Brown-Forman (BF-A) 10-Q 7 Dec 16 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2016	Nov. 30, 2016
Document Information [Line Items]
Entity Registrant Name	BROWN FORMAN CORP
Entity Central Index Key	14,693
Document Type	10-Q
Document Period End Date	Oct. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--04-30
Entity Filer Category	Large Accelerated Filer
Common stock, Class A, voting [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		169,054,545
Common stock, Class B, nonvoting [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		215,717,222

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Income Statement [Abstract]
Sales	$ 1,055	$ 1,096	$ 1,911	$ 1,995
Excise taxes	225	242	420	444
Net Sales	830	854	1,491	1,551
Cost of sales	278	268	486	475
Gross profit	552	586	1,005	1,076
Advertising expenses	107	115	190	209
Selling, general, and administrative expenses	163	171	326	340
Other expense (income), net	(9)	(2)	(15)	(2)
Operating income	291	302	504	529
Interest income	1	0	1	1
Interest expense	16	12	28	22
Income before income taxes	276	290	477	508
Income taxes	79	90	135	152
Net income	$ 197	$ 200	$ 342	$ 356
Earnings per share:
Basic (dollars per share)	$ 0.51	$ 0.49	$ 0.87	$ 0.87
Diluted (dollars per share)	0.50	0.49	0.87	0.86
Cash dividends per common share:
Declared (dollars per share)	0	0	0.34	0.315
Paid (dollars per share)	$ 0.17	$ 0.1575	$ 0.34	$ 0.315

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 197	$ 200	$ 342	$ 356
Other comprehensive income (loss), net of tax:
Currency translation adjustments	(18)	(4)	(85)	(28)
Cash flow hedge adjustments	9	(4)	21	12
Postretirement benefits adjustments	4	6	7	10
Net other comprehensive income (loss)	(5)	(2)	(57)	(6)
Comprehensive income	$ 192	$ 198	$ 285	$ 350

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Oct. 31, 2016	Apr. 30, 2016
Assets
Cash and cash equivalents	$ 211	$ 263
Accounts receivable, less allowance for doubtful accounts of $9 and $9 at April 30 and October 31, respectively	660	559
Inventories:
Barreled whiskey	833	666
Finished goods	235	187
Work in process	121	116
Raw materials and supplies	97	85
Total inventories	1,286	1,054
Other current assets	373	357
Total current assets	2,530	2,233
Property, plant, and equipment, net	651	629
Goodwill	743	590
Other intangible assets	640	595
Deferred tax assets	16	17
Other assets	140	119
Total assets	4,720	4,183
Liabilities
Accounts payable and accrued expenses	554	501
Accrued income taxes	13	19
Short-term borrowings	337	271
Total current liabilities	904	791
Long-term debt	1,917	1,230
Deferred tax liabilities	150	101
Accrued pension and other postretirement benefits	335	353
Other liabilities	131	146
Total liabilities	3,437	2,621
Commitments and contingencies
Stockholders' Equity
Additional paid-in capital	74	114
Retained earnings	4,283	4,065
Accumulated other comprehensive income (loss), net of tax	(407)	(350)
Treasury stock, at cost (59,143,000 and 68,230,000 shares at April 30 and October 31, respectively)	(2,735)	(2,301)
Total stockholders' equity	1,283	1,562
Total liabilities and stockholders' equity	4,720	4,183
Common stock, Class A, voting [Member]
Stockholders' Equity
Common stock	25	13
Common stock, Class B, nonvoting [Member]
Stockholders' Equity
Common stock	$ 43	$ 21

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) shares in Thousands, $ in Millions	Oct. 31, 2016	Apr. 30, 2016
Allowance for doubtful accounts	$ 9	$ 9
Common stock, par value	$ 0.15
Treasury stock, shares	68,230	59,143
Common stock, Class A, voting [Member]
Common stock, par value	$ 0.15	$ 0.15
Common stock, Class B, nonvoting [Member]
Common stock, par value	$ 0.15	$ 0.15

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Cash flows from operating activities:
Net income	$ 342	$ 356
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	28	27
Stock-based compensation expense	7	8
Deferred income taxes	(7)	(8)
Changes in assets and liabilities, excluding the effects of acquisition of business	(201)	(222)
Cash provided by operating activities	169	161
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(307)	0
Additions to property, plant, and equipment	(36)	(65)
Computer software expenditures	(1)	(1)
Cash used for investing activities	(344)	(66)
Cash flows from financing activities:
Net change in short-term borrowings	6	113
Proceeds from long-term debt	717	490
Debt issuance costs	(5)	(5)
Net payments related to exercise of stock-based awards	(5)	(6)
Excess tax benefits from stock-based awards	0	13
Acquisition of treasury stock	(442)	(739)
Dividends paid	(134)	(130)
Cash provided by (used for) financing activities	137	(264)
Effect of exchange rate changes on cash and cash equivalents	(14)	(6)
Net decrease in cash and cash equivalents	(52)	(175)
Cash and cash equivalents, beginning of period	263	370
Cash and cash equivalents, end of period	$ 211	$ 195

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	6 Months Ended
	Oct. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Financial Statements	Condensed Consolidated Financial Statements We prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial information. In accordance with those rules and regulations, we condensed or omitted certain information and disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). We suggest that you read these condensed financial statements together with the financial statements and footnotes included in our annual report on Form 10-K for the fiscal year ended April 30, 2016 (2016 Form 10-K). In our opinion, the accompanying financial statements include all adjustments, consisting only of normal recurring adjustments (unless otherwise indicated), necessary for a fair statement of our financial results for the periods covered by this report. We prepared the accompanying financial statements on a basis that is substantially consistent with the accounting principles applied in our 2016 Form 10-K, but made the following changes during fiscal 2017: • Effective beginning May 1, 2016, we changed our presentation of excise taxes from the gross method (included in sales and costs) to the net method (excluded from sales). As a result, the amounts presented as “net sales” in our financial statements now exclude excise taxes. We believe the change in presentation to the net method is preferable because it is more representative of the internal financial information reviewed by management in assessing our performance and more consistent with the presentation used by our major competitors in their external financial statements. Prior period financial statements have been recast to conform to the new presentation. • We adopted new guidance related to certain aspects of the accounting for stock-based compensation, including the income tax consequences. Under the new guidance, we recognize all tax benefits related to stock-based compensation as an income tax benefit in our statement of operations, and include all income tax cash flows within operating activities in our statement of cash flows. Under the previous accounting guidance, we recognized some of those tax benefits (excess tax benefits) as additional paid-in capital and classified that amount as a financing activity in our statement of cash flows. We adopted these provisions of the new guidance on a prospective basis as of May 1, 2016. As a result, our net income and operating cash flows for the six months ended October 31, 2016, include excess tax benefits of $3 million . Prior period financial statements have not been adjusted. Also, under the new guidance, we recognize the excess tax benefits during the period in which the related awards vest or are exercised. Under the previous accounting guidance, we recognized those benefits during the period in which they reduced taxes payable. We adopted this provision of the new guidance on a modified retrospective basis with a cumulative-effect adjustment of $10 million to retained earnings as of May 1, 2016. Also, as discussed in Note 12, our Class A and Class B common shares were split on a two-for-one basis during August 2016. As a result, all share and per share amounts reported in the accompanying financial statements and related notes are presented on a split-adjusted basis. New accounting pronouncements to be adopted. The Financial Accounting Standards Board (FASB) has issued new accounting guidance on various topics that may impact our financial statements upon our adoption of the new guidance. The following table shows the date by which we must adopt the new guidance for each topic and the permitted method(s) of adoption: Topic Date Method(s) Revenue from contracts with customers May 1, 2018 Retrospective or modified retrospective Classification of certain cash receipts and cash payments on statement of cash flows May 1, 2018 Retrospective Income tax consequences of intra-entity transfers of assets other than inventory May 1, 2018 Modified retrospective Leases May 1, 2019 Modified retrospective Credit losses May 1, 2020 Modified retrospective We are currently evaluating the potential impact of the new guidance on our financial statements. While we have not yet determined our plans for adoption, we do not currently expect to adopt any of the new guidance prior to the required adoption date.

Inventories

Inventories	6 Months Ended
	Oct. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are valued at the lower of cost or market. Some of our consolidated inventories are valued using the last-in, first-out (LIFO) method, which we use for the majority of our U.S. inventories. If the LIFO method had not been used, inventories at current cost would have been $248 million higher than reported as of April 30, 2016 , and $258 million higher than reported as of October 31, 2016 . Changes in the LIFO valuation reserve for interim periods are based on a proportionate allocation of the estimated change for the entire fiscal year.

