BROWN FORMAN CORP, 10-K filed on 6/14/2024
Annual Report
v3.24.1.1.u2
Document and Entity Information - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Jun. 10, 2024
Document Information [Line Items]    
Document Type 10-K  
Document Annual Report true  
Document Period End Date Apr. 30, 2024  
Current Fiscal Year End Date --04-30  
Document Transition Report false  
Entity File Number 001-00123  
Entity Registrant Name BROWN-FORMAN CORPORATION  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 61-0143150  
Entity Address, Address Line One 850 Dixie Highway  
Entity Address, City or Town Louisville,  
Entity Address, State or Province KY  
Entity Address, Postal Zip Code 40210  
City Area Code 502  
Local Phone Number 585-1100  
Entity Well-known Seasoned Issuer Yes  
Entity Voluntary Filers No  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
ICFR Auditor Attestation Flag true  
Document Financial Statement Error Correction [Flag] false  
Entity Public Float $ 19,400  
Documents Incorporated by Reference
Portions of Registrant’s Proxy Statement for use in connection with the Annual Meeting of Stockholders to be held July 25, 2024, are incorporated by reference into Part III of this report.
  
Entity Central Index Key 0000014693  
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus FY  
Common stock, Class A, voting [Member]    
Document Information [Line Items]    
Title of 12(b) Security Class A Common Stock (voting), $0.15 par value  
Trading Symbol BFA  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   169,123,305
Common Stock, Class B, nonvoting [Member]    
Document Information [Line Items]    
Title of 12(b) Security Class B Common Stock (nonvoting), $0.15 par value  
Trading Symbol BFB  
Security Exchange Name NYSE  
Entity Common Stock, Shares Outstanding   303,536,661
1.20% senior notes, due July 7, 2026 [Member]    
Document Information [Line Items]    
Title of 12(b) Security 1.200% Notes due 2026  
Trading Symbol BF26  
Security Exchange Name NYSE  
2.60% senior notes, due July 7, 2028 [Member]    
Document Information [Line Items]    
Title of 12(b) Security 2.600% Notes due 2028  
Trading Symbol BF28  
Security Exchange Name NYSE  
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Audit Information
 12 Months Ended
Apr. 30, 2024
Auditor Information [Abstract]  
Auditor Name Ernst & Young LLP
Auditor Location Louisville, Kentucky
Auditor Firm ID 42
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Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Income Statement [Abstract]      
Sales $ 5,328 $ 5,372 $ 5,081
Excise taxes 1,150 1,144 1,148
Net sales 4,178 4,228 3,933
Cost of sales 1,652 1,734 1,542
Gross profit 2,526 2,494 2,391
Advertising expenses 529 506 438
Selling, general, and administrative expenses 826 742 690
Gain on business divestitures (267) 0 0
Other expense (income), net 24 119 59
Operating income 1,414 1,127 1,204
Non-operating postretirement expense 3 29 13
Interest income (14) (9) (5)
Interest expense 127 90 82
Income before income taxes 1,298 1,017 1,114
Income taxes 274 234 276
Net income $ 1,024 $ 783 $ 838
Earnings per share:      
Basic (dollars per share) $ 2.15 $ 1.63 $ 1.75
Diluted (dollars per share) $ 2.14 $ 1.63 $ 1.74
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Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Statement of Comprehensive Income [Abstract]      
Net income $ 1,024 $ 783 $ 838
Other comprehensive income (loss), net of tax:      
Currency translation adjustments (7) 135 (60)
Cash flow hedge adjustments 0 (27) 53
Postretirement benefits adjustments 21 9 77
Net other comprehensive income (loss) 14 117 70
Comprehensive income $ 1,038 $ 900 $ 908
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Consolidated Balance Sheets - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
ASSETS    
Cash and cash equivalents $ 446 $ 374
Accounts receivable, net 769 855
Inventories:    
Barreled whiskey 1,490 1,262
Finished goods 452 509
Work in process 396 321
Raw materials and supplies 218 191
Total inventories 2,556 2,283
Other current assets 265 289
Total current assets 4,036 3,801
Property, plant, and equipment, net 1,074 1,031
Goodwill 1,455 1,457
Other intangible assets 990 1,164
Equity method investments 270 3
Deferred tax assets 69 66
Other assets 272 255
Total assets 8,166 7,777
Liabilities    
Accounts payable and accrued expenses 793 827
Accrued income taxes 38 22
Short-term borrowings 428 235
Current portion of long-term debt 300 0
Total current liabilities 1,559 1,084
Long-term debt 2,372 2,678
Deferred tax liabilities 315 323
Accrued pension and other postretirement benefits 160 171
Other liabilities 243 253
Total liabilities 4,649 4,509
Commitments and contingencies
Stockholders’ Equity    
Additional paid-in capital 13 1
Retained earnings 4,261 3,643
Accumulated other comprehensive income (loss), net of tax (221) (235)
Treasury stock, at cost (5,215,000 and 11,932,000 shares in 2023 and 2024, respectively) (608) (213)
Total stockholders' equity 3,517 3,268
Total liabilities and stockholders' equity $ 8,166 $ 7,777
Parenthetical Information [Abstract]    
Treasury stock, shares 11,932,000 5,215,000
Common stock, Class A, voting [Member]    
Stockholders’ Equity    
Common stock $ 25 $ 25
Parenthetical Information [Abstract]    
Common stock, par value $ 0.15 $ 0.15
Common stock, shares authorized 170,000,000 170,000,000
Common stock, shares issued 170,000,000 170,000,000
Common Stock, Class B, nonvoting [Member]    
Stockholders’ Equity    
Common stock $ 47 $ 47
Parenthetical Information [Abstract]    
Common stock, par value $ 0.15 $ 0.15
Common stock, shares authorized 400,000,000 400,000,000
Common stock, shares issued 314,532,000 314,532,000
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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Cash flows from operating activities:      
Net income $ 1,024 $ 783 $ 838
Adjustments to reconcile net income to net cash provided by operations:      
Gain on business divestitures (267) 0 0
Asset impairment charges 7 96 61
Depreciation and amortization 87 80 79
Stock-based compensation expense 25 18 15
Deferred income tax provision (benefit) 18 (3) (11)
Change in fair value of contingent consideration 9 0 0
Other, net 7 18 31
Changes in assets and liabilities, net of business acquisitions and divestitures:      
Accounts receivable 88 (21) (77)
Inventories (349) (403) (93)
Other current assets 23 4 15
Accounts payable and accrued expenses (31) 77 37
Accrued income taxes 17 (57) 47
Other operating assets and liabilities (11) 48 (6)
Cash provided by operating activities 647 640 936
Cash flows from investing activities:      
Proceeds from business divestitures 246 0 0
Business acquisitions, net of cash acquired 0 (1,195) 0
Additions to property, plant, and equipment (228) (183) (138)
Other, net 31 23 11
Cash provided by (used for) investing activities 49 (1,355) (127)
Cash flows from financing activities:      
Proceeds from short-term borrowings, maturities greater than 90 days 0 600 0
Repayments of short-term borrowings, maturities greater than 90 days 0 (600) 0
Net change in other short-term borrowings 192 234 (196)
Repayment of long-term debt 0 (250) 0
Proceeds from long-term debt 0 648 0
Acquisition of treasury stock (400) 0 0
Dividends paid (404) (378) (831)
Other, net (6) (15) (11)
Cash provided by (used for) financing activities (618) 239 (1,038)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (6) (14) (47)
Net increase (decrease) in cash, cash equivalents, and restricted cash 72 (490) (276)
Cash, cash equivalents, and restricted cash at beginning of period 384 874 1,150
Cash, cash equivalents, and restricted cash at end of period 456 384 874
Less: Restricted cash (included in other current assets) at end of period (10) (10) (6)
Cash and cash equivalents at end of period 446 374 868
Supplemental information:      
Cash paid for interest 125 85 80
Cash paid for income taxes 242 278 226
Non-cash additions to property, plant, and equipment $ 20 $ 27 $ 15
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Consolidated Statements of Stockholders' Equity - USD ($)
$ in Millions
Total
Common Stock [Member]
Common stock, Class A, voting [Member]
Common Stock [Member]
Common Stock, Class B, nonvoting [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Treasury Stock, Common [Member]
Beginning Balance at Apr. 30, 2021 $ 2,656 $ 25 $ 47 $ 0 $ 3,243 $ (422) $ (237)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 838       838    
Net other comprehensive income (loss) 70         70  
Cash dividends (831)       (831)    
Stock-based compensation expense 15     15      
Stock issued under compensation plans 12           12
Loss on treasury stock issued under compensation plans (23)     (15) (8)    
Ending Balance at Apr. 30, 2022 2,737 25 47 0 3,242 (352) (225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 783       783    
Net other comprehensive income (loss) 117         117  
Cash dividends (378)       (378)    
Stock-based compensation expense 18     18      
Stock issued under compensation plans 12           12
Loss on treasury stock issued under compensation plans (21)     (17) (4)    
Ending Balance at Apr. 30, 2023 3,268 25 47 1 3,643 (235) (213)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 1,024       1,024    
Net other comprehensive income (loss) 14         14  
Cash dividends (404)       (404)    
Acquisition of treasury stock (404)           (404)
Stock-based compensation expense 25     25      
Stock issued under compensation plans 9           9
Loss on treasury stock issued under compensation plans (15)     (13) (2)    
Ending Balance at Apr. 30, 2024 $ 3,517 $ 25 $ 47 $ 13 $ 4,261 $ (221) $ (608)
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Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Statement of Stockholders' Equity [Abstract]      
Cash dividends (dollars per share) $ 0.8466 $ 0.7880 $ 1.7360
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Accounting Policies
 12 Months Ended
Apr. 30, 2024
Accounting Policies [Abstract]  
Accounting Policies Accounting Policies
We prepare our consolidated financial statements in conformity with accounting principles generally accepted in the United States (GAAP). We also apply the following accounting policies when preparing our consolidated financial statements:
Principles of consolidation. Our consolidated financial statements include the accounts of all subsidiaries in which we have a controlling financial interest. We use the equity method to account for investments in entities that we do not control but over whose operating and financial policies we have the ability to exercise significant influence. We eliminate all intercompany transactions.
Estimates. To prepare financial statements that conform with GAAP, our management must make informed estimates that affect how we report revenues, expenses, assets, and liabilities, including contingent assets and liabilities. Actual results could differ from these estimates.
Cash equivalents. Cash equivalents include bank demand deposits and all highly liquid investments with original maturities of three months or less.
Accounts receivable. Accounts receivable are recorded net of an allowance for expected credit losses (allowance for doubtful accounts). We determine the allowance using information such as customer credit history and financial condition, historical loss experience, and macroeconomic factors. We write off account balances against the allowance when we have exhausted our collection efforts. The allowance for doubtful accounts was $7 and $8 at April 30, 2023 and 2024, respectively.
Inventories. Inventories are valued at the lower of cost or net realizable value. Approximately 49% of our consolidated inventories are valued using the last-in, first-out (LIFO) cost method, which we use for the majority of our U.S. inventories. We value the remainder of our inventories primarily using the first-in, first-out (FIFO) cost method. FIFO cost approximates current replacement cost. If we had used the FIFO method for all inventories, they would have been $429 and $512 higher than reported at April 30, 2023 and 2024, respectively.
Because we age most of our whiskeys in barrels for three years or more, we bottle and sell only a portion of our whiskey inventory each year. Following industry practice, we classify all barreled whiskey as a current asset. We include warehousing, insurance, ad valorem taxes, and other carrying charges applicable to barreled whiskey in inventory costs.
We classify agave inventories, bulk tequila, barreled rum, and liquid in bottling tanks as work in process.
Property, plant, and equipment. We state property, plant, and equipment at cost less accumulated depreciation. We calculate depreciation on a straight-line basis using our estimates of useful life, which are 20–40 years for buildings and improvements; 3–10 years for machinery, equipment, vehicles, furniture, and fixtures; and 3–7 years for capitalized software.
We assess our property, plant, and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of those assets may not be recoverable. When we do not expect to recover the carrying value of an asset (or asset group) through undiscounted future cash flows, we write it down to its estimated fair value. We determine fair value using discounted estimated future cash flows, considering market values for similar assets when available.
When we retire or dispose of property, plant, and equipment, we remove its cost and accumulated depreciation from our balance sheet and reflect any gain or loss in operating income. We expense the costs of repairing and maintaining our property, plant, and equipment as we incur them.
Goodwill and other intangible assets. When we acquire a business, we first allocate the purchase price to identifiable assets and liabilities, including intangible brand names and trademarks (“brand names”), based on estimated fair value. We then record any remaining purchase price as goodwill. We do not amortize goodwill or other intangible assets with indefinite lives. We consider all of our brand names to have indefinite lives.
We assess our goodwill and other indefinite-lived intangible assets for impairment at least annually, or more frequently if circumstances indicate the carrying amount may be impaired. Goodwill is impaired when the carrying amount of the related reporting unit exceeds its estimated fair value, in which case we write down the goodwill by the amount of the excess (limited to the carrying amount of the goodwill). We estimate the reporting unit's fair value using discounted estimated future cash flows or market information. Similarly, a brand name is impaired when its carrying amount exceeds its estimated fair value, in which case we write down the brand name to its estimated fair value. We estimate the fair value of a brand name using the relief-from-
royalty method. We also consider market values for similar assets when available. Considerable management judgment is necessary to estimate fair value, including the selection of assumptions about future cash flows, net sales, discount rates, and royalty rates.
We have the option, before quantifying the fair value of a reporting unit or brand name, to evaluate qualitative factors to assess whether it is more likely than not that our goodwill or brand names are impaired. If we determine that is not the case, then we are not required to quantify the fair value. That assessment also takes considerable management judgment.
Revenue recognition. Our net sales predominantly reflect global sales of beverage alcohol consumer products. We sell these products under contracts with different types of customers, depending on the market. The customer is most often a distributor, wholesaler, or retailer.
Each contract typically includes a single performance obligation to transfer control of the products to the customer. Depending on the contract, control is transferred when the products are either shipped or delivered to the customer, at which point we recognize the transaction price for those products as net sales. The transaction price recognized at that point reflects our estimate of the consideration to be received in exchange for the products. The actual amount may ultimately differ due to the effect of various customer incentives and trade promotion activities. In making our estimates, we consider our historical experience and current expectations, as applicable. Subsequent adjustments recognized for changes in estimated transaction prices are typically not material.
Net sales exclude taxes we collect from customers that are imposed by various governments on our sales, and are reduced by payments to customers unless made in exchange for distinct goods or services with fair values approximating the payments. Net sales include any amounts we bill customers for shipping and handling activities related to the products. We recognize the cost of those activities in cost of sales during the same period in which we recognize the related net sales. Sales returns, which are permitted only in limited situations, are not material. Customer payment terms generally range from 30 to 90 days. There are no significant amounts of contract assets or liabilities.
Cost of sales. Cost of sales includes the costs of receiving, producing, inspecting, warehousing, insuring, and shipping goods sold during the period.
Advertising costs. We expense the production costs of advertising when the advertisements first take place. We expense all other advertising costs during the year in which the costs are incurred.
Selling, general, and administrative expenses. Selling, general, and administrative expenses include the costs associated with our sales force, administrative staff and facilities, and other expenses related to our non-manufacturing functions.
Stock-based compensation. We use stock-based awards as part of our incentive compensation for eligible employees and directors. We recognize the grant-date fair value of an award as compensation expense on a straight-line basis over the requisite service period, which typically corresponds to the vesting period for the award. Upon forfeiture of an award prior to vesting, we reverse any previously recognized compensation expense related to that award. We classify stock-based compensation expense within selling, general, and administrative expenses.
As we recognize compensation expense for a stock-based award, we concurrently recognize a related deferred tax asset. The subsequent vesting or exercise of the award will generally result in an actual tax benefit that differs from the deferred tax asset that had been recorded. The excess (deficiency) of the actual tax benefit over (under) the previously recorded tax asset is recognized as income tax benefit (expense) on the date of vesting or exercise.
Income taxes. We base our annual provision for income taxes on the pre-tax income reflected in our consolidated statement of operations. We establish deferred tax liabilities or assets for temporary differences between GAAP and tax reporting bases and later adjust them to reflect changes in tax rates expected to be in effect when the temporary differences reverse. We record a valuation allowance as necessary to reduce a deferred tax asset to the amount that we believe is more likely than not to be realized. We do not provide deferred income taxes on undistributed earnings of foreign subsidiaries that we expect to indefinitely reinvest. We record a deferred tax charge in prepaid taxes for the difference between GAAP and tax reporting bases with respect to the elimination of intercompany profit in ending inventory.
We assess our uncertain income tax positions in two steps. First, we evaluate whether the tax position will more likely than not, based on its technical merits, be sustained upon examination, including resolution of any related appeals or litigation. For a tax position that does not meet this first criterion, we recognize no tax benefit. For a tax position that does meet the first criterion, we recognize a tax benefit in an amount equal to the largest amount of benefit that we believe has more than a 50% likelihood of being realized upon ultimate resolution. We record interest and penalties on uncertain tax positions as income tax expense.
Foreign currency transactions and translation. We report all gains and losses from foreign currency transactions (those denominated in a currency other than the entity's functional currency) in current income. The U.S. dollar is the functional currency for most of our consolidated entities. The local currency is the functional currency for some of our consolidated foreign entities. We translate the financial statements of those foreign entities into U.S. dollars, using the exchange rate in effect at the balance sheet date to translate assets and liabilities, and using the average exchange rate for the reporting period to translate income and expenses. We record the resulting translation adjustments in other comprehensive income (loss).
