MEDTRONIC INC | 2013 | FY | 3

Goodwill and Other Intangible Assets, Net
The changes in the carrying amount of goodwill for fiscal years 2013 and 2012 are as follows:
(in millions)
Cardiac and
Vascular Group
 
Restorative
Therapies Group
 
Total
Balance as of April 29, 2011
$
2,662

 
$
6,858

 
$
9,520

Goodwill as a result of acquisitions
—

 
404

 
404

Purchase accounting adjustments, net
6

 
38

 
44

Currency adjustment, net
(32
)
 
(2
)
 
(34
)
Balance as of April 27, 2012
$
2,636

 
$
7,298

 
$
9,934

Goodwill as a result of acquisitions
—

 
414

 
414

Purchase accounting adjustments, net
—

 
3

 
3

Currency adjustment, net
(12
)
 
(10
)
 
(22
)
Balance as of April 26, 2013
$
2,624

 
$
7,705

 
$
10,329


During fiscal year 2013, the Company recorded $3 million in purchase accounting adjustments, net. These adjustments primarily relate to the fourth quarter finalization of the valuation of inventory, net of tax, for the Kanghui acquisition.
During fiscal year 2012, the Company recorded $44 million in purchase accounting adjustments, net, primarily including adjustments of $29 million and $11 million recorded in the second and fourth quarters, respectively. These adjustments primarily relate to a valuation correction for the calculation of deferred tax assets associated with the net operating losses available to the Company for the fiscal year 2008 acquisition of Kyphon Inc. (Kyphon).
Balances of intangible assets, net, excluding goodwill, for fiscal years 2013 and 2012 are as follows:
(in millions)
Purchased
Technology and
Patents
 
Trademarks
and
Tradenames
 
Acquired
IPR&D
 
Other
 
Total
Amortizable intangible assets as of April 26, 2013
 

 
 

 
 

 
 

 
 

Original cost
$
3,896

 
$
408

 
$
363

 
$
104

 
$
4,771

Accumulated amortization
(1,702
)
 
(320
)
 
—

 
(76
)
 
(2,098
)
Carrying value
$
2,194

 
$
88

 
$
363

 
$
28

 
$
2,673

Weighted average original life (in years)
12.5

 
11.8

 
N/A

 
8.8

 
 

Amortizable intangible assets as of April 27, 2012
 

 
 

 
 

 
 

 
 

Original cost
$
3,604

 
$
373

 
$
370

 
$
148

 
$
4,495

Accumulated amortization
(1,440
)
 
(307
)
 
—

 
(101
)
 
(1,848
)
Carrying value
$
2,164

 
$
66

 
$
370

 
$
47

 
$
2,647

Weighted average original life (in years)
12.6

 
10.3

 
N/A

 
9.6

 
 


Amortization expense for fiscal years 2013, 2012, and 2011 was $331 million, $335 million, and $339 million, respectively.
Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets, excluding any possible future amortization associated with acquired IPR&D, which has not met technological feasibility, is as follows:
(in millions)
Fiscal Year
Amortization
Expense
2014
$
337

2015
321

2016
308

2017
286

2018
271

Thereafter
787

 
$
2,310

us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock