XML 23 R26.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Segment and Geographic Information
3 Months Ended
Jul. 29, 2011
Segment and Geographic Information [Abstract]  
Segment and Geographic Information [Text Block]

Note 20 – Segment and Geographic Information

 

Segment information

 

The Company's Cardiac and Vascular Group consists of three businesses: Cardiac Rhythm Disease Management (CRDM), CardioVascular, and Physio-Control. The primary products sold by this operating segment include those for cardiac rhythm disorders, cardiovascular disease, and external defibrillation. The Company's Restorative Therapies Group consists of four businesses: Spinal, Neuromodulation, Diabetes, 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, diabetes, and ear, nose, and throat conditions.

 

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, certain litigation charges, net, acquisition-related items, and certain tax adjustments. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies in the Company's Annual Report on Form 10-K for the year ended April 29, 2011.

 

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
  July 29,  July 30,
(in millions)2011 2010
Cardiac and Vascular Group $ 2,206 $2,027
Restorative Therapies Group   1,843  1,746
Total Net Sales $ 4,049 $ 3,773

 Three months ended
 July 29,  July 30,
(in millions)2011 2010
Cardiac and Vascular Group$ 711 $717
Restorative Therapies Group  491  489
Total Reportable Segments' Earnings Before Income Taxes  1,202   1,206
Acquisition-related items  (13)   (15)
Interest expense, net  (32)   (74)
Corporate  (135)   (77)
Total Earnings Before Income Taxes$ 1,022 $ 1,040

The following table presents the Company's net assets by reportable segment:

  July 29,  April 29,
(in millions)2011 2011
Cardiac and Vascular Group $ 7,005 $6,774
Restorative Therapies Group   10,656  10,539
Total Net Assets of Reportable Segments   17,661   17,313
Short-term borrowings   (1,857)   (1,723)
Long-term debt   (8,195)   (8,112)
Corporate   8,731   8,490
Total Net Assets $ 16,340 $ 15,968

Geographic information      
       
Net sales to external customers by geography are as follows:      
  Three months ended
  July 29,  July 30,
(in millions)2011 2010
United States $ 2,206 $2,229
Europe   1,087   925
Asia Pacific  591  484
Other Foreign  165  135
Total Net Sales $ 4,049 $ 3,773