Accounting standards not yet adopted. In November 2023, the Financial Accounting Standards Board (FASB) issued an updated accounting standard requiring additional disclosures about significant segment expenses and other segment items. The update also requires interim disclosure of segment information that is currently required only on an annual basis. We are required to adopt the updated standard for annual disclosures beginning in fiscal 2025, and for interim disclosures in fiscal 2026, with earlier adoption permitted. The update is to be applied retroactively.
In December 2023, FASB issued an updated accounting standard requiring additional disclosures about income taxes, primarily related to the rate reconciliation and information about income taxes paid. We are required to adopt the new guidance beginning in fiscal 2026, with earlier adoption permitted. The update can be applied either prospectively or retrospectively.
We are currently evaluating the impact that adopting these accounting standards updates will have on our disclosures.
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Balance Sheet Information
 12 Months Ended
Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Information Balance Sheet Information
Supplemental information on our year-end balance sheets is as follows:
April 30,20232024
Other current assets:
Prepaid taxes$122 $100 
Other167 165 
$289 $265 
Property, plant, and equipment:
Land$97 $49 
Buildings717 782 
Equipment889 928 
Construction in process217 181 
1,920 1,940 
Less accumulated depreciation889 866 
$1,031 $1,074 
Accounts payable and accrued expenses:
Accounts payable, trade$308 $267 
Accrued expenses:
Advertising, promotion, and discounts216 200 
Compensation and commissions106 105 
Excise and other non-income taxes76 67 
Other121 154 
519 526 
$827 $793 
Other liabilities:
Contingent consideration
$63 $69 
Other190 174 
$253 $243 
Accumulated other comprehensive income (loss), net of tax:
Currency translation adjustments$(104)$(111)
Cash flow hedge adjustments10 10 
Postretirement benefits adjustments(141)(120)
$(235)$(221)
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Earnings Per Share
 12 Months Ended
Apr. 30, 2024
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: 
202220232024
Net income available to common stockholders$838 $783 $1,024 
Share data (in thousands):
Basic average common shares outstanding478,879 479,155 476,394 
Dilutive effect of stock-based awards1,686 1,310 826 
Diluted average common shares outstanding480,565 480,465 477,220 
Basic earnings per share$1.75 $1.63 $2.15 
Diluted earnings per share$1.74 $1.63 $2.14 
We excluded common stock-based awards for approximately 691,000 shares, 1,107,000 shares, and 1,689,000 shares from the calculation of diluted earnings per share for 2022, 2023, and 2024, respectively, because they were not dilutive for those periods under the treasury stock method.
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Goodwill and Other Intangible Assets
 12 Months Ended
Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The following table shows the changes in goodwill (which include no accumulated impairment losses) and other intangible assets over the past two years: 
GoodwillOther Intangible Assets
Balance as of April 30, 2022
$761 $586 
Business acquisitions (Note 13)
652 619 
Foreign currency translation adjustment44 55 
Impairment— (96)
Balance as of April 30, 2023
1,457 1,164 
Purchase accounting adjustments (Note 13)
40 (53)
Business divestitures (Note 14)
(28)(89)
Foreign currency translation adjustment(14)(25)
Impairment— (7)
Balance as of April 30, 2024
$1,455 $990 
Our other intangible assets consist of trademarks and brand names, all with indefinite useful lives.
During fiscal 2023, we recognized a non-cash impairment charge of $96 for the Finlandia brand name, largely reflecting the effects of higher discount rates and input costs on its valuation. During fiscal 2024, we recorded a $7 impairment charge related to the write-off of the carrying amount of an immaterial discontinued brand name. The impairment charges are included in “other expense (income), net” in the accompanying consolidated statements of operations.
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Equity Method Investments
 12 Months Ended
Apr. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
As of April 30, 2024, our equity method investments include a 21.4% ownership of the common stock of The Duckhorn Portfolio, Inc. (“Duckhorn”), which we obtained as partial consideration for the sale of the Sonoma-Cutrer wine business to Duckhorn (Note 14). The $267 carrying amount of the investment reflects the fair value of the common stock, based on its quoted market price at the April 30, 2024 closing date of the transaction. As of April 30, 2024, the difference between the carrying amount of the investment and our proportionate share of the net assets of Duckhorn was not material.
Our other equity method investments are immaterial.
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Contingencies
 12 Months Ended
Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Contingencies 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 April 30, 2024.
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Debt and Credit Facilities
 12 Months Ended
Apr. 30, 2024
Debt Disclosure [Abstract]  
Debt and Credit Facilities Debt and Credit Facilities
Our long-term debt (net of unamortized discounts and issuance costs) consisted of:
April 30,20232024
3.50% senior notes, $300 principal amount, due April 15, 2025
$299 $300 
1.20% senior notes, €300 principal amount, due July 7, 2026
330 321 
2.60% senior notes, £300 principal amount, due July 7, 2028
375 375 
4.75% senior notes, $650 principal amount, due April 15, 2033
642 643 
4.00% senior notes, $300 principal amount, due April 15, 2038
295 295 
3.75% senior notes, $250 principal amount, due January 15, 2043
248 248 
4.50% senior notes, $500 principal amount, due July 15, 2045
489 490 
2,678 2,672 
Less current portion— 300 
$2,678 $2,372 
Debt payments required over the next five fiscal years consist of $300 in 2025, $0 in 2026, $322 in 2027, $0 in 2028, $377 in 2029, and $1,700 after 2029.
The senior notes contain terms, events of default, and covenants customary of these types of unsecured securities, including limitations on the amount of secured debt we can issue.
Details of our short-term borrowings at April 30, 2023 and 2024, are presented below:
April 30,20232024
Commercial paper (par amount)
$235$429
Average interest rate5.17%5.49%
Average remaining days to maturity2112
We have a committed revolving credit agreement with various U.S. and international banks for $900 that expires in May 2028.
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Common Stock
 12 Months Ended
Apr. 30, 2024
Common Stock [Abstract]  
Common Stock Common Stock
The following table shows the change in outstanding common shares during each of the last three years:
(Shares in thousands)Class AClass BTotal
Balance at April 30, 2021
169,110 309,619 478,729 
Stock issued under compensation plans65 226 291 
Balance at April 30, 2022
169,175 309,845 479,020 
Stock issued under compensation plans65 231 296 
Balance at April 30, 2023
169,240 310,076 479,316 
Acquisition of treasury stock(176)(6,736)(6,912)
Stock issued under compensation plans44 152 196 
Balance at April 30, 2024
169,108 303,492 472,600 
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Net Sales
 12 Months Ended
Apr. 30, 2024
Net Sales [Abstract]  
Net Sales Net Sales
The following table shows our net sales by geography:
202220232024
United States
$1,917 $1,968 $1,889 
Developed International1
1,137 1,183 1,158 
Emerging2
714 842 886 
Travel Retail3
104 147 158 
Non-branded and bulk4
61 88 87 
$3,933 $4,228 $4,178 
1Represents net sales of branded products to “advanced economies” as defined by the International Monetary Fund (IMF), excluding the United States. Our top developed international markets are Germany, Australia, the United Kingdom, France, Canada, and Spain.
2Represents net sales of branded products to “emerging and developing economies” as defined by the IMF. Our top emerging markets are Mexico, Poland, and Brazil.
3Represents net sales of branded products to global duty-free customers, other travel retail customers, and the U.S. military, regardless of customer location.
4Includes net sales of used barrels, contract bottling services, and non-branded bulk whiskey and wine, regardless of customer location.

The following table shows our net sales by product category:
202220232024
Whiskey1
$2,756 $2,915 $2,832 
Ready-to-Drink2
431 509 520 
Tequila3
290 320 306 
Wine4
219 206 205 
Vodka5
109 99 82 
Non-branded and bulk6
61 88 87 
Rest of portfolio7
67 91 146 
$3,933 $4,228 $4,178 
1Includes all whiskey spirits and whiskey-based flavored liqueurs. The brands included in this category are the Jack Daniel’s family of brands (excluding the “ready-to-drink” products outlined below), the Woodford Reserve family of brands, the Old Forester family of brands, The Glendronach, Glenglassaugh, Benriach, Slane Irish Whiskey, and Coopers’ Craft.
2Includes the Jack Daniel’s ready-to-drink (RTD) and ready-to-pour (RTP) products, New Mix, and other RTD/RTP products.
3Includes el Jimador, the Herradura family of brands, and other tequilas.
4Includes Korbel California Champagne and Sonoma-Cutrer wines (which was divested on April 30, 2024).
5Includes Finlandia Vodka (which was divested on November 1, 2023). Net sales for the second half of fiscal 2024 were recognized pursuant to the transition services agreement related to distribution services in certain markets.
6Includes net sales of used barrels, contract bottling services, and non-branded bulk whiskey and wine.
7Includes Diplomático, Chambord, Gin Mare, Korbel Brandy, and Fords Gin.
v3.24.1.1.u2
Pension and Other Postretirement Benefits
 12 Months Ended
Apr. 30, 2024
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefits Pension and Other Postretirement Benefits
We sponsor various defined benefit pension plans as well as postretirement plans providing retiree health care and retiree life insurance benefits. Below, we discuss our obligations related to these plans, the assets dedicated to meeting the obligations, and the amounts we recognized in our financial statements as a result of sponsoring these plans.
 
Obligations. We provide eligible employees with pension and other postretirement benefits based on factors such as years of service and compensation level during employment. The pension obligation shown below (“projected benefit obligation”) consists of: (a) benefits earned by employees to date based on current salary levels (“accumulated benefit obligation”); and (b) benefits to be received by employees as a result of expected future salary increases. (The obligation for medical and life insurance benefits is not affected by future salary increases.) The following table shows how the present value of our projected benefit obligations changed during each of the last two years. 
 Pension BenefitsMedical and Life
Insurance Benefits
 2023202420232024
Obligation at beginning of year$846 $731 $43 $40 
Service cost20 18 1 — 
Interest cost32 34 1 2 
Net actuarial loss (gain)1
(21)(61)(2)(3)
Retiree contributions— — 2 3 
Benefits paid(146)(44)(5)(6)
Obligation at end of year$731 $679 $40 $36 
1 The net actuarial loss (gain) during each year was primarily attributable to changes in discount rates.
Service cost represents the present value of the benefits attributed to service rendered by employees during the year. Interest cost is the increase in the present value of the obligation due to the passage of time. Net actuarial loss (gain) is the change in value of the obligation resulting from experience different from that assumed or from a change in an actuarial assumption. (We discuss actuarial assumptions used at the end of this note.) Plan amendments can also change the value of the obligation.
As shown in the previous table, the change in the value of our pension and other postretirement benefit obligations also includes the effect of benefit payments and retiree contributions. Expected benefit payments (net of retiree contributions) over the next 10 years are as follows:
Pension BenefitsMedical and Life
Insurance Benefits
2025$54 $3 
202654 3 
202755 3 
202856 3 
202957 3 
2030 – 2034286 14 
Assets. We invest in specific assets to fund our pension benefit obligations. Our investment goal is to earn a total return that, over time, will grow assets sufficiently to fund our plans' liabilities, after providing appropriate levels of contributions and accepting prudent levels of investment risk. To achieve this goal, plan assets are invested primarily in funds or portfolios of funds managed by outside managers. Investment risk is managed by company policies that require diversification of asset classes, manager styles, and individual holdings. We measure and monitor investment risk through quarterly and annual performance reviews, and through periodic asset/liability studies.
Asset allocation is the most important method for achieving our investment goals and is based on our assessment of the plans' long-term return objectives and the appropriate balances needed for liquidity, stability, and diversification. As of April 30, 2024, our target asset allocation is a mix of 26% public equity investments, 59% fixed income investments, and 15% alternative investments.
The following table shows the fair value of pension plan assets by category as of the end of the last two years. (Fair value levels are defined in Note 16.)
 Level 1Level 2Level 3Total
April 30, 2023
Equity securities$35 $— $— $35 
Cash and temporary investments2 — — 2 
Limited partnership interest1
— — 1 1 
$37 $— $1 38 
Investments measured at net asset value:
Commingled trust funds2:
Equity funds138 
Fixed income funds330 
Real estate fund59 
Short-term investments2 
Limited partnership interests3
39 
Total$606 
April 30, 2024
Equity securities$31 $— $— $31 
Fixed income investments
— 278 — 278 
Limited partnership interest1
— — 1 1 
Pending transactions
(3)— — (3)
$28 $278 $1 307 
Investments measured at net asset value:
Commingled trust funds2:
Equity funds118 
Fixed income funds53 
Real estate fund49 
Short-term investments11 
Limited partnership interests3
38 
Total$576 
1 This limited partnership interest was initially valued at cost and has been adjusted to fair value as determined in good faith by management of the partnership using various factors, and does not meet the requirements for reporting at the net asset value (NAV). The valuation requires significant judgment due to the absence of quoted market prices and the inherent lack of liquidity. This limited partnership has a term expiring in September 2024.
2 Commingled trust fund valuations are based on the NAV of the funds as determined by the fund administrators and reviewed by us. NAV represents the underlying assets owned by the fund, minus liabilities and divided by the number of shares or units outstanding. Generally, for commingled trust funds other than real estate, redemptions are permitted daily with no notice period. The real estate fund is redeemable quarterly with 110 days' notice.
3 These limited partnership interests were initially valued at cost and have been adjusted using NAV per audited financial statements. Investments are generally not eligible for immediate redemption and have original terms averaging 10 to 13 years, although those periods may be extended.
The following table shows how the fair value of the Level 3 assets changed during each of the last two years. There were no transfers of assets between Level 3 and either of the other two levels.
Level 3
Balance as of April 30, 2022
$2 
Return on assets held at end of year(1)
Balance as of April 30, 2023
1 
Return on assets held at end of year— 
Balance as of April 30, 2024
$1 
The following table shows how the total fair value of all pension plan assets changed during each of the last two years. (We do not have assets set aside for postretirement medical or life insurance benefits.) 
 Pension BenefitsMedical and Life
Insurance Benefits
 2023202420232024
Assets at beginning of year$741 $606 $— $— 
Actual return on assets(7)(2)— — 
Retiree contributions— — 2 3 
Company contributions18 16 3 3 
Benefits paid(146)(44)(5)(6)
Assets at end of year$606 $576 $— $— 
We currently expect to contribute $16 to our pension plans and $3 to our postretirement medical and life insurance benefit plans during 2025.
Funded status. The funded status of a plan refers to the difference between its assets and its obligations. The following table shows the funded status of our plans.
 Pension BenefitsMedical and Life
Insurance Benefits
April 30,2023202420232024
Assets$606 $576 $— $— 
Obligations(731)(679)(40)(36)
Funded status$(125)$(103)$(40)$(36)
The funded status is recorded on the accompanying consolidated balance sheets as follows: 
 
Pension Benefits		Medical and Life
Insurance Benefits
April 30,2023202420232024
Other assets$17 $32 $— $— 
Accounts payable and accrued expenses(8)(8)(3)(3)
Accrued pension and other postretirement benefits(134)(127)(37)(33)
Net liability$(125)$(103)$(40)$(36)
Accumulated other comprehensive income (loss), before tax:
Net actuarial gain (loss)$(192)$(166)$(1)$2 
Prior service credit (cost)(4)(4)2 1 
$(196)$(170)$1 $3 
The following table compares our pension plans whose accumulated benefit obligations exceed their assets with our pension plans whose assets exceed their accumulated benefit obligations.
 Accumulated
Benefit Obligation		Plan Assets
April 30,2023202420232024
Plans with accumulated benefit obligation in excess of assets$(131)$(124)$— $— 
Plans with assets in excess of accumulated benefit obligation(524)(487)606 576 
Total$(655)$(611)$606 $576 
The following table compares our pension plans whose projected benefit obligations exceed their assets with our pension plans whose assets exceed their projected benefit obligations.
 Projected
Benefit Obligation		Plan Assets
April 30,2023202420232024
Plans with projected benefit obligation in excess of assets$(190)$(135)$48 $— 
Plans with assets in excess of projected benefit obligation(541)(544)558 576 
Total$(731)$(679)$606 $576 
As noted above, we have no assets set aside for the postretirement medical or life insurance benefit plans.
Pension cost. The following table shows the components of the pension cost recognized during each of the last three years. The amount for each year includes amortization of the prior service cost/credit and net actuarial loss/gain included in accumulated other comprehensive loss as of the beginning of the year. 
 Pension Benefits
 202220232024
Service cost$26 $20 $18 
Interest cost22 32 34 
Expected return on assets(45)(43)(40)
Amortization of:
Prior service cost (credit)1 1 1 
Net actuarial loss (gain)23 9 6 
Settlement charge12 29 — 
Net cost$39 $48 $19 
We determine the expected return on plan assets by applying our long-term rate of return assumption to the market-related value of plan assets, adjusted by earnings on contributions and benefit payments expected to be made during the year. We calculate the market-related value of plan assets by amortizing actual versus expected returns over five years.
We amortize prior service costs and net actuarial gains or losses on straight-line basis over the average remaining service period of the employees expected to receive benefits under the plan. However, for net actuarial gains or losses, we use a corridor approach that amortizes them only to the extent the gain or loss exceeds 10% of the greater of the projected benefit obligation or market-related value of plan assets.
The settlement charges recognized during 2022 and 2023 were triggered by fiscal year-to-date lump-sum payments under certain pension plans surpassing total annual service and interest cost for those plans.
Other postretirement benefits cost. The following table shows the components of the postretirement medical and life insurance benefits cost that we recognized during each of the last three years. 
