Retirement Benefit Plans (Tables)

12 Months Ended

Apr. 27, 2012

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans

	U.S.				Non-U.S.				Post-Retirement
	Pension Benefits				Pension Benefits				Benefits
	Fiscal Year				Fiscal Year				Fiscal Year
(in millions)	2012		2011		2012		2011		2012		2011
Accumulated benefit obligation at end of year:	$	1,673	$	1,342	$	589	$	526	$	339	$	295
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	1,516	$	1,284	$	638	$	539	$	295	$	270
Service cost		92		87		42		39		19		18
Interest cost		87		77		29		25		17		16
Employee contributions		-		-		14		12		9		7
Plan amendments		-		8		(4)		2		-		(4)
Actuarial loss/(gain)		230		80		72		(41)		16		1
Benefits paid		(48)		(33)		(25)		(6)		(18)		(16)
Medicare Part D reimbursements		-		-		-		-		1		1
Special termination benefits		-		13		-		-		-		2
Foreign currency exchange rate changes		-		-		(49)		68		-		-
Projected benefit obligation at end of year		1,877		1,516		717		638		339		295
Change in plan assets:
Fair value of plan assets at beginning of year		1,392		1,104		606		420		198		158
Actual return on plan assets		25		141		49		14		4		21
Employer contributions		101		180		39		102		11		28
Employee contributions		-		-		14		12		9		7
Benefits paid		(48)		(33)		(25)		(6)		(18)		(16)
Foreign currency exchange rate changes		-		-		(45)		64		-		-
Fair value of plan assets at end of year		1,470		1,392		638		606		204		198
Funded status at end of year:
Fair value of plan assets		1,470		1,392		638		606		204		198
Benefit obligations		1,877		1,516		717		638		339		295
Underfunded status of the plans		(407)		(124)		(79)		(32)		(135)		(97)
Recognized liability	$	(407)	$	(124)	$	(79)	$	(32)	$	(135)	$	(97)
Amounts recognized on the consolidated balance sheets consist of:
Non-current assets	$	-	$	46	$	20	$	45	$	-	$	-
Current liabilities		(8)		(7)		(2)		(2)		(1)		(1)
Non-current liabilities		(399)		(163)		(97)		(75)		(134)		(96)
Recognized liability	$	(407)	$	(124)	$	(79)	$	(32)	$	(135)	$	(97)
Amounts recognized in accumulated other comprehensive (loss)/income:
Prior service (benefit)/cost	$	5	$	4	$	6	$	13	$	(3)	$	(3)
Net actuarial loss		969		688		175		130		108		83
Ending balance	$	974	$	692	$	181	$	143	$	105	$	80

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

In certain countries outside the U.S., fully funding pension plans is not a common practice, as funding provides no income tax benefit. Consequently, certain pension plans were partially funded as of April 27, 2012 and April 29, 2011. U.S. and non-U.S. plans with accumulated benefit obligations in excess of plan assets consist of the following:
	Fiscal Year
(in millions)	2012		2011
Accumulated benefit obligation	$	1,737	$	396
Projected benefit obligation		1,955		437
Plan assets at fair value		1,481		193

Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets

Plans with projected benefit obligations in excess of plan assets consist of the following:
	Fiscal Year
(in millions)	2012		2011
Projected benefit obligation	$	2,456	$	474
Plan assets at fair value		1,950		225

Schedule of Net Benefit Costs

The net periodic benefit cost of the plans include the following components:
	U.S. Pension Benefits						Non-U.S. Pension Benefits						Post-Retirement Benefits
	Fiscal Year						Fiscal Year						Fiscal Year
(in millions)	2012		2011		2010		2012		2011		2010		2012		2011		2010
Service cost	$	92	$	87	$	63	$	42	$	39	$	27	$	18	$	18	$	12
Interest cost		87		77		68		29		26		22		17		16		14
Expected return on plan assets		(121)		(106)		(100)		(36)		(27)		(24)		(16)		(13)		(9)
Amortization of prior service cost		(1)		(2)		(1)		1		1		1		-		-		-
Amortization of net actuarial loss		45		34		2		4		5		1		4		5		2
Curtailment gain		-		-		-		-		-		(1)		-		-		-
Net periodic benefit cost		102		90		32		40		44		26		23		26		19
Special termination benefits		-		13		7		-		-		-		-		2		2
Total cost for the period	$	102	$	103	$	39	$	40	$	44	$	26	$	23	$	28	$	21

