Income Taxes (Tables)

12 Months Ended

Apr. 29, 2011

Income Taxes

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	Fiscal Year
(in millions)	2011		2010		2009
U.S.	$	1,447	$	1,557	$	984
International		2,276		2,412		1,456
Earnings before income taxes	$	3,723	$	3,969	$	2,440

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes consists of the following:
	Fiscal Year
(in millions)	2011		2010		2009
Current tax expense:
U.S.	$	379	$	527	$	264
International		189		239		291
Total current tax expense		568		766		555
Deferred tax expense (benefit):
U.S.		49		106		(51)
International		10		(2)		(134)
Net deferred tax expense (benefit)		59		104		(185)
Total provision for income taxes	$	627	$	870	$	370

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

(in millions)	April 29, 2011		April 30, 2010
Deferred tax assets:
Inventory (intercompany profit in inventory and excess of tax over book valuation)	$	366	$	426
Stock-based compensation		233		214
Accrued liabilities		169		130
Net operating loss and credit carryforwards		149		119
Other		135		118
Federal and state benefit on uncertain tax positions		133		133
Pension and post-retirement benefits		124		150
Unrealized loss on equity investments		17		16
Warranty reserves		12		11
Allowance for doubtful accounts		11		14
Convertible debt interest		5		14
Unrealized currency loss		-		28
Total deferred tax assets (net of valuation allowance)		1,354		1,373
Deferred tax liabilities:
Intangible assets		(691)		(652)
Realized loss on derivative financial instruments		(112)		(113)
Accumulated depreciation		(89)		(43)
Other		(41)		(48)
Unrealized currency gain		(26)		-
Unrealized gain on available-for-sale securities and derivative financial instruments		(10)		(62)
Total deferred tax liabilities		(969)		(918)
Deferred tax assets, net	$	385	$	455

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The Company’s effective income tax rate varied from the U.S. Federal statutory tax rate as follows:
	Fiscal Year
	2011			2010			2009
U.S. Federal statutory tax rate		35.0	%		35.0	%		35.0	%
Increase (decrease) in tax rate resulting from:
U.S. state taxes, net of Federal tax benefit		0.3			0.5			0.6
Research and development credit		(1.2)			(0.6)			(1.6)
Domestic production activities		(0.5)			(0.3)			(0.5)
International		(19.1)			(16.7)			(20.7)
Puerto Rico Excise Tax		(0.6)			-			-
Impact of special charges, restructuring charges, certain litigation charges, net, and acquisition-related items		2.3			2.0			9.5
Reversal of excess tax accruals		(1.7)			-			(5.4)
Retiree medical subsidy law change		-			0.4			-
Other, net		2.3			1.6			(1.7)
Effective tax rate		16.8	%		21.9	%		15.2	%

Reconciliation of Unrecognized Tax Benefits [Table Text Block]

	Fiscal Years
(in millions)	2011		2010		2009
Gross unrecognized tax benefits at beginning of fiscal year	$	538	$	431	$	455
Gross increases:
Prior year tax positions		151		51		3
Current year tax positions		172		74		106
Gross decreases:
Prior year tax positions		(57)		(14)		(116)
Settlements		(32)		(4)		(15)
Statute of limitation lapses		(3)		-		(2)
Gross unrecognized tax benefits at end of fiscal year	$	769	$	538	$	431