Acquisitions (Tables)

6 Months Ended

Oct. 26, 2018

Business Combinations [Abstract]

Fair Value of Assets Acquired and Liabilities Assumed

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

(in millions)
Current assets	$	6
Other intangible assets	118
Goodwill	60
Other assets	3
Total assets acquired	187
Current liabilities	16
Other liabilities	5
Total liabilities assumed	21
Net assets acquired	$	166

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						Six months ended
(in millions)	October 26, 2018			October 27, 2017			October 26, 2018			October 27, 2017
Beginning Balance	$	208		$	242		$	173		$	246
Purchase price contingent consideration	11			15			46			15
Payments	(1		)	(43		)	(7		)	(46		)
Change in fair value	(15		)	(24		)	(9		)	(25		)
Ending Balance	$	203		$	190		$	203		$	190

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 26, 2018	Valuation Technique	Unobservable Input	Range
			Discount rate	11.5% - 32.5%
Revenue and other performance-based payments	$104	Discounted cash flow	Probability of payment	100%
			Projected fiscal year of payment	2019 - 2025
			Discount rate	5.5%
Product development and other milestone-based payments	$99	Discounted cash flow	Probability of payment	75% - 100%
			Projected fiscal year of payment	2019 - 2027

The following table presents the unobservable inputs utilized in the fair value measurement of the auction rate securities classified as Level 3 at October 26, 2018:

	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%