Comprehensive Income and Accumulated Other Comprehensive Loss

6 Months Ended

Oct. 28, 2011

Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) Disclosure [Abstract]

Comprehensive Income and Accumulated Other Comprehensive Loss

Note 16 – Comprehensive Income and Accumulated Other Comprehensive Loss

In addition to net earnings, comprehensive income includes changes in currency exchange rate translation adjustments, unrealized gains and losses on currency exchange rate derivative contracts and interest rate derivative instruments qualifying and designated as cash flow hedges, net changes in retirement obligation funded status, and unrealized gains and losses on available-for-sale marketable securities. Comprehensive income for the three months ended October 28, 2011 and October 29, 2010 was $799 million and $522 million, respectively.Comprehensive income for the six months ended October 28, 2011 and October 29, 2010 was $1.759 billion and $1.306billion, respectively.

Presented below is a summary of activity for each component of accumulated other comprehensive loss:

(in millions)	Unrealized Gain/(Loss) on Investments		Cumulative Translation Adjustments		Net Change in Retirement Obligations		Unrealized Gain/(Loss) on Derivatives		Accumulated Other Comprehensive Loss
Balance as of April 29, 2011	$	196	$	443	$	(607)	$	(257)	$	(224)
Other comprehensive income		105		14		8		13		139
Balance as of July 29, 2011	$	301	$	457	$	(599)	$	(244)	$	(85)
Other comprehensive (loss)/income		(57)		(97)		15		67		(72)
Balance as of October 28, 2011	$	244	$	360	$	(584)	$	(177)	$	(157)

Translation adjustments are not adjusted for income taxes as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. The tax expense on the net unrealized gainon foreignexchange rate derivatives and interest rate derivative instruments for the three and six months ended October 28, 2011 was $ 42millionand $ 48million, respectively. The tax expense related to the net change in retirement obligations was $6million and $12million for the three and six months ended October 28, 2011. The tax impact on the unrealized gain/(loss) on investments for the three and six months ended October 28, 2011 was $28 millionof benefit and $28 million of expense, respectively.During the first quarter of fiscal year 2012, the Company received shares in the form of a dividend related to a previous cost method investment, and in accordance with authoritative guidance, the Company recorded these shares as an investment and correspondingly recorded an unrealized gain.