Interest Expense, Net

12 Months Ended

Apr. 25, 2014

Interest Expense Net [Abstract]

Interest Expense, Net

Interest Expense, Net

Interest income and interest expense for fiscal years 2014, 2013, and 2012 are as follows:

	Fiscal Year
(in millions)	2014			2013			2012
Interest income	$	(271	)	$	(237	)	$	(200	)
Interest expense	379			388			349
Interest expense, net	$	108		$	151		$	149

Interest income includes interest earned on the Company’s cash, cash equivalents and investments, the net realized and unrealized gain or loss on trading securities, ineffectiveness on interest rate derivative instruments, and the net realized gain or loss on the sale or impairment of available-for-sale debt securities. See Note 5 for further discussion of these items.

Interest expense includes the expense associated with the interest on the Company’s outstanding borrowings, including short- and long-term instruments, ineffectiveness on interest rate derivative instruments, amortization of terminated interest rate swap agreements, and the amortization of debt issuance costs and debt discounts.