Acquisitions and Acquisition-Related Items (Tables)

12 Months Ended

Apr. 28, 2017

Business Acquisition [Line Items]

Fair Value Inputs, Liabilities, Quantitative Information

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

(in millions)	Fair Value at April 28, 2017		Valuation Technique	Unobservable Input	Range
				Discount rate	11% - 32.5%
Revenue-based payments	$	106	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	$	140	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:

	Fiscal Year
(in millions)	2017			2016
Beginning Balance	$	377		$	264
Purchase price contingent consideration	28			149
Contingent consideration payments	(76		)	(22		)
Change in fair value of contingent consideration	(83		)	(14		)
Ending Balance	$	246		$	377

2017 Acquisitions

Business Acquisition [Line Items]

Schedule of Fair Value of the Assets Acquired and Liabilities Assumed

The fair values of the assets acquired and liabilities assumed from acquisitions during fiscal year 2017 are as follows:

(in millions)	HeartWare International, Inc.		Smith & Nephew's Gynecology Business		All Other		Total
Other current assets	$	351	$	—	$	23	$	374
Property, plant, and equipment	14		3		4		21
Other intangible assets	625		167		65		857
Goodwill	427		180		125		732
Other assets	55		—		16		71
Total assets acquired	1,472		350		233		2,055
Current liabilities	143		—		10		153
Deferred tax liabilities	6		—		7		13
Long-term debt	245		—		—		245
Other liabilities	6		—		4		10
Total liabilities assumed	400		—		21		421
Net assets acquired	$	1,072	$	350	$	212	$	1,634