Income Taxes (Tables)

12 Months Ended

Apr. 30, 2014

Income Tax Disclosure [Abstract]

Domestic and Foreign income before Income taxes

The following table, based on the locations of the taxable entities from which sales were derived (rather than the location of customers), presents the U.S. and foreign components of our income before income taxes:

	2012		2013		2014
United States	$	660	$	751	$	797
Foreign	100		114		150
	$	760	$	865	$	947

Deferred tax assets and liabilities

Deferred tax assets and liabilities as of the end of each of the last two years were as follows:

	2013			2014
April 30,
Deferred tax assets:
Postretirement and other benefits	$	136		$	139
Accrued liabilities and other	26			30
Inventories	8			8
Loss and credit carryforwards	39			52
Valuation allowance	(25		)	(34		)
Total deferred tax assets, net	184			195
Deferred tax liabilities:
Intangible assets	(258		)	(184		)
Property, plant, and equipment	(50		)	(49		)
Other	(20		)	(21		)
Total deferred tax liabilities	(328		)	(254		)
Net deferred tax liability	$	(144	)	$	(59	)

Total income tax expense

Our total income tax expense for each of the last three years was as follows:

	2012		2013		2014
Current:
U.S. federal	$	160	$	197	$	243
Foreign	24		41		49
State and local	10		10		1
	194		248		293
Deferred:
U.S. federal	$	48	$	23	$	3
Foreign	—		1		(6		)
State and local	5		2		(2		)
	53		26		(5		)
	$	247	$	274	$	288

Reconciles our effective tax rate to the federal statutory tax rate in the United States

The following table reconciles our effective tax rate to the federal statutory tax rate in the United States:

	Percent of Income Before Taxes
	2012		2013		2014
U.S. federal statutory rate	35.0	%	35.0	%	35.0	%
State taxes, net of U.S. federal tax benefit	1.3	%	1.0	%	0.7	%
Income taxed at other than U.S. federal statutory rate	(1.2	)%	(1.4	)%	(2.2	)%
Tax benefit from U.S. manufacturing	(2.2	)%	(2.1	)%	(2.8	)%
Other, net	(0.4	)%	(0.8	)%	(0.2	)%
Effective rate	32.5	%	31.7	%	30.5	%

Reconciliation of ending and beginning unrecognized tax benefits

A reconciliation of the beginning and ending unrecognized tax benefits follows:

	2012			2013			2014
Unrecognized tax benefits at beginning of year	$	40		$	13		$	11
Additions for tax positions provided in prior periods	—			2			1
Additions for tax positions provided in current period	7			1			1
Decreases for tax positions provided in prior years	(5		)	(1		)	(1		)
Settlements of tax positions in the current period	(27		)	(3		)	(1		)
Lapse of statutes of limitations	(2		)	(1		)	—
Unrecognized tax benefits at end of year	$	13		$	11		$	11