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

The other changes in plan assets and projected benefit obligations recognized in accumulated other comprehensive (loss)/income for fiscal year 2012 are as follows:
(in millions)	U.S. Pension Benefits		Non-U.S. Pension Benefits		Post-Retirement Benefits
Net actuarial loss	$	326	$	59	$	29
Prior service credit		-		(4)		-
Amortization of prior service cost/(credit)		1		(1)		-
Amortization of net actuarial gain		(45)		(4)		(4)
Effect of exchange rates		-		(11)		-
Total recognized in accumulated other comprehensive loss	$	282	$	39	$	25
Total recognized in net periodic pension cost and accumulated other comprehensive loss	$	384	$	79	$	48

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The estimated amounts that will be amortized from accumulated other comprehensive (loss)/income into net periodic benefit cost, before tax, in fiscal year 2013 are as follows:
(in millions)	U.S. Pension Benefits		Non-U.S. Pension Benefits		Post-Retirement Benefits
Amortization of prior service cost	$	-	$	1	$	-
Amortization of net actuarial loss		71		8		5
	$	71	$	9	$	5

Schedule of Assumptions Used

The actuarial assumptions are as follows:
	U.S. Pension Benefits						Non-U.S. Pension Benefits						Post-Retirement Benefits
	Fiscal Year						Fiscal Year						Fiscal Year
	2012		2011		2010		2012		2011		2010		2012		2011		2010
Weighted average assumptions – projected benefit obligation:
Discount rate	5.05	%	1.00	%	6.05	%	3.98	%	4.75	%	4.68	%	5.05	%	5.80	%	6.05	%
Rate of compensation increase	3.80	%	3.80	%	3.80	%	2.85	%	2.97	%	3.05	%	N/A		N/A		N/A
Initial health care cost trend rate pre-65	N/A		N/A		N/A		N/A		N/A		N/A		7.50	%	7.75	%	8.00	%
Initial health care cost trend rate post-65	N/A		N/A		N/A		N/A		N/A		N/A		7.25	%	7.50	%	7.75	%
Weighted average assumptions – net periodic benefit cost:
Discount rate	5.80	%	6.05	%	8.25	%	4.75	%	4.68	%	5.41	%	5.80	%	6.05	%	8.25	%
Expected return on plan assets	8.25	%	8.25	%	8.25	%	5.82	%	5.71	%	5.78	%	8.25	%	8.25	%	8.25	%
Rate of compensation increase	3.80	%	3.80	%	4.00	%	2.97	%	3.05	%	2.90	%	N/A		N/A		N/A
Initial health care cost trend rate pre-65	N/A		N/A		N/A		N/A		N/A		N/A		7.75	%	8.00	%	8.50	%
Initial health care cost trend rate post-65	N/A		N/A		N/A		N/A		N/A		N/A		7.50	%	7.75	%	8.00	%

Schedule of Allocation of Plan Assets

U.S. Plans
	Target Allocation
	2012		2011
Asset Category
Equity securities	50	%	50	%
Debt securities	20		20
Other	30		30
Total	100	%	100	%
Non-U.S. Plans
	Target Allocation
	2012		2011
Asset Category
Equity securities	41	%	41	%
Debt securities	23		23
Other	36		36
Total	100	%	100	%

