012 adjusted net earnings (non-GAAP) of $1,095 million, or $3.48 per diluted share, excludes the impact of these items and includes the $22 million income tax benefit, or $0.07 per diluted share, for the 2012 tax year benefit associated with the federal research and development tax credit. |

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| (c) | Beginning in fiscal year 2011, the Company began declaring and paying cash dividends. The Company did not declare or pay any cash dividends during 2009 or 2010. |

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| (d) | Total current assets less total current liabilities. Working capital fluctuations can be significant based on the maturity dates of the Company’s debt obligations. The Company's current debt obligations included in current liabilities were $62 million (2013), $530 million (2012), $83 million (2011), $80 million (2010) and $335 million (2009). |

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| (e) | Total debt consists of current debt obligations and long-term debt. |

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|                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                              | First |   | Second |   | Third |   | Fourth |   | Total |
|                                              | Quarter |   | Quarter |   | Quarter |   | Quarter |   | Year |
| 2013 Net sales                                    | $ | 1,338 |  |   | $ | 1,403 |  |   | $ | 1,338 |  |   | $ | 1,422 |  |   | $ | 5,501 |  |
| 2012 Net sales                                    | $ | 1,395 |  |   | $ | 1,410 |  |   | $ | 1,326 |  |   | $ | 1,372 |  |   | $ | 5,503 |  |
| 2013 Reported net sales growth                    | (4 | )% |   | — |  % |   | 1 |  % |   | 4 |  % |   | — |  % |
|                                              |   |   |   |   |   |   |   |   |   |
| 2013 Currency impact on net sales                 | $ | (17 | ) |   | $ | (31 | ) |   | $ | (26 | ) |   | $ | (27 | ) |   | $ | (101 | ) |
| 2013 Currency impact on net sales growth          | (1 | )% |   | (2 | )% |   | (2 | )% |   | (2 | )% |   | (2 | )% |
|                                              |   |   |   |   |   |   |   |   |   |
| 2013 Constant currency impact on net sales growth | (3 | )% |   | 2 |  % |   | 3 |  % |   | 6 |  % |   | 2 |  % |

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|         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|    |   | Fiscal Year |
|    |   | 2013 |   | 2012 |
| Quarter |   | High |   | Low |   | High |   | Low |
| First   |   | $ | 43.23 |  |   | $ | 35.32 |  |   | $ | 44.80 |  |   | $ | 34.23 |  |
| Second  |   | $ | 47.45 |  |   | $ | 39.79 |  |   | $ | 44.10 |  |   | $ | 34.82 |  |
| Third   |   | $ | 54.36 |  |   | $ | 45.38 |  |   | $ | 43.31 |  |   | $ | 35.57 |  |
| Fourth  |   | $ | 63.15 |  |   | $ | 51.79 |  |   | $ | 43.76 |  |   | $ | 30.25 |  |