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Accumulated Other Comprehensive Loss
 6 Months Ended
Oct. 28, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table provides changes in accumulated other comprehensive loss (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 $(2,265)
Other comprehensive income (loss) before reclassifications(195)(1,705)1,409 3 634 146 
Reclassifications12 — — 1 (256)(243)
Other comprehensive income (loss)(183)(1,705)1,409 4 378 (97)
October 28, 2022$(392)$(4,304)$2,250 $(769)$852 $(2,361)
(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 reclassifications(41)(599)780 4 237 381 
Reclassifications(3)— — 33 32 62 
Other comprehensive income (loss)(44)(599)780 37 269 443 
October 29, 2021$48 $(1,118)$(678)$(1,310)$16 $(3,042)
The income tax on gains and losses on investment securities in other comprehensive income before reclassifications during the six months ended October 28, 2022 and October 29, 2021 was a benefit of $41 million and $6 million, respectively. During the six months ended
October 28, 2022, realized gains and losses on investment securities reclassified from AOCI were reduced by income taxes of $4 million. During the six months ended October 29, 2021, realized gains and losses on investment securities reclassified from AOCI were reduced by income taxes of $1 million. 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 six months ended October 28, 2022, the income tax on cumulative translation adjustment was a benefit of $3 million. During the six months ended October 29, 2021, there was no income tax on cumulative translation adjustment.
During the six months ended October 28, 2022 and October 29, 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 six months ended October 28, 2022 and October 29, 2021, the net change in retirement obligations in other comprehensive income before reclassifications resulted in income tax expense of $1 million and $2 million, respectively. During both the six months ended October 28, 2022 and October 29, 2021, the gains and losses on defined benefit and pension items reclassified from AOCI were reduced by income taxes of $7 million. 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 six months ended October 28, 2022 and October 29, 2021 was an expense of $141 million and $42 million, respectively. During the six months ended October 28, 2022 and October 29, 2021, gains and losses on cash flow hedges reclassified from AOCI were reduced by income taxes of $59 million and $1 million, respectively. When realized, gains and losses on currency exchange rate contracts reclassified from AOCI are recognized within other operating (income) 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.