 Medical and Life Insurance Benefits
 202220232024
Service cost$1 $1 $— 
Interest cost1 1 2 
Amortization of:
Prior service cost (credit)(2)— — 
Net actuarial loss (gain)1 — — 
Net cost$1 $2 $2 
We amortize prior service costs and net actuarial gains or losses on straight-line basis over the average remaining service period of the employees expected to receive benefits under the plan.
Other comprehensive income (loss). We recognize prior service cost/credit and net actuarial loss/gain in other comprehensive income or loss (OCI) during the period in which they arise. These amounts are later amortized from accumulated OCI into pension and other postretirement benefit cost over future periods as described above. The following table shows the pre-tax effect of these amounts on OCI during each of the last three years.
 Pension BenefitsMedical and Life
Insurance Benefits
 202220232024202220232024
Net actuarial gain (loss)$62 $(29)$20 $5 $2 $3 
Amortization reclassified to earnings:
Prior service cost (credit)1 1 1 (2)— — 
Net actuarial loss (gain)35 38 6 1 — — 
Net amount recognized in OCI$98 $10 $26 $4 $2 $3 
Assumptions and sensitivity. We use various assumptions to determine the obligations and cost related to our pension and other postretirement benefit plans. The weighted-average assumptions used in computing benefit plan obligations as of the end of the last two years were as follows:
 
Pension Benefits		Medical and Life
Insurance Benefits
 2023202420232024
Discount rate4.91 %5.70 %4.86 %5.66 %
Rate of salary increase4.00 %4.00 %n/an/a
Interest crediting rate3.69 %4.79 %n/an/a
 
The weighted-average assumptions used in computing benefit plan cost during each of the last three years were as follows: 
 Pension BenefitsMedical and Life
Insurance Benefits
 202220232024202220232024
Discount rate for service cost3.36 %4.52 %4.98 %3.49 %4.50 %5.02 %
Discount rate for interest cost2.34 %4.12 %4.79 %2.27 %3.96 %4.78 %
Rate of salary increase4.00 %4.00 %4.00 %n/an/an/a
Interest crediting rate3.06 %3.06 %3.69 %n/an/an/a
Expected return on plan assets6.25 %6.25 %6.50 %n/an/an/a
We determine the assumed discount rates using a yield curve based on the interest rates of high-quality debt securities with maturities corresponding to the expected timing of our benefit payments. We measure the service cost and interest cost components by applying the specific spot rates along the yield curve used to measure the benefit obligation at the beginning of the period.
The assumed rate of salary increase reflects the expected average annual increase in salaries as a result of inflation, merit increases, and promotions over the service period of the plan participants.
The assumed interest crediting is based on the greater of the average yield on 30-year Treasury bonds or the minimum rate specified in the applicable pension plan.
The expected return on plan assets represents the long-term rate of return that we assume will be earned over the life of the pension assets. The assumption reflects expected capital market returns for each asset class, which are based on historical returns, adjusted for the expected effects of diversification.
The assumed health care cost trend rates as of the end of the last two years were as follows: 
 Medical and Life
Insurance Benefits
 20232024
Health care cost trend rate assumed for next year7.23 %7.13 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.50 %4.50 %
Year that the rate reaches the ultimate trend rate20322032
Savings plans. We also sponsor various defined contribution benefit plans that together cover substantially all U.S. employees. Employees can make voluntary contributions in accordance with their respective plans, which include a 401(k) tax deferral option. We match a percentage of each employee's contributions in accordance with plan terms. We expensed $13, $14, and $14 for matching contributions during 2022, 2023, and 2024, respectively.
International plans. The information presented above for defined benefit plans and defined contribution benefit plans reflects amounts for U.S. plans only. Information about similar international plans is not presented due to immateriality.
v3.24.1.1.u2
Stock-Based Compensation
 12 Months Ended
Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
The Brown-Forman 2022 Omnibus Compensation Plan (Plan) is our incentive compensation plan, designed to reward participants (including eligible executive officers, other employees, and non-employee directors) for company performance. Under the Plan, we can grant stock-based incentive awards for up to 12,412,433 shares of common stock to eligible participants until July 28, 2032. As of April 30, 2024, awards for approximately 11,269,000 shares remain available for issuance under the Plan. We try to limit the source of shares delivered to participants under the Plan to treasury shares that we purchase from time to time on the open market (in connection with a publicly announced share repurchase program), in private transactions, or otherwise.
Awards granted under the Plan include stock-settled stock appreciation rights (SSARs), performance-based restricted stock units (PBRSUs), time-based restricted stock units (RSUs), and deferred stock units (DSUs).
SSARs. We grant SSARs at an exercise price equal to the closing market price of the underlying stock on the grant date. SSARs become exercisable after three years from the first day of the fiscal year of grant and generally are exercisable for seven years after that date. The following table presents information about SSARs outstanding as of April 30, 2024, and for the year then ended.
Number of
SSARs
(in thousands)		Weighted-
Average
Exercise Price
per SSAR		Weighted-
Average
Remaining
Contractual
Term (years)		Aggregate
Intrinsic Value
Outstanding at April 30, 2023
4,010 $51.76 
Granted336 69.69 
Exercised(568)37.85 
Forfeited or expired(28)64.63 
Outstanding at April 30, 2024
3,750 $55.37 4.6$12 
Exercisable at April 30, 2024
2,617 $48.54 3.4$12 
We use the Black-Scholes pricing model to calculate the grant-date fair value of a SSAR. The weighted-average grant-date fair values and related valuation assumptions for the SSARS granted during each of the last three years were as follows:
202220232024
Grant-date fair value$16.61 $20.67 $21.69 
Valuation assumptions:
Expected term (years)7.07.07.0
Risk-free interest rate1.0 %2.7 %4.1 %
Expected volatility24.1 %24.8 %25.0 %
Expected dividend yield1.0 %1.0 %1.2 %
The expected term is based on past exercise experience for similar awards. The risk-free interest rate is based on zero-coupon U.S. Treasury rates as of the date of grant. Expected volatility and dividend yield are based on historical data, with consideration of other factors when applicable.
PBRSUs. The PBRSUs vest at the end of a three-year performance period that begins on the first day of the fiscal year of grant. For PBRSU granted in fiscal 2022 and 2023, performance is measured in full by comparing the three-year cumulative total shareholder return (TSR) of our Class B common stock to the three-year cumulative TSR of the companies in the Standard & Poor’s Consumer Staples Index (the peer group). Beginning with PBRSUs granted in fiscal 2024, performance is measured based in part (50%) on our TSR compared to the TSR of the peer group and in part (50%) on our adjusted operating income growth compared to the adjusted operating income growth of the peer group over the three-year performance period. At the end of the performance period, the number of PBRSUs is adjusted for performance, and then adjusted upward to account for dividends paid during the second and third years of the performance period. The resulting PBRSUs are then converted to common shares.
The following table presents information about PBRSUs outstanding as of April 30, 2024, and for the year then ended.
Number of
PBRSUs
(in thousands)		Weighted-
Average
Fair Value at
Grant Date
Outstanding at April 30, 2023
289 $76.33 
Granted209 $75.70 
Adjusted for performance and dividends(38)$73.56 
Converted to common shares(41)$73.56 
Forfeited(6)$77.12 
Outstanding at April 30, 2024
413 $76.53 
For the portion of the PBRSUs based on adjusted operating income performance, we calculate the grant-date fair value using the closing market price on the underlying stock at the date of grant, discounted for dividends that are not paid on the PBRSUs during the first year of the performance period.
For the portion of the PBRSUs based on TSR, we calculate the grant-date fair value using a Monte Carlo simulation model. The following table shows the assumptions used in the Monte Carlo simulation model to value the awards granted during each of the last three fiscal years.
202220232024
Valuation assumptions:
Risk-free interest rate0.3 %2.8 %4.6 %
Expected volatility29.1 %29.8 %22.2 %
Expected dividend yield1.0 %1.0 %1.2 %
Remaining performance period (years) as of grant date2.82.82.8
RSUs. Beginning in fiscal 2024, we grant time-based restricted stock units (RSUs) to certain non-executive employees. Each RSU represents the right to receive one share of Class B common stock. The RSUs vest in three equal amounts at the end of each of the subsequent three fiscal years. Outstanding RSUs are credited with dividend-equivalent RSUs when dividends are paid on our common stock. The grant-date fair value of an RSU is the closing market price of the underlying stock on the grant date. The following table presents information about RSUs outstanding as of April 30, 2024, and for the year then ended.
Number of
RSUs
(in thousands)		Weighted-
Average
Fair Value at
Grant Date
Outstanding at April 30, 2023— $— 
Granted89 $68.89 
Additions for dividend equivalents
1 $69.41 
Forfeited(3)$69.17 
Outstanding at April 30, 202487 $68.88 
DSUs. DSUs are granted to our non-employee directors. Each DSU represents the right to receive one share of common stock based on the closing price of the shares on the date of grant. Outstanding DSUs are credited with dividend-equivalent DSUs when dividends are paid on our common stock. Each annual grant vests after one year. DSUs are paid out in shares after the completion of a director's tenure on the board plus a six-month waiting period. The director may elect to receive the distribution either in a single lump sum or in ten equal annual installments. As of April 30, 2024, there were approximately 181,000 outstanding DSUs, of which approximately 159,000 were vested.
The grant-date fair value of a DSU is the closing market price of the underlying stock on the grant date. The weighted average grant-date fair values for these awards granted during each of the last three years were as follows:
202220232024
Grant-date fair value$67.35 $72.10 $71.23 
Additional information. The pre-tax stock-based compensation expense and related deferred income tax benefits recognized during the last three fiscal years were as follows:
202220232024
Pre-tax compensation expense$15 $18 $25 
Deferred tax benefit2 3 3 
As of April 30, 2024, there was $14 of total unrecognized compensation cost related to non-vested stock-based awards. That cost is expected to be recognized over a weighted-average period of 1.6 years. Further information related to our stock-based awards for the last three years is as follows:
202220232024
Intrinsic value of SSARs exercised$23 $19 $12 
Fair value of shares vested7 6 4 
Excess tax benefit from exercise / vesting of awards6 4 2 
v3.24.1.1.u2
Income Taxes
 12 Months Ended
Apr. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We incur income taxes on the earnings of our U.S. and foreign operations. The following table, based on the locations of the taxable entities from which sales were derived (rather than the location of customers), presents the U.S. and foreign components of our income before income taxes:
202220232024
United States$954 $841 $917 
Foreign160 176 381 
$1,114 $1,017 $1,298 
The income shown above was determined according to GAAP. Because those standards sometimes differ from the tax rules used to calculate taxable income, there are differences between (a) the amount of taxable income and pretax financial income for a year, and (b) the tax bases of assets or liabilities and their amounts as recorded in our financial statements. As a result, we recognize a current tax liability for the estimated income tax payable on the current tax return, deferred tax liabilities (tax on income that will be recognized on future tax returns), and deferred tax assets (tax from deductions that will be recognized on future tax returns) for the estimated effects of the differences mentioned above.
Total income tax expense for a year includes the tax associated with the current tax return (current tax expense) and the change in the net deferred tax asset or liability (deferred tax expense). Our total income tax expense for each of the last three years was as follows:
202220232024
Current:
U.S. federal$205 $157 $150 
Foreign64 46 81 
State and local18 34 25 
287 237 256 
Deferred:
U.S. federal1 (4)16 
Foreign(9)6 (5)
State and local(3)(5)7 
(11)(3)18 
$276 $234 $274 
Our consolidated effective tax rate usually differs from current statutory rates due to the recognition of amounts for events or transactions with no tax consequences. The following table reconciles our effective tax rate to the federal statutory tax rate in the United States: 
 Percent of Income Before Taxes
 202220232024
U.S. federal statutory rate21.0 %21.0 %21.0 %
State taxes, net of U.S. federal tax benefit1.0 %2.5 %1.3 %
Income taxed at other than U.S. federal statutory rate1.3 %3.0 %0.5 %
Prior intercompany sales taxed at higher than current U.S. federal statutory rate2.0 %1.0 %— %
Tax benefit from foreign-derived sales(1.8 %)(3.0 %)(1.7)%
Business divestitures
— %— %(0.7)%
Adjustments related to prior years0.7 %(0.5 %)— %
Excess tax benefits from stock-based awards(0.5 %)(0.3 %)(0.1)%
Tax rate changes0.4 %— %0.4 %
Valuation allowance— %(1.3 %)0.1 %
Other, net0.7 %0.6 %0.4 %
Effective rate24.8 %23.0 %21.2 %
Deferred tax assets and liabilities as of the end of each of the last two years were as follows:
April 30,20232024
Deferred tax assets:
Postretirement and other benefits$75 $65 
Accrued liabilities and other35 47 
Inventories26 26 
Lease liabilities23 27 
Loss and credit carryforwards62 65 
Total deferred tax assets221 230 
Valuation allowance(14)(16)
Total deferred tax assets, net of valuation allowance207 214 
Deferred tax liabilities:
Intangible assets(323)(295)
Property, plant, and equipment(98)(93)
Right-of-use assets(23)(27)
Derivative instruments(3)(3)
Equity method investments
— (37)
Other(17)(5)
Total deferred tax liabilities(464)(460)
Net deferred tax liability$(257)$(246)
Details of the loss and credit carryforwards and related valuation allowances as of the end of each of the last two years are as follows:
April 30, 2023April 30, 2024
Gross AmountDeferred Tax AssetValuation AllowanceGross AmountDeferred Tax AssetValuation Allowance
U.S.$111 $20 $(6)$110 $38 
1
$(7)
Foreign216 42 (8)161 27 
2
(9)
$327 $62 $(14)$271 $65 $(16)
1As of April 30, 2024, the deferred tax asset amount includes credit carryforwards of $28 that do not expire and loss and credit carryforwards of $10 that expire in varying amounts from 2025 to 2039.
2As of April 30, 2024, the deferred tax asset includes loss carryforwards of $25 that do not expire and $2 that expire in varying amounts over the next 10 years.

As of April 30, 2024, we had approximately $1,909 of undistributed earnings from our foreign subsidiaries ($1,617 at April 30, 2023). These earnings have been previously subject to tax, primarily as a result of the 2017 Tax Cuts and Jobs Act. Historically, we have asserted that the undistributed earnings of our foreign subsidiaries are reinvested indefinitely outside the United States. We continue to maintain indefinite reinvestment assertions for most undistributed earnings of our foreign subsidiaries, and no deferred taxes have been provided on the earnings. For undistributed earnings not considered permanently reinvested, deferred tax liabilities have been provided for any applicable income taxes and withholding taxes payable in various countries, which are not significant. We have also asserted that other outside basis differences related to our foreign subsidiaries are reinvested indefinitely and that the determination of any unrecognized deferred tax liabilities is not practicable due to the complexities in the calculations. The other outside basis differences relate primarily to differences between U.S. GAAP and tax basis that arose through purchase accounting. These basis differences could reverse through sales of foreign subsidiaries or other transactions, none of which are considered probable as of April 30, 2024.
At April 30, 2024, we had $14 of gross unrecognized tax benefits, $11 of which would reduce our effective income tax rate if recognized. A reconciliation of the beginning and ending unrecognized tax benefits follows: 
202220232024
Unrecognized tax benefits at beginning of year$12 $14 $21 
Additions for tax positions provided in prior periods2 8 1 
Additions for tax positions provided in current period2 3 2 
Decreases for tax positions provided in prior years— — (3)
Settlements of tax positions in the current period— — (3)
Lapse of statutes of limitations(2)(4)(4)
Unrecognized tax benefits at end of year$14 $21 $14 
We file federal income tax returns in the United States and also file tax returns in various state, local and foreign jurisdictions. The major jurisdictions where we are subject to examination by tax authorities include the United States, Australia, Brazil, Germany, Korea, Mexico, Netherlands, and the United Kingdom. We have tax years open for examination from 2013 and forward. Various tax examinations are currently in progress in the United States, for both federal and states, and in certain foreign jurisdictions. In the United States, we are participating in the Internal Revenue Service's Compliance Assurance Program for our fiscal 2024 tax year.
We believe there will be no material change in our gross unrecognized tax benefits in the next 12 months.
v3.24.1.1.u2
Acquisitions
 12 Months Ended
Apr. 30, 2024
Acquisitions [Abstract]  
Acquisitions Acquisitions
On November 3, 2022, we acquired the Gin Mare and Gin Mare Capri brands through our purchase of 100% of the equity interests of Gin Mare Brand, S.L.U., a Spanish company, and Mareliquid Vantguard, S.L.U., a Spanish company (the “Gin Mare acquisition”). The acquisition was accounted for as a business combination. The purchase price of the Gin Mare acquisition was $523, which consisted of $468 in cash paid at the acquisition date plus contingent consideration of $55. The purchase price for the Gin Mare acquisition decreased by $1 as a result of certain fair value adjustments to the contingent consideration made during the first half of fiscal 2024, which were primarily a result of changes in the discount rates used to calculate the fair value as of the acquisition date.
We have allocated the purchase price of the Gin Mare acquisition based on management’s estimates and independent valuations as follows:
Prior Allocation1
Adjustments
Final Allocation
Trademarks and brand names (indefinite-lived)$307 $(24)$283 
Goodwill289 17 306 
Total assets596 (7)589 
Deferred tax liabilities72 (6)66 
Net assets acquired$524 $(1)$523 
1As reported in Note 12 to our consolidated financial statements in our 2023 Form 10-K.
The adjustments to the prior Gin Mare purchase price allocation reflect revised valuations for the trademarks and brand names, which were driven by an increase in the discount rates used to calculate fair values as of the acquisition date, partially offset by higher projections of future cash flows. The Gin Mare purchase price allocation was finalized during the second quarter of fiscal 2024.