Income Taxes

Income Taxes	6 Months Ended
	Oct. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our consolidated interim effective tax rate is based upon our expected annual operating income, statutory tax rates, and income tax laws in the various jurisdictions in which we operate. Significant or unusual items, including adjustments to accruals for tax uncertainties, are recognized in the quarter in which the related event occurs. The effective tax rate of 28.4% for the six months ended October 31, 2016 , is based on an expected tax rate of 29.2% on ordinary income for the full fiscal year, as adjusted for the recognition of a net tax benefit related to discrete items arising during the period and interest on previously provided tax contingencies. Our expected tax rate includes current fiscal year additions for existing tax contingency items. As discussed in Note 1, we adopted new accounting guidance for stock-based compensation, including the income tax consequences. As a result, our effective tax rate for the six months ended October 31, 2016, reflects the impact of $3 million of tax benefits related to stock-based compensation that we recognized as a discrete item during the period.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Oct. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We calculate basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share further includes the dilutive effect of stock-based compensation awards. We calculate that dilutive effect using the “treasury stock method” (as defined by GAAP). The following table presents information concerning basic and diluted earnings per share: Three Months Ended Six Months Ended October 31, October 31, (Dollars in millions, except per share amounts) 2015 2016 2015 2016 Net income available to common stockholders $ 200 $ 197 $ 356 $ 342 Share data (in thousands): Basic average common shares outstanding 408,110 389,050 411,116 390,994 Dilutive effect of stock-based awards 2,751 2,798 2,750 2,895 Diluted average common shares outstanding 410,861 391,848 413,866 393,889 Basic earnings per share $ 0.49 $ 0.51 $ 0.87 $ 0.87 Diluted earnings per share $ 0.49 $ 0.50 $ 0.86 $ 0.87 We excluded common stock-based awards for approximately 830,000 shares and 1,937,000 shares from the calculation of diluted earnings per share for the three months ended October 31, 2015 and 2016 , respectively. We excluded common stock-based awards for approximately 1,059,000 shares and 1,555,000 shares from the calculation of diluted earnings per share for the six months ended October 31, 2015 and 2016 , respectively. We excluded those awards because they were not dilutive for those periods under the treasury stock method.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Oct. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We operate in a litigious environment, and we are sued in the normal course of business. Sometimes plaintiffs seek substantial damages. Significant judgment is required in predicting the outcome of these suits and claims, many of which take years to adjudicate. We accrue estimated costs for a contingency when we believe that a loss is probable and we can make a reasonable estimate of the loss, and then adjust the accrual as appropriate to reflect changes in facts and circumstances. We do not believe it is reasonably possible that these existing loss contingencies, individually or in the aggregate, would have a material adverse effect on our financial position, results of operations, or liquidity. No material accrued loss contingencies are recorded as of October 31, 2016 . We have guaranteed the repayment by a third-party importer of its obligation under a bank credit facility that it uses in connection with its importation of our products in Russia. If the importer were to default on that obligation, which we believe is unlikely, our maximum possible exposure under the existing terms of the guaranty would be approximately $22 million (subject to changes in foreign currency exchange rates). Both the fair value and carrying amount of the guaranty are insignificant. As of October 31, 2016 , our actual exposure under the guaranty of the importer’s obligation is approximately $11 million . We also have accounts receivable from that importer of approximately $14 million at October 31, 2016 , which we expect to collect in full. Based on the financial support we provide to the importer, we believe it meets the definition of a variable interest entity. However, because we do not control this entity, it is not included in our consolidated financial statements.

Debt

Debt	6 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt Our long-term debt (net of unamortized discount and issuance costs) consists of: (Principal and carrying amounts in millions) April 30, October 31, 1.00% notes, $250 principal amount, due January 15, 2018 $ 249 $ 249 2.25% notes, $250 principal amount, due January 15, 2023 248 248 1.20% notes, €300 principal amount, due July 7, 2026 — 326 2.60% notes, £300 principal amount, due July 7, 2028 — 360 3.75% notes, $250 principal amount, due January 15, 2043 248 248 4.50% notes, $500 principal amount, due July 15, 2045 485 486 $ 1,230 $ 1,917 We issued senior, unsecured notes with an aggregate principal amount of 300 million euros in July 2016. Interest on these notes will accrue at a rate of 1.20% and be paid annually. As of October 31, 2016, the carrying amount of these notes was $326 million ( $329 million principal, less unamortized discounts and issuance costs). These notes are due on July 7, 2026 . In addition, we issued senior, unsecured notes with an aggregate principal amount of 300 million British pounds in July 2016. Interest on these notes will accrue at a rate of 2.60% and be paid annually. As of October 31, 2016, the carrying amount of these notes was $360 million ( $365 million principal, less unamortized discounts and issuance costs). These notes are due on July 7, 2028 . As of April 30, 2016, our short-term borrowings of $271 million included $269 million of commercial paper, with an average interest rate of 0.53% and a remaining maturity of 26 days . As of October 31, 2016 , our short-term borrowings of $337 million included $335 million of commercial paper, with an average interest rate of 0.60% and a remaining maturity of 10 days .

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Oct. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits The following table shows the components of the pension and other postretirement benefit cost recognized for our U.S. benefit plans. Information about similar international plans is not presented due to immateriality. Three Months Ended Six Months Ended October 31, October 31, (Dollars in millions) 2015 2016 2015 2016 Pension Benefits : Service cost $ 6 $ 6 $ 13 $ 13 Interest cost 9 9 17 18 Expected return on plan assets (10 ) (10 ) (20 ) (21 ) Amortization of net actuarial loss 7 6 14 13 Net cost $ 12 $ 11 $ 24 $ 23 Other Postretirement Benefits : Service cost $ — $ — $ 1 $ 1 Interest cost 1 1 1 1 Amortization of prior service cost (credit) (1 ) (1 ) (1 ) (1 ) Net cost $ — $ — $ 1 $ 1

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Oct. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. We categorize the fair values of assets and liabilities into three levels based upon the assumptions (inputs) used to determine those values. Level 1 provides the most reliable measure of fair value, while Level 3 generally requires significant management judgment. The three levels are: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than those included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in inactive markets; or other inputs that are observable or can be derived from or corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity. The following table summarizes the assets and liabilities measured or disclosed at fair value on a recurring basis: (Dollars in millions) Level 1 Level 2 Level 3 Total April 30, 2016: Assets: Currency derivatives $ — $ 19 $ — $ 19 Liabilities: Currency derivatives — 10 — 10 Short-term borrowings — 271 — 271 Long-term debt — 1,293 — 1,293 October 31, 2016: Assets: Currency derivatives — 50 — 50 Liabilities: Currency derivatives — 6 — 6 Short-term borrowings — 337 — 337 Long-term debt — 2,011 — 2,011 We determine the fair values of our currency derivatives (forward contracts) using standard valuation models. The significant inputs used in these models, which are readily available in public markets or can be derived from observable market transactions, include the applicable exchange rates, forward rates, and discount rates. The discount rates are based on the historical U.S. Treasury rates. The fair value of short-term borrowings approximates their carrying amount. We determine the fair value of long-term debt primarily based on the prices at which similar debt has recently traded in the market and also considering the overall market conditions on the date of valuation. We measure some assets and liabilities at fair value on a nonrecurring basis. That is, we do not measure them at fair value on an ongoing basis, but we do adjust them to fair value in some circumstances (for example, when we determine that an asset is impaired). No material nonrecurring fair value measurements were required during the periods presented in these financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Oct. 31, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of cash, cash equivalents, and short-term borrowings approximate the carrying amounts due to the short maturities of these instruments. We determine the fair value of currency derivatives and long-term debt as discussed in Note 8. Below is a comparison of the fair values and carrying amounts of these instruments: April 30, 2016 October 31, 2016 Carrying Fair Carrying Fair (Dollars in millions) Amount Value Amount Value Assets: Cash and cash equivalents $ 263 $ 263 $ 211 $ 211 Currency derivatives 19 19 50 50 Liabilities: Currency derivatives 10 10 6 6 Short-term borrowings 271 271 337 337 Long-term debt 1,230 1,293 1,917 2,011

