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Derivatives and Hedging Activities (Tables)
12 Months Ended
Apr. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Notional Value of Outstanding Foreign Currency Exchange Forward Contracts

The notional amount of our outstanding U.S. dollar equivalent foreign currency exchange forward contracts consisted of the following (in millions):

 

 

 

April 30,

2021

 

 

April 24,

2020

 

Cash Flow Hedges

 

 

 

 

 

 

 

 

Forward contracts purchased

 

$

167

 

 

$

124

 

Balance Sheet Contracts

 

 

 

 

 

 

 

 

Forward contracts sold

 

$

497

 

 

$

254

 

Forward contracts purchased

 

$

117

 

 

$

108

 

Schedule of Derivative Instruments Not Designated as Hedging Instruments

The effect of derivative instruments not designated as hedging instruments recognized in other (expense) income, net on our consolidated statements of income was as follows (in millions):

 

 

 

Year Ended

 

 

 

April 30, 2021

 

 

April 24, 2020

 

 

April 26, 2019

 

 

 

Gain Recognized into Income

 

Foreign currency exchange contracts

 

$

20

 

 

$

 

 

$

15