The contingent consideration of $55 reflects the estimated fair value, at the acquisition date, of contingent future cash payments of up to €90 to the sellers under an “earn-out” provision of the acquisition agreement. We determined the estimated fair value of the contingent consideration using a Monte Carlo simulation, which requires the use of assumptions, such as projected future net sales, discount rates, and volatility rates.
Any contingent consideration earned by the sellers will be payable in cash no earlier than July 2024 and no later than July 2027, depending on when the sellers choose to exercise the right to receive the payment. The amount payable will depend on the achievement of net sales targets for Gin Mare for the latest fiscal year completed prior to the date of exercise by the sellers. The possible payments range from zero to €90 (approximately $89 as of the acquisition date).
At the acquisition date, we also entered into a supply agreement with the sellers for the production and supply of Gin Mare products to us, at market terms, for an initial period of 10 years (subject to subsequent renewal periods).
On January 5, 2023, we acquired the Diplomático and Botucal rum brands through our purchase of (i) 100% of the equity interests of (a) International Rum and Spirits Distributors Unipessoal, Lda., a Portuguese company, (b) Diplomático Branding Unipessoal Lda., a Portuguese company, (c) International Bottling Services, S.A., a Panamanian corporation, and (d) International Rum & Spirits Marketing Solutions, S.L., a Spanish company; and (ii) certain assets of Destilerias Unidas Corp. (the “Diplomático acquisition”). The acquisition was accounted for as a business combination. The purchase price of the Diplomático acquisition consisted of cash of $723 (net of a post-closing working capital adjustment of $4).
We have allocated the purchase price of the Diplomático acquisition based on management’s estimates and independent valuations as follows:
Prior Allocation1
Adjustments
Final Allocation
Accounts receivable$11 $— $11 
Inventories36 (2)34 
Other current assets25 — 25 
Property, plant, and equipment38 — 38 
Trademarks and brand names (indefinite-lived)312 (29)283 
Goodwill363 23 386 
Other assets2 — 2 
Total assets787 (8)779 
Accounts payable and accrued expenses13 1 14 
Deferred tax liabilities45 (5)40 
Other liabilities2 — 2 
Total liabilities60 (4)56 
Net assets acquired$727 $(4)$723 
1As reported in Note 12 to our consolidated financial statements in our 2023 Form 10-K.
The adjustments to the prior Diplomático purchase price allocation reflect revised valuations for the trademarks and brand names, which were driven by an increase in the discount rates used to calculate fair values as of the acquisition date, partially offset by higher projections of future cash flows. The adjustments also reflect certain other immaterial net working capital adjustments. The Diplomático purchase price allocation was finalized during the third quarter of fiscal 2024.
At the acquisition date, we also entered into a supply agreement with the sellers for their production and supply of rum to us, at market terms, for an initial period of 10 years (subject to subsequent renewal periods).
The amounts allocated to trademarks and brand names for each acquisition were estimated using the relief-from-royalty method, which requires the use of significant assumptions, such as net sales, discount rates, and royalty rates.
Goodwill is calculated as the excess of the purchase price over the fair value of the net identifiable assets acquired. The goodwill recorded for each acquisition is primarily attributable to the value of leveraging our distribution network and brand-building expertise to grow sales of the acquired brands. For the Gin Mare acquisition, we expect none of the goodwill of $306 to be deductible for tax purposes. For the Diplomático acquisition, we expect $108 of the goodwill of $386 to be deductible for tax purposes.
In connection with the acquisitions, we recognized transaction expenses of $55 during fiscal 2023. The following table shows the classification of the transaction expenses in the accompanying consolidated statement of operations.
2023
Selling, general, and administrative expenses$11 
Other expense (income), net44 
Total transaction expenses$55 
The transaction expenses largely reflect payments made to terminate certain distribution contracts related to the acquired brands.
v3.24.1.1.u2
Divestitures
 12 Months Ended
Apr. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Divestitures Divestitures
On November 1, 2023, we sold the Finlandia vodka business to Coca-Cola HBC AG for $196 in cash. The net carrying amount of the related business assets and liabilities included in the sale was $100, consisting largely of goodwill and other intangible assets. As a result of the sale, we recognized a pre-tax gain of $92 during fiscal 2024, calculated as follows:
Cash proceeds
$196 
Net carrying amount of assets and liabilities sold(100)
Amounts reclassified from AOCI:
Cumulative translation losses(30)
Net investment hedge gain (Note 15)26 
Pre-tax gain on divestiture of Finlandia
$92 
On April 30, 2024, we sold the Sonoma-Cutrer wine business to The Duckhorn Portfolio, Inc.(“Duckhorn”) in exchange for an ownership percentage of 21.4% in Duckhorn and cash of $50. The net carrying amount of the related business assets and liabilities included in the sale was $142 and consisted of the following:
Inventories$56 
Property, plant, and equipment83 
Goodwill18 
Other assets1 
Total assets sold158 
Accounts payable and accrued expenses3 
Deferred tax liabilities12 
Other liabilities1 
Total liabilities sold16 
Net assets sold$142 
As a result of the sale, we recognized a pre-tax gain of $175 during the fourth quarter of fiscal 2024, calculated as follows:
Cash proceeds
$50 
Fair value of equity interest in Duckhorn
267 
Total consideration received
317 
Net carrying amount of assets and liabilities sold(142)
Pre-tax gain on divestiture of Sonoma-Cutrer
$175 
v3.24.1.1.u2
Derivative Financial Instruments and Hedging Activities
 12 Months Ended
Apr. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments and Hedging Activities Derivative Financial Instruments and Hedging Activities
We are subject to market risks, including the effect of fluctuations in foreign 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 foreign 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 in accumulated other comprehensive income (AOCI) until the underlying hedged transaction occurs, when we reclassify that amount into earnings.
Some of our currency derivatives are not designated as hedges because we use them to partially offset the immediate earnings impact of changes in foreign currency exchange rates on existing assets or liabilities. We immediately recognize the change in fair value of these contracts in earnings.
We had outstanding currency derivatives, related primarily to our euro, British pound, and Australian dollar exposures, with notional amounts for all hedged currencies totaling $747 and $566 at April 30, 2023 and 2024, respectively. The maximum term of outstanding derivative contracts was 24 months at both April 30, 2023 and 2024.
We also use foreign currency-denominated debt to help manage our foreign currency exchange risk. We designate a portion of those debt instruments as net investment hedges, which are intended to mitigate foreign currency exposure related to non-U.S. dollar net 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. The amount of foreign currency-denominated debt designated as net investment hedges was $495 and $497 as of April 30, 2023 and 2024, respectively.
At inception, we expect each financial instrument designated as a hedge to be highly effective in offsetting the financial exposure it is designed to mitigate, and we assess hedge-effectiveness continually. If we determine that any financial instruments designated as hedges are no longer highly effective, we discontinue hedge accounting for those instruments.
We use forward purchase contracts with suppliers to protect against corn price volatility. We expect to take physical 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 as derivative instruments.
During fiscal 2024, we reclassified $26 of gains on net investment hedges from AOCI to earnings in connection with the divestiture of Finlandia (Note 14).
The following table presents the pre-tax impact that changes in the fair value of our derivative instruments and non-derivative hedging instruments had on AOCI and earnings during each of the last three years:
Classification in Statement of Operations202220232024
Currency derivatives designated as cash flow hedges:
Net gain (loss) recognized in AOCIn/a$76 $4 $11 
Net gain (loss) reclassified from AOCI into earningsSales5 37 12 
Net gain (loss) reclassified from AOCI into earningsOther income (expense), net2 — — 
Interest rate derivatives designated as cash flow hedges:
Net gain (loss) recognized in AOCIn/a— (1)— 
Currency derivatives not designated as hedging instruments:
Net gain (loss) recognized in earningsSales12 (1)— 
Net gain (loss) recognized in earningsOther income (expense), net5 16 8 
Foreign currency-denominated debt designated as net investment hedge:
Net gain (loss) recognized in AOCIn/a78 3 3 
Net gain (loss) reclassified from AOCI to earnings
Gain on business divestitures
— — 26 
Total amounts presented in the accompanying consolidated statements of operations for line items affected by the net gains (losses) shown above:
Sales5,081 5,372 5,328 
Other income (expense), net(59)(119)(24)
We expect to reclassify $7 of deferred net gains on cash flow hedges recorded in AOCI as of April 30, 2024, to earnings during fiscal 2025. 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.
The following table presents the fair values of our derivative instruments as of April 30, 2023 and 2024:
Balance Sheet ClassificationDerivative AssetsDerivative Liabilities
April 30, 2023
Designated as cash flow hedges:
Currency derivativesOther current assets$20 $(11)
Currency derivativesOther assets5 (1)
Currency derivativesAccrued expenses— (1)
Currency derivativesOther liabilities— (1)
Not designated as hedges:
Currency derivativesOther current assets3 — 
April 30, 2024
Designated as cash flow hedges:
Currency derivativesOther current assets11 (2)
Currency derivativesOther assets1 (1)
Not designated as hedges:
Currency derivativesAccrued expenses— (1)
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 subject to net settlement agreements are presented on a net basis in our balance sheets.
In our statements 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 we monitor regularly. Based on our most recent assessment. we consider our counterparty credit risk to be low.
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 $1 and $1 at April 30, 2023 and 2024, respectively.
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 (that is, those with a remaining term of 12 months or less) with the same counterparty on a net basis in our balance sheets. Similarly, we present the fair values of noncurrent derivatives with the same counterparty on a net basis. We do not net current derivatives with noncurrent derivatives in our balance sheets.
The following table summarizes the gross and net amounts of our derivative contracts:
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, 2023
Derivative assets$28 $(12)$16 $(1)$15 
Derivative liabilities(14)12 (2)1 (1)
April 30, 2024
Derivative assets12 (3)9 — 9 
Derivative liabilities(4)3 (1)— (1)
No cash collateral was received or pledged related to our derivative contracts as of April 30, 2023 or 2024.
v3.24.1.1.u2
Fair Value Measurements
 12 Months Ended
Apr. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements air Value Measurements
The following table summarizes the assets and liabilities measured or disclosed at fair value on a recurring basis:
 20232024
April 30,Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Assets:
Cash and cash equivalents$374 $374 $446 $446 
Currency derivatives16 16 9 9 
Liabilities:
Currency derivatives2 2 1 1 
Contingent consideration
63 63 69 69 
Short-term borrowings235 235 428 428 
Long-term debt (including current portion)2,678 2,556 2,672 2,468 
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 on 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 supported by little or no market activity.
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 spot exchange rates, forward exchange rates, and interest rates. These fair value measurements are categorized as Level 2 within the valuation hierarchy.
We determine the fair value of long-term debt primarily based on the prices at which identical or similar debt has recently traded in the market and also considering the overall market conditions on the date of valuation. These fair value measurements are categorized as Level 2 within the valuation hierarchy.
The fair values 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 our contingent consideration liability using a Monte Carlo simulation model, which requires the use of Level 3 inputs, such as projected future net sales, discount rates, and volatility rates. Changes in any of these Level 3 inputs could result in material changes to the fair value of the contingent consideration and could materially impact the amount of non-cash expense (or income) recorded each reporting period.
The following table shows the changes in our contingent consideration liability:
Balance as of April 30, 2022
$— 
Acquisition of business (Note 13)
56 
Foreign currency translation adjustment7 
Balance as of April 30, 2023
63 
Purchase accounting adjustment (Note 13)
(1)
Change in fair value1
9 
Foreign currency translation adjustment
(2)
Balance as of April 30, 2024
$69 
1Classified as “other expense (income), net” in the accompanying consolidated statement of operations.
See Note 13 for additional information about the contingent consideration liability.
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). We recognized non-cash impairment charges of $52 and $96 related to the Finlandia brand name during fiscal 2022 and 2023, respectively. The impairment charges were based on the estimated fair value of the brand name, which we determined using the relief-from-royalty method. As discussed in Note 13, we also used the relief-from-royalty method to determine fair values in connection with our accounting for business combinations. The fair value measurements determined using this method are categorized as Level 3 within the valuation hierarchy. No other material nonrecurring fair value measurements were required during the periods presented in these financial statements.
v3.24.1.1.u2
Leases
 12 Months Ended
Apr. 30, 2024
Leases [Abstract]  
Leases Leases
We enter into lease arrangements, which we use primarily for office space, vehicles, and land. Substantially all of our leases are operating leases. Our finance leases are not material.
We record lease liabilities and right-of-use (ROU) assets on our balance sheet for leases with terms exceeding 12 months. We do not record lease liabilities or ROU assets for short-term leases. The amounts recorded for lease liabilities and ROU assets are based on the estimated present value, as of the lease commencement date, of the future payments to be made over the lease term. We calculate the present value using our incremental borrowing rate that corresponds to the term of the lease. We include the effect of an option to renew or terminate a lease in the lease term when it is reasonably certain that we will exercise the option.
Some of our leases contain non-lease components (e.g., maintenance or other services) in addition to lease components. We have elected the practical expedient not to separate the non-lease components from the lease components.
The following table shows information about our leases as of the end of the last two years:
Balance Sheet ClassificationApril 30,
2023		April 30,
2024
Right-of-use assetsOther assets$84 $96 
Lease liabilities:
CurrentAccounts payable and accrued expenses$22 $24 
Non-currentOther liabilities63 73 
Total$85 $97 
Weighted-average discount rate3.3%4.2%
Weighted-average remaining term5.1 years5.1 years
The following table shows information about the effects of leases during each of the last three years:
202220232024
Total lease cost1
$38 $38 $51 
Cash paid for amounts included in the measurement of lease liabilities2
25 25 29 
Right-of-use assets obtained in exchange for new lease liabilities35 29 38 
1Consists primarily of operating lease cost. Other components of lease cost were not material.
2Classified within operating activities in the accompanying consolidated statements of cash flows.

The following table includes a maturity analysis of future (undiscounted) lease payments and a reconciliation of those payments to the lease liabilities recorded on our balance sheet as of April 30, 2024:
April 30,
2024
2025
$27 
2026
23 
2027
19 
2028
14 
2029
11 
Thereafter13 
Total lease payments107 
Less: Present value discount(10)
Lease liabilities$97 
v3.24.1.1.u2
Other Comprehensive Income
 12 Months Ended
Apr. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Other Comprehensive Income Other Comprehensive Income
The following table presents the components of net other comprehensive income (loss) during each of the last three years:
Pre-TaxTaxNet
Year Ended April 30, 2022
Currency translation adjustments:
Net gain (loss) on currency translation$(42)$(18)$(60)
Reclassification to earnings— — — 
Other comprehensive income (loss), net(42)(18)(60)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments76 (17)59 
Reclassification to earnings1
(7)1 (6)
Other comprehensive income (loss), net69 (16)53 
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost67 (16)51 
Reclassification to earnings2
34 (8)26 
Other comprehensive income (loss), net101 (24)77 
Total other comprehensive income (loss), net$128 $(58)$70 
Year Ended April 30, 2023
Currency translation adjustments:
Net gain (loss) on currency translation$135 $— $135 
Reclassification to earnings— — — 
Other comprehensive income (loss), net135 — 135 
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments3 (1)2 
Reclassification to earnings1
(37)8 (29)
Other comprehensive income (loss), net(34)7 (27)
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost(26)6 (20)
Reclassification to earnings2
38 (9)29 
Other comprehensive income (loss), net12 (3)9 
Total other comprehensive income (loss), net$113 $4 $117 
Year Ended April 30, 2024
Currency translation adjustments:
Net gain (loss) on currency translation$(16)$(1)$(17)
Reclassification to earnings3
4 6 10 
Other comprehensive income (loss), net(12)5 (7)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments11 (2)9 
Reclassification to earnings1
(12)3 (9)
Other comprehensive income (loss), net(1)1 — 
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost22 (5)17 
Reclassification to earnings2
6 (2)4 
Other comprehensive income (loss), net28 (7)21 
Total other comprehensive income (loss), net$15 $(1)$14 
1For 2022, $(2) of the pre-tax amount of $(7) is classified in other expense (income) in the accompanying consolidated statements of operations. Otherwise, the pre-tax amount for each year is classified as sales.
2Pre-tax amount is classified as non-operating postretirement expense in the accompanying consolidated statements of operations.
3Pre-tax amount is classified in gain on business divestitures in the accompanying consolidated statements of operations.
v3.24.1.1.u2
Supplemental Information
 12 Months Ended
Apr. 30, 2024
Segment Reporting [Abstract]  
Supplemental Information Supplemental Information
The following table presents net sales by geography: 
202220232024
United States
$1,917 $1,968 $1,889 
Mexico
178 244 290 
Germany
228 239 263 
Australia
219 221 204 
United Kingdom
218 207 185 
Other
1,173 1,349 1,348 
Total net sales
$3,933 $4,228 $4,178 

Net sales are attributed to countries based on where customers are located. See Note 9 for additional information about net sales, including net sales by product category.
Our two largest customers accounted for 14% and 12% of consolidated net sales in 2022; 14% and 12% of consolidated net sales in 2023; and 13% and 11% of consolidated net sales in 2024.
The net book value of property, plant, and equipment located outside the United States was $204 and $255 as of April 30, 2023 and 2024, respectively. Other long-lived assets located outside the United States are not significant.
