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Acquisitions and Acquisition-Related Items (Tables)

6 Months Ended

Oct. 30, 2015

Business Acquisition [Line Items]

Fair Value Measurements, Contingent Consideration, Significant Unobservable Inputs

The recurring Level 3 fair value measurements of contingent consideration include the following significant unobservable inputs:

		Fair Value at
($ in millions)		October 30, 2015		Valuation Technique		Unobservable Input		Range
						Discount rate		11% - 27.2%
Revenue-based payments		$203		Discounted cash flow		Probability of payment		30% - 100%
						Projected fiscal year of payment		2016 - 2025
						Discount rate		0.6% - 5.5%
Product development-based payments		$165		Discounted cash flow		Probability of payment		15% - 100%
						Projected fiscal year of payment		2016 - 2020

Reconciliation of Beginning and Ending Balances of Contingent Consideration Associated with Acquisitions

The following table provides a reconciliation of the beginning and ending balances of contingent consideration associated with acquisitions subsequent to April 24, 2009:

	Three months ended								Six months ended
(in millions)	October 30, 2015				October 24, 2014				October 30, 2015				October 24, 2014
Beginning Balance	$	291			$	87			$	264			$	68
Purchase price contingent consideration	109				—				135				23
Contingent consideration payments	(17		)		—				(20		)		(5		)
Change in fair value of contingent consideration	(15		)		4				(11		)		5
Ending Balance	$	368			$	91			$	368			$	91

Covidien plc [Member]

Business Acquisition [Line Items]

Fair Value of Assets Acquired and Liabilities Assumed

The preliminary fair values of the assets acquired and liabilities assumed in connection with the Transactions are as follows:

(estimated in millions)	January 26, 2015 (as previously reported)				Adjustments				January 26, 2015 (as adjusted)
Accounts receivable	$	1,349			$	—			$	1,349
Inventories	2,222				(1		)		2,221
Other current assets	2,949				185				3,134
Property, plant, and equipment	2,354				(21		)		2,333
Goodwill	29,586				22				29,608
Intangible assets	26,265				(71		)		26,194
Other assets	747				24				771
Total assets acquired	65,472				138				65,610
Short-term borrowings	1,011				—				1,011
Other current liabilities	2,331				87				2,418
Long-term debt	4,623				—				4,623
Long-term deferred tax liabilities	4,736				73				4,809
Other long-term liabilities	2,783				(22		)		2,761
Total liabilities assumed	15,484				138				15,622
Net assets acquired	$	49,988			$	—			$	49,988

Acquisitions 2016 [Member]

Business Acquisition [Line Items]

Fair Value of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed during the six months ended October 30, 2015 are as follows:

(in millions)	Twelve, Inc.				RF Surgical Systems, Inc.				Medina Medical				All Other				Total
Other current assets	$	60			$	43			$	11			$	33			$	147
Property, plant, and equipment	—				3				—				4				7
IPR&D	192				—				122				108				422
Other intangible assets	—				115				—				120				235
Goodwill	301				132				126				170				729
Other assets	—				2				—				6				8
Total assets acquired	553				295				259				441				1,548
Current liabilities	37				28				6				17				88
Long-term deferred tax liabilities, net	44				27				34				29				134
Other liabilities	—				—				—				2				2
Total liabilities assumed	81				55				40				48				224
Net assets acquired	$	472			$	240			$	219			$	393			$	1,324

Acquisitions 2015 [Member]

Business Acquisition [Line Items]

Fair Value of Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed from acquisitions during fiscal year 2015, other than the Covidien acquisition, are as follows:

(in millions)	NGC Medical S.p.A.				Sapiens Steering Brain Stimulation				All Other				Total
Other current assets	$	55			$	3			$	12			$	70
Property, plant, and equipment	15				1				2				18
IPR&D	—				30				41				71
Other intangible assets	159				—				157				316
Goodwill	197				170				106				473
Other assets	3				3				49				55
Total assets acquired	429				207				367				1,003
Current liabilities	34				4				6				44
Long-term deferred tax liabilities, net	51				—				66				117
Other liabilities	4				—				—				4
Total liabilities assumed	89				4				72				165
Net assets acquired	$	340			$	203			$	295			$	838

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