XML 38 R29.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Financial Instruments (Tables) | 6 Months Ended
--- | ---
Oct. 30, 2015
Investments [Abstract] |
Investments by Category and Related Balance Sheet Presentation | The following table summarizes the Company's investments by significant investment categories and the related condensed consolidated balance sheets presentation at October 30, 2015:
| Valuation |  | Balance Sheet Classification
(in millions) | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Investments |  | Other Assets
Available-for-sale securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities | $ | 1,696 |  |  | $ | 7 |  |  | $ | (4 | ) |  | $ | 1,699 |  |  | $ | 1,699 |  |  | $ | — |
Marketable equity securities | 79 |  |  | 23 |  |  | (3 | ) |  | 99 |  |  | — |  |  | 99 |
Total Level 1 | 1,775 |  |  | 30 |  |  | (7 | ) |  | 1,798 |  |  | 1,699 |  |  | 99 |
Level 2: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 6,618 |  |  | 50 |  |  | (56 | ) |  | 6,612 |  |  | 6,612 |  |  | — |
U.S. government and agency securities | 1,537 |  |  | 3 |  |  | (3 | ) |  | 1,537 |  |  | 1,537 |  |  | — |
Mortgage-backed securities | 1,466 |  |  | 14 |  |  | (14 | ) |  | 1,466 |  |  | 1,466 |  |  | — |
Foreign government and agency securities | 65 |  |  | — |  |  | — |  |  | 65 |  |  | 65 |  |  | — |
Certificates of deposit | 47 |  |  | — |  |  | — |  |  | 47 |  |  | 47 |  |  | — |
Other asset-backed securities | 510 |  |  | 2 |  |  | — |  |  | 512 |  |  | 512 |  |  | — |
Debt funds | 3,148 |  |  | 6 |  |  | (322 | ) |  | 2,832 |  |  | 2,832 |  |  | — |
Total Level 2 | 13,391 |  |  | 75 |  |  | (395 | ) |  | 13,071 |  |  | 13,071 |  |  | — |
Level 3: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Auction rate securities | 109 |  |  | — |  |  | (7 | ) |  | 102 |  |  | — |  |  | 102 |
Total Level 3 | 110 |  |  | — |  |  | (7 | ) |  | 103 |  |  | — |  |  | 103 |
Total available-for-sale securities | 15,276 |  |  | 105 |  |  | (409 | ) |  | 14,972 |  |  | 14,770 |  |  | 202 |
Trading securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |
Exchange-traded funds | 65 |  |  | 16 |  |  | — |  |  | 81 |  |  | 81 |  |  | — |
Total Level 1: | 65 |  |  | 16 |  |  | — |  |  | 81 |  |  | 81 |  |  | — |
Total trading securities | 65 |  |  | 16 |  |  | — |  |  | 81 |  |  | 81 |  |  | — |
Cost method, equity method, and other investments: |  |  |  |  |  |  |  |  |  |  |
Level 3: |  |  |  |  |  |  |  |  |  |  |
Cost method, equity method, and other investments | 484 |  |  | — |  |  | — |  |  | N/A |  |  | — |  |  | 484 |
Total Level 3: | 484 |  |  | — |  |  | — |  |  | N/A |  |  | — |  |  | 484 |
Total cost method, equity method, and other investments | 484 |  |  | — |  |  | — |  |  | N/A |  |  | — |  |  | 484 |
Total investments | $ | 15,825 |  |  | $ | 121 |  |  | $ | (409 | ) |  | $ | 15,053 |  |  | $ | 14,851 |  |  | $ | 686 |
The following table summarizes the Company's investments by significant investment categories and the related condensed consolidated balance sheets presentation at April 24, 2015:
| Valuation |  | Balance Sheet Classification
(in millions) | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Investments |  | Other Assets
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities | $ | 1,525 |  |  | $ | 17 |  |  | $ | (1 | ) |  | $ | 1,541 |  |  | $ | 1,541 |  |  | $ | — |
Marketable equity securities | 64 |  |  | 35 |  |  | (19 | ) |  | 80 |  |  | — |  |  | 80 |
Total Level 1 | 1,589 |  |  | 52 |  |  | (20 | ) |  | 1,621 |  |  | 1,541 |  |  | 80 |
Level 2: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 6,282 |  |  | 105 |  |  | (10 | ) |  | 6,377 |  |  | 6,377 |  |  | — |
U.S. government and agency securities | 1,597 |  |  | 4 |  |  | (3 | ) |  | 1,598 |  |  | 1,598 |  |  | — |
Mortgage-backed securities | 1,462 |  |  | 22 |  |  | (6 | ) |  | 1,478 |  |  | 1,478 |  |  | — |