We have concluded that our business constitutes a single operating segment.
v3.24.1.1.u2
Schedule II - Valuation and Qualifying Accounts
 12 Months Ended
Apr. 30, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
Schedule II – Valuation and Qualifying Accounts
For the Years Ended April 30, 2022, 2023, and 2024
(Expressed in millions)
 
Col. ACol. BCol. C(1)Col. C(2)Col. DCol. E
DescriptionBalance at
Beginning
of Period		Additions
Charged to
Costs and
Expenses		Additions
Charged to
Other
Accounts		DeductionsBalance
at End
of Period
2022
Allowance for doubtful accounts$7 $7 $— $1 
(1)
$13 
Deferred tax valuation allowance$20 $8 $— $1 $27 
2023
Allowance for doubtful accounts$13 $— $— $6 
(1)
$7 
Deferred tax valuation allowance$27 $4 $— $17 $14 
2024
Allowance for doubtful accounts$7 $1 $— $— $8 
Deferred tax valuation allowance$14 $2 $2 $2 $16 
 
(1)Doubtful accounts written off, net of recoveries.
v3.24.1.1.u2
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Pay vs Performance Disclosure      
Net income $ 1,024 $ 783 $ 838
v3.24.1.1.u2
Insider Trading Arrangements
 3 Months Ended
Apr. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.1.1.u2
Accounting Policies (Policies)
 12 Months Ended
Apr. 30, 2024
Accounting Policies [Abstract]  
Principles of consolidation
Principles of consolidation. Our consolidated financial statements include the accounts of all subsidiaries in which we have a controlling financial interest. We use the equity method to account for investments in entities that we do not control but over whose operating and financial policies we have the ability to exercise significant influence. We eliminate all intercompany transactions.
Estimates
Estimates. To prepare financial statements that conform with GAAP, our management must make informed estimates that affect how we report revenues, expenses, assets, and liabilities, including contingent assets and liabilities. Actual results could differ from these estimates.
Cash equivalents
Cash equivalents. Cash equivalents include bank demand deposits and all highly liquid investments with original maturities of three months or less.
Accounts receivable
Accounts receivable. Accounts receivable are recorded net of an allowance for expected credit losses (allowance for doubtful accounts). We determine the allowance using information such as customer credit history and financial condition, historical loss experience, and macroeconomic factors. We write off account balances against the allowance when we have exhausted our collection efforts. The allowance for doubtful accounts was $7 and $8 at April 30, 2023 and 2024, respectively.
Inventories
Inventories. Inventories are valued at the lower of cost or net realizable value. Approximately 49% of our consolidated inventories are valued using the last-in, first-out (LIFO) cost method, which we use for the majority of our U.S. inventories. We value the remainder of our inventories primarily using the first-in, first-out (FIFO) cost method. FIFO cost approximates current replacement cost. If we had used the FIFO method for all inventories, they would have been $429 and $512 higher than reported at April 30, 2023 and 2024, respectively.
Because we age most of our whiskeys in barrels for three years or more, we bottle and sell only a portion of our whiskey inventory each year. Following industry practice, we classify all barreled whiskey as a current asset. We include warehousing, insurance, ad valorem taxes, and other carrying charges applicable to barreled whiskey in inventory costs.
We classify agave inventories, bulk tequila, barreled rum, and liquid in bottling tanks as work in process.
Property, plant, and equipment
Property, plant, and equipment. We state property, plant, and equipment at cost less accumulated depreciation. We calculate depreciation on a straight-line basis using our estimates of useful life, which are 20–40 years for buildings and improvements; 3–10 years for machinery, equipment, vehicles, furniture, and fixtures; and 3–7 years for capitalized software.
We assess our property, plant, and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of those assets may not be recoverable. When we do not expect to recover the carrying value of an asset (or asset group) through undiscounted future cash flows, we write it down to its estimated fair value. We determine fair value using discounted estimated future cash flows, considering market values for similar assets when available.
When we retire or dispose of property, plant, and equipment, we remove its cost and accumulated depreciation from our balance sheet and reflect any gain or loss in operating income. We expense the costs of repairing and maintaining our property, plant, and equipment as we incur them.
Goodwill and other intangible assets
Goodwill and other intangible assets. When we acquire a business, we first allocate the purchase price to identifiable assets and liabilities, including intangible brand names and trademarks (“brand names”), based on estimated fair value. We then record any remaining purchase price as goodwill. We do not amortize goodwill or other intangible assets with indefinite lives. We consider all of our brand names to have indefinite lives.
We assess our goodwill and other indefinite-lived intangible assets for impairment at least annually, or more frequently if circumstances indicate the carrying amount may be impaired. Goodwill is impaired when the carrying amount of the related reporting unit exceeds its estimated fair value, in which case we write down the goodwill by the amount of the excess (limited to the carrying amount of the goodwill). We estimate the reporting unit's fair value using discounted estimated future cash flows or market information. Similarly, a brand name is impaired when its carrying amount exceeds its estimated fair value, in which case we write down the brand name to its estimated fair value. We estimate the fair value of a brand name using the relief-from-
royalty method. We also consider market values for similar assets when available. Considerable management judgment is necessary to estimate fair value, including the selection of assumptions about future cash flows, net sales, discount rates, and royalty rates.
We have the option, before quantifying the fair value of a reporting unit or brand name, to evaluate qualitative factors to assess whether it is more likely than not that our goodwill or brand names are impaired. If we determine that is not the case, then we are not required to quantify the fair value. That assessment also takes considerable management judgment.
Revenue recognition
Revenue recognition. Our net sales predominantly reflect global sales of beverage alcohol consumer products. We sell these products under contracts with different types of customers, depending on the market. The customer is most often a distributor, wholesaler, or retailer.
Each contract typically includes a single performance obligation to transfer control of the products to the customer. Depending on the contract, control is transferred when the products are either shipped or delivered to the customer, at which point we recognize the transaction price for those products as net sales. The transaction price recognized at that point reflects our estimate of the consideration to be received in exchange for the products. The actual amount may ultimately differ due to the effect of various customer incentives and trade promotion activities. In making our estimates, we consider our historical experience and current expectations, as applicable. Subsequent adjustments recognized for changes in estimated transaction prices are typically not material.
Net sales exclude taxes we collect from customers that are imposed by various governments on our sales, and are reduced by payments to customers unless made in exchange for distinct goods or services with fair values approximating the payments. Net sales include any amounts we bill customers for shipping and handling activities related to the products. We recognize the cost of those activities in cost of sales during the same period in which we recognize the related net sales. Sales returns, which are permitted only in limited situations, are not material. Customer payment terms generally range from 30 to 90 days. There are no significant amounts of contract assets or liabilities.
Cost of sales
Cost of sales. Cost of sales includes the costs of receiving, producing, inspecting, warehousing, insuring, and shipping goods sold during the period.
Advertising costs
Advertising costs. We expense the production costs of advertising when the advertisements first take place. We expense all other advertising costs during the year in which the costs are incurred.
Selling, general, and administrative expenses
Selling, general, and administrative expenses. Selling, general, and administrative expenses include the costs associated with our sales force, administrative staff and facilities, and other expenses related to our non-manufacturing functions.
Stock-based compensation
Stock-based compensation. We use stock-based awards as part of our incentive compensation for eligible employees and directors. We recognize the grant-date fair value of an award as compensation expense on a straight-line basis over the requisite service period, which typically corresponds to the vesting period for the award. Upon forfeiture of an award prior to vesting, we reverse any previously recognized compensation expense related to that award. We classify stock-based compensation expense within selling, general, and administrative expenses.
As we recognize compensation expense for a stock-based award, we concurrently recognize a related deferred tax asset. The subsequent vesting or exercise of the award will generally result in an actual tax benefit that differs from the deferred tax asset that had been recorded. The excess (deficiency) of the actual tax benefit over (under) the previously recorded tax asset is recognized as income tax benefit (expense) on the date of vesting or exercise.
Income taxes
Income taxes. We base our annual provision for income taxes on the pre-tax income reflected in our consolidated statement of operations. We establish deferred tax liabilities or assets for temporary differences between GAAP and tax reporting bases and later adjust them to reflect changes in tax rates expected to be in effect when the temporary differences reverse. We record a valuation allowance as necessary to reduce a deferred tax asset to the amount that we believe is more likely than not to be realized. We do not provide deferred income taxes on undistributed earnings of foreign subsidiaries that we expect to indefinitely reinvest. We record a deferred tax charge in prepaid taxes for the difference between GAAP and tax reporting bases with respect to the elimination of intercompany profit in ending inventory.
We assess our uncertain income tax positions in two steps. First, we evaluate whether the tax position will more likely than not, based on its technical merits, be sustained upon examination, including resolution of any related appeals or litigation. For a tax position that does not meet this first criterion, we recognize no tax benefit. For a tax position that does meet the first criterion, we recognize a tax benefit in an amount equal to the largest amount of benefit that we believe has more than a 50% likelihood of being realized upon ultimate resolution. We record interest and penalties on uncertain tax positions as income tax expense.
Foreign currency transactions and translation
Foreign currency transactions and translation. We report all gains and losses from foreign currency transactions (those denominated in a currency other than the entity's functional currency) in current income. The U.S. dollar is the functional currency for most of our consolidated entities. The local currency is the functional currency for some of our consolidated foreign entities. We translate the financial statements of those foreign entities into U.S. dollars, using the exchange rate in effect at the balance sheet date to translate assets and liabilities, and using the average exchange rate for the reporting period to translate income and expenses. We record the resulting translation adjustments in other comprehensive income (loss).
Accounting standards not yet adopted
Accounting standards not yet adopted. In November 2023, the Financial Accounting Standards Board (FASB) issued an updated accounting standard requiring additional disclosures about significant segment expenses and other segment items. The update also requires interim disclosure of segment information that is currently required only on an annual basis. We are required to adopt the updated standard for annual disclosures beginning in fiscal 2025, and for interim disclosures in fiscal 2026, with earlier adoption permitted. The update is to be applied retroactively.
In December 2023, FASB issued an updated accounting standard requiring additional disclosures about income taxes, primarily related to the rate reconciliation and information about income taxes paid. We are required to adopt the new guidance beginning in fiscal 2026, with earlier adoption permitted. The update can be applied either prospectively or retrospectively.
We are currently evaluating the impact that adopting these accounting standards updates will have on our disclosures.
v3.24.1.1.u2
Derivative Financial Instruments and Hedging Activities (Policies)
 12 Months Ended
Apr. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Classification of Cash Flows Related to Cash Flow Hedges [Policy Text Block]
In our statements 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 (that is, those with a remaining term of 12 months or less) with the same counterparty on a net basis in our balance sheets. Similarly, we present the fair values of noncurrent derivatives with the same counterparty on a net basis. We do not net current derivatives with noncurrent derivatives in our balance sheets.
v3.24.1.1.u2
Leases Leases (Policies)
 12 Months Ended
Apr. 30, 2024
Leases [Abstract]  
Lessee, Leases [Policy Text Block]
We record lease liabilities and right-of-use (ROU) assets on our balance sheet for leases with terms exceeding 12 months. We do not record lease liabilities or ROU assets for short-term leases. The amounts recorded for lease liabilities and ROU assets are based on the estimated present value, as of the lease commencement date, of the future payments to be made over the lease term. We calculate the present value using our incremental borrowing rate that corresponds to the term of the lease. We include the effect of an option to renew or terminate a lease in the lease term when it is reasonably certain that we will exercise the option.
Some of our leases contain non-lease components (e.g., maintenance or other services) in addition to lease components. We have elected the practical expedient not to separate the non-lease components from the lease components.
v3.24.1.1.u2
Balance Sheet Information (Tables)
 12 Months Ended
Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental information on year end balance sheets
Supplemental information on our year-end balance sheets is as follows:
April 30,20232024
Other current assets:
Prepaid taxes$122 $100 
Other167 165 
$289 $265 
Property, plant, and equipment:
Land$97 $49 
Buildings717 782 
Equipment889 928 
Construction in process217 181 
1,920 1,940 
Less accumulated depreciation889 866 
$1,031 $1,074 
Accounts payable and accrued expenses:
Accounts payable, trade$308 $267 
Accrued expenses:
Advertising, promotion, and discounts216 200 
Compensation and commissions106 105 
Excise and other non-income taxes76 67 
Other121 154 
519 526 
$827 $793 
Other liabilities:
Contingent consideration
$63 $69 
Other190 174 
$253 $243 
Accumulated other comprehensive income (loss), net of tax:
Currency translation adjustments$(104)$(111)
Cash flow hedge adjustments10 10 
Postretirement benefits adjustments(141)(120)
$(235)$(221)
v3.24.1.1.u2
Earnings Per Share (Tables)
 12 Months Ended
Apr. 30, 2024
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: 
202220232024
Net income available to common stockholders$838 $783 $1,024 
Share data (in thousands):
Basic average common shares outstanding478,879 479,155 476,394 
Dilutive effect of stock-based awards1,686 1,310 826 
Diluted average common shares outstanding480,565 480,465 477,220 
Basic earnings per share$1.75 $1.63 $2.15 
Diluted earnings per share$1.74 $1.63 $2.14 
v3.24.1.1.u2
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill [Table Text Block]
The following table shows the changes in goodwill (which include no accumulated impairment losses) and other intangible assets over the past two years: 
GoodwillOther Intangible Assets
Balance as of April 30, 2022
$761 $586 
Business acquisitions (Note 13)
652 619 
Foreign currency translation adjustment44 55 
Impairment— (96)
Balance as of April 30, 2023
1,457 1,164 
Purchase accounting adjustments (Note 13)
40 (53)
Business divestitures (Note 14)
(28)(89)
Foreign currency translation adjustment(14)(25)
Impairment— (7)
Balance as of April 30, 2024
$1,455 $990 
v3.24.1.1.u2
Debt and Credit Facilities (Tables)
 12 Months Ended
Apr. 30, 2024
Debt Disclosure [Abstract]  
Schedule of long-term debt
Our long-term debt (net of unamortized discounts and issuance costs) consisted of:
April 30,20232024
3.50% senior notes, $300 principal amount, due April 15, 2025
$299 $300 
1.20% senior notes, €300 principal amount, due July 7, 2026
330 321 
2.60% senior notes, £300 principal amount, due July 7, 2028
375 375 
4.75% senior notes, $650 principal amount, due April 15, 2033
642 643 
4.00% senior notes, $300 principal amount, due April 15, 2038
295 295 
3.75% senior notes, $250 principal amount, due January 15, 2043
248 248 
4.50% senior notes, $500 principal amount, due July 15, 2045
489 490 
2,678 2,672 
Less current portion— 300 
$2,678 $2,372 
Schedule of short-term debt
April 30,20232024
Commercial paper (par amount)
$235$429
Average interest rate5.17%5.49%
Average remaining days to maturity2112
v3.24.1.1.u2
Common Stock (Tables)
 12 Months Ended
Apr. 30, 2024
Class of Stock [Line Items]  
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]
The following table shows the change in outstanding common shares during each of the last three years:
(Shares in thousands)Class AClass BTotal
Balance at April 30, 2021
169,110 309,619 478,729 
Stock issued under compensation plans65 226 291 
Balance at April 30, 2022
169,175 309,845 479,020 
Stock issued under compensation plans65 231 296 
Balance at April 30, 2023
169,240 310,076 479,316 
Acquisition of treasury stock(176)(6,736)(6,912)
Stock issued under compensation plans44 152 196 
Balance at April 30, 2024
169,108 303,492 472,600 
v3.24.1.1.u2
Net Sales (Tables)
 12 Months Ended
Apr. 30, 2024
Net Sales [Abstract]  
Disaggregation of Revenue [Table Text Block]
The following table shows our net sales by geography:
202220232024
United States
$1,917 $1,968 $1,889 
Developed International1
1,137 1,183 1,158 
Emerging2
714 842 886 
Travel Retail3
104 147 158 
Non-branded and bulk4
61 88 87 
$3,933 $4,228 $4,178 
1Represents net sales of branded products to “advanced economies” as defined by the International Monetary Fund (IMF), excluding the United States. Our top developed international markets are Germany, Australia, the United Kingdom, France, Canada, and Spain.
2Represents net sales of branded products to “emerging and developing economies” as defined by the IMF. Our top emerging markets are Mexico, Poland, and Brazil.
3Represents net sales of branded products to global duty-free customers, other travel retail customers, and the U.S. military, regardless of customer location.
4Includes net sales of used barrels, contract bottling services, and non-branded bulk whiskey and wine, regardless of customer location.

The following table shows our net sales by product category:
202220232024
Whiskey1
$2,756 $2,915 $2,832 
Ready-to-Drink2
431 509 520 
Tequila3
290 320 306 
Wine4
219 206 205 
Vodka5
109 99 82 
Non-branded and bulk6
61 88 87 
Rest of portfolio7
67 91 146 
$3,933 $4,228 $4,178 
1Includes all whiskey spirits and whiskey-based flavored liqueurs. The brands included in this category are the Jack Daniel’s family of brands (excluding the “ready-to-drink” products outlined below), the Woodford Reserve family of brands, the Old Forester family of brands, The Glendronach, Glenglassaugh, Benriach, Slane Irish Whiskey, and Coopers’ Craft.
2Includes the Jack Daniel’s ready-to-drink (RTD) and ready-to-pour (RTP) products, New Mix, and other RTD/RTP products.
3Includes el Jimador, the Herradura family of brands, and other tequilas.
4Includes Korbel California Champagne and Sonoma-Cutrer wines (which was divested on April 30, 2024).
5Includes Finlandia Vodka (which was divested on November 1, 2023). Net sales for the second half of fiscal 2024 were recognized pursuant to the transition services agreement related to distribution services in certain markets.
6Includes net sales of used barrels, contract bottling services, and non-branded bulk whiskey and wine.
7Includes Diplomático, Chambord, Gin Mare, Korbel Brandy, and Fords Gin.
