Fair Value Measurements (Tables)

6 Months Ended

Oct. 28, 2011

Information by level for assets and liabilities that are measured at fair value on a recurring basis

	Fair Value		Fair Value Measurements
	as of		Using Inputs Considered as
(in millions)	October 28, 2011		Level 1		Level 2		Level 3
Assets:
Corporate debt securities	$	2,523	$	-	$	2,513	$	10
Auction rate securities		127		-		-		127
Mortgage-backed securities		931		-		900		31
U.S. government and agency securities		2,885		1,556		1,329		-
Foreign government and agency securities		91		-		91		-
Certificates of deposit		97		-		97		-
Other asset-backed securities		438		-		432		6
Marketable equity securities		164		164		-		-
Exchange-traded funds		44		44		-		-
Derivative assets		177		41		136		-
Total assets	$	7,477	$	1,805	$	5,498	$	174

Liabilities:
Derivative liabilities	$	190	$	180	$	10	$	-
Total liabilities	$	190	$	180	$	10	$	-

	Fair Value		Fair Value Measurements
	as of		Using Inputs Considered as
(in millions)	April 29, 2011		Level 1		Level 2		Level 3
Assets:
Corporate debt securities	$	1,961	$	-	$	1,944	$	17
Auction rate securities		133		-		-		133
Mortgage-backed securities		785		-		750		35
U.S. government and agency securities		2,756		1,453		1,303		-
Foreign government and agency securities		131		-		131		-
Certificates of deposit		119		-		119		-
Other asset-backed securities		349		-		343		6
Marketable equity securities		237		237		-		-
Exchange-traded funds		39		39		-		-
Derivative assets		130		21		109		-
Total assets	$	6,640	$	1,750	$	4,699	$	191

Liabilities:
Derivative liabilities	$	303	$	303	$	-	$	-
Total liabilities	$	303	$	303	$	-	$	-

Reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3)

Three months ended October 28, 2011
(in millions)	Total Level 3 Investments		Corporate debt securities		Auction rate securities		Mortgage-backed securities		Other asset-backed securities
Balance as of July 29, 2011	$	190	$	17	$	134	$	33	$	6
Total realized losses and other-than-temporary impairment losses included in earnings		(1)		(1)		-		-		-
Total unrealized gains/(losses) included in other comprehensive income		(7)		1		(7)		(1)		-
Settlements		(8)		(7)		-		(1)		-
Balance as of October 28, 2011	$	174	$	10	$	127	$	31	$	6

Three months ended October 29, 2010
(in millions)	Total Level 3 Investments		Corporate debt securities		Auction rate securities		Mortgage-backed securities		Other asset-backed securities
Balance as of July 30, 2010	$	198	$	16	$	138	$	37	$	7
Total realized losses and other-than-temporary impairment losses included in earnings		(2)		(1)		-		(1)		-
Total unrealized gains/(losses) included in other comprehensive income		9		2		5		2		-
Settlements		(3)		-		-		(2)		(1)
Balance as of October 29, 2010	$	202	$	17	$	143	$	36	$	6

Six months ended October 28, 2011
(in millions)	Total Level 3 Investments		Corporate debt securities		Auction rate securities		Mortgage-backed securities		Other asset-backed securities
Balance as of April 29, 2011	$	191	$	17	$	133	$	35	$	6
Total realized losses and other-than-temporary impairment losses included in earnings		(2)		(1)		-		-		(1)
Total unrealized gains/(losses) included in other comprehensive income		(5)		1		(6)		(1)		1
Settlements		(10)		(7)		-		(3)		-
Balance as of October 28, 2011	$	174	$	10	$	127	$	31	$	6

Six months ended October 29, 2010
(in millions)	Total Level 3 Investments		Corporate debt securities		Auction rate securities		Mortgage-backed securities		Other asset-backed securities
Balance as of April 30, 2010	$	213	$	16	$	142	$	39	$	16
Total realized losses and other-than-temporary impairment losses included in earnings		(4)		(2)		-		(2)		-
Total unrealized gains/(losses) included in other comprehensive income		7		4		1		2		-
Settlements		(14)		(1)		-		(3)		(10)
Balance as of October 29, 2010	$	202	$	17	$	143	$	36	$	6

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details