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Accumulated Other Comprehensive Loss
 3 Months Ended
Jul. 29, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table provides changes in AOCI, net of tax, and by component:
(in millions)Unrealized Gain (Loss) on Investment SecuritiesCumulative Translation AdjustmentsNet Investment HedgesNet Change in Retirement ObligationsUnrealized Gain (Loss) on Cash Flow HedgesTotal Accumulated Other Comprehensive (Loss) Income
April 29, 2022$(209)$(2,599)$841 $(773)$474 $(2,265)
Other comprehensive income (loss) before reclassifications(22)(881)1,002 3 312 414 
Reclassifications6 — — (2)(91)(87)
Other comprehensive income (loss)(16)(881)1,002 1 220 326 
July 29, 2022$(225)$(3,480)$1,843 $(772)$694 $(1,939)
(in millions)Unrealized Gain (Loss) on Investment SecuritiesCumulative Translation AdjustmentNet Investment HedgesNet Change in Retirement ObligationsUnrealized Gain (Loss) on Cash Flow HedgesTotal Accumulated Other Comprehensive (Loss) Income
April 30, 2021$92 $(519)$(1,458)$(1,347)$(253)$(3,485)
Other comprehensive income (loss) before reclassifications14 (353)424 1 144 230 
Reclassifications(2)— — 18 30 46 
Other comprehensive income (loss)12 (353)424 19 174 276 
July 30, 2021$104 $(872)$(1,034)$(1,328)$(79)$(3,209)
The income tax on gains and losses on investment securities in other comprehensive income before reclassifications during the three months ended July 29, 2022 and July 30, 2021 was a benefit of $9 million and an expense of $2 million, respectively. During the three months ended July 29, 2022, realized gains and losses on investment securities reclassified from AOCI were reduced by income taxes of $2 million. During the three months ended July 30, 2021, there was no income tax on realized gains and losses on investment securities reclassified from AOCI. When realized, gains and losses on investment securities reclassified from AOCI are recognized within other non-operating income, net. Refer to Note 6 to the consolidated financial statements for additional information.
For the three months ended July 29, 2022, the income tax on cumulative translation adjustment was a benefit of $3 million. During the three months ended July 30, 2021, there was no income tax on cumulative translation adjustment.
During the three months ended July 29, 2022 and July 30, 2021, there were no tax impacts on net investment hedges. Refer to Note 8 to the consolidated financial statements for additional information.
The net change in retirement obligations in other comprehensive income includes amortization of net actuarial losses included in net periodic benefit cost. During the three months ended July 29, 2022 and July 30, 2021, the net change in retirement obligations in other comprehensive income before reclassifications resulted in income tax expense of $1 million. During the three months ended July 29, 2022 and July 30, 2021, the gains and losses on defined benefit and pension items reclassified from AOCI were reduced by income taxes of $6 million and $2 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 14 to the consolidated financial statements for additional information.
The income tax on unrealized gains and losses on cash flow hedges in other comprehensive income before reclassifications during the three months ended July 29, 2022 and July 30, 2021 was an expense of $64 million and $16 million, respectively. During the three months ended July 29, 2022 and July 30, 2021, gains and losses on cash flow hedges reclassified from AOCI included income taxes of $22 million and were reduced by income taxes of $1 million, respectively. When realized, gains and losses on currency exchange rate contracts reclassified from AOCI are recognized within other operating expense, net or cost of products sold, and gains and losses on forward starting interest rate derivatives reclassified from AOCI are recognized within interest expense. Refer to Note 8 to the consolidated financial statements for additional information.