Segment and Geographic Information

3 Months Ended

Jul. 25, 2014

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic Information

Segment information

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 special charges, 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 25, 2014.

The Company operates under three reportable segments and three operating segments. The Company's Cardiac and Vascular Group consists of three businesses: Cardiac Rhythm & Heart Failure, Coronary & Structural Heart, and Aortic & Peripheral. 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 three businesses: Spine, Neuromodulation, 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, and ear, nose, and throat conditions. The primary products sold by the Company's Diabetes Group include those for diabetes management.

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
(in millions)	July 25, 2014		July 26, 2013
Cardiac and Vascular Group	$	2,254	$	2,160
Restorative Therapies Group	1,603		1,554
Diabetes Group	416		369
Total Net Sales	$	4,273	$	4,083

	Three months ended
(in millions)	July 25, 2014			July 26, 2013
Cardiac and Vascular Group	$	712		$	756
Restorative Therapies Group	410			421
Diabetes Group	120			75
Total Reportable Segments’ Earnings Before Income Taxes	1,242			1,252
Special charges	—			(40		)
Restructuring charges, net	(30		)	(18		)
Acquisition-related items	(41		)	96
Interest expense, net	(5		)	(40		)
Corporate	(83		)	(97		)
Earnings Before Income Taxes	$	1,083		$	1,153

Geographic information

Net sales to external customers by geography are as follows:

	Three months ended
(in millions)	July 25, 2014		July 26, 2013
United States	$	2,333	$	2,206
Europe and Canada	1,081		1,046
Asia-Pacific	649		656
Other Foreign	210		175
Total Net Sales	$	4,273	$	4,083

Certain prior period net sales to external customers by geography have been corrected to conform to the current period classification. These revisions are considered immaterial.