Segment and Geographic Information

9 Months Ended

Jan. 29, 2016

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic Information

Segment information

The Company’s management evaluates performance and allocates resources based on profit and loss from operations before income taxes and interest expense, net, not including corporate determined charges, as presented in the table below. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies in Note 1 to the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended April 24, 2015.

Net sales of the Company’s reportable segments include end-customer revenues from the sale of products they each develop and manufacture or distribute. Net sales and income from operations before income taxes by reportable segment are as follows:

	Three months ended				Nine months ended
(in millions)	January 29, 2016		January 23, 2015		January 29, 2016		January 23, 2015
Cardiac and Vascular Group	$	2,410	$	2,224	$	7,460	$	6,765
Minimally Invasive Therapies Group	2,291		—		7,103		—
Restorative Therapies Group	1,759		1,645		5,335		4,897
Diabetes Group	474		449		1,368		1,295
Total Net Sales	$	6,934	$	4,318	$	21,266	$	12,957

	Three months ended						Nine months ended
(in millions)	January 29, 2016			January 23, 2015			January 29, 2016			January 23, 2015
Cardiac and Vascular Group	$	726		$	722		$	2,298		$	2,148
Minimally Invasive Therapies Group	282			—			963			—
Restorative Therapies Group	496			482			1,460			1,318
Diabetes Group	140			144			379			381
Total Reportable Segments’ Income Before Income Taxes	1,644			1,348			5,100			3,847
Special charges	—			138			—			38
Impact of inventory step-up	—			—			(226		)	—
Restructuring charges, net	(19		)	—			(159		)	(30		)
Certain litigation charges	—			—			(26		)	—
Acquisition-related items	(63		)	(80		)	(183		)	(182		)
Interest expense, net	(176		)	(81		)	(584		)	(94		)
Corporate	(207		)	(131		)	(720		)	(280		)
Total Income From Operations Before Income Taxes	$	1,179		$	1,194		$	3,202		$	3,299

Geographic information

Net sales to external customers by geography are as follows:

	Three months ended				Nine months ended
(in millions)	January 29, 2016		January 23, 2015		January 29, 2016		January 23, 2015
Americas (a)	$	4,229	$	2,615	$	13,064	$	7,747
EMEA (b) (c)	1,607		1,074		4,843		3,276
Asia-Pacific	729		403		2,235		1,270
Greater China	369		226		1,124		664
Total Net Sales	$	6,934	$	4,318	$	21,266	$	12,957

(a) The U.S., which is included in the Americas, had net sales to external customers of $3.965 billion and $12.205 billion for the three and nine months ended January 29, 2016, respectively, compared to $2.459 billion and $7.248 billion in the three and nine months ended January 23, 2015, respectively.

(b) EMEA consists of the following regions: Europe, Middle East, and Africa.

(c) Sales within Ireland were insignificant during all periods presented.

Certain prior period net sales to external customers by geography have been reclassified to conform to the current period classification.