Derivatives and Foreign Exchange Risk Management (Tables)

9 Months Ended

Jan. 25, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss) in Statement of Financial Performance

The amount of (losses)/gains and location of the (losses)/gains in the condensed consolidated statements of earnings related to derivative instruments, not designated as hedging instruments, for the three and nine months ended January 25, 2013 and January 27, 2012 are as follows:

(in millions)		Three months ended
Derivatives Not Designated as Hedging Instruments	Location	January 25, 2013			January 27, 2012
Foreign currency exchange rate contracts	Other expense, net	$	(4	)	$	46

(in millions)		Nine months ended
Derivatives Not Designated as Hedging Instruments	Location	January 25, 2013			January 27, 2012
Foreign currency exchange rate contracts	Other expense, net	$	(24	)	$	66

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Other Comprehensive Income, Location

The amount of (losses)/gains and location of the (losses)/gains in the condensed consolidated statements of earnings and other comprehensive income (OCI) related to foreign currency exchange rate contract derivative instruments designated as cash flow hedges for the three and nine months ended January 25, 2013 and January 27, 2012 are as follows:

Three months ended January 25, 2013
	Gross (Losses)/Gains Recognized in OCI on Effective Portion of Derivative			Effective Portion of (Losses)/Gains on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	(20	)	Other expense, net	$	22
				Cost of products sold	4
Total	$	(20	)		$	26
Three months ended January 27, 2012
	Gross (Losses)/Gains Recognized in OCI on Effective Portion of Derivative			Effective Portion of (Losses)/Gains on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	201		Other expense, net	$	(24	)
				Cost of products sold	(1		)
Total	$	201			$	(25	)
Nine months ended January 25, 2013
	Gross (Losses)/Gains Recognized in OCI on Effective Portion of Derivative			Effective Portion of (Losses)/Gains on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	(21	)	Other expense, net	$	64
				Cost of products sold	5
Total	$	(21	)		$	69
Nine months ended January 27, 2012
	Gross (Losses)/Gains Recognized in OCI on Effective Portion of Derivative			Effective Portion of (Losses)/Gains on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	332		Other expense, net	$	(133	)
				Cost of products sold	14
Total	$	332			$	(119	)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

January 25, 2013
	Asset Derivatives			Liability Derivatives
(in millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign currency exchange rate contracts	Prepaid expenses and other current assets	$	75	Other accrued expenses	$	58
Interest rate contracts	Other assets	168		Other long-term liabilities	74
Foreign currency exchange rate contracts	Other assets	40		Other long-term liabilities	30
Total derivatives designated as hedging instruments		$	283		$	162
Derivatives not designated as hedging instruments
Foreign currency exchange rate contracts	Prepaid expenses and other current assets	$	1	Other accrued expenses	$	—
Total derivatives not designated as hedging instruments		$	1		$	—
Total derivatives		$	284		$	162

April 27, 2012
	Asset Derivatives			Liability Derivatives
(in millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign currency exchange rate contracts	Prepaid expenses and other current assets	$	74	Other accrued expenses	$	33
Interest rate contracts	Other assets	167		Other long-term liabilities	45
Foreign currency exchange rate contracts	Other assets	13		Other long-term liabilities	2
Total derivatives designated as hedging instruments		$	254		$	80
Derivatives not designated as hedging instruments
Foreign currency exchange rate contracts	Prepaid expenses and other current assets	$	—	Other accrued expenses	$	2
Total derivatives not designated as hedging instruments		$	—		$	2
Total derivatives		$	254		$	82