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Income Taxes
3 Months Ended
Jul. 29, 2011
Income Tax Disclsosure [Abstract]  
Income Taxes [Text Block]

Note 14 – Income Taxes

 

During the three months ended July 29, 2011, the Company's gross unrecognized tax benefits increased from $769 million to $778 million. In addition, the Company has accrued interest and penalties of $105 million as of July 29, 2011. If all of the Company's unrecognized tax benefits were recognized, approximately $694 million would impact the Company's effective tax rate. The Company records the gross unrecognized tax benefit as a long-term liability as it does not expect significant payments to occur or the total amount of unrecognized tax benefits to change significantly over the next 12 months.

 

The Company will continue to recognize interest and penalties related to income tax matters in the provision for income taxes in the condensed consolidated statements of earnings and record the liability in the current or long-term accrued income taxes in the condensed consolidated balance sheets, as appropriate.

 

As of July 29, 2011, there were no changes to significant unresolved matters with the U.S. Internal Revenue Service (IRS) or foreign tax authorities from what was disclosed in the Company's Annual Report on Form 10-K for the year ended April 29, 2011.