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Income Taxes
3 Months Ended
Jul. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The Company’s effective tax rates for the three months ended July 31, 2015 and July 25, 2014 were 12.8 percent and 19.6 percent, respectively. The change in the Company’s effective tax rate for the three months ended July 31, 2015 was primarily due to the impact of restructuring charges, net, acquisition-related items, and the impact from the acquisition of Covidien.
During the three months ended July 31, 2015, the Company's gross unrecognized tax benefits decreased from $2.860 billion to $2.561 billion. In addition, the Company has accrued gross interest and penalties of $580 million as of July 31, 2015. If all of the Company’s unrecognized tax benefits were recognized, approximately $1.982 billion would impact the Company’s effective tax rate. The Company has recorded $5 million of gross unrecognized tax benefits as a current liability and $2.556 billion as a long-term liability.
The Company will continue to recognize interest and penalties related to income tax matters within provision for income taxes in the condensed consolidated statements of income and record the liability within accrued income taxes or long-term accrued income taxes in the condensed consolidated balance sheets, as appropriate.
See Note 16 to the condensed consolidated financial statements for additional information regarding the status of current tax audits and proceedings.