Medtronic 2013 Annual Report Download - page 99
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75732me_10K.indd 84 6/25/13 6:39 PM
Table of Contents
Medtronic, Inc.
Notes to Consolidated Financial Statements (Continued)
The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis:
Fair Value Fair Value Measurements
as of Using Inputs Considered as
(in millions) April 26, 2013 Level 1 Level 2 Level 3
Assets:
Corporate debt securities $ 4,661 $ — $ 4,651 $ 10
Auction rate securities 103 — — 103
Mortgage-backed securities 1,053 — 1,039 14
U.S. government and agency securities 3,898 1,833 2,065 —
Foreign government and agency securities 38 — 38 —
Certificates of deposit 6 — 6 —
Other asset-backed securities 541 — 541 —
Marketable equity securities 155 155 — —
Exchange-traded funds 50 50 — —
Derivative assets 394 213 181 —
Total assets $ 10,899 $ 2,251 $ 8,521 $ 127
Liabilities:
Derivative liabilities $ 58 $ 40 $ 18 $ —
Contingent milestone payments associated with
acquisitions subsequent to April 24, 2009 142 — — 142
Total liabilities $ 200 $ 40 $ 18 $ 142
Fair Value Measurements
Fair Value as of Using Inputs Considered as
(in millions) April 27, 2012 Level 1 Level 2 Level 3
Assets:
Corporate debt securities $ 3,541 $ — $ 3,531 $ 10
Auction rate securities 127 — — 127
Mortgage-backed securities 839 — 810 29
U.S. government and agency securities 3,160 1,511 1,649 —
Foreign government and agency securities 67 — 67 —
Certificates of deposit 47 — 47 —
Other asset-backed securities 537 — 531 6
Marketable equity securities 253 253 — —
Exchange-traded funds 46 46 — —
Derivative assets 254 87 167 —
Total assets $ 8,871 $ 1,897 $ 6,802 $ 172
Liabilities:
Derivative liabilities $ 82 $ 37 $ 45 $ —
Contingent milestone payments associated with
acquisitions subsequent to April 24, 2009 231 — — 231
Total liabilities $ 313 $ 37 $ 45 $ 231
Valuation Techniques
Financial assets that are classified as Level 1 securities include highly liquid government bonds within the U.S. government and
agency securities, marketable equity securities, and exchange-traded funds for which quoted market prices are available. In addition,
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