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Comprehensive Income and Accumulated Other Comprehensive Loss
 9 Months Ended
Jan. 27, 2012
Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss) Disclosure [Abstract]  
Comprehensive Income and Accumulated Other Comprehensive Loss

Note 17 – 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 and interest rate derivative instruments 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 January 27, 2012 and January 28, 2011 was $816 million and $1.096 billion, respectively. Comprehensive income for the nine months ended January 27, 2012 and January 28, 2011 was $2.574 billion and $2.402 billion, 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 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)
Other comprehensive (loss)/income   (57)   (97)   15   67   (72)
Balance as of October 28, 2011 $ 244 $ 360 $ (584) $ (177) $ (157)
Other comprehensive (loss)/income   (150)   (85)   15   101   (119)
Balance as of January 27, 2012 $ 94 $ 275 $ (569) $ (76) $ (276)

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 net unrealized gain on foreign exchange rate derivatives and interest rate derivative instruments for the three and nine months ended January 27, 2012 was $ 59 million and $ 106 million, respectively. The tax expense related to the net change in retirement obligations was $6 million and $18 million for the three and nine months ended January 27, 2012. The tax impact on the unrealized gain/(loss) on investments for the three and nine months ended January 27, 2012 was $89 million and $61 million of benefit, respectively.