Interest Expense, Net

3 Months Ended

Jul. 27, 2012

Interest Expense Net [Abstract]

Interest Expense, Net

Note 14 – Interest Expense, Net

Interest income and interest expense for the three months endedJuly 27, 2012 and July 29, 2011 are as follows:

	Three months ended
(in millions)	July 27, 2012		July 29, 2011
Interest income	$	(56)	$	(45)
Interest expense		89		77
Interest expense, net	$	33	$	32

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, ineffectiveness on 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 on the Company's outstanding borrowings, including short- and long-term instruments,ineffectiveness on interest rate derivative instruments, and the amortization of debt issuance costs and debt discounts.