Derivatives and Foreign Exchange Risk Management (Tables)

9 Months Ended

Jan. 24, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss) in Statement of Financial Performance

The amount and location of the gains (losses) in the condensed consolidated statements of earnings related to derivative instruments, not designated as hedging instruments, for the three and nine months ended January 24, 2014 and January 25, 2013 are as follows:

(in millions)		Three months ended
Derivatives Not Designated as Hedging Instruments	Location	January 24, 2014		January 25, 2013
Foreign currency exchange rate contracts	Other expense, net	$	75	$	(4	)

(in millions)		Nine months ended
Derivatives Not Designated as Hedging Instruments	Location	January 24, 2014		January 25, 2013
Foreign currency exchange rate contracts	Other expense, net	$	58	$	(24	)

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Other Comprehensive Income, Location

The amount of gains (losses) and location of the gains (losses) in the condensed consolidated statements of earnings and other comprehensive income (OCI) related to foreign currency exchange rate contract derivative instruments designated as cash flow hedges for the three months ended January 24, 2014 and January 25, 2013 are as follows:

Three months ended January 24, 2014
	Gross Gains (Losses) Recognized in OCI on Effective Portion of Derivative			Effective Portion of Gains (Losses) on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	80		Other expense, net	$	16
				Cost of products sold	(4		)
Total	$	80			$	12
Three months ended January 25, 2013
	Gross Gains (Losses) Recognized in OCI on Effective Portion of Derivative			Effective Portion of Gains (Losses) on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	(20	)	Other expense, net	$	22
				Cost of products sold	4
Total	$	(20	)		$	26
Nine months ended January 24, 2014
	Gross Gains (Losses) Recognized in OCI on Effective Portion of Derivative			Effective Portion of Gains (Losses) on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	(74	)	Other expense, net	$	71
				Cost of products sold	(33		)
Total	$	(74	)		$	38
Nine months ended January 25, 2013
	Gross Gains (Losses) Recognized in OCI on Effective Portion of Derivative			Effective Portion of Gains (Losses) on Derivative Reclassified from Accumulated Other Comprehensive Loss into Income
(in millions)
Derivatives in Cash Flow Hedging Relationships	Amount			Location	Amount
Foreign currency exchange rate contracts	$	(21	)	Other expense, net	$	64
				Cost of products sold	5
Total	$	(21	)		$	69

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

January 24, 2014
	Asset Derivatives			Liability Derivatives
(in millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign currency exchange rate contracts	Prepaid expenses and other current assets	$	118	Other accrued expenses	$	75
Interest rate contracts	Other assets	107		Other long-term liabilities	14
Foreign currency exchange rate contracts	Other assets	38		Other long-term liabilities	22
Total derivatives designated as hedging instruments		$	263		$	111
Derivatives not designated as hedging instruments
Total derivatives not designated as hedging instruments		$	—		$	—
Total derivatives		$	263		$	111

April 26, 2013
	Asset Derivatives			Liability Derivatives
(in millions)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign currency exchange rate contracts	Prepaid expenses and other current assets	$	150	Other accrued expenses	$	34
Interest rate contracts	Other assets	181		Other long-term liabilities	18
Foreign currency exchange rate contracts	Other assets	63		Other long-term liabilities	5
Total derivatives designated as hedging instruments		$	394		$	57
Derivatives not designated as hedging instruments
Foreign currency exchange rate contracts	Prepaid expenses and other current assets	$	—	Other accrued expenses	$	1
Total derivatives not designated as hedging instruments		$	—		$	1
Total derivatives		$	394		$	58

Offsetting Assets and Liabilities [Table Text Block]

The following table provides information as if the Company had elected to offset the asset and liability balances of derivative instruments, netted in accordance with various criteria as stipulated by the terms of the master netting arrangements with each of the counterparties. Derivatives not subject to master netting arrangements are not eligible for net presentation.

January 24, 2014				Gross Amount Not Offset on the Balance Sheet
(in millions)	Gross Amount of Recognized Assets (Liabilities)			Financial Instruments			Cash Collateral (Received) or Posted		Net Amount
Derivative Assets
Foreign currency exchange rate contracts	$	156		$	(72	)	$	—	$	84
Interest rate contracts	107			(30		)	—		77
	$	263		$	(102	)	$	—	$	161
Derivative Liabilities
Foreign currency exchange rate contracts	$	(97	)	$	88		$	—	$	(9	)
Interest rate contracts	(14		)	14			—		—
	$	(111	)	$	102		$	—	$	(9	)
Total	$	152		$	—		$	—	$	152

April 26, 2013				Gross Amount Not Offset on the Balance Sheet
(in millions)	Gross Amount of Recognized Assets (Liabilities)			Financial Instruments			Cash Collateral (Received) or Posted			Net Amount
Derivative Assets
Foreign currency exchange rate contracts	$	213		$	(42	)	$	(24	)	$	147
Interest rate contracts	181			(16		)	(6		)	159
	$	394		$	(58	)	$	(30	)	$	306
Derivative Liabilities
Foreign currency exchange rate contracts	$	(40	)	$	40		$	—		$	—
Interest rate contracts	(18		)	18			—			—
	$	(58	)	$	58		$	—		$	—
Total	$	336		$	—		$	(30	)	$	306