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Retirement Benefit Plans (Tables)
 12 Months Ended
Apr. 25, 2025
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans The change in benefit obligation and funded status of the Company’s U.S. and Non-U.S. pension benefits are as follows:
 
U.S. Pension Benefits(1)
Non-U.S. Pension Benefits
 Fiscal YearFiscal Year
(in millions)2025202420252024
Accumulated benefit obligation at end of year:$3,235 $3,144 $1,685 $1,513 
Change in projected benefit obligation:    
Projected benefit obligation at beginning of year$3,194 $3,451 $1,604 $1,499 
Service cost52 61 43 42 
Interest cost174 162 52 53 
Employee contributions— — 10 9 
Plan curtailments, settlements, and amendments— — (2)(10)
Actuarial loss (gain)(2)
22 (245)21 116 
Benefits paid(173)(234)(59)(65)
Currency exchange rate changes and other— — 129 (41)
Projected benefit obligation at end of year$3,269 $3,194 $1,797 $1,604 
Change in plan assets:    
Fair value of plan assets at beginning of year$3,551 $3,398 $1,659 $1,614 
Actual return on plan assets200 356 34 103 
Employer contributions31 32 45 40 
Employee contributions— — 10 9 
Plan settlements— — (2)(7)
Benefits paid(173)(234)(59)(65)
Currency exchange rate changes and other— — 138 (36)
Fair value of plan assets at end of year$3,610 $3,551 $1,823 $1,659 
Funded status at end of year:    
Fair value of plan assets$3,610 $3,551 $1,823 $1,659 
Benefit obligations3,269 3,194 1,797 1,604 
Over funded status of the plans341 357 27 54 
Recognized asset$341 $357 $27 $54 
Amounts recognized on the consolidated
balance sheets consist of:
Non-current assets$591 $617 $322 $296 
Current liabilities(29)(30)(7)(7)
Non-current liabilities(221)(230)(289)(235)
Recognized asset$341 $357 $27 $54 
Amounts recognized in accumulated other
comprehensive loss:
Prior service credit$(14)$(16)$(3)$(3)
Net actuarial loss602 534 230 161 
Ending balance$588 $517 $226 $158 
(1)In April 2020, the Company announced the freezing of the U.S. pension benefits beginning Plan year 2028. Employees will continue to earn benefits as required by the Medtronic Retirement Plan until April 30, 2027, after which date benefits will no longer be earned and employees will earn benefits through the Medtronic Savings and Investment Plan.
(2)Actuarial gains and losses result from changes in actuarial assumptions (such as changes in the discount rate and revised mortality rates). The actuarial gains and losses were primarily driven by increases and decreases in discount rates, respectively.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets U.S. and non-U.S. pension plans with accumulated benefit obligations in excess of plan assets consist of the following:
 Fiscal Year
(in millions)20252024
Accumulated benefit obligation$813 $773 
Projected benefit obligation849 809 
Plan assets at fair value347 334 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
U.S. and non-U.S. pension plans with projected benefit obligations in excess of plan assets consist of the following:
 Fiscal Year
(in millions)20252024
Projected benefit obligation$1,470 $1,321 
Plan assets at fair value924 819 
Schedule of Net Benefit Costs
The net periodic benefit cost of the plans includes the following components:
 U.S. Pension BenefitsNon-U.S. Pension Benefits
 Fiscal YearFiscal Year
(in millions)202520242023202520242023
Service cost$52 $61 $77 $43 $42 $43 
Interest cost174 162 142 52 53 38 
Expected return on plan assets(264)(261)(224)(68)(72)(58)
Amortization of prior service cost(2)(2)— — (1)(1)
Amortization of net actuarial loss (gain)16 18 20 1 (1)2 
Settlement and curtailment (gain) loss— — — — (3)2 
Special termination benefits— — 74 — — — 
Net periodic benefit (credit) cost$(24)$(22)$89 $28 $18 $26 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
The other changes in plan assets and projected benefit obligations recognized in other comprehensive (loss) income for fiscal year 2025 are as follows:
(in millions)U.S. Pension
Benefits		Non-U.S.
Pension
Benefits
Net actuarial loss$85 $54 
Amortization of prior service cost2 — 
Amortization and settlement recognition of actuarial (gain) loss(16)1 
Effect of exchange rates— 16 
Total recognized in other comprehensive loss71 69 
Total recognized in net periodic benefit cost and other comprehensive loss$47 $97 
Schedule of Assumptions Used
The actuarial assumptions are as follows:

