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Acquisitions and Dispositions (Tables)
12 Months Ended
Apr. 28, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed
The acquisition date fair values of the assets acquired and liabilities assumed were as follows:
(in millions)Intersect ENTAffera
Cash and cash equivalents$39 $66 
Inventory32 — 
Goodwill615 660 
Other intangible assets683 300 
Other assets40 
Total assets acquired1,408 1,027 
 
Current liabilities63 
Deferred tax liabilities51 53 
Other liabilities18 
Total liabilities assumed131 56 
Net assets acquired$1,277 $970 
Schedule of 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:
 Fiscal Year
(in millions)20232022
Beginning Balance$119 $270 
Purchase price contingent consideration274 31 
Purchase price allocation adjustments— 
Payments(154)(86)
Change in fair value(24)(103)
Divestiture-related and other(8)— 
Ending Balance$206 $119 
Schedule of Significant Unobservable Inputs
The recurring Level 3 fair value measurements of contingent consideration for which a liability is recorded include the following significant unobservable inputs:
(in millions)Fair Value at April 28, 2023Unobservable InputRange
Weighted Average (1)
Revenue and other performance-based payments$80 Discount rate
11.2% - 27.2%
17.5%
Projected fiscal year of payment2024 - 20272025
Product development and other milestone-based payments$126 Discount rate
3.9% - 5.5%
4.1%
Projected fiscal year of payment2024 - 20272026
(1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability. For projected fiscal year of payment, the amount represents the median of the inputs and is not a weighted average.