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
	Oct. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities Our multinational business exposes us to global market risks, including the effect of fluctuations in currency exchange rates, commodity prices, and interest rates. We use derivatives to help manage financial exposures that occur in the normal course of business. We formally document the purpose of each derivative contract, which includes linking the contract to the financial exposure it is designed to mitigate. We do not hold or issue derivatives for trading or speculative purposes. We use currency derivative contracts to limit our exposure to the currency exchange risk that we cannot mitigate internally by using netting strategies. We designate most of these contracts as cash flow hedges of forecasted transactions (expected to occur within three years). We record all changes in the fair value of cash flow hedges (except any ineffective portion) in accumulated other comprehensive income (AOCI) until the underlying hedged transaction occurs, at which time we reclassify that amount into earnings. We assess the effectiveness of these hedges based on changes in forward exchange rates. The ineffective portion of the changes in fair value of our hedges (recognized immediately in earnings) during the periods presented in this report was not material. We had outstanding currency derivatives, related primarily to our euro, British pound, and Australian dollar exposures, with notional amounts totaling $1,265 million at April 30, 2016 and $1,176 million at October 31, 2016 . During the six months ended October 31, 2016, we used some currency derivative forward contracts and foreign currency-denominated long-term debt as after-tax net investment hedges of our investments in certain foreign subsidiaries. Any change in value of the designated portion of the hedging instruments is recorded in AOCI, offsetting the foreign currency translation adjustment of the related net investments that is also recorded in AOCI. As of October 31, 2016, $515 million of our foreign currency-denominated debt was designated as a net investment hedge. Our net investment hedges are intended to mitigate foreign exchange exposure related to non-U.S. dollar net investments in certain foreign subsidiaries against changes in foreign exchange rates. There was no ineffectiveness related to our net investment hedges during the periods presented in this report. We do not designate some of our currency derivatives and foreign currency-denominated debt as hedges because we use them to at least partially offset the immediate earnings impact of changes in foreign exchange rates on existing assets or liabilities. We immediately recognize the change in fair value of these instruments in earnings. We use forward purchase contracts with suppliers to protect against corn price volatility. We expect to physically take delivery of the corn underlying each contract and use it for production over a reasonable period of time. Accordingly, we account for these contracts as normal purchases rather than derivative instruments. During May 2015, we entered into interest rate derivative contracts (U.S. Treasury lock agreements) to manage the interest rate risk related to the anticipated issuance of fixed-rate senior, unsecured notes. We designated the contracts as cash flow hedges of the future interest payments associated with the anticipated notes. Upon issuance in June 2015 of an aggregate principal amount of $500 million of the 4.50% notes, due July 15, 2045 , we settled the contracts for a gain of $8 million . The entire gain was recorded to AOCI and will be amortized as a reduction of interest expense over the life of the notes. The following tables present the pre-tax impact that changes in the fair value of our derivative instruments and non-derivative hedging instruments had on AOCI and earnings: Three Months Ended October 31, (Dollars in millions) Classification 2015 2016 Derivative Instruments Currency derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a $ 9 $ 23 Net gain (loss) reclassified from AOCI into income Net sales 17 9 Interest rate derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a — — Currency derivatives designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — — Currency derivatives not designated as hedging instruments: Net gain (loss) recognized in income Net sales — 2 Net gain (loss) recognized in income Other income — (3 ) Non-Derivative Hedging Instruments Foreign currency-denominated debt designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — 34 Foreign currency-denominated debt not designated as hedging instrument: Net gain (loss) recognized in income Other income — 3 Six Months Ended October 31, (Dollars in millions) Classification 2015 2016 Derivative Instruments Currency derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a $ 38 $ 52 Net gain (loss) reclassified from AOCI into income Net sales 30 19 Interest rate derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a 8 — Currency derivatives designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — 8 Currency derivatives not designated as hedging instruments: Net gain (loss) recognized in income Net sales 3 3 Net gain (loss) recognized in income Other income 4 (8 ) Non-Derivative Hedging Instruments Foreign currency-denominated debt designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — 24 Foreign currency-denominated debt not designated as hedging instrument: Net gain (loss) recognized in income Other income — 2 We expect to reclassify $27 million of deferred net gains on cash flow hedges recorded in AOCI as of October 31, 2016 , to earnings during the next 12 months. This reclassification would offset the anticipated earnings impact of the underlying hedged exposures. The actual amounts that we ultimately reclassify to earnings will depend on the exchange rates in effect when the underlying hedged transactions occur. As of October 31, 2016 , the maximum term of our outstanding derivative contracts was 36 months . The following table presents the fair values of our derivative instruments: (Dollars in millions) Classification Fair value of derivatives in a gain position Fair value of derivatives in a loss position April 30, 2016: Designated as cash flow hedges: Currency derivatives Other current assets $ 23 $ (2 ) Currency derivatives Other assets 3 (2 ) Currency derivatives Accrued expenses 4 (8 ) Currency derivatives Other liabilities 3 (9 ) Not designated as hedges: Currency derivatives Other current assets 1 (4 ) October 31, 2016: Designated as cash flow hedges: Currency derivatives Other current assets 35 (3 ) Currency derivatives Other assets 24 (5 ) Currency derivatives Accrued expenses 5 (5 ) Currency derivatives Other liabilities — (1 ) Not designated as hedges: Currency derivatives Other current assets 1 (2 ) Currency derivatives Accrued expenses — (5 ) The fair values reflected in the above table are presented on a gross basis. However, as discussed further below, the fair values of those instruments that are subject to net settlement agreements are presented in our balance sheets on a net basis. In our statement of cash flows, we classify cash flows related to cash flow hedges in the same category as the cash flows from the hedged items. Credit risk. We are exposed to credit-related losses if the counterparties to our derivative contracts default. This credit risk is limited to the fair value of the contracts. To manage this risk, we contract only with major financial institutions that have earned investment-grade credit ratings and with whom we have standard International Swaps and Derivatives Association (ISDA) agreements that allow for net settlement of the derivative contracts. Also, we have established counterparty credit guidelines that are regularly monitored and that provide for reports to senior management according to prescribed guidelines, and we monetize contracts when we believe it is warranted. Because of these safeguards, we believe we have no derivative positions that warrant credit valuation adjustments. Some of our derivative instruments require us to maintain a specific level of creditworthiness, which we have maintained. If our creditworthiness were to fall below that level, then the counterparties to our derivative instruments could request immediate payment or collateralization for derivative instruments in net liability positions. The aggregate fair value of all derivatives with creditworthiness requirements that were in a net liability position was $8 million at April 30, 2016 and $6 million at October 31, 2016 . Offsetting. As noted above, our derivative contracts are governed by ISDA agreements that allow for net settlement of derivative contracts with the same counterparty. It is our policy to present the fair values of current derivatives (i.e., those with a remaining term of 12 months or less) with the same counterparty on a net basis in the balance sheet. Similarly, we present the fair values of noncurrent derivatives with the same counterparty on a net basis. Current derivatives are not netted with noncurrent derivatives in the balance sheet. The following table summarizes the gross and net amounts of our derivative contracts: (Dollars in millions) Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in Balance Sheet Net Amounts Presented in Balance Sheet Gross Amounts Not Offset in Balance Sheet Net Amounts April 30, 2016: Derivative assets $ 34 $ (15 ) $ 19 $ (6 ) $ 13 Derivative liabilities (25 ) 15 (10 ) 6 (4 ) October 31, 2016: Derivative assets 65 (15 ) 50 — 50 Derivative liabilities (21 ) 15 (6 ) — (6 ) No cash collateral was received or pledged related to our derivative contracts as of April 30, 2016 and October 31, 2016 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Oct. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure [Text Block]	Goodwill and Other Intangible Assets The following table summarizes the changes in goodwill and other intangible assets during the six months ended October 31, 2016: (Dollars in millions) Goodwill Other Intangible Assets Balance at April 30, 2016 $ 590 $ 595 Acquisitions (Note 14) 182 65 Foreign currency translation adjustment (29 ) (20 ) Balance at October 31, 2016 $ 743 $ 640 Our other intangible assets consist of trademarks and brand names, all with indefinite useful lives.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Oct. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Stockholders’ Equity The following table summarizes the changes in stockholders’ equity during the six months ended October 31, 2016: (Dollars in millions) Class A Common Stock Class B Common Stock Additional Paid-in Capital Retained Earnings AOCI Treasury Stock Total Balance at April 30, 2016 $ 13 $ 21 $ 114 $ 4,065 $ (350 ) $ (2,301 ) $ 1,562 Cumulative effect of change in accounting principle (Note 1) 10 10 Net income 342 342 Net other comprehensive income (loss) (57 ) (57 ) Cash dividends (134 ) (134 ) Acquisition of treasury stock (442 ) (442 ) Stock-based compensation expense 7 7 Stock issued under compensation plans 8 8 Loss on issuance of treasury stock issued under compensation plans (13 ) (13 ) Stock split 12 22 (34 ) — Balance at October 31, 2016 $ 25 $ 43 $ 74 $ 4,283 $ (407 ) $ (2,735 ) $ 1,283 Stock split. On May 26, 2016, our Board of Directors approved a two-for-one stock split for our Class A and Class B common stock, subject to stockholder approval of an amendment to our Restated Certificate of Incorporation. The amendment, which was approved by stockholders on July 28, 2016, increased the number of authorized shares of Class A common stock from 85,000,000 to 170,000,000 . The amendment did not change the number of authorized Class B common shares, which remains at 400,000,000 . The stock split, which was effected as a stock dividend, resulted in the issuance of one new share of Class A common stock for each share of Class A common stock outstanding and one new share of Class B common stock for each share of Class B common stock outstanding. The stock split was also applied to our treasury shares. Thus, the stock split increased the number of Class A shares issued from 85,000,000 to 170,000,000 , and increased the number of Class B shares issued from 142,313,000 to 284,626,000 . The new shares were distributed on August 18, 2016, to shareholders of record as of August 8, 2016. As a result of the stock split, we reclassified approximately $34 million from additional paid-in capital to common stock during the quarter ended July 31, 2016. The $34 million represents the $0.15 par value per share of the new shares issued in the stock split. All share and per share amounts reported in the accompanying financial statements and related notes are presented on a split-adjusted basis. Dividends. The following table summarizes the cash dividends declared per share on our Class A and Class B common stock during the six months ended October 31, 2016: Declaration Date Record Date Payable Date Amount per Share May 26, 2016 June 6, 2016 July 1, 2016 $0.17 July 28, 2016 September 1, 2016 October 3, 2016 $0.17 As announced on November 17, 2016 , our Board of Directors increased the quarterly cash dividend on our Class A and Class B common stock from $0.17 per share to $0.1825 per share. Stockholders of record on December 2, 2016 , will receive the cash dividend on January 3, 2017 . Accumulated Other Comprehensive Income. The following table summarizes the changes in each component of AOCI, net of tax, during the six months ended October 31, 2016: (Dollars in millions) Currency Translation Adjustments Cash Flow Hedge Adjustments Postretirement Benefits Adjustments Total AOCI Balance at April 30, 2016 $ (131 ) $ 11 $ (230 ) $ (350 ) Net other comprehensive income (loss) (85 ) 21 7 (57 ) Balance at October 31, 2016 $ (216 ) $ 32 $ (223 ) $ (407 )

