XML 84 R46.htm IDEA: XBRL DOCUMENT
v3.25.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Apr. 25, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Before Income Taxes, Based on Jurisdiction | The components of income before income taxes, based on tax jurisdiction, are as follows:
| Fiscal Year
(in millions) | 2025 |  | 2024 |  | 2023
U.S. | $ | 1,037 |  |  | $ | 750 |  |  | $ | 1,295 |
International | 4,591 |  |  | 4,087 |  |  | 4,069 |
Income before income taxes | $ | 5,628 |  |  | $ | 4,837 |  |  | $ | 5,364 |
Schedule of Income Tax (Benefit) Provision | The income tax provision consists of the following:
| Fiscal Year
(in millions) | 2025 |  | 2024 |  | 2023
Current tax expense: |  |  |  |  |
U.S. | $ | 583 |  |  | $ | 756 |  |  | $ | 1,303 |
International | 692 |  |  | 905 |  |  | 530 |
Total current tax expense | 1,275 |  |  | 1,661 |  |  | 1,833 |
Deferred tax (benefit) expense: |  |  |  |  |
U.S. | (322) |  |  | (435) |  |  | (336) |
International | (17) |  |  | (93) |  |  | 83 |
Net deferred tax benefit | (339) |  |  | (528) |  |  | (253) |
Income tax provision | $ | 936 |  |  | $ | 1,133 |  |  | $ | 1,580 |
Schedule of Deferred Tax Assets and Liabilities | Tax assets (liabilities), shown before jurisdictional netting of deferred tax assets (liabilities), are comprised of the following:
(in millions) | April 25, 2025 |  | April 26, 2024
Deferred tax assets: |  |  |
Net operating loss, capital loss, and credit carryforwards | $ | 11,252 |  |  | $ | 11,775 |
Intangible assets | 2,800 |  |  | 2,858 |
Capitalization of research and development | 1,420 |  |  | 1,255 |
Other accrued liabilities | 450 |  |  | 404 |
Accrued compensation | 363 |  |  | 374 |
Stock-based compensation | 149 |  |  | 147 |
Inventory | 144 |  |  | 138 |
Deferred revenue | 213 |  |  | 172 |
Lease obligations | 165 |  |  | 157 |
Federal and state benefit on uncertain tax positions | 32 |  |  | 21 |
Interest limitation | 479 |  |  | 608 |
Unrealized gain on available-for-sale securities and derivative financial instruments | 56 |  |  | 13 |
Other | 421 |  |  | 355 |
Gross deferred tax assets | 17,946 |  |  | 18,277 |
Valuation allowance | (12,668) |  |  | (13,271) |
Total deferred tax assets | 5,277 |  | 5,006
Deferred tax liabilities: |  |  |
Intangible assets | (1,238) |  |  | (1,406) |
Realized loss on derivative financial instruments | (67) |  |  | (70) |
Right of use leases | (159) |  |  | (149) |
Accumulated depreciation | (114) |  |  | (110) |
Outside basis difference of subsidiaries | (71) |  |  | (90) |
Pension and post-retirement benefits | (35) |  |  | (45) |
Other | (90) |  |  | (90) |
Total deferred tax liabilities | (1,773) |  |  | (1,960) |
Prepaid income taxes | 719 |  |  | 520 |
Income tax receivables | 464 |  |  | 406 |
Tax assets, net | $ | 4,687 |  |  | $ | 3,972 |
Reported as (after valuation allowance and jurisdictional netting): |  |  |
Other current assets | $ | 1,050 |  |  | $ | 830 |
Tax assets | 4,040 |  |  | 3,657 |
Deferred tax liabilities | (403) |  |  | (515) |
Tax assets, net | $ | 4,687 |  |  | $ | 3,972 |
Schedule of Effective Income Tax Rate Reconciliation | The Company’s effective income tax rate varied from the U.S. federal statutory tax rate as follows:
| Fiscal Year
| 2025 |  | 2024 |  | 2023
U.S. federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Increase (decrease) in tax rate resulting from: |  |  |  |  |
U.S. state taxes, net of federal tax benefit | 0.7 |  |  | 0.2 |  |  | 0.1 |
Research and development credit | (1.8) |  |  | (2.2) |  |  | (1.9) |
Puerto Rico excise tax | — |  |  | — |  |  | (1.0) |
International | (6.5) |  |  | (6.7) |  |  | (8.0) |
Stock based compensation | 0.3 |  |  | 0.3 |  |  | 0.2 |
Uncertain tax positions and interest | 1.4 |  |  | 1.3 |  |  | 1.2 |
Base erosion anti-abuse tax | — |  |  | 0.3 |  |  | — |
Foreign derived intangible income benefit | (1.5) |  |  | (1.7) |  |  | (1.2) |
Certain tax adjustments | 1.1 |  |  | 6.2 |  |  | 17.0 |
U.S. tax on foreign earnings | 1.5 |  |  | 3.5 |  |  | 2.5 |
Other, net | 0.4 |  |  | 1.2 |  |  | (0.4) |
Effective tax rate | 16.6 | % |  | 23.4 | % |  | 29.5 | %
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits for fiscal years 2025, 2024, and 2023 is as follows:
| Fiscal Year
(in millions) | 2025 |  | 2024 |  | 2023
Gross unrecognized tax benefits at beginning of fiscal year | $ | 2,824 |  |  | $ | 2,682 |  |  | $ | 1,661 |
Gross increases: |  |  |  |  |
Prior year tax positions | 13 |  |  | 121 |  |  | 980 |
Current year tax positions | 93 |  |  | 85 |  |  | 89 |
Gross decreases: |  |  |  |  |
Prior year tax positions | (8) |  |  | (2) |  |  | (12) |
Settlements | (5) |  |  | (55) |  |  | (4) |
Statute of limitation lapses | (15) |  |  | (7) |  |  | (32) |
Gross unrecognized tax benefits at end of fiscal year | 2,902 |  |  | 2,824 |  |  | 2,682 |
Cash advance paid to taxing authorities | (934) |  |  | (934) |  |  | (918) |
Gross unrecognized tax benefits at end of fiscal year, net of cash advance | $ | 1,968 |  |  | $ | 1,890 |  |  | $ | 1,764 |
Schedule of Major Tax Jurisdictions Which Remain Subject to Examination | The major tax jurisdictions where the Company conducts business which remain subject to examination are as follows:
Jurisdiction |  | Earliest Year Open
United States - federal and state |  | 2005
Australia |  | 2023
Brazil |  | 2018
Canada |  | 2013
China |  | 2015
Costa Rica |  | 2021
Dominican Republic |  | 2021
France |  | 2022
Germany |  | 2017
India |  | 2002
Ireland |  | 2021
Israel |  | 2010
Italy |  | 2019
Japan |  | 2022
Korea |  | 2022
Luxembourg |  | 2020
Mexico |  | 2019
Puerto Rico |  | 2014
Singapore |  | 2020
Switzerland |  | 2010
United Kingdom |  | 2021

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15 + Details
Name: | us-gaap_SummaryOfIncomeTaxExaminationsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration