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Accumulated Other Comprehensive Income and Supplemental Equity Disclosure
 6 Months Ended
Oct. 26, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Income and Supplemental Equity Disclosure
Accumulated Other Comprehensive Income and Supplemental Equity Disclosure
The following table provides changes in AOCI, net of tax, and by component:
(in millions)
Unrealized (Loss) Gain on Investment Securities
 
Cumulative Translation Adjustment
 
Net Change in Retirement Obligations
 
Unrealized (Loss) Gain on Derivative Financial Instruments
 
Total Accumulated Other Comprehensive (Loss) Income
April 27, 2018
$
(194
)
 
$
(268
)
 
$
(1,117
)
 
$
(207
)
 
$
(1,786
)
Other comprehensive income (loss) before reclassifications
(19
)
 
(1,252
)
 
—

 
343

 
(928
)
Reclassifications
10

 
—

 
48

 
(3
)
 
55

Other comprehensive income (loss)
(9
)
 
(1,252
)
 
48

 
340

 
(873
)
Cumulative effect of change in accounting principle(1)
47

 
—

 
—

 
—

 
47

October 26, 2018
$
(156
)
 
$
(1,520
)
 
$
(1,069
)
 
$
133

 
$
(2,612
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
Unrealized (Loss) Gain on Investment Securities
 
Cumulative Translation Adjustment
 
Net Change in Retirement Obligations
 
Unrealized (Loss) Gain on Derivative Financial Instruments
 
Total Accumulated Other Comprehensive (Loss) Income
April 28, 2017
$
(69
)
 
$
(1,452
)
 
$
(1,129
)
 
$
37

 
$
(2,613
)
Other comprehensive income (loss) before reclassifications
63

 
662

 
(19
)
 
(140
)
 
566

Reclassifications
(8
)
 
(34
)
 
33

 
(4
)
 
(13
)
Other comprehensive income (loss)
55

 
628

 
14

 
(144
)
 
553

October 27, 2017
$
(14
)
 
$
(824
)
 
$
(1,115
)
 
$
(107
)
 
$
(2,060
)

(1)
Refer to Note 2 to the consolidated financial statements for discussion regarding the adoption of accounting standards during the six months ended October 26, 2018.
The income tax on gains and losses on investment securities in other comprehensive income before reclassifications during the six months ended October 26, 2018 and October 27, 2017 was a benefit of $1 million and an expense of $27 million, respectively. During the six months ended October 26, 2018, there was no income tax on realized gains and losses on investment securities reclassified from AOCI. During the six months ended October 27, 2017, realized gains and losses on investment securities reclassified from AOCI were reduced by income taxes of $4 million. When realized, gains and losses on investment securities reclassified from AOCI are recognized within other non-operating income, net. Refer to Note 7 to the consolidated financial statements for additional information.

For the six months ended October 26, 2018, the income tax benefit on cumulative translation adjustments was $5 million. Due to recently enacted U.S. Tax Reform and change in permanently reinvested assertion with respect to certain earnings, the Company continues to evaluate the tax impact these events may have on cumulative translation adjustments. For the six months ended October 27, 2017, taxes were not provided on cumulative translation adjustments as substantially all translation adjustments relate to earnings that were intended to be indefinitely reinvested outside the U.S.

The net change in retirement obligations in other comprehensive income includes net amortization of actuarial losses included in net periodic benefit cost. During the six months ended October 26, 2018, there was no income tax impact on the net change in retirement obligations in other comprehensive income before reclassifications. The income tax on the net change in retirement obligations in other comprehensive income before reclassifications during the six months ended October 27, 2017 was a benefit of $4 million. During the six months ended October 26, 2018 and October 27, 2017, the gains and losses on defined benefit and pension items reclassified from AOCI were reduced by income taxes of $10 million and $15 million, respectively. When realized, net gains and losses on defined benefit and pension items reclassified from AOCI are recognized within other non-operating income, net. Refer to Note 15 to the consolidated financial statements for additional information.

The income tax on unrealized gains and losses on derivative financial instruments in other comprehensive income before reclassifications during the six months ended October 26, 2018 and October 27, 2017 was an expense of $100 million and a benefit of $81 million, respectively. During the six months ended October 26, 2018 and October 27, 2017, gains and losses on derivative financial instruments reclassified from AOCI were reduced by income taxes of $3 million and $4 million, respectively. When realized, cash flow hedge gains and losses reclassified from AOCI are recognized within other operating expense, net, and forward starting interest rate derivative financial instrument gains and losses reclassified from AOCI are recognized within interest expense. Refer to Note 9 to the consolidated financial statements for additional information.

The supplemental equity schedule below presents changes in the Company's total shareholders' equity and noncontrolling interests for the six months ended October 26, 2018 and October 27, 2017.
(in millions)
 
Total Shareholders' Equity
 
Noncontrolling Interests
 
Total Equity
April 27, 2018
 
$
50,720

 
$
102

 
$
50,822

Net income
 
2,190

 
7

 
2,197

Other comprehensive loss
 
(873
)
 
(3
)
 
(876
)
Dividends to shareholders
 
(1,351
)
 
—

 
(1,351
)
Issuance of shares under stock purchase and award plans
 
744

 
—

 
744

Repurchase of ordinary shares
 
(1,991
)
 
—

 
(1,991
)
Stock-based compensation
 
168

 
—

 
168

Changes to noncontrolling ownership interests
 
—

 
1

 
1

October 26, 2018
 
$
49,607

 
$
107

 
$
49,714

 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in millions)
 
Total Shareholders' Equity
 
Noncontrolling Interests
 
Total Equity
April 28, 2017
 
$
50,294

 
$
122

 
$
50,416

Net income (loss)
 
3,033

 
(11
)
 
3,022

Other comprehensive income
 
553

 
—

 
553

Dividends to shareholders
 
(1,247
)
 
—

 
(1,247
)
Issuance of shares under stock purchase and award plans
 
177

 
—

 
177

Repurchase of ordinary shares
 
(1,835
)
 
—

 
(1,835
)
Stock-based compensation
 
198

 
—

 
198

Cumulative effect of change in accounting principle
 
296

 
—

 
296

Changes to noncontrolling ownership interests
 
—

 
(2
)
 
(2
)
October 27, 2017
 
$
51,469

 
$
109

 
$
51,578


Cash dividends declared and paid per ordinary share were $0.50 for each quarter in fiscal year 2019 and $0.46 for each quarter in fiscal year 2018.