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Apr. 30, 2024
Retirement Benefits [Abstract]  
Change in present value of pension and other postretirement benefit obligation The following table shows how the present value of our projected benefit obligations changed during each of the last two years. 
 Pension BenefitsMedical and Life
Insurance Benefits
 2023202420232024
Obligation at beginning of year$846 $731 $43 $40 
Service cost20 18 1 — 
Interest cost32 34 1 2 
Net actuarial loss (gain)1
(21)(61)(2)(3)
Retiree contributions— — 2 3 
Benefits paid(146)(44)(5)(6)
Obligation at end of year$731 $679 $40 $36 
1 The net actuarial loss (gain) during each year was primarily attributable to changes in discount rates.
Expected benefit payments over the next 10 years Expected benefit payments (net of retiree contributions) over the next 10 years are as follows:
Pension BenefitsMedical and Life
Insurance Benefits
2025$54 $3 
202654 3 
202755 3 
202856 3 
202957 3 
2030 – 2034286 14 
Fair value of pension plan assets by category, as well as the actual and target allocations
The following table shows the fair value of pension plan assets by category as of the end of the last two years. (Fair value levels are defined in Note 16.)
 Level 1Level 2Level 3Total
April 30, 2023
Equity securities$35 $— $— $35 
Cash and temporary investments2 — — 2 
Limited partnership interest1
— — 1 1 
$37 $— $1 38 
Investments measured at net asset value:
Commingled trust funds2:
Equity funds138 
Fixed income funds330 
Real estate fund59 
Short-term investments2 
Limited partnership interests3
39 
Total$606 
April 30, 2024
Equity securities$31 $— $— $31 
Fixed income investments
— 278 — 278 
Limited partnership interest1
— — 1 1 
Pending transactions
(3)— — (3)
$28 $278 $1 307 
Investments measured at net asset value:
Commingled trust funds2:
Equity funds118 
Fixed income funds53 
Real estate fund49 
Short-term investments11 
Limited partnership interests3
38 
Total$576 
1 This limited partnership interest was initially valued at cost and has been adjusted to fair value as determined in good faith by management of the partnership using various factors, and does not meet the requirements for reporting at the net asset value (NAV). The valuation requires significant judgment due to the absence of quoted market prices and the inherent lack of liquidity. This limited partnership has a term expiring in September 2024.
2 Commingled trust fund valuations are based on the NAV of the funds as determined by the fund administrators and reviewed by us. NAV represents the underlying assets owned by the fund, minus liabilities and divided by the number of shares or units outstanding. Generally, for commingled trust funds other than real estate, redemptions are permitted daily with no notice period. The real estate fund is redeemable quarterly with 110 days' notice.
3 These limited partnership interests were initially valued at cost and have been adjusted using NAV per audited financial statements. Investments are generally not eligible for immediate redemption and have original terms averaging 10 to 13 years, although those periods may be extended.
Change in fair value of Level 3 assets
The following table shows how the fair value of the Level 3 assets changed during each of the last two years. There were no transfers of assets between Level 3 and either of the other two levels.
Level 3
Balance as of April 30, 2022
$2 
Return on assets held at end of year(1)
Balance as of April 30, 2023
1 
Return on assets held at end of year— 
Balance as of April 30, 2024
$1 
Change in fair value of pension plan Assets
The following table shows how the total fair value of all pension plan assets changed during each of the last two years. (We do not have assets set aside for postretirement medical or life insurance benefits.) 
 Pension BenefitsMedical and Life
Insurance Benefits
 2023202420232024
Assets at beginning of year$741 $606 $— $— 
Actual return on assets(7)(2)— — 
Retiree contributions— — 2 3 
Company contributions18 16 3 3 
Benefits paid(146)(44)(5)(6)
Assets at end of year$606 $576 $— $— 
Funded status of plans The following table shows the funded status of our plans.
 Pension BenefitsMedical and Life
Insurance Benefits
April 30,2023202420232024
Assets$606 $576 $— $— 
Obligations(731)(679)(40)(36)
Funded status$(125)$(103)$(40)$(36)
Funded status is recorded on the accompanying consolidated balance sheets
The funded status is recorded on the accompanying consolidated balance sheets as follows: 
 
Pension Benefits		Medical and Life
Insurance Benefits
April 30,2023202420232024
Other assets$17 $32 $— $— 
Accounts payable and accrued expenses(8)(8)(3)(3)
Accrued pension and other postretirement benefits(134)(127)(37)(33)
Net liability$(125)$(103)$(40)$(36)
Accumulated other comprehensive income (loss), before tax:
Net actuarial gain (loss)$(192)$(166)$(1)$2 
Prior service credit (cost)(4)(4)2 1 
$(196)$(170)$1 $3 
Pension plans with accumulated benefit obligation in excess of plan assets
The following table compares our pension plans whose accumulated benefit obligations exceed their assets with our pension plans whose assets exceed their accumulated benefit obligations.
 Accumulated
Benefit Obligation		Plan Assets
April 30,2023202420232024
Plans with accumulated benefit obligation in excess of assets$(131)$(124)$— $— 
Plans with assets in excess of accumulated benefit obligation(524)(487)606 576 
Total$(655)$(611)$606 $576 
Pension plans with projected benefit obligation in excess of plan assets
The following table compares our pension plans whose projected benefit obligations exceed their assets with our pension plans whose assets exceed their projected benefit obligations.
 Projected
Benefit Obligation		Plan Assets
April 30,2023202420232024
Plans with projected benefit obligation in excess of assets$(190)$(135)$48 $— 
Plans with assets in excess of projected benefit obligation(541)(544)558 576 
Total$(731)$(679)$606 $576 
Pension expense The following table shows the components of the pension cost recognized during each of the last three years. The amount for each year includes amortization of the prior service cost/credit and net actuarial loss/gain included in accumulated other comprehensive loss as of the beginning of the year. 
 Pension Benefits
 202220232024
Service cost$26 $20 $18 
Interest cost22 32 34 
Expected return on assets(45)(43)(40)
Amortization of:
Prior service cost (credit)1 1 1 
Net actuarial loss (gain)23 9 6 
Settlement charge12 29 — 
Net cost$39 $48 $19 
Postretirement medical and life insurance benefit expense The following table shows the components of the postretirement medical and life insurance benefits cost that we recognized during each of the last three years. 
 Medical and Life Insurance Benefits
 202220232024
Service cost$1 $1 $— 
Interest cost1 1 2 
Amortization of:
Prior service cost (credit)(2)— — 
Net actuarial loss (gain)1 — — 
Net cost$1 $2 $2 
Amounts recognized in other comprehensive income The following table shows the pre-tax effect of these amounts on OCI during each of the last three years.
 Pension BenefitsMedical and Life
Insurance Benefits
 202220232024202220232024
Net actuarial gain (loss)$62 $(29)$20 $5 $2 $3 
Amortization reclassified to earnings:
Prior service cost (credit)1 1 1 (2)— — 
Net actuarial loss (gain)35 38 6 1 — — 
Net amount recognized in OCI$98 $10 $26 $4 $2 $3 
Assumptions used in computing benefit plan obligations The weighted-average assumptions used in computing benefit plan obligations as of the end of the last two years were as follows:
 
Pension Benefits		Medical and Life
Insurance Benefits
 2023202420232024
Discount rate4.91 %5.70 %4.86 %5.66 %
Rate of salary increase4.00 %4.00 %n/an/a
Interest crediting rate3.69 %4.79 %n/an/a
Assumptions used in computing benefit plan expense
The weighted-average assumptions used in computing benefit plan cost during each of the last three years were as follows: 
 Pension BenefitsMedical and Life
Insurance Benefits
 202220232024202220232024
Discount rate for service cost3.36 %4.52 %4.98 %3.49 %4.50 %5.02 %
Discount rate for interest cost2.34 %4.12 %4.79 %2.27 %3.96 %4.78 %
Rate of salary increase4.00 %4.00 %4.00 %n/an/an/a
Interest crediting rate3.06 %3.06 %3.69 %n/an/an/a
Expected return on plan assets6.25 %6.25 %6.50 %n/an/an/a
Assumed health care cost trend rates
The assumed health care cost trend rates as of the end of the last two years were as follows: 
 Medical and Life
Insurance Benefits
 20232024
Health care cost trend rate assumed for next year7.23 %7.13 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)4.50 %4.50 %
Year that the rate reaches the ultimate trend rate20322032
v3.24.1.1.u2
Stock-Based Compensation (Tables)
 12 Months Ended
Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Stock Appreciation Right, Activity [Table Text Block] The following table presents information about SSARs outstanding as of April 30, 2024, and for the year then ended.
Number of
SSARs
(in thousands)		Weighted-
Average
Exercise Price
per SSAR		Weighted-
Average
Remaining
Contractual
Term (years)		Aggregate
Intrinsic Value
Outstanding at April 30, 2023
4,010 $51.76 
Granted336 69.69 
Exercised(568)37.85 
Forfeited or expired(28)64.63 
Outstanding at April 30, 2024
3,750 $55.37 4.6$12 
Exercisable at April 30, 2024
2,617 $48.54 3.4$12 
Schedule of Share-Based Payment Award, Stock Appreciation Rights, Valuation Assumptions [Table Text Block] The weighted-average grant-date fair values and related valuation assumptions for the SSARS granted during each of the last three years were as follows:
202220232024
Grant-date fair value$16.61 $20.67 $21.69 
Valuation assumptions:
Expected term (years)7.07.07.0
Risk-free interest rate1.0 %2.7 %4.1 %
Expected volatility24.1 %24.8 %25.0 %
Expected dividend yield1.0 %1.0 %1.2 %
Share-Based Payment Arrangement, PBRSU, Activity [Table Text Block]
The following table presents information about PBRSUs outstanding as of April 30, 2024, and for the year then ended.
Number of
PBRSUs
(in thousands)		Weighted-
Average
Fair Value at
Grant Date
Outstanding at April 30, 2023
289 $76.33 
Granted209 $75.70 
Adjusted for performance and dividends(38)$73.56 
Converted to common shares(41)$73.56 
Forfeited(6)$77.12 
Outstanding at April 30, 2024
413 $76.53 
Schedule of Share-Based Payment Award, Performance Based Restricted Stock Units, Valuation Assumptions [Table Text Block] The following table shows the assumptions used in the Monte Carlo simulation model to value the awards granted during each of the last three fiscal years.
202220232024
Valuation assumptions:
Risk-free interest rate0.3 %2.8 %4.6 %
Expected volatility29.1 %29.8 %22.2 %
Expected dividend yield1.0 %1.0 %1.2 %
Remaining performance period (years) as of grant date2.82.82.8
Share-based Payment Arrangement, Performance Based Restricted Stock Units, Activity [Table Text Block] The following table presents information about RSUs outstanding as of April 30, 2024, and for the year then ended.
Number of
RSUs
(in thousands)		Weighted-
Average
Fair Value at
Grant Date
Outstanding at April 30, 2023— $— 
Granted89 $68.89 
Additions for dividend equivalents
1 $69.41 
Forfeited(3)$69.17 
Outstanding at April 30, 202487 $68.88 
Grant Date Fair Values of DSUs [Table Text Block] The weighted average grant-date fair values for these awards granted during each of the last three years were as follows:
202220232024
Grant-date fair value$67.35 $72.10 $71.23 
Share-based Payment Arrangement, Cost by Plan [Table Text Block] The pre-tax stock-based compensation expense and related deferred income tax benefits recognized during the last three fiscal years were as follows:
202220232024
Pre-tax compensation expense$15 $18 $25 
Deferred tax benefit2 3 3 
Stock-Based Awards, Other Information [Table Text Block] Further information related to our stock-based awards for the last three years is as follows:
202220232024
Intrinsic value of SSARs exercised$23 $19 $12 
Fair value of shares vested7 6 4 
Excess tax benefit from exercise / vesting of awards6 4 2 
v3.24.1.1.u2
Income Taxes (Tables)
 12 Months Ended
Apr. 30, 2024
Income Tax Disclosure [Abstract]  
Domestic and Foreign income before Income taxes The following table, based on the locations of the taxable entities from which sales were derived (rather than the location of customers), presents the U.S. and foreign components of our income before income taxes:
202220232024
United States$954 $841 $917 
Foreign160 176 381 
$1,114 $1,017 $1,298 
Total income tax expense Our total income tax expense for each of the last three years was as follows:
202220232024
Current:
U.S. federal$205 $157 $150 
Foreign64 46 81 
State and local18 34 25 
287 237 256 
Deferred:
U.S. federal1 (4)16 
Foreign(9)6 (5)
State and local(3)(5)7 
(11)(3)18 
$276 $234 $274 
Reconciles our effective tax rate to the federal statutory tax rate in the United States The following table reconciles our effective tax rate to the federal statutory tax rate in the United States: 
 Percent of Income Before Taxes
 202220232024
U.S. federal statutory rate21.0 %21.0 %21.0 %
State taxes, net of U.S. federal tax benefit1.0 %2.5 %1.3 %
Income taxed at other than U.S. federal statutory rate1.3 %3.0 %0.5 %
Prior intercompany sales taxed at higher than current U.S. federal statutory rate2.0 %1.0 %— %
Tax benefit from foreign-derived sales(1.8 %)(3.0 %)(1.7)%
Business divestitures
— %— %(0.7)%
Adjustments related to prior years0.7 %(0.5 %)— %
Excess tax benefits from stock-based awards(0.5 %)(0.3 %)(0.1)%
Tax rate changes0.4 %— %0.4 %
Valuation allowance— %(1.3 %)0.1 %
Other, net0.7 %0.6 %0.4 %
Effective rate24.8 %23.0 %21.2 %
Deferred tax assets and liabilities
Deferred tax assets and liabilities as of the end of each of the last two years were as follows:
April 30,20232024
Deferred tax assets:
Postretirement and other benefits$75 $65 
Accrued liabilities and other35 47 
Inventories26 26 
Lease liabilities23 27 
Loss and credit carryforwards62 65 
Total deferred tax assets221 230 
Valuation allowance(14)(16)
Total deferred tax assets, net of valuation allowance207 214 
Deferred tax liabilities:
Intangible assets(323)(295)
Property, plant, and equipment(98)(93)
Right-of-use assets(23)(27)
Derivative instruments(3)(3)
Equity method investments
— (37)
Other(17)(5)
Total deferred tax liabilities(464)(460)
Net deferred tax liability$(257)$(246)
Loss carryforwards and valuation allowances
Details of the loss and credit carryforwards and related valuation allowances as of the end of each of the last two years are as follows:
April 30, 2023April 30, 2024
Gross AmountDeferred Tax AssetValuation AllowanceGross AmountDeferred Tax AssetValuation Allowance
U.S.$111 $20 $(6)$110 $38 
1
$(7)
Foreign216 42 (8)161 27 
2
(9)
$327 $62 $(14)$271 $65 $(16)
1As of April 30, 2024, the deferred tax asset amount includes credit carryforwards of $28 that do not expire and loss and credit carryforwards of $10 that expire in varying amounts from 2025 to 2039.
2As of April 30, 2024, the deferred tax asset includes loss carryforwards of $25 that do not expire and $2 that expire in varying amounts over the next 10 years.
Reconciliation of ending and beginning unrecognized tax benefits A reconciliation of the beginning and ending unrecognized tax benefits follows: 
202220232024
Unrecognized tax benefits at beginning of year$12 $14 $21 
Additions for tax positions provided in prior periods2 8 1 
Additions for tax positions provided in current period2 3 2 
Decreases for tax positions provided in prior years— — (3)
Settlements of tax positions in the current period— — (3)
Lapse of statutes of limitations(2)(4)(4)
Unrecognized tax benefits at end of year$14 $21 $14 
v3.24.1.1.u2
Acquisitions (Tables)
 12 Months Ended
Apr. 30, 2024
Business Acquisition [Line Items]  
Business Combination, Separately Recognized Transactions [Table] The following table shows the classification of the transaction expenses in the accompanying consolidated statement of operations.
2023
Selling, general, and administrative expenses$11 
Other expense (income), net44 
Total transaction expenses$55 
Gin Mare  
Business Acquisition [Line Items]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
We have allocated the purchase price of the Gin Mare acquisition based on management’s estimates and independent valuations as follows:
Prior Allocation1
Adjustments
Final Allocation
Trademarks and brand names (indefinite-lived)$307 $(24)$283 
Goodwill289 17 306 
Total assets596 (7)589 
Deferred tax liabilities72 (6)66 
Net assets acquired$524 $(1)$523 
1As reported in Note 12 to our consolidated financial statements in our 2023 Form 10-K.
