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)202520242023
U.S.$1,037 $750 $1,295 
International4,591 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)202520242023
Current tax expense:   
U.S.$583 $756 $1,303 
International692 905 530 
Total current tax expense1,275 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, 2025April 26, 2024
Deferred tax assets:  
Net operating loss, capital loss, and credit carryforwards$11,252 $11,775 
Intangible assets2,800 2,858 
Capitalization of research and development1,420 1,255 
Other accrued liabilities450 404 
Accrued compensation363 374 
Stock-based compensation149 147 
Inventory144 138 
Deferred revenue213 172 
Lease obligations 165 157 
Federal and state benefit on uncertain tax positions32 21 
Interest limitation479 608 
Unrealized gain on available-for-sale securities and derivative financial instruments56 13 
Other421 355 
Gross deferred tax assets17,946 18,277 
Valuation allowance(12,668)(13,271)
Total deferred tax assets5,2775,006
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 taxes719 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 assets4,040 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
 202520242023
U.S. federal statutory tax rate21.0 %21.0 %21.0 %
Increase (decrease) in tax rate resulting from:   
U.S. state taxes, net of federal tax benefit0.7 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 compensation0.3 0.3 0.2 
Uncertain tax positions and interest1.4 1.3 1.2 
Base erosion anti-abuse tax— 0.3 — 
Foreign derived intangible income benefit(1.5)(1.7)(1.2)
Certain tax adjustments1.1 6.2 17.0 
U.S. tax on foreign earnings1.5 3.5 2.5 
Other, net0.4 1.2 (0.4)
Effective tax rate16.6 %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)202520242023
Gross unrecognized tax benefits at beginning of fiscal year$2,824 $2,682 $1,661 
Gross increases:   
Prior year tax positions13 121 980 
Current year tax positions93 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 year2,902 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:
JurisdictionEarliest Year Open
United States - federal and state2005
Australia2023
Brazil2018
Canada2013
China2015
Costa Rica2021
Dominican Republic2021
France2022
Germany2017
India2002
Ireland2021
Israel2010
Italy2019
Japan2022
Korea2022
Luxembourg2020
Mexico2019
Puerto Rico2014
Singapore2020
Switzerland2010
United Kingdom2021