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Segment and Geographic Information
 9 Months Ended
Jan. 25, 2013
Segment Reporting [Abstract]  
Segment and Geographic Information
Segment and Geographic Information
Segment information
The Company’s Cardiac and Vascular Group consists of four businesses: Cardiac Rhythm Disease Management (CRDM), Coronary, Structural Heart, and Endovascular. The primary products sold by this operating segment include those for cardiac rhythm disorders and cardiovascular disease. The Company’s Restorative Therapies Group consists of four businesses: Spine, Neuromodulation, Diabetes, and Surgical Technologies. The primary products sold by this operating segment include those for spinal conditions and musculoskeletal trauma, neurological disorders, urological and digestive disorders, diabetes, and ear, nose, and throat conditions.
The Company’s management evaluates performance and allocates resources based on profit and loss from operations before income taxes and interest expense, net, not including restructuring charges, net, certain litigation charges, net, and acquisition-related items. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies in Note 1 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended April 27, 2012.
Net sales of the Company’s reportable segments include end-customer revenues from the sale of products they each develop and manufacture or distribute. Net sales and earnings before income taxes by reportable segment are as follows:
 
Three months ended
 
Nine months ended
(in millions)
January 25,
2013
 
January 27,
2012
 
January 25,
2013
 
January 27,
2012
Cardiac and Vascular Group
$
2,100

 
$
2,029

 
$
6,352

 
$
6,230

Restorative Therapies Group
1,927

 
1,889

 
5,778

 
5,657

Total Net Sales
$
4,027

 
$
3,918

 
$
12,130

 
$
11,887


 
Three months ended
 
Nine months ended
(in millions)
January 25,
2013
 
January 27,
2012
 
January 25,
2013
 
January 27,
2012
Cardiac and Vascular Group
$
687

 
$
657

 
$
2,093

 
$
2,008

Restorative Therapies Group
548

 
518

 
1,590

 
1,489

Total Reportable Segments’ Earnings Before Income Taxes
1,235

 
1,175

 
3,683

 
3,497

Certain litigation charges, net
—

 
—

 
(245
)
 
—

Acquisition-related items
55

 
(15
)
 
44

 
1

Interest expense, net
(46
)
 
(33
)
 
(103
)
 
(103
)
Corporate
(89
)
 
(74
)
 
(282
)
 
(281
)
Earnings From Continuing Operations Before Income Taxes
$
1,155

 
$
1,053

 
$
3,097

 
$
3,114


The following table presents the Company’s net assets by reportable segment:
(in millions)
January 25,
2013
 
April 27,
2012
Cardiac and Vascular Group
$
6,908

 
$
7,004

Restorative Therapies Group
12,011

 
11,313

Total Net Assets of Reportable Segments
18,919

 
18,317

Short-term borrowings
(4,104
)
 
(3,274
)
Long-term debt
(7,314
)
 
(7,359
)
Corporate
10,335

 
9,429

Total Net Assets
$
17,836

 
$
17,113


Geographic information
Net sales to external customers by geography are as follows:
 
Three months ended
 
Nine months ended
(in millions)
January 25,
2013
 
January 27,
2012
 
January 25,
2013
 
January 27,
2012
United States
$
2,171

 
$
2,145

 
$
6,687

 
$
6,530

Europe and Canada
1,020

 
1,046

 
2,998

 
3,135

Asia Pacific
660

 
574

 
1,926

 
1,760

Other Foreign
176

 
153

 
519

 
462

Total Net Sales
$
4,027

 
$
3,918

 
$
12,130

 
$
11,887