Foreign government and agency securities | 85 |  |  | — |  |  | — |  |  | 85 |  |  | 85 |  |  | — |
Certificates of deposit | 44 |  |  | — |  |  | — |  |  | 44 |  |  | 44 |  |  | — |
Other asset-backed securities | 504 |  |  | 3 |  |  | — |  |  | 507 |  |  | 507 |  |  | — |
Debt funds | 3,061 |  |  | 19 |  |  | (150 | ) |  | 2,930 |  |  | 2,930 |  |  | — |
Total Level 2 | 13,035 |  |  | 153 |  |  | (169 | ) |  | 13,019 |  |  | 13,019 |  |  | — |
Level 3: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 1 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Auction rate securities | 109 |  |  | — |  |  | (4 | ) |  | 105 |  |  | — |  |  | 105 |
Total Level 3 | 110 |  |  | — |  |  | (4 | ) |  | 106 |  |  | — |  |  | 106 |
Total available-for-sale securities | 14,734 |  |  | 205 |  |  | (193 | ) |  | 14,746 |  |  | 14,560 |  |  | 186 |
Trading securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Level 1: |  |  |  |  |  |  |  |  |  |  |
Exchange-traded funds | 58 |  |  | 19 |  |  | — |  |  | 77 |  |  | 77 |  |  | — |
Total Level 1 | 58 |  |  | 19 |  |  | — |  |  | 77 |  |  | 77 |  |  | — |
Total trading securities | 58 |  |  | 19 |  |  | — |  |  | 77 |  |  | 77 |  |  | — |
Cost method, equity method, and other investments: |  |  |  |  |  |  |  |  |  |  |
Level 3: |  |  |  |  |  |  |  |  |  |  |
Cost method, equity method, and other investments | 520 |  |  | — |  |  | — |  |  | N/A |  |  | — |  |  | 520 |
Total Level 3 | 520 |  |  | — |  |  | — |  |  | N/A |  |  | — |  |  | 520 |
Total cost method, equity method, and other investments | 520 |  |  | — |  |  | — |  |  | N/A |  |  | — |  |  | 520 |
Total investments | $ | 15,312 |  |  | $ | 224 |  |  | $ | (193 | ) |  | $ | 14,823 |  |  | $ | 14,637 |  |  | $ | 706 |
Gross Unrealized Losses and Fair Values of Available-for-sale Securities that Have Been in a Continuous Unrealized Loss Position Deemed to be Temporary, Aggregated by Investment Category | The following tables show the gross unrealized losses and fair values of the Company’s available-for-sale securities that have been in a continuous unrealized loss position deemed to be temporary, aggregated by investment category as of October 30, 2015 and April 24, 2015:
| October 30, 2015
| Less than 12 months |  | More than 12 months
(in millions) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Corporate debt securities | $ | 2,932 |  |  | $ | (50 | ) |  | $ | 183 |  |  | $ | (6 | )
Auction rate securities | — |  |  | — |  |  | 102 |  |  | (7 | )
Mortgage-backed securities | 622 |  |  | (10 | ) |  | 225 |  |  | (4 | )
U.S. government and agency securities | 1,146 |  |  | (5 | ) |  | 142 |  |  | (2 | )
Debt funds | 1,190 |  |  | (93 | ) |  | 1,128 |  |  | (229 | )
Marketable equity securities | 26 |  |  | (3 | ) |  | — |  |  | — |
Total | $ | 5,916 |  |  | $ | (161 | ) |  | $ | 1,780 |  |  | $ | (248 | )
| April 24, 2015
| Less than 12 months |  | More than 12 months
(in millions) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Corporate debt securities | $ | 944 |  |  | $ | (9 | ) |  | $ | 34 |  |  | $ | (1 | )
Auction rate securities | — |  |  | — |  |  | 105 |  |  | (4 | )
Mortgage-backed securities | 346 |  |  | (3 | ) |  | 206 |  |  | (3 | )
U.S. government and agency securities | 356 |  |  | (1 | ) |  | 267 |  |  | (3 | )
Debt funds | 1,291 |  |  | (109 | ) |  | 559 |  |  | (41 | )
Marketable equity securities | 4 |  |  | (19 | ) |  | — |  |  | — |
Total | $ | 2,941 |  |  | $ | (141 | ) |  | $ | 1,171 |  |  | $ | (52 | )
Unobservable Inputs Utilized in the Fair Value Measurement of Auction Rate Securities Classified as Level 3 | The following table represents the range of the unobservable inputs utilized in the fair value measurement of the auction rate securities classified as Level 3 as of October 30, 2015:
| Valuation Technique | Unobservable Input | Range (Weighted Average)
Auction rate securities | Discounted cash flow | Years to principal recovery | 2 yrs. - 12 yrs. (3 yrs.)