Other Comprehensive Income

Other Comprehensive Income	6 Months Ended
	Oct. 31, 2016
Statement of Comprehensive Income [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Other Comprehensive Income The following tables present the components of net other comprehensive income (loss): Three Months Ended Three Months Ended October 31, 2015 October 31, 2016 (Dollars in millions) Pre-Tax Tax Net Pre-Tax Tax Net Currency translation adjustments: Net gain (loss) on currency translation $ (4 ) $ — $ (4 ) $ (4 ) $ (14 ) $ (18 ) Reclassification to earnings — — — — — — Other comprehensive income (loss), net (4 ) — (4 ) (4 ) (14 ) (18 ) Cash flow hedge adjustments: Net gain (loss) on hedging instruments 9 (3 ) 6 23 (9 ) 14 Reclassification to earnings 1 (17 ) 7 (10 ) (9 ) 4 (5 ) Other comprehensive income (loss), net (8 ) 4 (4 ) 14 (5 ) 9 Postretirement benefits adjustments: Net actuarial gain (loss) and prior service cost — — — — — — Reclassification to earnings 2 9 (3 ) 6 7 (3 ) 4 Other comprehensive income (loss), net 9 (3 ) 6 7 (3 ) 4 Total other comprehensive income (loss), net $ (3 ) $ 1 $ (2 ) $ 17 $ (22 ) $ (5 ) Six Months Ended Six Months Ended October 31, 2015 October 31, 2016 (Dollars in millions) Pre-Tax Tax Net Pre-Tax Tax Net Currency translation adjustments: Net gain (loss) on currency translation (27 ) (1 ) (28 ) (72 ) (13 ) (85 ) Reclassification to earnings — — — — — — Other comprehensive income (loss), net (27 ) (1 ) (28 ) (72 ) (13 ) (85 ) Cash flow hedge adjustments: Net gain (loss) on hedging instruments 46 (15 ) 31 52 (20 ) 32 Reclassification to earnings 1 (30 ) 11 (19 ) (19 ) 8 (11 ) Other comprehensive income (loss), net 16 (4 ) 12 33 (12 ) 21 Postretirement benefits adjustments: Net actuarial gain (loss) and prior service cost — — — — — — Reclassification to earnings 2 16 (6 ) 10 12 (5 ) 7 Other comprehensive income (loss), net 16 (6 ) 10 12 (5 ) 7 Total other comprehensive income (loss), net $ 5 $ (11 ) $ (6 ) $ (27 ) $ (30 ) $ (57 ) 1 Pre-tax amount is classified as net sales in the accompanying consolidated statements of operations. 2 Pre-tax amount is a component of pension and other postretirement benefit expense (as shown in Note 7, except for amounts related to non-U.S. benefit plans, about which no information is presented in Note 7 due to immateriality).

Acquisition of Business

Acquisition of Business	6 Months Ended
	Oct. 31, 2016
Acquisition of Business [Abstract]
Business Combination Disclosure [Text Block]	Acquisition of Business On June 1, 2016, we acquired The BenRiach Distillery Company Limited (BenRiach) for aggregate consideration of $407 million , consisting of a purchase price of $341 million and $66 million in assumed debt and transaction-related obligations that we have since paid. The acquisition, which brought three single malt Scotch whisky brands into our whiskey portfolio, included brand trademarks, inventories, three malt distilleries, a bottling plant, and BenRiach’s headquarters in Edinburgh, Scotland. The purchase price of $341 million included cash of $307 million paid at the acquisition date for 90% of the voting interests in BenRiach and a liability of $34 million related to a put and call option agreement for the remaining 10% equity shares. Under that agreement, we could choose (or be required) to purchase the remaining 10% for 24 million British pounds ( $34 million at the exchange rate on June 1, 2016) during the one-year period ending November 14, 2017. The purchase price of $341 million was preliminarily allocated based on management’s estimates and independent appraisals as follows: (Dollars in millions) June 1, Accounts receivable $ 11 Inventories 159 Other current assets 1 Property, plant, and equipment 19 Goodwill 182 Trademarks and brand names 65 Total assets 437 Accounts payable and accrued expenses 12 Short-term borrowings 59 Deferred tax liabilities 25 Total liabilities 96 Net assets acquired $ 341 Goodwill is calculated as the excess of the purchase price over the fair value of the net identifiable assets acquired. The goodwill resulting from this acquisition is primarily attributable to the following: (a) the value of leveraging our distribution network and brand-building expertise to grow global sales of the existing single malt Scotch whisky brands acquired, (b) the valuable opportunity provided by the combination of the rather scarce identifiable assets to develop new products and line extensions in the especially attractive premium Scotch whisky category, and (c) the accumulated knowledge and expertise of the organized workforce employed by the acquired business. None of the preliminary goodwill amount of $182 million is expected to be deductible for tax purposes. The initial allocation of the purchase price was based on preliminary estimates and may be revised as asset valuations are finalized and further information is obtained on the fair value of liabilities. BenRiach’s results of operations, which have been included in our financial statements since the acquisition date, were not material for the three-month or six-month periods ended October 31, 2016. Pro forma results are not presented due to immateriality. On November 17, 2016, we purchased the remaining 10% interest in BenRiach for cash of 24 million British pounds ( $30 million at the exchange rate on that date) by exercising the call option described above.

Condensed Consolidated Financ21

Condensed Consolidated Financial Statements Condensed Consolidated Financial Statements (Policies)	6 Months Ended
	Oct. 31, 2016
Accounting Policies [Abstract]
Excise Taxes [Policy Text Block]	Effective beginning May 1, 2016, we changed our presentation of excise taxes from the gross method (included in sales and costs) to the net method (excluded from sales). As a result, the amounts presented as “net sales” in our financial statements now exclude excise taxes. We believe the change in presentation to the net method is preferable because it is more representative of the internal financial information reviewed by management in assessing our performance and more consistent with the presentation used by our major competitors in their external financial statements. Prior period financial statements have been recast to conform to the new presentation.