 U.S. Pension BenefitsNon-U.S. Pension Benefits
 Fiscal YearFiscal Year
 202520242023202520242023
Critical assumptions – projected benefit obligation:      
Discount rate
5.24% - 5.76%
5.54% - 5.75%
4.73% - 4.99%
1.21% - 24.40%
1.40% - 26.40%
1.30% - 10.70%
Rate of compensation increase3.90 %3.90 %3.90 %2.89 %2.85 %2.75 %
Critical assumptions – net periodic benefit cost:      
Discount rate – benefit obligation
5.54% - 5.75%
4.73% - 4.99%
4.23% - 4.48%
1.40% - 26.40%
1.30% - 10.70%
0.60% - 25.40%
Discount rate – service cost
5.53% - 5.82%
4.68% - 5.07%
4.12% - 4.51%
1.40% - 26.40%
1.30% - 10.70%
0.60% - 25.40%
Discount rate – interest cost
5.51% - 5.63%
4.73% - 4.90%
3.90% - 4.23%
1.40% - 26.40%
1.30% - 10.70%
0.60% - 25.40%
Expected return on plan assets
6.40% - 8.10%
6.40% - 8.10%
5.30% - 7.20%
3.80 %4.07 %3.48 %
Rate of compensation increase3.90 %3.90 %3.90 %2.85 %2.75 %2.70 %
Schedule of Allocation of Plan Assets
The Company’s U.S. plans target asset allocations at April 25, 2025, compared to the U.S. plans actual asset allocations at April 25, 2025 and April 26, 2024 by asset category, are as follows:
U.S. PlansTarget AllocationActual Allocation
 
April 25, 2025
April 25, 2025
April 26, 2024
Asset Category:
Equity securities34 %39 %39 %
Debt securities51 40 40 
Other15 21 21 
Total100 %100 %100 %
Schedule of Fair Value Measurements, Retirement Benefit Plan Assets
The following tables provide information by level for the retirement benefit plan assets that are measured at fair value, as defined by U.S. GAAP. Certain investments for which the fair value is measured using the net asset value per share (or its equivalent) practical expedient are not presented within the fair value hierarchy. The fair value amounts presented for these investments are intended to permit reconciliation to the total fair value of plan assets at April 25, 2025 and April 26, 2024.
U.S. Pension Benefits
 Fair Value at 
 Fair Value Measurements
Using Inputs Considered as		Investments Measured at Net Asset Value
(in millions)April 25, 2025Level 1Level 2Level 3
Short-term investments$70 $70 $— $— $— 
Mutual funds92 92 — — — 
Equity commingled trusts1,011 — — — 1,011 
Fixed income commingled trusts1,296 — — — 1,296 
Partnership units1,142 — — — 1,142 
$3,610 $162 $— $— $3,448 
 Fair Value atFair Value Measurements
Using Inputs Considered as		Investments Measured at Net Asset Value
(in millions)April 26, 2024Level 1Level 2Level 3
Short-term investments$80 $80 $— $— $— 
Mutual funds106 106 — — — 
Equity commingled trusts942 — — — 942 
Fixed income commingled trusts1,273 — — — 1,273 
Partnership units1,151 — — — 1,151 
$3,551 $186 $— $— $3,366 

Non-U.S. Pension Benefits
 Fair Value atFair Value Measurements
Using Inputs Considered as		Investments Measured at Net Asset Value
(in millions)April 25, 2025Level 1Level 2Level 3
Registered investment companies$1,775 $— $— $— $1,775 
Insurance contracts48 — — 48 — 
$1,823 $— $— $48 $1,775 
 Fair Value atFair Value Measurements
Using Inputs Considered as		Investments Measured at Net Asset Value
(in millions)April 26, 2024Level 1Level 2Level 3
Registered investment companies$1,617 $— $— $— $1,617 
Insurance contracts42 — — 42 — 
$1,659 $— $— $42 $1,617 
Schedule of Expected Benefit Payments
Retiree benefit payments, which reflect expected future service, are anticipated to be paid as follows:
(in millions)Gross Payments
Fiscal YearU.S. Pension BenefitsNon-U.S. Pension Benefits
2026$192 $77 
2027201 71 
2028212 76 
2029219 81 
2030227 85 
2031 – 20351,191 483