Acquisitions (Tables)

3 Months Ended

Jul. 27, 2018

Business Combinations [Abstract]

Fair Value of Assets Acquired and Liabilities Assumed

The acquisition date fair values of the assets and liabilities acquired were as follows:

(in millions)
Current assets	$	5
Other intangible assets	101
Goodwill	62
Other assets	3
Total assets acquired	171
Current liabilities	16
Other liabilities	5
Total liabilities assumed	21
Net assets acquired	$	150

Reconciliation of Beginning and Ending Balances of Contingent Consideration Associated with Acquisitions

The following table provides a reconciliation of the beginning and ending balances of contingent consideration:

	Three months ended
(in millions)	July 27, 2018			July 28, 2017
Beginning Balance	$	173		$	246
Purchase price contingent consideration	35			—
Payments	(6		)	(3		)
Change in fair value	6			(1		)
Ending Balance	$	208		$	242

Fair Value Measurements, Contingent Consideration, Significant Unobservable Inputs

The recurring Level 3 fair value measurements of contingent consideration include the following significant unobservable inputs:

	Fair Value at
(in millions)	July 27, 2018	Valuation Technique	Unobservable Input	Range
			Discount rate	11.5% - 32.5%
Revenue and other performance-based payments	$121	Discounted cash flow	Probability of payment	100%
			Projected fiscal year of payment	2019 - 2025
			Discount rate	5.5%
Product development and other milestone-based payments	$87	Discounted cash flow	Probability of payment	75% - 100%
			Projected fiscal year of payment	2019 - 2027

The following table presents the unobservable inputs utilized in the fair value measurement of the auction rate securities classified as Level 3 at July 27, 2018:

	Valuation Technique	Unobservable Input	Range (Weighted Average)
Auction rate securities	Discounted cash flow	Years to principal recovery	2 yrs. - 12 yrs. (3 yrs.)
		Illiquidity premium	6%