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Comprehensive Income and Accumulated Other Comprehensive Loss

3 Months Ended

Jul. 29, 2011

Comprehensive Income And Aocl [Abstract]

Comprehensive Income and Accumulated Other Comprehensive Loss [Text Block]

Note 16 – Comprehensive Income and Accumulated Other Comprehensive Loss

In addition to net earnings, comprehensive income includes changes in currency exchange rate translation adjustments, unrealized gains and losses on currency exchange rate derivative contracts qualifying and designated as cash flow hedges, net changes in retirement obligation funded status, and unrealized gains and losses on available-for-sale marketable securities. Comprehensive income for the three months ended July 29, 2011 and July 30, 2010 was $960 million and $784 million, respectively.

Presented below is a summary of activity for each component of accumulated other comprehensive loss:

(in millions)	Unrealized Gain/(Loss) on Investments		Cumulative Translation Adjustments		Net Change in Retirement Obligations		Unrealized Gain/(Loss) on Foreign Currency Exchange Rate Derivatives		Accumulated Other Comprehensive Loss
Balance as of April 29, 2011	$	196	$	443	$	(607)	$	(257)	$	(224)
Other comprehensive income		105		14		8		13		139
Balance as of July 29, 2011	$	301	$	457	$	(599)	$	(244)	$	(85)

Translation adjustments are not adjusted for income taxes as substantially all translation adjustments relate to permanent investments in non-U.S. subsidiaries. The tax expense on the unrealized gain on foreign exchange rate derivatives for the three months ended July 29, 2011 was $6 million. The tax expense related to the net change in retirement obligations was $6 million for the three months ended July 29, 2011. The tax expense on the unrealized gain on investments for the three months ended July 29, 2011 was $56 million. During the three months ended July 29, 2011, the Company received shares in the form of a dividend related to a previous cost method investment, and in accordance with authoritative guidance, the Company recorded these shares as an investment and correspondingly recorded an unrealized gain.

- Definition

This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.

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