Goodwill and Other Intangible Assets, Net

9 Months Ended

Jan. 23, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill for the nine months ended January 23, 2015 are as follows:



(in millions)	Cardiac and Vascular Group			Restorative Therapies Group			Diabetes Group		Total
Balance as of April 25, 2014	$	2,881		$	6,368		$	1,344	$	10,593
Goodwill as a result of acquisitions	234			219			—		453
Other adjustments, net	—			(15		)	—		(15		)
Currency adjustment, net	(47		)	(34		)	—		(81		)
Balance as of January 23, 2015	$	3,068		$	6,538		$	1,344	$	10,950

During the nine months ended January 23, 2015, the Company recorded $15 million of other adjustments, net. The adjustments primarily relate to a divestiture in the Surgical Technologies division during the third quarter of fiscal year 2015.

Balances of other intangible assets, net, excluding goodwill as of January 23, 2015 and April 25, 2014 are as follows:



(in millions)	Purchased Technology and Patents			Trademarks and Tradenames			Acquired IPR&D		Other			Total
Other intangible assets as of January 23, 2015:
Original cost	$	3,947		$	426		$	164	$	293		$	4,830
Accumulated amortization	(2,086		)	(343		)	—		(62		)	(2,491		)
Carrying value	$	1,861		$	83		$	164	$	231		$	2,339
Other intangible assets as of April 25, 2014:
Original cost	$	3,857		$	408		$	119	$	200		$	4,584
Accumulated amortization	(1,878		)	(332		)	—		(88		)	(2,298		)
Carrying value	$	1,979		$	76		$	119	$	112		$	2,286

Amortization expense for the three and nine months ended January 23, 2015 was $89 million and $265 million, respectively and for the three and nine months ended January 24, 2014 was $89 million and $263 million, respectively.

Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets as of January 23, 2015, excluding any possible future amortization associated with acquired IPR&D, which has not met technological feasibility, is as follows:



(in millions) Fiscal Year	Estimated Amortization Expense
Remaining 2015	$	96
2016	347
2017	325
2018	309
2019	265
2020	217
Thereafter	616
Total estimated amortization expense	$	2,175

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details