Derivative Financial Instrume22

Derivative Financial Instruments and Hedging Activities (Policies)	6 Months Ended
	Oct. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Classification of Cash Flows Related to Cash Flow Hedges [Policy Text Block]	In our statement of cash flows, we classify cash flows related to cash flow hedges in the same category as the cash flows from the hedged items.
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block]	Offsetting. As noted above, our derivative contracts are governed by ISDA agreements that allow for net settlement of derivative contracts with the same counterparty. It is our policy to present the fair values of current derivatives (i.e., those with a remaining term of 12 months or less) with the same counterparty on a net basis in the balance sheet. Similarly, we present the fair values of noncurrent derivatives with the same counterparty on a net basis. Current derivatives are not netted with noncurrent derivatives in the balance sheet

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Oct. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table presents information concerning basic and diluted earnings per share: Three Months Ended Six Months Ended October 31, October 31, (Dollars in millions, except per share amounts) 2015 2016 2015 2016 Net income available to common stockholders $ 200 $ 197 $ 356 $ 342 Share data (in thousands): Basic average common shares outstanding 408,110 389,050 411,116 390,994 Dilutive effect of stock-based awards 2,751 2,798 2,750 2,895 Diluted average common shares outstanding 410,861 391,848 413,866 393,889 Basic earnings per share $ 0.49 $ 0.51 $ 0.87 $ 0.87 Diluted earnings per share $ 0.49 $ 0.50 $ 0.86 $ 0.87

Debt (Tables)

Debt (Tables)	6 Months Ended
	Oct. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Our long-term debt (net of unamortized discount and issuance costs) consists of: (Principal and carrying amounts in millions) April 30, October 31, 1.00% notes, $250 principal amount, due January 15, 2018 $ 249 $ 249 2.25% notes, $250 principal amount, due January 15, 2023 248 248 1.20% notes, €300 principal amount, due July 7, 2026 — 326 2.60% notes, £300 principal amount, due July 7, 2028 — 360 3.75% notes, $250 principal amount, due January 15, 2043 248 248 4.50% notes, $500 principal amount, due July 15, 2045 485 486 $ 1,230 $ 1,917

Pension and Other Postretirem25

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Oct. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	The following table shows the components of the pension and other postretirement benefit cost recognized for our U.S. benefit plans. Information about similar international plans is not presented due to immateriality. Three Months Ended Six Months Ended October 31, October 31, (Dollars in millions) 2015 2016 2015 2016 Pension Benefits : Service cost $ 6 $ 6 $ 13 $ 13 Interest cost 9 9 17 18 Expected return on plan assets (10 ) (10 ) (20 ) (21 ) Amortization of net actuarial loss 7 6 14 13 Net cost $ 12 $ 11 $ 24 $ 23 Other Postretirement Benefits : Service cost $ — $ — $ 1 $ 1 Interest cost 1 1 1 1 Amortization of prior service cost (credit) (1 ) (1 ) (1 ) (1 ) Net cost $ — $ — $ 1 $ 1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Oct. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table summarizes the assets and liabilities measured or disclosed at fair value on a recurring basis: (Dollars in millions) Level 1 Level 2 Level 3 Total April 30, 2016: Assets: Currency derivatives $ — $ 19 $ — $ 19 Liabilities: Currency derivatives — 10 — 10 Short-term borrowings — 271 — 271 Long-term debt — 1,293 — 1,293 October 31, 2016: Assets: Currency derivatives — 50 — 50 Liabilities: Currency derivatives — 6 — 6 Short-term borrowings — 337 — 337 Long-term debt — 2,011 — 2,011

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Oct. 31, 2016
Fair Value of Financial Instruments [Abstract]
Comparison of the fair values and carrying amounts of financial instrument	The fair value of cash, cash equivalents, and short-term borrowings approximate the carrying amounts due to the short maturities of these instruments. We determine the fair value of currency derivatives and long-term debt as discussed in Note 8. Below is a comparison of the fair values and carrying amounts of these instruments: April 30, 2016 October 31, 2016 Carrying Fair Carrying Fair (Dollars in millions) Amount Value Amount Value Assets: Cash and cash equivalents $ 263 $ 263 $ 211 $ 211 Currency derivatives 19 19 50 50 Liabilities: Currency derivatives 10 10 6 6 Short-term borrowings 271 271 337 337 Long-term debt 1,230 1,293 1,917 2,011

Derivative Financial Instrume28

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Oct. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss) [Table Text Block]	The following tables present the pre-tax impact that changes in the fair value of our derivative instruments and non-derivative hedging instruments had on AOCI and earnings: Three Months Ended October 31, (Dollars in millions) Classification 2015 2016 Derivative Instruments Currency derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a $ 9 $ 23 Net gain (loss) reclassified from AOCI into income Net sales 17 9 Interest rate derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a — — Currency derivatives designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — — Currency derivatives not designated as hedging instruments: Net gain (loss) recognized in income Net sales — 2 Net gain (loss) recognized in income Other income — (3 ) Non-Derivative Hedging Instruments Foreign currency-denominated debt designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — 34 Foreign currency-denominated debt not designated as hedging instrument: Net gain (loss) recognized in income Other income — 3 Six Months Ended October 31, (Dollars in millions) Classification 2015 2016 Derivative Instruments Currency derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a $ 38 $ 52 Net gain (loss) reclassified from AOCI into income Net sales 30 19 Interest rate derivatives designated as cash flow hedges: Net gain (loss) recognized in AOCI n/a 8 — Currency derivatives designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — 8 Currency derivatives not designated as hedging instruments: Net gain (loss) recognized in income Net sales 3 3 Net gain (loss) recognized in income Other income 4 (8 ) Non-Derivative Hedging Instruments Foreign currency-denominated debt designated as net investment hedge: Net gain (loss) recognized in AOCI n/a — 24 Foreign currency-denominated debt not designated as hedging instrument: Net gain (loss) recognized in income Other income — 2
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The following table presents the fair values of our derivative instruments: (Dollars in millions) Classification Fair value of derivatives in a gain position Fair value of derivatives in a loss position April 30, 2016: Designated as cash flow hedges: Currency derivatives Other current assets $ 23 $ (2 ) Currency derivatives Other assets 3 (2 ) Currency derivatives Accrued expenses 4 (8 ) Currency derivatives Other liabilities 3 (9 ) Not designated as hedges: Currency derivatives Other current assets 1 (4 ) October 31, 2016: Designated as cash flow hedges: Currency derivatives Other current assets 35 (3 ) Currency derivatives Other assets 24 (5 ) Currency derivatives Accrued expenses 5 (5 ) Currency derivatives Other liabilities — (1 ) Not designated as hedges: Currency derivatives Other current assets 1 (2 ) Currency derivatives Accrued expenses — (5 )
Offsetting Derivative Assets and Liabilities [Table Text Block]	The following table summarizes the gross and net amounts of our derivative contracts: (Dollars in millions) Gross Amounts of Recognized Assets (Liabilities) Gross Amounts Offset in Balance Sheet Net Amounts Presented in Balance Sheet Gross Amounts Not Offset in Balance Sheet Net Amounts April 30, 2016: Derivative assets $ 34 $ (15 ) $ 19 $ (6 ) $ 13 Derivative liabilities (25 ) 15 (10 ) 6 (4 ) October 31, 2016: Derivative assets 65 (15 ) 50 — 50 Derivative liabilities (21 ) 15 (6 ) — (6 )

Goodwill and Other Intangible29

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Oct. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill [Table Text Block]	The following table summarizes the changes in goodwill and other intangible assets during the six months ended October 31, 2016: (Dollars in millions) Goodwill Other Intangible Assets Balance at April 30, 2016 $ 590 $ 595 Acquisitions (Note 14) 182 65 Foreign currency translation adjustment (29 ) (20 ) Balance at October 31, 2016 $ 743 $ 640

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Oct. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Schedule of Stockholders Equity [Table Text Block]	The following table summarizes the changes in stockholders’ equity during the six months ended October 31, 2016: (Dollars in millions) Class A Common Stock Class B Common Stock Additional Paid-in Capital Retained Earnings AOCI Treasury Stock Total Balance at April 30, 2016 $ 13 $ 21 $ 114 $ 4,065 $ (350 ) $ (2,301 ) $ 1,562 Cumulative effect of change in accounting principle (Note 1) 10 10 Net income 342 342 Net other comprehensive income (loss) (57 ) (57 ) Cash dividends (134 ) (134 ) Acquisition of treasury stock (442 ) (442 ) Stock-based compensation expense 7 7 Stock issued under compensation plans 8 8 Loss on issuance of treasury stock issued under compensation plans (13 ) (13 ) Stock split 12 22 (34 ) — Balance at October 31, 2016 $ 25 $ 43 $ 74 $ 4,283 $ (407 ) $ (2,735 ) $ 1,283
Dividends Declared [Table Text Block]	The following table summarizes the cash dividends declared per share on our Class A and Class B common stock during the six months ended October 31, 2016: Declaration Date Record Date Payable Date Amount per Share May 26, 2016 June 6, 2016 July 1, 2016 $0.17 July 28, 2016 September 1, 2016 October 3, 2016 $0.17
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table summarizes the changes in each component of AOCI, net of tax, during the six months ended October 31, 2016: (Dollars in millions) Currency Translation Adjustments Cash Flow Hedge Adjustments Postretirement Benefits Adjustments Total AOCI Balance at April 30, 2016 $ (131 ) $ 11 $ (230 ) $ (350 ) Net other comprehensive income (loss) (85 ) 21 7 (57 ) Balance at October 31, 2016 $ (216 ) $ 32 $ (223 ) $ (407 )