Illiquidity premium | 6%
Reconciliation of Beginning and Ending Balances of Items Measured at Fair Value on a Recurring Basis that Used Significant Unobservable Inputs (Level 3) | The following tables provide a 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 30, 2015 |  |  |  |  |  |  |  |
(in millions) | Total Level 3 Investments |  | Corporate debt securities |  | Auction rate securities
Balance as of July 31, 2015 | $ | 103 |  |  | $ | 1 |  |  | $ | 102 |
Total unrealized gains included in other comprehensive income | — |  |  | — |  |  | — |
Balance as of October 30, 2015 | $ | 103 |  |  | $ | 1 |  |  | $ | 102 |
Three months ended October 24, 2014 |  |  |  |  |  |  |  |
(in millions) | Total Level 3 Investments |  | Corporate debt securities |  | Auction rate securities
Balance as of July 25, 2014 | $ | 108 |  |  | $ | 9 |  |  | $ | 99 |
Total unrealized gains included in other comprehensive income | — |  |  | — |  |  | — |
Balance as of October 24, 2014 | $ | 108 |  |  | $ | 9 |  |  | $ | 99 |
Six months ended October 30, 2015 |  |  |  |  |  |  |  |
(in millions) | Total Level 3 Investments |  | Corporate debt securities |  | Auction rate securities
Balance as of April 24, 2015 | $ | 106 |  |  | $ | 1 |  |  | $ | 105 |
Total unrealized losses included in other comprehensive income | (3 | ) |  | — |  |  | (3 | )
Balance as of October 30, 2015 | $ | 103 |  |  | $ | 1 |  |  | $ | 102 |
Six months ended October 24, 2014 |  |  |  |  |  |  |  |
(in millions) | Total Level 3 Investments |  | Corporate debt securities |  | Auction rate securities
Balance as of April 24, 2014 | $ | 106 |  |  | $ | 9 |  |  | $ | 97 |
Total unrealized gains included in other comprehensive income | 2 |  |  | — |  |  | 2 |
Balance as of October 24, 2014 | $ | 108 |  |  | $ | 9 |  |  | $ | 99 |
Activity Related to the Company's Investment Portfolio | Activity related to the Company’s investment portfolio is as follows:
| Three months ended
| October 30, 2015 |  | October 24, 2014
(in millions) | Debt (a) |  | Equity (b) (c) |  | Debt (a) |  | Equity (b) (d)
Proceeds from sales | $ | 1,481 |  |  | $ | 5 |  |  | $ | 806 |  |  | $ | 7 |
Gross realized gains | 4 |  |  | 20 |  |  | 4 |  |  | 39 |
Gross realized losses | (7 | ) |  | — |  |  | (2 | ) |  | — |
Impairment losses recognized | — |  |  | (19 | ) |  | — |  |  | (20 | )
| Six months ended
| October 30, 2015 |  | October 24, 2014
(in millions) | Debt (a) |  | Equity (b) (c) |  | Debt (a) |  | Equity (b) (e)
Proceeds from sales | $ | 2,718 |  |  | $ | 34 |  |  | $ | 2,636 |  |  | $ | 29 |
Gross realized gains | 9 |  |  | 32 |  |  | 16 |  |  | 58 |
Gross realized losses | (12 | ) |  | — |  |  | (5 | ) |  | — |
Impairment losses recognized | — |  |  | (42 | ) |  | — |  |  | (20 | )
(a) | Includes available-for-sale debt securities.
(b) | Includes marketable equity securities, cost method, equity method, exchange-traded funds, and other investments.
(c) | As a result of certain acquisitions that occurred during the three and six months ended October 30, 2015, the Company recognized a non-cash realized gain of $9 million on its previously-held minority investment included in other expense, net on the condensed consolidated statement of income.
(d) | As a result of certain acquisitions that occurred during the three months ended October 24, 2014, the Company recognized a non-cash realized gain of $35 million on its previously-held minority investment included in other expense, net on the condensed consolidated statement of income.
(e) | As a result of certain acquisitions that occurred during the six months ended October 24, 2014, the Company recognized a non-cash realized gain of $41 million on its previously-held minority investments included in other expense, net on the condensed consolidated statement of income.
Available-for-sale Debt Securities Contractual Maturities | The October 30, 2015 balance of available-for-sale debt securities, excluding debt funds which have no single maturity date, by contractual maturity is shown in the following table. Within the table, maturities of mortgage-backed securities have been allocated based upon timing of estimated cash flows assuming no change in the current interest rate environment. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
(in millions) | October 30, 2015
Due in one year or less | $ | 2,245 |
Due after one year through five years | 6,314 |
Due after five years through ten years | 3,197 |
Due after ten years | 285 |
Total | $ | 12,041 |

X
- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
Name: | us-gaap_AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 and/or nonrecurring 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 (loss), 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, issues, 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (c)-(e) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51813488&loc=d3e22054-111558 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.M) -URI http://asc.fasb.org/extlink&oid=27011274&loc=d3e87990-122713 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section M + Details
Name: | us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration