Restructuring Charges

3 Months Ended

Jul. 27, 2012

Restructuring Charges [Abstract]

Restructuring Charges Disclosure

Note 6 – Restructuring Charges

During the three months endedJuly 27, 2012 and July 29, 2011, the Company did not incur any restructuring charges.

Fiscal Year 2012 Initiative

In the fourth quarter of fiscal year 2012, the Company recorded a $118 million restructuring charge, which consisted of employee termination costs of $66 million, asset write-downs of $9 million, contract termination costs of $30 million, and other related costs of $13 million. The fiscal year 2012 initiative was designed to reduce general, administrative, and indirect distribution costs in certain organizations within the Company while prioritizing investment in research and development, and sales and marketing in those organizations within the Company where faster growth is anticipated, such as emerging markets and new therapies.

In connection with the fiscal year 2012 initiative, as of the end of the fourth quarter of fiscal year 2012, the Company had identified approximately 1,000 positions for elimination to be achieved through involuntary and voluntary separation. Of the 1,000 positions identified, approximately 500 positions have been eliminated as of July 27, 2012. The fiscal year 2012 initiative is scheduled to be substantially complete by the end of the fourth quarter of fiscal year 2013.

A summary of the activity related to the fiscal year 2012 initiative is presented below:

	Fiscal Year 2012 Initiative
(in millions)	Employee Termination Costs		Asset Write-downs			Other Costs	Total
Balance as of April 29, 2011	$	-	$	-	$	-	$	-
Restructuring charges		66		9		43		118
Payments/write-downs		(2)		(9)		(16)		(27)
Balance as of April 27, 2012	$	64	$	-	$	27	$	91
Payments/write-downs		(26)		-		(17)		(43)
Balance as of July 27, 2012	$	38	$	-	$	10	$	48