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	6 Months Ended
	Oct. 31, 2016
Statement of Comprehensive Income [Abstract]
Comprehensive Income (Loss) [Table Text Block]	The following tables present the components of net other comprehensive income (loss): Three Months Ended Three Months Ended October 31, 2015 October 31, 2016 (Dollars in millions) Pre-Tax Tax Net Pre-Tax Tax Net Currency translation adjustments: Net gain (loss) on currency translation $ (4 ) $ — $ (4 ) $ (4 ) $ (14 ) $ (18 ) Reclassification to earnings — — — — — — Other comprehensive income (loss), net (4 ) — (4 ) (4 ) (14 ) (18 ) Cash flow hedge adjustments: Net gain (loss) on hedging instruments 9 (3 ) 6 23 (9 ) 14 Reclassification to earnings 1 (17 ) 7 (10 ) (9 ) 4 (5 ) Other comprehensive income (loss), net (8 ) 4 (4 ) 14 (5 ) 9 Postretirement benefits adjustments: Net actuarial gain (loss) and prior service cost — — — — — — Reclassification to earnings 2 9 (3 ) 6 7 (3 ) 4 Other comprehensive income (loss), net 9 (3 ) 6 7 (3 ) 4 Total other comprehensive income (loss), net $ (3 ) $ 1 $ (2 ) $ 17 $ (22 ) $ (5 ) Six Months Ended Six Months Ended October 31, 2015 October 31, 2016 (Dollars in millions) Pre-Tax Tax Net Pre-Tax Tax Net Currency translation adjustments: Net gain (loss) on currency translation (27 ) (1 ) (28 ) (72 ) (13 ) (85 ) Reclassification to earnings — — — — — — Other comprehensive income (loss), net (27 ) (1 ) (28 ) (72 ) (13 ) (85 ) Cash flow hedge adjustments: Net gain (loss) on hedging instruments 46 (15 ) 31 52 (20 ) 32 Reclassification to earnings 1 (30 ) 11 (19 ) (19 ) 8 (11 ) Other comprehensive income (loss), net 16 (4 ) 12 33 (12 ) 21 Postretirement benefits adjustments: Net actuarial gain (loss) and prior service cost — — — — — — Reclassification to earnings 2 16 (6 ) 10 12 (5 ) 7 Other comprehensive income (loss), net 16 (6 ) 10 12 (5 ) 7 Total other comprehensive income (loss), net $ 5 $ (11 ) $ (6 ) $ (27 ) $ (30 ) $ (57 ) 1 Pre-tax amount is classified as net sales in the accompanying consolidated statements of operations. 2 Pre-tax amount is a component of pension and other postretirement benefit expense (as shown in Note 7, except for amounts related to non-U.S. benefit plans, about which no information is presented in Note 7 due to immateriality).

Acquisition of Business (Tables

Acquisition of Business (Tables)	6 Months Ended
	Oct. 31, 2016
Acquisition of Business [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The purchase price of $341 million was preliminarily allocated based on management’s estimates and independent appraisals as follows: (Dollars in millions) June 1, Accounts receivable $ 11 Inventories 159 Other current assets 1 Property, plant, and equipment 19 Goodwill 182 Trademarks and brand names 65 Total assets 437 Accounts payable and accrued expenses 12 Short-term borrowings 59 Deferred tax liabilities 25 Total liabilities 96 Net assets acquired $ 341

Condensed Consolidated Financ33

Condensed Consolidated Financial Statements (Details) - USD ($) $ in Millions	6 Months Ended
	Oct. 31, 2016	May 01, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess Tax Benefits from Stock Based Compensation	$ 3
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 10
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 10

Condensed Consolidated Financ34

Condensed Consolidated Financial Statements (Details 1)	Aug. 18, 2016
Stock split [Abstract]
Stockholders' Equity Note, Stock Split, Conversion Ratio	2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Oct. 31, 2016	Apr. 30, 2016
Inventories (Textual) [Abstract]
Excess of current costs over stated LIFO value	$ 258	$ 248

Income Taxes (Details)

Income Taxes (Details) $ in Millions	6 Months Ended
	Oct. 31, 2016USD ($)
Income Taxes (Textual) [Abstract]
Effective tax rate	28.40%
Expected tax rate	29.20%
Excess Tax Benefits from Stock Based Compensation	$ 3

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Basic and diluted earnings per share
Net income available to common stockholders	$ 197	$ 200	$ 342	$ 356
Share data (in thousands):
Basic average common shares outstanding	389,050	408,110	390,994	411,116
Dilutive effect of stock-based awards	2,798	2,751	2,895	2,750
Diluted average common shares outstanding	391,848	410,861	393,889	413,866
Basic earnings per share (dollars per share)	$ 0.51	$ 0.49	$ 0.87	$ 0.87
Diluted earnings per share (dollars per share)	$ 0.50	$ 0.49	$ 0.87	$ 0.86

Earnings Per Share (Details Tex

Earnings Per Share (Details Textual) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Earnings Per Share (Textual) [Abstract]
Common stock-based awards excluded from the calculation of diluted earnings per share	1,937	830	1,555	1,059

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Oct. 31, 2016	Apr. 30, 2016
Concentration Risk [Line Items]
Accounts receivable	$ 660	$ 559
Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Guaranty exposure, maximum	22
Guaranty exposure, current	11
Accounts receivable	$ 14

Debt (Details)

Debt (Details) € in Millions, £ in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Oct. 31, 2016EUR (€)	Apr. 30, 2016EUR (€)	Oct. 31, 2016GBP (£)	Oct. 31, 2016USD ($)	Apr. 30, 2016GBP (£)	Apr. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt				$ 1,917		$ 1,230
1.00% notes, due January 15, 2018 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 250		$ 250
Debt Instrument, Maturity Date	Jan. 15, 2018	Jan. 15, 2018
Debt Instrument, Interest Rate, Stated Percentage	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Long-term debt, including current portion				$ 249		$ 249
2.25% notes, due January 15, 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 250		$ 250
Debt Instrument, Maturity Date	Jan. 15, 2023	Jan. 15, 2023
Debt Instrument, Interest Rate, Stated Percentage	2.25%	2.25%	2.25%	2.25%	2.25%	2.25%
Long-term debt, including current portion				$ 248		$ 248
1.20% notes, due July 7, 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	€ 300	€ 0		$ 329
Debt Instrument, Maturity Date	Jul. 7, 2026	Jul. 7, 2026
Debt Instrument, Interest Rate, Stated Percentage	1.20%	1.20%	1.20%	1.20%	1.20%	1.20%
Long-term debt, including current portion				$ 326		$ 0
2.60% notes, due July 7, 2028 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			£ 300	$ 365	£ 0
Debt Instrument, Maturity Date	Jul. 7, 2028	Jul. 7, 2028
Debt Instrument, Interest Rate, Stated Percentage	2.60%	2.60%	2.60%	2.60%	2.60%	2.60%
Long-term debt, including current portion				$ 360		$ 0
3.75% notes, due January 15, 2043 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 250		$ 250
Debt Instrument, Maturity Date	Jan. 15, 2043	Jan. 15, 2043
Debt Instrument, Interest Rate, Stated Percentage	3.75%	3.75%	3.75%	3.75%	3.75%	3.75%
Long-term debt, including current portion				$ 248		$ 248
4.50% notes, due July 15, 2045 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount				$ 500		$ 500	$ 500
Debt Instrument, Maturity Date	Jul. 15, 2045	Jul. 15, 2045
Debt Instrument, Interest Rate, Stated Percentage	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%	4.50%
Long-term debt, including current portion				$ 486		$ 485

Debt (Details Textual)

Debt (Details Textual) € in Millions, £ in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Oct. 31, 2016EUR (€)	Apr. 30, 2016EUR (€)	Oct. 31, 2016GBP (£)	Oct. 31, 2016USD ($)	Apr. 30, 2016GBP (£)	Apr. 30, 2016USD ($)
1.20% notes, due July 7, 2026 [Member]
Debt Issuances and Repayments [Abstract]
Debt Instrument, Face Amount	€ 300	€ 0		$ 329
Debt Instrument, Interest Rate, Stated Percentage	1.20%	1.20%	1.20%	1.20%	1.20%	1.20%
Debt Instrument, Maturity Date	Jul. 7, 2026	Jul. 7, 2026
Long-term Debt				$ 326		$ 0
2.60% notes, due July 7, 2028 [Member]
Debt Issuances and Repayments [Abstract]
Debt Instrument, Face Amount			£ 300	$ 365	£ 0
Debt Instrument, Interest Rate, Stated Percentage	2.60%	2.60%	2.60%	2.60%	2.60%	2.60%
Debt Instrument, Maturity Date	Jul. 7, 2028	Jul. 7, 2028
Long-term Debt				$ 360		$ 0