Diplomatico  
Business Acquisition [Line Items]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
We have allocated the purchase price of the Diplomático acquisition based on management’s estimates and independent valuations as follows:
Prior Allocation1
Adjustments
Final Allocation
Accounts receivable$11 $— $11 
Inventories36 (2)34 
Other current assets25 — 25 
Property, plant, and equipment38 — 38 
Trademarks and brand names (indefinite-lived)312 (29)283 
Goodwill363 23 386 
Other assets2 — 2 
Total assets787 (8)779 
Accounts payable and accrued expenses13 1 14 
Deferred tax liabilities45 (5)40 
Other liabilities2 — 2 
Total liabilities60 (4)56 
Net assets acquired$727 $(4)$723 
1As reported in Note 12 to our consolidated financial statements in our 2023 Form 10-K.
v3.24.1.1.u2
Divestitures (Tables)
 12 Months Ended
Apr. 30, 2024
Finlandia  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Gain on Sale of Business
Cash proceeds
$196 
Net carrying amount of assets and liabilities sold(100)
Amounts reclassified from AOCI:
Cumulative translation losses(30)
Net investment hedge gain (Note 15)26 
Pre-tax gain on divestiture of Finlandia
$92 
Sonoma-Cutrer  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Gain on Sale of Business
Cash proceeds
$50 
Fair value of equity interest in Duckhorn
267 
Total consideration received
317 
Net carrying amount of assets and liabilities sold(142)
Pre-tax gain on divestiture of Sonoma-Cutrer
$175 
Disposal Groups, Including Discontinued Operations
Inventories$56 
Property, plant, and equipment83 
Goodwill18 
Other assets1 
Total assets sold158 
Accounts payable and accrued expenses3 
Deferred tax liabilities12 
Other liabilities1 
Total liabilities sold16 
Net assets sold$142 
v3.24.1.1.u2
Derivative Financial Instruments and Hedging Activities (Tables)
 12 Months Ended
Apr. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of derivative instruments affecting statements of operations
The following table presents the pre-tax impact that changes in the fair value of our derivative instruments and non-derivative hedging instruments had on AOCI and earnings during each of the last three years:
Classification in Statement of Operations202220232024
Currency derivatives designated as cash flow hedges:
Net gain (loss) recognized in AOCIn/a$76 $4 $11 
Net gain (loss) reclassified from AOCI into earningsSales5 37 12 
Net gain (loss) reclassified from AOCI into earningsOther income (expense), net2 — — 
Interest rate derivatives designated as cash flow hedges:
Net gain (loss) recognized in AOCIn/a— (1)— 
Currency derivatives not designated as hedging instruments:
Net gain (loss) recognized in earningsSales12 (1)— 
Net gain (loss) recognized in earningsOther income (expense), net5 16 8 
Foreign currency-denominated debt designated as net investment hedge:
Net gain (loss) recognized in AOCIn/a78 3 3 
Net gain (loss) reclassified from AOCI to earnings
Gain on business divestitures
— — 26 
Total amounts presented in the accompanying consolidated statements of operations for line items affected by the net gains (losses) shown above:
Sales5,081 5,372 5,328 
Other income (expense), net(59)(119)(24)
Schedule of fair values of derivative instruments
The following table presents the fair values of our derivative instruments as of April 30, 2023 and 2024:
Balance Sheet ClassificationDerivative AssetsDerivative Liabilities
April 30, 2023
Designated as cash flow hedges:
Currency derivativesOther current assets$20 $(11)
Currency derivativesOther assets5 (1)
Currency derivativesAccrued expenses— (1)
Currency derivativesOther liabilities— (1)
Not designated as hedges:
Currency derivativesOther current assets3 — 
April 30, 2024
Designated as cash flow hedges:
Currency derivativesOther current assets11 (2)
Currency derivativesOther assets1 (1)
Not designated as hedges:
Currency derivativesAccrued expenses— (1)
Offsetting Assets and Liabilities [Table Text Block]
The following table summarizes the gross and net amounts of our derivative contracts:
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, 2023
Derivative assets$28 $(12)$16 $(1)$15 
Derivative liabilities(14)12 (2)1 (1)
April 30, 2024
Derivative assets12 (3)9 — 9 
Derivative liabilities(4)3 (1)— (1)
v3.24.1.1.u2
Fair Value Measurements (Tables)
 12 Months Ended
Apr. 30, 2024
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:
 20232024
April 30,Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Assets:
Cash and cash equivalents$374 $374 $446 $446 
Currency derivatives16 16 9 9 
Liabilities:
Currency derivatives2 2 1 1 
Contingent consideration
63 63 69 69 
Short-term borrowings235 235 428 428 
Long-term debt (including current portion)2,678 2,556 2,672 2,468 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table shows the changes in our contingent consideration liability:
Balance as of April 30, 2022
$— 
Acquisition of business (Note 13)
56 
Foreign currency translation adjustment7 
Balance as of April 30, 2023
63 
Purchase accounting adjustment (Note 13)
(1)
Change in fair value1
9 
Foreign currency translation adjustment
(2)
Balance as of April 30, 2024
$69 
1Classified as “other expense (income), net” in the accompanying consolidated statement of operations.
v3.24.1.1.u2
Leases Leases (Tables)
 12 Months Ended
Apr. 30, 2024
Leases [Abstract]  
ROU Assets and Lease Liabilities [Table Text Block]
The following table shows information about our leases as of the end of the last two years:
Balance Sheet ClassificationApril 30,
2023		April 30,
2024
Right-of-use assetsOther assets$84 $96 
Lease liabilities:
CurrentAccounts payable and accrued expenses$22 $24 
Non-currentOther liabilities63 73 
Total$85 $97 
Weighted-average discount rate3.3%4.2%
Weighted-average remaining term5.1 years5.1 years
Lease Cost and Other Lease Information [Table Text Block]
The following table shows information about the effects of leases during each of the last three years:
202220232024
Total lease cost1
$38 $38 $51 
Cash paid for amounts included in the measurement of lease liabilities2
25 25 29 
Right-of-use assets obtained in exchange for new lease liabilities35 29 38 
1Consists primarily of operating lease cost. Other components of lease cost were not material.
2Classified within operating activities in the accompanying consolidated statements of cash flows.
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The following table includes a maturity analysis of future (undiscounted) lease payments and a reconciliation of those payments to the lease liabilities recorded on our balance sheet as of April 30, 2024:
April 30,
2024
2025
$27 
2026
23 
2027
19 
2028
14 
2029
11 
Thereafter13 
Total lease payments107 
Less: Present value discount(10)
Lease liabilities$97 
v3.24.1.1.u2
Other Comprehensive Income (Tables)
 12 Months Ended
Apr. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Comprehensive Income (Loss) [Table Text Block]
The following table presents the components of net other comprehensive income (loss) during each of the last three years:
Pre-TaxTaxNet
Year Ended April 30, 2022
Currency translation adjustments:
Net gain (loss) on currency translation$(42)$(18)$(60)
Reclassification to earnings— — — 
Other comprehensive income (loss), net(42)(18)(60)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments76 (17)59 
Reclassification to earnings1
(7)1 (6)
Other comprehensive income (loss), net69 (16)53 
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost67 (16)51 
Reclassification to earnings2
34 (8)26 
Other comprehensive income (loss), net101 (24)77 
Total other comprehensive income (loss), net$128 $(58)$70 
Year Ended April 30, 2023
Currency translation adjustments:
Net gain (loss) on currency translation$135 $— $135 
Reclassification to earnings— — — 
Other comprehensive income (loss), net135 — 135 
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments3 (1)2 
Reclassification to earnings1
(37)8 (29)
Other comprehensive income (loss), net(34)7 (27)
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost(26)6 (20)
Reclassification to earnings2
38 (9)29 
Other comprehensive income (loss), net12 (3)9 
Total other comprehensive income (loss), net$113 $4 $117 
Year Ended April 30, 2024
Currency translation adjustments:
Net gain (loss) on currency translation$(16)$(1)$(17)
Reclassification to earnings3
4 6 10 
Other comprehensive income (loss), net(12)5 (7)
Cash flow hedge adjustments:
Net gain (loss) on hedging instruments11 (2)9 
Reclassification to earnings1
(12)3 (9)
Other comprehensive income (loss), net(1)1 — 
Postretirement benefits adjustments:
Net actuarial gain (loss) and prior service cost22 (5)17 
Reclassification to earnings2
6 (2)4 
Other comprehensive income (loss), net28 (7)21 
Total other comprehensive income (loss), net$15 $(1)$14 
1For 2022, $(2) of the pre-tax amount of $(7) is classified in other expense (income) in the accompanying consolidated statements of operations. Otherwise, the pre-tax amount for each year is classified as sales.
2Pre-tax amount is classified as non-operating postretirement expense in the accompanying consolidated statements of operations.
3Pre-tax amount is classified in gain on business divestitures in the accompanying consolidated statements of operations.
v3.24.1.1.u2
Supplemental Information (Tables)
 12 Months Ended
Apr. 30, 2024
Segment Reporting [Abstract]  
Net sales by geography
The following table presents net sales by geography: 
202220232024
United States
$1,917 $1,968 $1,889 
Mexico
178 244 290 
Germany
228 239 263 
Australia
219 221 204 
United Kingdom
218 207 185 
Other
1,173 1,349 1,348 
Total net sales
$3,933 $4,228 $4,178 
v3.24.1.1.u2
Accounting Policies Allowance for Doubtful Accounts (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Allowance for Doubtful Accounts [Abstract]    
Accounts Receivable, Allowance for Credit Loss, Current $ 8 $ 7
v3.24.1.1.u2
Accounting Policies (Textual) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Accounting Policies (Textual) [Abstract]    
Inventories valued using LIFO method (percent) 49.00%  
FIFO method value of inventory in excess of reported $ 512 $ 429
Minimum [Member] | Building Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Estimated useful life (years) 20 years  
Minimum [Member] | Machinery and Equipment [Member]    
Property, Plant and Equipment [Line Items]    
Estimated useful life (years) 3 years  
Minimum [Member] | Software [Member]    
Property, Plant and Equipment [Line Items]    
Estimated useful life (years) 3 years  
Maximum [Member] | Building Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Estimated useful life (years) 40 years  
Maximum [Member] | Machinery and Equipment [Member]    
Property, Plant and Equipment [Line Items]    
Estimated useful life (years) 10 years  
Maximum [Member] | Software [Member]    
Property, Plant and Equipment [Line Items]    
Estimated useful life (years) 7 years  
v3.24.1.1.u2
Accounting Policies Revenue recognition policy (Details)
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Revenue recognition policy [Abstract]    
Revenue, Transaction Price Measurement, Tax Exclusion [true false] true true
v3.24.1.1.u2
Accounting Policies Advertising expense policy (Details)
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Revenue recognition policy [Abstract]    
Advertising Cost, Expense Method [Fixed List] Expensed first time advertising takes place Expensed first time advertising takes place
v3.24.1.1.u2
Balance Sheet Information (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Other current assets:    
Prepaid taxes $ 100 $ 122
Other 165 167
Other current assets 265 289
Property, plant, and equipment:    
Land 49 97
Buildings 782 717
Equipment 928 889
Construction in process 181 217
Property, plant and equipment, gross 1,940 1,920
Less accumulated depreciation 866 889
Property, plant, and equipment, net 1,074 1,031
Accounts payable and accrued expenses:    
Accounts payable, trade 267 308
Accrued expenses:    
Advertising, promotion, and discounts 200 216
Compensation and commissions 105 106
Excise and other non-income taxes 67 76
Other 154 121
Accrued expenses 526 519
Accounts payable and accrued expenses 793 827
Other liabilities:    
Contingent consideration 69 63
Other 174 190
Other liabilities 243 253
Accumulated other comprehensive income (loss), net of tax:    
Currency translation adjustments (111) (104)
Cash flow hedge adjustments 10 10
Postretirement benefits adjustments (120) (141)
Accumulated other comprehensive income (loss), net of tax: $ (221) $ (235)
v3.24.1.1.u2
Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Earnings Per Share [Abstract]      
Net income available to common stockholders, basic $ 1,024 $ 783 $ 838
Net income available to common stockholders, diluted $ 1,024 $ 783 $ 838
Share data (in thousands):      
Basic average common shares outstanding (shares) 476,394 479,155 478,879
Dilutive effect of stock-based awards (shares) 826 1,310 1,686
Diluted average common shares outstanding (shares) 477,220 480,465 480,565
Basic earnings per share (dollars per share) $ 2.15 $ 1.63 $ 1.75
Diluted earnings per share (dollars per share) $ 2.14 $ 1.63 $ 1.74
Antidilutive common stock-based awards excluded from calculation of diluted earnings per share (shares) 1,689 1,107 691
v3.24.1.1.u2
Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Goodwill [Roll Forward]      
Beginning balance $ 1,457 $ 761  
Business acquisitions (Note 13)   652  
Purchase accounting adjustments (Note 13) 40    
Business divestitures (Note 14) (28)    
Foreign currency translation adjustment (14) 44  
Impairment 0 0  
Ending balance 1,455 1,457 $ 761
Indefinite-lived Intangible Assets [Roll Forward]      
Beginning balance 1,164 586  
Business acquisitions (Note 13)   619  
Purchase accounting adjustments (Note 13) (53)    
Business divestitures (Note 14) (89)    
Foreign currency translation adjustment (25) 55  
Impairment (7) (96) (52)
Ending balance $ 990 $ 1,164 $ 586
v3.24.1.1.u2
Goodwill and Other Intangible Assets Impairment (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Indefinite-lived Intangible Assets [Line Items]      
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) $ 7 $ 96 $ 52
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] Other income (expense), net Other income (expense), net Other income (expense), net
v3.24.1.1.u2
Equity Method Investments (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Schedule of Equity Method Investments [Line Items]    
Equity method investments $ 270 $ 3
Duckhorn    
Schedule of Equity Method Investments [Line Items]    
Equity Method Investment, Ownership Percentage 21.40%  
Equity method investments $ 267  
v3.24.1.1.u2
Debt and Credit Facilities (Schedule of Long-Term Debt) (Details)
€ in Millions, £ in Millions, $ in Millions
 12 Months Ended
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Apr. 30, 2024
EUR (€)
Apr. 30, 2024
GBP (£)
Apr. 30, 2023
EUR (€)
Apr. 30, 2023
GBP (£)
Debt Instrument [Line Items]            
Long-term debt, including current portion $ 2,672 $ 2,678        
Current portion of long-term debt 300 0        
Long-term debt 2,372 2,678        
3.50% senior notes, due April 15, 2025 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 300 $ 300        
Debt Instrument, Maturity Date Apr. 15, 2025 Apr. 15, 2025        
Debt Instrument, Interest Rate, Stated Percentage 3.50% 3.50% 3.50% 3.50% 3.50% 3.50%
Long-term debt, including current portion $ 300 $ 299        
1.20% senior notes, due July 7, 2026 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | €     € 300   € 300  
Debt Instrument, Maturity Date Jul. 07, 2026 Jul. 07, 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 $ 321 $ 330        
2.60% senior notes, due July 7, 2028 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount | £       £ 300   £ 300
Debt Instrument, Maturity Date Jul. 07, 2028 Jul. 07, 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 $ 375 $ 375        
4.75% senior notes, due April 15, 2033 {Member}            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 650 $ 650        
Debt Instrument, Maturity Date Apr. 15, 2033 Apr. 15, 2033        
Debt Instrument, Interest Rate, Stated Percentage 4.75% 4.75% 4.75% 4.75% 4.75% 4.75%
Long-term debt, including current portion $ 643 $ 642        
4.00% senior notes, due April 15, 2038 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 300 $ 300        
Debt Instrument, Maturity Date Apr. 15, 2038 Apr. 15, 2038        
Debt Instrument, Interest Rate, Stated Percentage 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
Long-term debt, including current portion $ 295 $ 295        
3.75% senior 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% senior notes, due July 15, 2045 [Member]            
Debt Instrument [Line Items]            
Debt Instrument, Face Amount $ 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%
Long-term debt, including current portion $ 490 $ 489        
v3.24.1.1.u2
Debt and Credit Facilities (Textual) (Details)
$ in Millions
Apr. 30, 2024
USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 $ 300
2026 0
2027 322
2028 0
2029 377
After 2029 $ 1,700
v3.24.1.1.u2
Debt and Credit Facilities Short-term borrowings (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Short-Term Debt [Abstract]    
Commercial Paper $ 429 $ 235
Commercial Paper, Weighted Average Interest Rate, at Point in Time 5.49% 5.17%
Commercial Paper Borrowings, Average Remaining Maturity 12 days 21 days
v3.24.1.1.u2
Debt and Credit Facilities Credit Facilities (Details)
$ in Millions
Apr. 30, 2024
USD ($)
Line of Credit Facility [Line Items]  
Line of Credit Facility, Current Borrowing Capacity $ 900
v3.24.1.1.u2
Common Stock Rollforward of Outstanding Shares (Details) - shares
shares in Thousands
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Class of Stock [Line Items]      
Beginning balance 479,316 479,020 478,729
Acquisition of treasury stock (6,912)    
Stock issued under compensation plans 196 296 291
Ending balance 472,600 479,316 479,020
Common stock, Class A, voting [Member]      
Class of Stock [Line Items]      
Beginning balance 169,240 169,175 169,110
Acquisition of treasury stock (176)    
Stock issued under compensation plans 44 65 65
Ending balance 169,108 169,240 169,175
Common Stock, Class B, nonvoting [Member]      
Class of Stock [Line Items]      
Beginning balance 310,076 309,845 309,619
Acquisition of treasury stock (6,736)    
Stock issued under compensation plans 152 231 226
Ending balance 303,492 310,076 309,845
v3.24.1.1.u2
Net Sales by Geography (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Disaggregation of Revenue [Line Items]      
Net sales $ 4,178 $ 4,228 $ 3,933
United States      
Disaggregation of Revenue [Line Items]      
Net sales 1,889 1,968 1,917
Developed International [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [1] 1,158 1,183 1,137
Emerging [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [2] 886 842 714
Travel Retail [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [3] 158 147 104
Non-branded and bulk [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [4] $ 87 $ 88 $ 61
[1] Represents net sales of branded products to “advanced economies” as defined by the International Monetary Fund (IMF), excluding the United States. Our top developed international markets are Germany, Australia, the United Kingdom, France, Canada, and Spain.
[2] Represents net sales of branded products to “emerging and developing economies” as defined by the IMF. Our top emerging markets are Mexico, Poland, and Brazil.
