Interest Expense, Net

9 Months Ended

Jan. 27, 2012

Interest Expense Net [Abstract]

Interest Expense, Net

Note 14 – Interest Expense, Net

Interest income and interest expense for the three and nine months endedJanuary 27, 2012 and January 28, 2011 are as follows:

	Three months ended				Nine months ended
(in millions)	January 27, 2012		January 28, 2011		January 27, 2012		January 28, 2011
Interest income	$	(56)	$	(43)	$	(148)	$	(122)
Interest expense		89		113		251		332
Interest expense, net	$	33	$	70	$	103	$	210

Interest income includes interest earned on the Company's cash and cash equivalents, short- and long-term investments, the net realized and unrealized gain or loss on trading securities,changes in the fair value of interest rate derivative instruments, and the net realized gain or loss on the sale or impairment of available-for-sale debt securities. See Note 7 for further discussion of these items.

Interest expense includes the expense associated with the interest that the Company pays on its outstanding borrowings, including short- and long-term instruments,changes in the fair value of interest rate derivative instruments, and the amortization of debt issuance costs and debt discounts.