Debt (Details Textual 2)

Debt (Details Textual 2) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Oct. 31, 2016	Apr. 30, 2016
Short-term Debt [Abstract]
Short-term borrowings	$ 337	$ 271
Commercial Paper	$ 335	$ 269
Commercial Paper Borrowings, Weighted Average Interest Rate	0.60%	0.53%
Commercial Paper Borrowings, Average Remaining Maturity	10 days	26 days

Pension and Other Postretirem43

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 6	$ 6	$ 13	$ 13
Interest cost	9	9	18	17
Expected return on plan assets	(10)	(10)	(21)	(20)
Amortization of:
Net actuarial loss	6	7	13	14
Net cost	11	12	23	24
Other Postretirement Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	0	1	1
Interest cost	1	1	1	1
Amortization of:
Prior service cost	(1)	(1)	(1)	(1)
Net cost	$ 0	$ 0	$ 1	$ 1

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Oct. 31, 2016	Apr. 30, 2016
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Short-term borrowings	$ 337	$ 271
Long-term debt	2,011	1,293
Currency derivatives [Member]
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Currency derivatives	6	10
Fair Value, Measurements, Recurring [Member]
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Short-term borrowings	337	271
Long-term debt	2,011	1,293
Fair Value, Measurements, Recurring [Member] | Currency derivatives [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Currency derivatives	50	19
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Currency derivatives	6	10
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Short-term borrowings	0	0
Long-term debt	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Currency derivatives [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Currency derivatives	0	0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Currency derivatives	0	0
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Short-term borrowings	337	271
Long-term debt	2,011	1,293
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Currency derivatives [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Currency derivatives	50	19
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Currency derivatives	6	10
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Short-term borrowings	0	0
Long-term debt	0	0
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Currency derivatives [Member]
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]
Currency derivatives	0	0
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]
Currency derivatives	$ 0	$ 0

Fair Value of Financial Instr45

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015	Apr. 30, 2015
Assets:
Cash and cash equivalents, Carrying Amount	$ 211	$ 263	$ 195	$ 370
Cash and cash equivalents, Fair Value	211	263
Liabilities:
Short-term borrowings, Carrying Amount	337	271
Short-term borrowings, Fair Value	337	271
Long-term debt, Carrying Amount	1,917	1,230
Long-term debt, Fair Value	2,011	1,293
Currency derivatives [Member]
Assets:
Currency derivatives, Fair Value	50	19
Liabilities:
Currency derivatives, Fair Value	6	10
Reported Value Measurement [Member]
Assets:
Cash and cash equivalents, Carrying Amount	211	263
Liabilities:
Short-term borrowings, Carrying Amount	337	271
Long-term debt, Carrying Amount	1,917	1,230
Reported Value Measurement [Member] | Currency derivatives [Member]
Assets:
Currency derivatives, Carrying Amount	50	19
Liabilities:
Currency derivatives, Carrying Amount	$ 6	$ 10

Derivative Financial Instrume46

Derivative Financial Instruments and Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Currency derivatives [Member]
Derivative Instruments [Abstract]
Net gain (loss) recognized in AOCI	$ 23	$ 9	$ 52	$ 38
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Treasury Lock [Member]
Derivative Instruments [Abstract]
Net gain (loss) recognized in AOCI	0	0	0	8
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member] | Currency derivatives [Member]
Derivative Instruments [Abstract]
Net gain (loss) recognized in AOCI	0	0	8	0
Net Sales [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Currency derivatives [Member]
Derivative Instruments [Abstract]
Net gain (loss) reclassified from AOCI into income	9	17	19	30
Net Sales [Member] | Not Designated as Hedging Instrument [Member] | Currency derivatives [Member]
Derivative Instruments [Abstract]
Gain (loss) on derivative instruments recognized in income	2	0	3	3
Other Income [Member] | Not Designated as Hedging Instrument [Member] | Currency derivatives [Member]
Derivative Instruments [Abstract]
Gain (loss) on derivative instruments recognized in income	(3)	0	(8)	4
Foreign Currency Denominated Debt [Member] | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]
Non-Derivative Hedging Instruments [Abstract]
Net gain (loss) recognized in AOCI	34	0	24	0
Foreign Currency Denominated Debt [Member] | Other Income [Member] | Not Designated as Hedging Instrument [Member]
Non-Derivative Hedging Instruments [Abstract]
Net gain (loss) recognized in income	$ 3	$ 0	$ 2	$ 0

Derivative Financial Instrume47

Derivative Financial Instruments and Hedging Activities (Details 1) - Currency derivatives [Member] - USD ($) $ in Millions	Oct. 31, 2016	Apr. 30, 2016
Fair value of derivatives in a gain position [Member] | Not designated as hedges [Member] | Other Current Assets [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	$ 1	$ 1
Fair value of derivatives in a gain position [Member] | Not designated as hedges [Member] | Accrued Expenses [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	0
Fair value of derivatives in a gain position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Current Assets [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	35	23
Fair value of derivatives in a gain position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Assets [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	24	3
Fair value of derivatives in a gain position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accrued Expenses [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	5	4
Fair value of derivatives in a gain position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Liabilities [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	0	3
Fair value of derivatives in a loss position [Member] | Not designated as hedges [Member] | Other Current Assets [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	(2)	(4)
Fair value of derivatives in a loss position [Member] | Not designated as hedges [Member] | Accrued Expenses [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	(5)
Fair value of derivatives in a loss position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Current Assets [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	(3)	(2)
Fair value of derivatives in a loss position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Assets [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	(5)	(2)
Fair value of derivatives in a loss position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accrued Expenses [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	(5)	(8)
Fair value of derivatives in a loss position [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Liabilities [Member]
Fair values of derivative instruments
Fair value of derivatives in a gain (loss) position	$ (1)	$ (9)

Derivative Financial Instrume48

Derivative Financial Instruments and Hedging Activities (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Apr. 30, 2016	Jun. 30, 2015
Derivative Financial Instruments (Textual) [Abstract]
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 27		$ 27
Maximum term of outstanding derivative contracts			36 months
Aggregate fair value of derivatives with creditworthiness requirements that were in a net liability position	6		$ 6		$ 8
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Debt Instrument, Face Amount	515		515
Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	1,176		1,176		1,265
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	0	$ 0	8	$ 0
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	23	9	52	38
Treasury Lock [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	0	$ 0	0	$ 8
4.50% notes, due July 15, 2045 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Debt Instrument, Face Amount	$ 500		$ 500		$ 500	$ 500
Debt Instrument, Interest Rate, Stated Percentage	4.50%		4.50%		4.50%	4.50%
Debt Instrument, Maturity Date			Jul. 15, 2045		Jul. 15, 2045

Derivative Financial Instrume49

Derivative Financial Instruments and Hedging Activities Offsetting Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Oct. 31, 2016	Apr. 30, 2016
Offsetting Assets and Liabilities [Line Items]
Gross Amount of Derivative Assets	$ 65	$ 34
Gross Amount of Derivative Liabilities Offset Against Derivative Assets in Balance Sheet	(15)	(15)
Net Amount of Derivative Assets Presented in Balance Sheet	50	19
Gross Amount of Derivative Liabilities Not Offset Against Derivative Assets in Balance Sheet	0	(6)
Net Amount of Derivative Assets	50	13
Gross Amount of Derivative Liabilities	(21)	(25)
Gross Amount of Derivative Assets Offset Against Derivative Liabilities in Balance Sheet	15	15
Net Amount of Derivative Liabilities Presented in Balance Sheet	6	10
Gross Amount of Derivative Assets Not Offset Against Derivative Liabilities in Balance Sheet	0	6
Net Amount of Derivative Liabilities	$ 6	$ 4

Goodwill and Other Intangible50

Goodwill and Other Intangible Assets (Details) $ in Millions	6 Months Ended
	Oct. 31, 2016USD ($)
Goodwill [Roll Forward]
Balance at April 30, 2016	$ 590
Acquisitions (Note 14)	182
Foreign currency translation adjustment	(29)
Balance at October 31, 2016	743
Indefinite-lived Intangible Assets [Roll Forward]
Balance at April 30, 2016	595
Acquisitions (Note 14)	65
Foreign currency translation adjustment	(20)
Balance at October 31, 2016	$ 640

