v3.26.1
Income Taxes (Tables)
 12 Months Ended
Apr. 24, 2026
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)2026
Domestic (Ireland)$746 
Foreign5,390 
Income before income taxes$6,136 
The following table presents the required disclosures prior to the Company’s adoption of ASU 2023-09:
 Fiscal Year
(in millions)20252024
Domestic (U.S.)$1,037 $750 
International4,591 4,087 
Income before income taxes$5,628 $4,837 
Schedule of Income Tax (Benefit) Provision
The income tax provision consists of the following:
Fiscal Year
(in millions)2026
Current tax expense:
Domestic (Ireland)$155 
Foreign1,113 
Total current tax expense1,268 
Deferred tax (benefit) expense:
Domestic (Ireland)(123)
Foreign154 
Net deferred tax expense31 
Income tax provision$1,299 
 Fiscal Year
(in millions)20252024
Current tax expense:  
Domestic (U.S.)$583 $756 
International692 905 
Total current tax expense1,275 1,661 
Deferred tax (benefit) expense:
Domestic (U.S.)(322)(435)
International(17)(93)
Net deferred tax benefit(339)(528)
Income tax provision
$936 $1,133 
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 24, 2026April 25, 2025
Deferred tax assets:  
Net operating loss, capital loss, and credit carryforwards$11,076 $11,252 
Intangible assets2,975 2,800 
Capitalization of research and development1,340 1,420 
Other accrued liabilities408 450 
Accrued compensation407 363 
Stock-based compensation152 149 
Inventory148 144 
Deferred revenue121 213 
Lease obligations 184 165 
Federal and state benefit on uncertain tax positions20 32 
Interest limitation250 479 
Unrealized gain on available-for-sale securities and derivative financial instruments80 56 
Other387 421 
Gross deferred tax assets17,548 17,946 
Valuation allowance(12,338)(12,668)
Total deferred tax assets5,2105,277
Deferred tax liabilities:  
Intangible assets(1,125)(1,238)
Realized loss on derivative financial instruments(72)(67)
Right of use leases(178)(159)
Accumulated depreciation(165)(114)
Outside basis difference of subsidiaries(89)(71)
Pension and post-retirement benefits(105)(35)
Other(101)(90)
Total deferred tax liabilities(1,834)(1,773)
Prepaid income taxes701 719 
Income tax receivables 665 464 
Tax assets, net$4,742 $4,687 
Reported as (after valuation allowance and jurisdictional netting):  
Other current assets$1,160 $1,050 
Tax assets3,943 4,040 
Deferred tax liabilities(362)(403)
Tax assets, net$4,742 $4,687 
Schedule of Effective Income Tax Rate Reconciliation
Below is the reconciliation of income taxes from the Ireland statutory rate of 12.5% to the consolidated effective income tax rate and associated dollar impact for fiscal year 2026. In determining the reconciling items, we considered the effect of tax rulings as part of the statutory tax rate.
(in millions)Fiscal Year 2026
Ireland statutory tax rate$767 12.5 %
Effect of cross-border tax laws111 1.8 %
Other
Intercompany transaction(s)(165)(2.7)%
Other rate impacting items29 0.5 %
Foreign tax effects
United States
Statutory tax rate differential105 1.7 %
State and local income taxes82 1.3 %
US tax on foreign earnings46 0.7 %
R&D credit(101)(1.6)%
Intercompany transaction(s)278 4.5 %
Prior year tax resolutions65 1.1 %
Changes in valuation allowances(48)(0.8)%
Other rate impacting items85 1.4 %
Luxembourg
Changes in valuation allowances(263)(4.3)%
Affiliate financing177 2.9 %
Intercompany transaction(s)101 1.6 %
Other rate impacting items1 — %
Puerto Rico
Statutory tax rate differential(80)(1.3)%
Switzerland
Statutory tax rate differential(70)(1.1)%
Cantonal income taxes125 2.0 %
Other rate impacting items23 0.4 %
Other foreign jurisdictions
Statutory tax rate differential92 1.5 %
Other rate impacting items41 0.7 %
Changes in unrecognized tax benefits(102)(1.7)%
Effective tax rate$1,299 21.2 %
The following table presents the required disclosures prior to the Company’s adoption of ASU 2023-09 and reconciles the U.S. federal statutory income tax amount to the actual global effective amount for the fiscal years 2025 and 2024:
 Fiscal Year
(in millions)20252024
U.S. federal statutory tax rate21.0 %21.0 %
Increase (decrease) in tax rate resulting from:
U.S. state taxes, net of federal tax benefit0.7 0.2 
Research and development credit(1.8)(2.2)
International(6.5)(6.7)
Stock based compensation0.3 0.3 
Uncertain tax positions and interest1.4 1.3 
Base erosion anti-abuse tax— 0.3 
Foreign derived intangible income benefit(1.5)(1.7)
Certain tax adjustments1.1 6.2 
U.S. tax on foreign earnings1.5 3.5 
Other, net0.4 1.2 
Effective tax rate16.6 %23.4 %
Schedule of Income Tax Payments, Net of Tax Refunds
Worldwide income tax payments, net of tax refunds, are as follows:
Fiscal Year
(in millions)2026
Ireland$99 
Foreign
United States974 
Switzerland320 
Israel119 
   Other foreign430 
Total income taxes paid$1,942 
Fiscal Year
20252024
Total income taxes paid$1,819 $1,622 
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 2026, 2025, and 2024 is as follows:
 Fiscal Year
(in millions)202620252024
Gross unrecognized tax benefits at beginning of fiscal year$2,902 $2,824 $2,682 
Gross increases:  
Prior year tax positions81 13 121 
Current year tax positions101 93 85 
Gross decreases:  
Prior year tax positions(10)(8)(2)
Settlements(105)(5)(55)
Statute of limitation lapses(17)(15)(7)
Gross unrecognized tax benefits at end of fiscal year2,951 2,902 2,824 
Cash advance paid to taxing authorities(934)(934)(934)
Gross unrecognized tax benefits at end of fiscal year, net of cash advance$2,017 $1,968 $1,890