Derivatives and Hedging Activities (Tables)

3 Months Ended

Jul. 29, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Value of Outstanding Foreign Currency Exchange Forward Contracts

The notional amount of our outstanding U.S. dollar equivalent foreign currency exchange forward contracts consisted of the following (in millions):

	July 29,  2022		April 29,  2022
Cash Flow Hedges
Forward contracts purchased	$	115	$	78
Balance Sheet Contracts
Forward contracts sold	$	708	$	841
Forward contracts purchased	$	139	$	129

Schedule of Derivative Instruments Not Designated as Hedging Instruments

The effect of derivative instruments not designated as hedging instruments recognized in other income (expense), net on our condensed consolidated statements of income was as follows (in millions):

	Three Months Ended
	July 29,  2022			July 30, 2021
Foreign currency exchange contracts	$	(21	)	$	9