Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 03, 2015

Summary Of Components Of Available-For-Sale Securities

The following table summarizes the components of the balance of the Company's available-for-sale securities as of January 3, 2015 and December 28, 2013 (in millions):



	January 3, 2015		December 28, 2013
Adjusted cost	$	6	$	7
Gross unrealized gains	24		28
Fair value	$	30	$	35

Schedule Of Inventories

Inventories are stated at the lower of cost or market with cost determined using the first-in, first-out method. Inventories consisted of the following (in millions):



	January 3, 2015		December 28, 2013
Finished goods	$	543	$	494
Work in process	77		52
Raw materials	164		162
Inventories	$	784	$	708

Schedule of Product Warranty Liability

Changes in the Company's product warranty liability during fiscal years 2014 and 2013 were as follows (in millions):



	2014			2013
Balance at beginning of period	$	37		$	38
Warranty expense recognized	3			3
Warranty credits issued	(5		)	(4		)
Balance at end of period	$	35		$	37

Schedule Of Computation Of Basic And Diluted Net Earnings Per Share

The following table sets forth the computation of basic and diluted net earnings per share attributable to St. Jude Medical, Inc. for fiscal years 2014, 2013 and 2012 (in millions, except per share amounts):



	2014		2013		2012
Numerator:
Net earnings attributable to St. Jude Medical, Inc.	$	1,002	$	723	$	752
Denominator:
Basic weighted average shares outstanding	285.0		287.0		313.3
Dilution associated with stock-based compensation plans	4.7		3.6		1.5
Diluted weighted average shares outstanding	289.7		290.6		314.8
Basic net earnings per share attributable to St. Jude Medical, Inc.	$	3.52	$	2.52	$	2.40
Diluted net earnings per share attributable to St. Jude Medical, Inc.	$	3.46	$	2.49	$	2.39