Other Comprehensive Income

6 Months Ended

Oct. 31, 2022

Statement of Comprehensive Income [Abstract]

The following table shows the components of net other comprehensive income (loss):


	Three Months Ended						Three Months Ended
	October 31, 2021						October 31, 2022
(Dollars in millions)	Pre-Tax		Tax		Net		Pre-Tax		Tax		Net
Currency translation adjustments:
Net gain (loss) on currency translation	$	(9)	$	(3)	$	(12)	$	—	$	(6)	$	(6)
Reclassification to earnings	—		—		—		—		—		—
Other comprehensive income (loss), net	(9)		(3)		(12)		—		(6)		(6)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments	15		(4)		11		22		(4)		18
Reclassification to earnings1	(2)		1		(1)		(15)		3		(12)
Other comprehensive income (loss), net	13		(3)		10		7		(1)		6
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost	(1)		—		(1)		—		—		—
Reclassification to earnings2	7		(2)		5		2		—		2
Other comprehensive income (loss), net	6		(2)		4		2		—		2

Total other comprehensive income (loss), net	$	10	$	(8)	$	2	$	9	$	(7)	$	2


	Six Months Ended						Six Months Ended
	October 31, 2021						October 31, 2022
(Dollars in millions)	Pre-Tax		Tax		Net		Pre-Tax		Tax		Net
Currency translation adjustments:
Net gain (loss) on currency translation	$	(17)	$	(5)	$	(22)	$	(1)	$	(10)	$	(11)
Reclassification to earnings	—		—		—		—		—		—
Other comprehensive income (loss), net	(17)		(5)		(22)		(1)		(10)		(11)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments	30		(7)		23		36		(8)		28
Reclassification to earnings1	1		—		1		(23)		5		(18)
Other comprehensive income (loss), net	31		(7)		24		13		(3)		10
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost	(1)		—		(1)		—		—		—
Reclassification to earnings2	13		(4)		9		5		(1)		4
Other comprehensive income (loss), net	12		(4)		8		5		(1)		4

Total other comprehensive income (loss), net	$	26	$	(16)	$	10	$	17	$	(14)	$	3

1Pre-tax amount for each period is classified as sales in the accompanying condensed consolidated statements of operations.

2Pre-tax amount for each period is classified as non-operating postretirement expense in the accompanying condensed consolidated statements of operations.