Fair Value Measurements, Retirement Benefit Plan Assets

U.S.Pension Benefits

	Fair Value		Fair Value Measurements
	at		Using Inputs Considered as
(in millions)	April 27, 2012		Level 1		Level 2		Level 3
Short-term investments	$	133	$	133	$	-	$	-
U.S. government securities		169		151		18		-
Corporate debt securities		46		-		45		1
Other common stock		186		186		-		-
Equity mutual funds/commingled trusts		316		-		123		193
Fixed income mutual funds		62		-		62		-
Partnership units		558		-		-		558
	$	1,470	$	470	$	248	$	752
	Fair Value		Fair Value Measurements
	at		Using Inputs Considered as
(in millions)	April 29, 2011		Level 1		Level 2		Level 3
Short-term investments	$	186	$	186	$	-	$	-
U.S. government securities		118		74		44		-
Corporate debt securities		82		-		82		-
Other common stock		201		201		-		-
Equity mutual funds/commingled trusts		309		-		67		242
Fixed income mutual funds		53		-		53		-
Partnership units		443		-		-		443
	$	1,392	$	461	$	246	$	685

Non-U.S. Benefits

Post-Retirement Benefits
	Fair Value		Fair Value Measurements
	at		Using Inputs Considered as
(in millions)	April 27, 2012		Level 1		Level 2		Level 3
Short-term investments	$	19	$	19	$	-	$	-
U.S. government securities		25		22		3		-
Corporate debt securities		6		-		6		-
Other common stock		27		27		-		-
Equity mutual funds/commingled trusts		46		-		18		28
Fixed income mutual funds		9		-		9		-
Partnership units		80		-		-		80
Total	$	212	$	68	$	36	$	108
Other items to reconcile to fair value of plan assets		(8)
	$	204
	Fair Value		Fair Value Measurements
	at		Using Inputs Considered as
(in millions)	April 29, 2011		Level 1		Level 2		Level 3
Short-term investments	$	28	$	28	$	-	$	-
U.S. government securities		17		11		6		-
Corporate debt securities		12		-		12		-
Other common stock		30		30		-		-
Equity mutual funds/commingled trusts		46		-		10		36
Fixed income mutual funds		8		-		8		-
Partnership units		66		-		-		66
Total	$	207	$	69	$	36	$	102
Other items to reconcile to fair value of plan assets		(9)
	$	198

Post-Retirement Benefits

Fair Value, Retirement Benefit Plan Assets, Unobservable Input Reconciliation

U.S.Pension Benefits

The following table provides a reconciliation of the beginning and ending balances of U.S. pension benefits assets measured at fair value that used significant unobservable inputs (Level 3):
	April 27,		April 29,
(in millions)	2012		2011
Beginning Balance	$	685	$	601
Total realized gains/(losses) and other-than-temporary impairment (losses), net included in earnings		17		5
Total unrealized (losses)/gains included in accumulated other comprehensive loss		(17)		78
Purchases, issuances, and settlements		67		1
Ending Balance	$	752	$	685

Non-U.S. Benefits

The following table provides a reconciliation of the beginning and ending balances of non-U.S. pension benefits assets measured at fair value that used significant unobservable inputs (Level 3):
	April 27,		April 29,
(in millions)	2012		2011
Beginning Balance	$	16	$	7
Foreign currency exchange		(2)		1
Purchases, issuances, and settlements		2		8
Ending Balance	$	16	$	16

Post-Retirement Benefits

The following table provides a reconciliation of the beginning and ending balances of post-retirement benefit assets measured at fair value that used significant unobservable inputs (Level 3):
	April 27,		April 29,
(in millions)	2012		2011
Beginning Balance	$	102	$	89
Total realized gains/(losses) and other-than-temporary impairment (losses), net included in earnings		2		1
Total unrealized gains included in accumulated other comprehensive loss		(2)		12
Purchases, issuances, and settlements		6		-
Ending Balance	$	108	$	102

Schedule of Expected Benefit Payments

(in millions)	U.S. Pension Benefits		Non-U.S. Pension Benefits		Post-Retirement Benefits
Fiscal Year	Gross Payments		Gross Payments		Gross Payments		Gross Medicare Part D Receipts
2013	$	53	$	19	$	11	$	1
2014		59		21		12		1
2015		65		22		14		1
2016		72		24		16		1
2017		80		25		19		2
2018 – 2022		528		152		134		15
Total	$	857	$	263	$	206	$	21

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

(in millions)		One-Percentage- Point Increase		One-Percentage- Point Decrease
Effect on post-retirement benefit cost	$	2	$	(2)
Effect on post-retirement benefit obligation		17		(16)