Fair Value Measurements (Tables)

3 Months Ended

Jul. 25, 2014

Fair Value Disclosures [Abstract]

Information by Level for Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis:

	Fair Value as of July 25, 2014		Fair Value Measurements Using Inputs Considered as
(in millions)			Level 1		Level 2		Level 3
Assets:
Corporate debt securities	$	5,484	$	—	$	5,475	$	9
Auction rate securities	99		—		—		99
Mortgage-backed securities	1,254		—		1,254		—
U.S. government and agency securities	2,733		1,135		1,598		—
Foreign government and agency securities	78		—		78		—
Certificates of deposit	71		—		71		—
Other asset-backed securities	498		—		498		—
Debt funds	2,486		—		2,486		—
Marketable equity securities	49		49		—		—
Exchange-traded funds	69		69		—		—
Derivative assets	176		96		80		—
Total assets	$	12,997	$	1,349	$	11,540	$	108
Liabilities:
Derivative liabilities	$	68	$	68	$	—	$	—
Contingent consideration associated with acquisitions subsequent to April 24, 2009	87		—		—		87
Total liabilities	$	155	$	68	$	—	$	87

	Fair Value as of April 25, 2014		Fair Value Measurements Using Inputs Considered as
(in millions)			Level 1		Level 2		Level 3
Assets:
Corporate debt securities	$	5,542	$	—	$	5,533	$	9
Auction rate securities	97		—		—		97
Mortgage-backed securities	1,336		—		1,336		—
U.S. government and agency securities	3,116		1,251		1,865		—
Foreign government and agency securities	67		—		67		—
Certificates of deposit	54		—		54		—
Other asset-backed securities	542		—		542		—
Debt funds	2,123		—		2,123		—
Marketable equity securities	49		49		—		—
Exchange-traded funds	67		67		—		—
Derivative assets	175		89		86		—
Total assets	$	13,168	$	1,456	$	11,606	$	106
Liabilities:
Derivative liabilities	$	127	$	116	$	11	$	—
Contingent consideration associated with acquisitions subsequent to April 24, 2009	68		—		—		68
Total liabilities	$	195	$	116	$	11	$	68

Fair Value Inputs, Assets, Quantitative Information

The following table represents the range of the unobservable inputs utilized in the fair value measurement of the auction rate securities classified as Level 3 as of July 25, 2014:

	Valuation Technique	Unobservable Input	Range (Weighted Average)
Auction rate securities	Discounted cash flow	Years to principal recovery	2 yrs. - 12 yrs. (3 yrs.)
		Illiquidity premium	6%

Reconciliation of Beginning and Ending Balances of Items Measured at Fair Value on a Recurring Basis that Used Significant Unobservable Inputs (Level 3)

The following tables provide a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3) for the three months ended July 25, 2014 and July 26, 2013:

Three months ended July 25, 2014
(in millions)	Total Level 3 Investments		Corporate debt securities		Auction rate securities		Mortgage- backed securities
Balance as of April 25, 2014	$	106	$	9	$	97	$	—
Total unrealized gains included in other comprehensive income	2		—		2		—
Balance as of July 25, 2014	$	108	$	9	$	99	$	—
Three months ended July 26, 2013
(in millions)	Total Level 3 Investments		Corporate debt securities		Auction rate securities		Mortgage- backed securities
Balance as of April 26, 2013	$	127	$	10	$	103	$	14
Total unrealized gains included in other comprehensive income	5		—		4		1
Balance as of July 26, 2013	$	132	$	10	$	107	$	15