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Income Taxes (Tables)
 12 Months Ended
Apr. 28, 2017
Income Tax Disclosure [Abstract]  
Components of Income from Continuing Operations before Income Taxes, Based on Tax Jurisdiction
The components of income before provision for income taxes, based on tax jurisdiction, are as follows:
 
Fiscal Year
(in millions)
2017
 
2016
 
2015
U.S.
$
(234
)
 
$
333

 
$
639

International
4,836

 
4,003

 
2,847

Income before provision for income taxes
$
4,602

 
$
4,336

 
$
3,486
Provision for Income Taxes
The provision for income taxes consists of the following:
 
Fiscal Year
(in millions)
2017
 
2016
 
2015
Current tax expense:
 

 
 

 
 

U.S.
$
614

 
$
440

 
$
1,128

International
840

 
835

 
502

Total current tax expense
1,454

 
1,275

 
1,630

Deferred tax (benefit) expense:
 

 
 

 
 

U.S.
(399
)
 
(67
)
 
(705
)
International
(477
)
 
(410
)
 
(114
)
Net deferred tax benefit
(876
)
 
(477
)
 
(819
)
Total provision for income taxes
$
578

 
$
798

 
$
811
Schedule of Deferred Tax Assets and Liabilities
Tax assets (liabilities), shown before jurisdictional netting of deferred tax assets (liabilities), are comprised of the following:
(in millions)
April 28, 2017
 
April 29, 2016
Deferred tax assets:
 

 
 

Net operating loss, capital loss, and credit carryforwards
$
6,800

 
$
7,568

Other accrued liabilities
658

 
619

Accrued compensation
427

 
358

Pension and post-retirement benefits
456

 
530

Stock-based compensation
278

 
316

Other
308

 
341

Inventory
277

 
225

Federal and state benefit on uncertain tax positions
191

 
308

Unrealized loss on available-for-sale securities and derivative financial instruments
—

 
107

Gross deferred tax assets
9,395

 
10,372

Valuation allowance
(6,311
)
 
(7,032
)
Total deferred tax assets
3,084

 
3,340

Deferred tax liabilities:
 

 
 

Intangible assets
(4,943
)
 
(5,173
)
Basis impairment
—

 
(230
)
Realized loss on derivative financial instruments
(112
)
 
(112
)
Other
(74
)
 
(179
)
Accumulated depreciation
(149
)
 
(189
)
Unrealized gain on available-for-sale securities and derivative financial instruments
(18
)
 
—

Outside basis difference of subsidiaries
(112
)
 
—

Total deferred tax liabilities
(5,408
)
 
(5,883
)
Prepaid income taxes
475

 
365

Income tax receivables
218

 
529

Tax liabilities, net
$
(1,631
)
 
$
(1,649
)
Reported as (after valuation allowance and jurisdictional netting):
 

 
 

Prepaid expenses and other current assets
$
545

 
$
697

Tax assets
1,509

 
1,383

Deferred tax liabilities
(2,978
)
 
(3,729
)
Noncurrent liabilities held for sale
(707
)
 
—

Tax liabilities, net
$
(1,631
)
 
$
(1,649
)
Schedule of Effective Income Tax Rate Reconciliation
The Company’s effective income tax rate from continuing operations varied from the U.S. federal statutory tax rate as follows:
 
Fiscal Year
 
2017
 
2016
 
2015
U.S. federal statutory tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
Increase (decrease) in tax rate resulting from:
 

 
 

 
 

U.S. state taxes, net of federal tax benefit
1.0

 
0.9

 
0.8

Research and development credit
(0.9
)
 
(1.2
)
 
(0.7
)
Domestic production activities
(0.4
)
 
(0.3
)
 
(0.4
)
International
(27.1
)
 
(23.4
)
 
(24.3
)
Puerto Rico Excise Tax
(1.5
)
 
(1.6
)
 
(1.7
)
Impact of adjustments(1)
5.7

 
11.4

 
13.3

Valuation allowance release
(1.0
)
 
(0.9
)
 
—

Other, net
1.8

 
(1.5
)
 
1.3

Effective tax rate
12.6
 %
 
18.4
 %
 
23.3
 %

(1)
Adjustments include the impact of inventory step-up, impact of product technology upgrade commitment, special charge (gain), net, restructuring charges, net, certain litigation charges, acquisition-related items, amortization of intangible assets, loss on previously held forward starting interest rate swaps, debt tender premium, impact of acquisition on interest expense, and certain tax adjustments, net.
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits for fiscal years 2017, 2016, and 2015 is as follows:
 
Fiscal Year
(in millions)
2017
 
2016
 
2015
Gross unrecognized tax benefits at beginning of fiscal year
$
2,703

 
$
2,860

 
$
1,172

Gross increases:
 

 
 

 
 

Prior year tax positions
147

 
36

 
331

Current year tax positions
75

 
202

 
231

Acquisitions
4

 
—

 
1,199

Gross decreases:
 

 
 

 
 

Prior year tax positions
(538
)
 
(116
)
 
(40
)
Settlements
(467
)
 
(275
)
 
(33
)
Statute of limitation lapses
(28
)
 
(4
)
 
—

Gross unrecognized tax benefits at end of fiscal year
1,896

 
2,703

 
2,860

Cash advance paid in connection with proposed settlements
—

 
(384
)
 
(378
)
Gross unrecognized tax benefits at end of fiscal year, net of cash advance
$
1,896

 
$
2,319

 
$
2,482
Major Tax Jurisdictions Which Remain Subject to Examination
The major tax jurisdictions where the Company conducts business which remain subject to examination are as follows:
Jurisdiction
 
Earliest Year Open
United States - federal and state
 
1997
Brazil
 
2012
Canada
 
2008
China
 
2009
Costa Rica
 
2013
Dominican Republic
 
2013
France
 
2011
Germany
 
2010
India
 
2001
Ireland
 
2011
Israel
 
2010
Italy
 
2005
Japan
 
2010
Luxembourg
 
2012
Mexico
 
2005
Puerto Rico
 
2009
Singapore
 
2011
Switzerland
 
2011
United Kingdom
 
2014