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Segment and Geographic Information
 12 Months Ended
Apr. 26, 2013
Segment Reporting [Abstract]  
Segment and Geographic Information
Segment and Geographic Information
The Company's operations are comprised of two reportable segments. 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.
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:
 
Fiscal Year
(in millions)
2013
 
2012
 
2011
Cardiac and Vascular Group
$
8,695

 
$
8,482

 
$
8,119

Restorative Therapies Group
7,895

 
7,702

 
7,389

Total Net Sales
$
16,590

 
$
16,184

 
$
15,508


 
Fiscal Year
(in millions)
2013
 
2012
 
2011
Cardiac and Vascular Group
$
2,935

 
$
2,772

 
$
2,826

Restorative Therapies Group
2,210

 
2,103

 
2,085

Total Reportable Segments’ Earnings Before Income Taxes
5,145

 
4,875

 
4,911

Restructuring charges, net(a)
(182
)
 
(87
)
 
(270
)
Certain litigation charges, net
(245
)
 
(90
)
 
(245
)
Acquisition-related items
49

 
(12
)
 
(14
)
Interest expense, net
(151
)
 
(149
)
 
(278
)
Corporate
(365
)
 
(392
)
 
(440
)
Total Earnings From Continuing Operations Before Income Taxes
$
4,251

 
$
4,145

 
$
3,664


(a)
    For fiscal years 2013 and 2011, restructuring charges, net within this table include the impact of amounts recorded within cost of products sold in the consolidated statements of earnings related to the fiscal year 2013 initiative and fiscal year 2011 initiative, respectively.
The following table presents the Company’s net assets by reportable segment:
(in millions)
April 26,
2013
 
April 27,
2012
Cardiac and Vascular Group
$
6,941

 
$
7,004

Restorative Therapies Group
11,915

 
11,313

Total Net Assets of Reportable Segments
18,856

 
18,317

Short-term borrowings
(910
)
 
(3,274
)
Long-term debt
(9,741
)
 
(7,359
)
Corporate
10,466

 
9,429

Total Net Assets of Continuing Operations
$
18,671

 
$
17,113


Geographic Information
Net sales to external customers and property, plant, and equipment, net by geography are as follows:
(in millions)
United States
 
Europe and
Canada
 
Asia Pacific
 
Other
Foreign
 
Consolidated
Fiscal Year 2013
 

 
 

 
 

 
 

 
 

Net sales to external customers
$
9,059

 
$
4,199

 
$
2,604

 
$
728

 
$
16,590

Property, plant, and equipment, net
$
1,849

 
$
391

 
$
206

 
$
44

 
$
2,490

Fiscal Year 2012
 

 
 

 
 

 
 

 
 

Net sales to external customers
$
8,828

 
$
4,313

 
$
2,399

 
$
644

 
$
16,184

Property, plant, and equipment, net
$
1,894

 
$
389

 
$
154

 
$
36

 
$
2,473

Fiscal Year 2011
 

 
 

 
 

 
 

 
 

Net sales to external customers
$
8,872

 
$
3,996

 
$
2,084

 
$
556

 
$
15,508

Property, plant, and equipment, net
$
1,920

 
$
409

 
$
134

 
$
25

 
$
2,488

No single customer represented over 10 percent of the Company’s consolidated net sales in fiscal years 2013, 2012, or 2011.