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Oct. 31, 2016	Jul. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	May 01, 2016
Balance at April 30, 2016		$ 1,562		$ 1,562
Cumulative effect of change in accounting principle (Note 1)						$ 10
Net income	$ 197		$ 200	342	$ 356
Net other comprehensive income (loss)	(5)		$ (2)	(57)	$ (6)
Cash dividends				(134)
Acquisition of treasury stock				(442)
Stock-based compensation expense				7
Stock issued under compensation plans				8
Loss on issuance of treasury stock issued under compensation plans				(13)
Stock split				0
Balance at October 31, 2016	1,283			1,283
Additional Paid-in Capital [Member]
Balance at April 30, 2016		114		114
Stock-based compensation expense				7
Loss on issuance of treasury stock issued under compensation plans				(13)
Stock split		(34)		(34)
Balance at October 31, 2016	74			74
Retained Earnings [Member]
Balance at April 30, 2016		4,065		4,065
Cumulative effect of change in accounting principle (Note 1)						$ 10
Net income				342
Cash dividends				(134)
Balance at October 31, 2016	4,283			4,283
AOCI Attributable to Parent [Member]
Balance at April 30, 2016		(350)		(350)
Net other comprehensive income (loss)				(57)
Balance at October 31, 2016	(407)			(407)
Treasury Stock, Common [Member]
Balance at April 30, 2016		(2,301)		(2,301)
Acquisition of treasury stock				(442)
Stock issued under compensation plans				8
Balance at October 31, 2016	(2,735)			(2,735)
Common stock, Class A, voting [Member] | Common Stock [Member]
Balance at April 30, 2016		13		13
Stock split				12
Balance at October 31, 2016	25			25
Common stock, Class B, nonvoting [Member] | Common Stock [Member]
Balance at April 30, 2016		$ 21		21
Stock split				22
Balance at October 31, 2016	$ 43			$ 43

Stockholders' Equity Stock Spli

Stockholders' Equity Stock Split (Details) $ / shares in Units, $ in Millions	Aug. 18, 2016	Jul. 31, 2016USD ($)	Oct. 31, 2016USD ($)$ / sharesshares	Apr. 30, 2016$ / sharesshares
Class of Stock [Line Items]
Stockholders' Equity Note, Stock Split, Conversion Ratio	2
Adjustments to Additional Paid in Capital, Stock Split | $			$ 0
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.15
Common stock, Class A, voting [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized			170,000,000	85,000,000
Common Stock, Shares, Issued			170,000,000	85,000,000
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.15	$ 0.15
Common stock, Class B, nonvoting [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized			400,000,000	400,000,000
Common Stock, Shares, Issued			284,626,000	142,313,000
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.15	$ 0.15
Additional Paid-in Capital [Member]
Class of Stock [Line Items]
Adjustments to Additional Paid in Capital, Stock Split | $		$ 34	$ 34

Stockholders' Equity Dividends

Stockholders' Equity Dividends (Details) - $ / shares	Nov. 17, 2016	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Declared		$ 0	$ 0	$ 0.34	$ 0.315
July 2016 dividend payment [Member]
Class of Stock [Line Items]
Dividends Payable, Date Declared, Month and Year				May 26, 2016
Dividends Payable, Date of Record				Jun. 6, 2016
Dividends Payable, Date to be Paid				Jul. 1, 2016
Common Stock, Dividends, Per Share, Declared				$ 0.17
October 2016 dividend payment [Member]
Class of Stock [Line Items]
Dividends Payable, Date Declared, Month and Year				Jul. 28, 2016
Dividends Payable, Date of Record				Sep. 1, 2016
Dividends Payable, Date to be Paid				Oct. 3, 2016
Common Stock, Dividends, Per Share, Declared				$ 0.17
Subsequent Event [Member] | January 2017 dividend payment [Member]
Class of Stock [Line Items]
Dividends Payable, Date Declared, Month and Year	Nov. 17, 2016
Dividends Payable, Date of Record	Dec. 2, 2016
Dividends Payable, Date to be Paid	Jan. 3, 2017
Common Stock, Dividends, Per Share, Declared	$ 0.1825

Stockholders' Equity Accumulate

Stockholders' Equity Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ (350)
Net other comprehensive income (loss)	$ (5)	$ (2)	(57)	$ (6)
Ending balance	(407)		(407)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(131)
Net other comprehensive income (loss)	(18)	(4)	(85)	(28)
Ending balance	(216)		(216)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			11
Net other comprehensive income (loss)	9	(4)	21	12
Ending balance	32		32
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(230)
Net other comprehensive income (loss)	4	$ 6	7	$ 10
Ending balance	$ (223)		$ (223)

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Before Tax:
Net other comprehensive income (loss)		$ 17	$ (3)	$ (27)	$ 5
Tax Effect:
Net other comprehensive income (loss)		(22)	1	(30)	(11)
Net of Tax:
Net other comprehensive income (loss)		(5)	(2)	(57)	(6)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Before Tax:
Net gain (loss)		(4)	(4)	(72)	(27)
Reclassification to earnings		0	0	0	0
Net other comprehensive income (loss)		(4)	(4)	(72)	(27)
Tax Effect:
Net gain (loss)		(14)	0	(13)	(1)
Reclassification to earnings		0	0	0	0
Net other comprehensive income (loss)		(14)	0	(13)	(1)
Net of Tax:
Net gain (loss)		(18)	(4)	(85)	(28)
Reclassification to earnings		0	0	0	0
Net other comprehensive income (loss)		(18)	(4)	(85)	(28)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Before Tax:
Net gain (loss)		23	9	52	46
Reclassification to earnings	[1]	(9)	(17)	(19)	(30)
Net other comprehensive income (loss)		14	(8)	33	16
Tax Effect:
Net gain (loss)		(9)	(3)	(20)	(15)
Reclassification to earnings	[1]	4	7	8	11
Net other comprehensive income (loss)		(5)	4	(12)	(4)
Net of Tax:
Net gain (loss)		14	6	32	31
Reclassification to earnings	[1]	(5)	(10)	(11)	(19)
Net other comprehensive income (loss)		9	(4)	21	12
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Before Tax:
Net gain (loss)		0	0	0	0
Reclassification to earnings	[2]	7	9	12	16
Net other comprehensive income (loss)		7	9	12	16
Tax Effect:
Net gain (loss)		0	0	0	0
Reclassification to earnings	[2]	(3)	(3)	(5)	(6)
Net other comprehensive income (loss)		(3)	(3)	(5)	(6)
Net of Tax:
Net gain (loss)		0	0	0	0
Reclassification to earnings	[2]	4	6	7	10
Net other comprehensive income (loss)		$ 4	$ 6	$ 7	$ 10
[1]	Pre-tax amount is classified as net sales in the accompanying consolidated statements of operations.
[2]	Pre-tax amount is a component of pension and other postretirement benefit expense (as shown in Note 7, except for amounts related to non-U.S. benefit plans, about which no information is presented in Note 7 due to immateriality).

Acquisition of Business (Detail

Acquisition of Business (Details) - BenRiach [Member] £ in Millions, $ in Millions	Nov. 17, 2016GBP (£)	Nov. 17, 2016USD ($)	Jun. 01, 2016GBP (£)	Jun. 01, 2016USD ($)
Business Acquisition [Line Items]
Business Combination, Consideration Transferred and Assumed Debt and Transaction Related Obligations				$ 407
Business Combination, Consideration Transferred				341
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Debt and Transaction Related Obligations				66
Payments to Acquire Businesses, Gross				$ 307
Business Acquisition, Percentage of Voting Interests Acquired				90.00%
Business Combination, Consideration Transferred, Liabilities Incurred			£ 24	$ 34
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				10.00%
Subsequent Event [Member]
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	10.00%	10.00%
Payments to Noncontrolling Interests	£ 24	$ 30

Acquisition of Business Purchas

Acquisition of Business Purchase Price Allocation (Details) £ in Millions, $ in Millions	Nov. 17, 2016GBP (£)	Nov. 17, 2016USD ($)	Jun. 01, 2016USD ($)	Oct. 31, 2016USD ($)	Apr. 30, 2016USD ($)
Business Acquisition [Line Items]
Goodwill				$ 743	$ 590
BenRiach [Member]
Business Acquisition [Line Items]
Business Combination, Consideration Transferred			$ 341
Accounts receivable			11
Inventories			159
Other current assets			1
Property, plant, and equipment			19
Goodwill			182
Trademarks and brand names			65
Total assets			437
Accounts payable and accrued expenses			12
Short-term borrowings			59
Deferred tax liabilities			25
Total liabilities			96
Net assets acquired			$ 341
Subsequent Event [Member] | BenRiach [Member]
Business Acquisition [Line Items]
Payments to Noncontrolling Interests	£ 24	$ 30