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Acquisitions and Acquisition-Related Items (Tables)

3 Months Ended

Jul. 28, 2017

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)		July 28, 2017		Valuation Technique		Unobservable Input		Range
						Discount rate		11% - 32.5%
Revenue-based payments		$103		Discounted cash flow		Probability of payment		30% - 100%
						Projected fiscal year of payment		2018 - 2026
						Discount rate		0.3% - 5.5%
Product development-based payments		$139		Discounted cash flow		Probability of payment		75% - 100%
						Projected fiscal year of payment		2018 - 2025

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:

	Three months ended
(in millions)	July 28, 2017				July 29, 2016
Beginning Balance	$	246			$	377
Purchase price contingent consideration	—				21
Payments	(3		)		(14		)
Change in fair value	(1		)		(5		)
Ending Balance	$	242			$	379

Heartware International, Inc.

Business Acquisition [Line Items]

Fair Value of Assets Acquired and Liabilities Assumed

The acquisition date fair values of the assets and liabilities acquired are as follows:

(in millions)	HeartWare International, Inc.
Other current assets	$	351
Property, plant, and equipment	14
Other intangible assets	625
Goodwill	481
Other assets	84
Total assets acquired	1,555
Current liabilities	143
Deferred tax liabilities	6
Long-term debt	245
Other liabilities	89
Total liabilities assumed	483
Net assets acquired	$	1,072

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+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472

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