Medtronic plc Notes to Consolidated Financial Statements (Unaudited)
The following tables provide a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3):
| | | | | | | | | | | | | | Three months ended October 27, 2017 | (in millions) | Total Level 3
Investments | | Corporate Debt
Securities | | Auction Rate
Securities | July 28, 2017 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
| Total unrealized gains (losses) included in other comprehensive income | — |
| | — |
| | — |
| October 27, 2017 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
| | | | | | | | Three months ended October 28, 2016 | (in millions) | Total Level 3
Investments | | Corporate Debt
Securities | | Auction Rate
Securities | July 29, 2016 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
| Total unrealized gains (losses) included in other comprehensive income | — |
| | — |
| | — |
| October 28, 2016 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
| | | | | | | | Six months ended October 27, 2017 | (in millions) | Total Level 3
Investments | | Corporate Debt
Securities | | Auction Rate
Securities | April 28, 2017 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
| Total unrealized gains (losses) included in other comprehensive income | — |
| | — |
| | — |
| October 27, 2017 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
| | | | | | | | Six months ended October 28, 2016 | (in millions) | Total Level 3
Investments | | Corporate Debt
Securities | | Auction Rate
Securities | April 29, 2016 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
| Total unrealized gains (losses) included in other comprehensive income | — |
| | — |
| | — |
| October 28, 2016 | $ | 45 |
| | $ | 1 |
| | $ | 44 |
|
Activity related to the Company’s investment portfolio is as follows:
| | | | | | | | | | | | | | | | | | Three months ended | | October 27, 2017 | | October 28, 2016 | (in millions) | Debt(1) | | Equity(2) | | Debt(1) | | Equity(2) | Proceeds from sales | $ | 1,383 |
| | $ | — |
| | $ | 2,444 |
| | $ | 76 |
| Gross realized gains | 11 |
| | — |
| | 57 |
| | 25 |
| Gross realized losses | (12 | ) | | — |
| | (37 | ) | | — |
| Impairment losses recognized | — |
| | (1 | ) | | — |
| | (7 | ) | | | | | | | | | | Six months ended | | October 27, 2017 | | October 28, 2016 | (in millions) | Debt(1) | | Equity(2) | | Debt(1) | | Equity(2) | Proceeds from sales | $ | 2,354 |
| | $ | — |
| | $ | 3,542 |
| | $ | 82 |
| Gross realized gains | 19 |
| | 7 |
| | 64 |
| | 29 |
| Gross realized losses | (15 | ) | | — |
| | (49 | ) | | — |
| Impairment losses recognized | — |
| | (1 | ) | | — |
| | (10 | ) |
| | (1) | Includes available-for-sale debt securities and debt funds. |
| | (2) | Includes marketable equity securities and cost and equity method investments. |
|
