Acquisitions and Acquisition-Related Items (Tables)

9 Months Ended

Jan. 24, 2014

Business Acquisition [Line Items]

Schedule of Business Acquisitions, by Acquisition

The Company accounted for the acquisition of Cardiocom as a business combination using the acquisition method of accounting. The assets acquired and liabilities assumed were recorded at their respective fair values as of the acquisition date. The fair values of the assets acquired and liabilities assumed are as follows:

(in millions)
Current assets	$	14
Property, plant, and equipment	7
Intangible assets	61
Goodwill	123
Total assets acquired	205
Current liabilities	12
Total liabilities assumed	12
Net assets acquired	$	193

The Company accounted for the acquisition of TYRX as a business combination using the acquisition method of accounting. The assets acquired and liabilities assumed were recorded at their respective fair values as of the acquisition date. The fair values of the assets acquired and liabilities assumed are as follows:

(in millions)
Current assets	$	6
Property, plant, and equipment	1
Intangible assets	94
Goodwill	141
Total assets acquired	242
Current liabilities	4
Long-term deferred tax liabilities, net	16
Total liabilities assumed	20
Net assets acquired	$	222

Fair Value Inputs, Liabilities, Quantitative Information

The recurring Level 3 fair value measurements of contingent consideration include the following significant unobservable inputs:

($ in millions)	Fair Value at January 24, 2014	Valuation Technique	Unobservable Input	Range
			Discount rate	13.5% - 24%
Revenue-based payments	$37	Discounted cash flow	Probability of payment	100%
			Projected fiscal year of payment	2014 - 2019
			Discount rate	5.5% - 5.9%
Product development-based payments	$29	Discounted cash flow	Probability of payment	75% - 100%
			Projected fiscal year of payment	2017 - 2018

Reconciliation of Beginning and Ending Balances of Contingent Milestone Payments Associated with Acquisitions

The following table provides a reconciliation of the beginning and ending balances of contingent consideration associated with acquisitions subsequent to April 24, 2009:

	Three months ended						Nine months ended
(in millions)	January 24, 2014			January 25, 2013			January 24, 2014			January 25, 2013
Beginning Balance	$	45		$	213		$	142		$	231
Purchase price contingent consideration	60			—			60			5
Contingent consideration payments	—			(2		)	(1		)	(28		)
Change in fair value of contingent consideration	(39		)	(70		)	(135		)	(67		)
Ending Balance	$	66		$	141		$	66		$	141