[3] Represents net sales of branded products to global duty-free customers, other travel retail customers, and the U.S. military, regardless of customer location.
[4] Includes net sales of used barrels, contract bottling services, and non-branded bulk whiskey and wine, regardless of customer location.
v3.24.1.1.u2
Net Sales by Product Category (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Disaggregation of Revenue [Line Items]      
Net sales $ 4,178 $ 4,228 $ 3,933
Whiskey [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [1] 2,832 2,915 2,756
Ready-to-Drink [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [2] 520 509 431
Tequila [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [3] 306 320 290
Wine [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [4] 205 206 219
Vodka [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [5] 82 99 109
Non-branded and bulk [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [6] 87 88 61
Rest of portfolio [Member]      
Disaggregation of Revenue [Line Items]      
Net sales [7] $ 146 $ 91 $ 67
[1] Includes all whiskey spirits and whiskey-based flavored liqueurs. The brands included in this category are the Jack Daniel’s family of brands (excluding the “ready-to-drink” products outlined below), the Woodford Reserve family of brands, the Old Forester family of brands, The Glendronach, Glenglassaugh, Benriach, Slane Irish Whiskey, and Coopers’ Craft.
[2] Includes the Jack Daniel’s ready-to-drink (RTD) and ready-to-pour (RTP) products, New Mix, and other RTD/RTP products.
[3] Includes el Jimador, the Herradura family of brands, and other tequilas.
[4] Includes Korbel California Champagne and Sonoma-Cutrer wines (which was divested on April 30, 2024).
[5] Includes Finlandia Vodka (which was divested on November 1, 2023). Net sales for the second half of fiscal 2024 were recognized pursuant to the transition services agreement related to distribution services in certain markets.
[6] Includes net sales of used barrels, contract bottling services, and non-branded bulk whiskey and wine.
[7] Includes Diplomático, Chambord, Gin Mare, Korbel Brandy, and Fords Gin.
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Change in Benefit Obligation) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Pension Benefits [Member]      
Changes in present value of pension and other postretirement benefits      
Obligation at beginning of year $ 731 $ 846  
Service cost 18 20 $ 26
Interest cost 34 32 22
Net actuarial loss (gain)1 [1] (61) (21)  
Retiree contributions 0 0  
Benefits paid (44) (146)  
Obligation at end of year 679 731 846
Medical and Life Insurance Benefits [Member]      
Changes in present value of pension and other postretirement benefits      
Obligation at beginning of year 40 43  
Service cost 0 1 1
Interest cost 2 1 1
Net actuarial loss (gain)1 [1] (3) (2)  
Retiree contributions 3 2  
Benefits paid (6) (5)  
Obligation at end of year $ 36 $ 40 $ 43
[1] The net actuarial loss (gain) during each year was primarily attributable to changes in discount rates
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Expected Benefit Payments) (Details)
$ in Millions
Apr. 30, 2024
USD ($)
Pension Benefits [Member]  
Expected benefit payments over the next 10 years  
2025 $ 54
2026 54
2027 55
2028 56
2029 57
2030 – 2034 286
Medical and Life Insurance Benefits [Member]  
Expected benefit payments over the next 10 years  
2025 3
2026 3
2027 3
2028 3
2029 3
2030 – 2034 $ 14
v3.24.1.1.u2
Pension and Other Postretirement Benefits Target asset allocation (Details)
Apr. 30, 2024
Public Equity Investments [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 26.00%
Fixed Income Investments [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 59.00%
Alternative Investments [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage 15.00%
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Fair Value of Pension Plan Assets and Asset Allocations) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets $ 576 $ 606  
Level 1 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 28 37  
Level 2 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 278 0  
Level 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 1 1 $ 2
Fair Value, Inputs, Level 1, 2 and 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 307 38  
Equity Securities [Member] | Level 1 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 31 35  
Equity Securities [Member] | Level 2 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 0 0  
Equity Securities [Member] | Level 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 0 0  
Equity Securities [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 31 35  
Fixed Income Investments [Member] | Level 1 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 0    
Fixed Income Investments [Member] | Level 2 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 278    
Fixed Income Investments [Member] | Level 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 0    
Fixed Income Investments [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 278    
Cash And Temporary Investments [Member] | Level 1 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets   2  
Cash And Temporary Investments [Member] | Level 2 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets   0  
Cash And Temporary Investments [Member] | Level 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets   0  
Cash And Temporary Investments [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets   2  
Limited Partnership Interests [Member] | Level 1 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [1] 0 0  
Limited Partnership Interests [Member] | Level 2 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [1] 0 0  
Limited Partnership Interests [Member] | Level 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [1] 1 1  
Limited Partnership Interests [Member] | Fair Value, Inputs, Level 1, 2 and 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [1] 1 1  
Limited Partnership Interests [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [2] 38 39  
Pending Transactions | Level 1 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets (3)    
Pending Transactions | Level 2 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 0    
Pending Transactions | Level 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets 0    
Pending Transactions | Fair Value, Inputs, Level 1, 2 and 3 [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets (3)    
Equity Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [3] 118 138  
Fixed Income Funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [3] 53 330  
Real Estate funds [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [3] 49 59  
Short-term Investments [Member] | Fair Value Measured at Net Asset Value Per Share [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Total, Plan Assets [3] $ 11 $ 2  
[1] This limited partnership interest was initially valued at cost and has been adjusted to fair value as determined in good faith by management of the partnership using various factors, and does not meet the requirements for reporting at the net asset value (NAV). The valuation requires significant judgment due to the absence of quoted market prices and the inherent lack of liquidity. This limited partnership has a term expiring in September 2024.
[2] These limited partnership interests were initially valued at cost and have been adjusted using NAV per audited financial statements. Investments are generally not eligible for immediate redemption and have original terms averaging 10 to 13 years, although those periods may be extended.
[3] Commingled trust fund valuations are based on the NAV of the funds as determined by the fund administrators and reviewed by us. NAV represents the underlying assets owned by the fund, minus liabilities and divided by the number of shares or units outstanding. Generally, for commingled trust funds other than real estate, redemptions are permitted daily with no notice period. The real estate fund is redeemable quarterly with 110 days' notice.
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Change in Fair Value of Level 3 Assets) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Change in fair value of Level 3 Assets    
Beginning balance $ 606  
Ending balance 576 $ 606
Level 3 [Member]    
Change in fair value of Level 3 Assets    
Beginning balance 1 2
Return on assets held at end of year 0 (1)
Ending balance $ 1 $ 1
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Change in Fair Value of Pension Plan Assets) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Change in fair value of pension plan Assets    
Beginning balance $ 606  
Ending balance 576 $ 606
Pension Benefits [Member]    
Change in fair value of pension plan Assets    
Beginning balance 606 741
Actual return on assets (2) (7)
Retiree contributions 0 0
Company contributions 16 18
Benefits paid (44) (146)
Ending balance 576 606
Medical and Life Insurance Benefits [Member]    
Change in fair value of pension plan Assets    
Beginning balance 0 0
Actual return on assets 0 0
Retiree contributions 3 2
Company contributions 3 3
Benefits paid (6) (5)
Ending balance $ 0 $ 0
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Funded Status of Plans) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Funded Status of Plans      
Assets $ 576 $ 606  
Pension Benefits [Member]      
Funded Status of Plans      
Assets 576 606 $ 741
Obligations (679) (731) (846)
Funded status (103) (125)  
Medical and Life Insurance Benefits [Member]      
Funded Status of Plans      
Assets 0 0 0
Obligations (36) (40) $ (43)
Funded status $ (36) $ (40)  
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Funded Status Recorded on Accompanying Balance Sheets) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Funded status is recorded on the accompanying consolidated balance sheets    
Accrued pension and other postretirement benefits $ (160) $ (171)
Pension Benefits [Member]    
Funded status is recorded on the accompanying consolidated balance sheets    
Other assets 32 17
Accounts payable and accrued expenses (8) (8)
Accrued pension and other postretirement benefits (127) (134)
Net liability (103) (125)
Accumulated other comprehensive income (loss), before tax:    
Net actuarial gain (loss) (166) (192)
Prior service credit (cost) (4) (4)
Total (170) (196)
Medical and Life Insurance Benefits [Member]    
Funded status is recorded on the accompanying consolidated balance sheets    
Other assets 0 0
Accounts payable and accrued expenses (3) (3)
Accrued pension and other postretirement benefits (33) (37)
Net liability (36) (40)
Accumulated other comprehensive income (loss), before tax:    
Net actuarial gain (loss) 2 (1)
Prior service credit (cost) 1 2
Total $ 3 $ 1
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Plans with ABO in Excess of Plan Assets) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Total, Plan Assets $ 576 $ 606  
Pension Plan [Member]      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation (124) (131)  
Defined Benefit Plan Pension Plans With Assets In Excess Of Accumulated Benefit Obligation Aggregate Accumulated Benefit Obligation (487) (524)  
Defined Benefit Plan, Accumulated Benefit Obligation (611) (655)  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets 0 0  
Defined Benefit Plan Pension Plans With Assets In Excess Of Accumulated Benefit Obligation Aggregate Fair Value Of Plan Assets 576 606  
Total, Plan Assets $ 576 $ 606 $ 741
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Plans with PBO in Excess of Plan Assets) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Total, Plan Assets $ 576 $ 606  
Pension Plan [Member]      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation (135) (190)  
Defined Benefit Plan, Pension Plan with Plan Assets in Excess of Projected Benefit Obligation, Projected Benefit Obligation (544) (541)  
Defined Benefit Plan, Benefit Obligation (679) (731) $ (846)
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets 0 48  
Defined Benefit Plan, Pension Plan with Plan Assets in Excess of Projected Benefit Obligation, Plan Assets 576 558  
Total, Plan Assets $ 576 $ 606 $ 741
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Schedule of Components of Pension Expense) (Details) - Pension Benefits [Member] - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Pension Expense      
Service cost $ 18 $ 20 $ 26
Interest cost 34 32 22
Expected return on assets (40) (43) (45)
Amortization of prior service cost (credit) 1 1 1
Amortization of net actuarial loss (gain) 6 9 23
Settlement charge 0 29 12
Net cost $ 19 $ 48 $ 39
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Schedule of Components of Other Postretirement Benefit Expense) (Details) - Medical and Life Insurance Benefits [Member] - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Postretirement medical and life insurance benefit expense      
Service cost $ 0 $ 1 $ 1
Interest cost 2 1 1
Amortization of prior service cost (credit) 0 0 (2)
Amortization of net actuarial loss (gain) 0 0 1
Net cost $ 2 $ 2 $ 1
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Changes in Funded Status of Benefit Plans Recognized in Other Comprehensive (Income) Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Pension Benefits [Member]      
Amounts recognized in OCI      
Net actuarial gain (loss) $ 20 $ (29) $ 62
Amortization reclassified to earnings:      
Prior service cost (credit) 1 1 1
Net actuarial loss (gain) 6 38 35
Net amount recognized in OCI 26 10 98
Medical and Life Insurance Benefits [Member]      
Amounts recognized in OCI      
Net actuarial gain (loss) 3 2 5
Amortization reclassified to earnings:      
Prior service cost (credit) 0 0 (2)
Net actuarial loss (gain) 0 0 1
Net amount recognized in OCI $ 3 $ 2 $ 4
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Assumptions and SensItivity) (Details)
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Pension Benefits [Member]      
Assumptions used in computing benefit plan obligations      
Discount rate (percent) 5.70% 4.91%  
Rate of salary increase (percent) 4.00% 4.00%  
Interest crediting rate (percent) 4.79% 3.69%  
Assumptions used in computing benefit plan expense      
Discount rate for service cost (percent) 4.98% 4.52% 3.36%
Discount rate for interest cost (percent) 4.79% 4.12% 2.34%
Rate of salary increase (percent) 4.00% 4.00% 4.00%
Interest crediting rate (percent) 3.69% 3.06% 3.06%
Expected return on plan assets (percent) 6.50% 6.25% 6.25%
Medical and Life Insurance Benefits [Member]      
Assumptions used in computing benefit plan obligations      
Discount rate (percent) 5.66% 4.86%  
Assumptions used in computing benefit plan expense      
Discount rate for service cost (percent) 5.02% 4.50% 3.49%
Discount rate for interest cost (percent) 4.78% 3.96% 2.27%
Assumed health care cost trend rates      
Health care cost trend rate assumed for next year (percent) 7.13% 7.23%  
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) (percent) 4.50% 4.50%  
v3.24.1.1.u2
Pension and Other Postretirement Benefits Sponsor Location (Details)
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Pension Plan [Member]    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Defined Benefit Plan, Sponsor Location [Extensible List] Domestic Plan [Member] Domestic Plan [Member]
Other Postretirement Benefits Plan [Member]    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]    
Defined Benefit Plan, Sponsor Location [Extensible List] Domestic Plan [Member] Domestic Plan [Member]
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Textual) (Details)
$ in Millions
Apr. 30, 2024
USD ($)
Pension Benefits [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Expected contribution to benefit plans in 2023 $ 16
Medical and Life Insurance Benefits [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Expected contribution to benefit plans in 2023 $ 3
v3.24.1.1.u2
Pension and Other Postretirement Benefits (Savings Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Retirement Benefits [Abstract]      
Expense for matching contributions $ 14 $ 14 $ 13
v3.24.1.1.u2
Stock-Based Compensation (Details)
Apr. 30, 2024
shares
Share-Based Payment Arrangement [Abstract]  
Shares authorized under 2022 Omnibus Compensation Plan (shares) 12,412,433
Share remaining available for issuance under 2022 Omnibus Compensation Plan (shares) 11,269,000
v3.24.1.1.u2
Stock-Based Compensation SSARs (Details) - Stock Appreciation Rights (SARs) [Member]
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Apr. 30, 2024
USD ($)
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]  
Outstanding, beginning balance | shares 4,010
Granted | shares 336
Exercised | shares (568)
Forfeited or expired | shares (28)
Outstanding, ending balance | shares 3,750
Exercisable | shares 2,617
Weighted Average Exercise Price [Roll Forward]  
Weighted average exercise price, beginning | $ / shares $ 51.76
Weighted average exercise price, grants in period | $ / shares 69.69
Weighted average exercise price, exercises in period | $ / shares 37.85
Weighted average exercise price, forfeitures and expirations in period | $ / shares 64.63
Weighted average exercise price, ending | $ / shares 55.37
Weighted average exercise price, exercisable | $ / shares $ 48.54
Weighted Average Remaining Contractual Term (years) 4 years 7 months 6 days
Weighted Average Remaining Contractual Term (years) 3 years 4 months 24 days
SSARs outstanding, Aggregate Intrinsic Value | $ $ 12
SSARs exercisable, Aggregate Intrinsic Value | $ $ 12
v3.24.1.1.u2
Stock-Based Compensation SSARs Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs) [Member] - $ / shares
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Grant-date fair value $ 21.69 $ 20.67 $ 16.61
Expected term (years) 7 years 7 years 7 years
Risk-free interest rate (percent) 4.10% 2.70% 1.00%
Expected volatility (percent) 25.00% 24.80% 24.10%
Expected dividend yield (percent) 1.20% 1.00% 1.00%
v3.24.1.1.u2
Stock-Based Compensation PBRSUs (Details) - PBRSU [Member]
shares in Thousands
 12 Months Ended
Apr. 30, 2024
$ / shares
shares
Number of PBRSUs [Roll Forward]  
Outstanding, beginning balance | shares 289
Granted | shares 209
Adjusted for performance and dividends | shares (38)
Converted to common shares (shares) | shares (41)
Forfeited | shares (6)
Outstanding, ending balance | shares 413
Weighted Average Fair Value at Grant Date [Roll Forward]  
Weighted Average Fair Value at Grant Date, Outstanding, Beginning | $ / shares $ 76.33
Weighted Average Fair Value at Grant Date, Granted | $ / shares 75.70
Weighted Average Fair Value at Grant Date, Adjusted for Performance and Dividends | $ / shares 73.56
Weighted Average Fair Value at Grant Date, Converted to Common Shares | $ / shares 73.56
Weighted Average Fair Value at Grant Date, Forfeited | $ / shares 77.12
Weighted Average Fair Value at Grant Date, Outstanding, Ending | $ / shares $ 76.53
v3.24.1.1.u2
Stock-Based Compensation PBRSUs Fair Value Assumptions (Details) - PBRSU [Member]
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Risk-free interest rate (percent) 4.60% 2.80% 0.30%
Expected volatility (percent) 22.20% 29.80% 29.10%
Expected dividend yield (percent) 1.20% 1.00% 1.00%
Remaining performance period (years) as of grant date 2 years 9 months 18 days 2 years 9 months 18 days 2 years 9 months 18 days
v3.24.1.1.u2
Stock-Based Compensation RSUs (Details) - Restricted Stock Units (RSUs) [Member]
shares in Thousands
 12 Months Ended
Apr. 30, 2024
$ / shares
shares
Number of RSUs [Roll Forward]  
Outstanding, beginning balance | shares 0
Granted | shares 89
Additions for dividend equivalents | shares 1
Forfeited | shares (3)
Outstanding, ending balance | shares 87
Weighted Average Fair Value at Grant Date [Roll Forward]  
Weighted Average Fair Value at Grant Date, Outstanding, Beginning | $ / shares $ 0
Weighted Average Fair Value at Grant Date, Granted | $ / shares 68.89
Weighted Average Fair Value at Grant Date, Additions for Dividend Equivalents | $ / shares 69.41
Weighted Average Fair Value at Grant Date, Forfeited | $ / shares 69.17
Weighted Average Fair Value at Grant Date, Outstanding, Ending | $ / shares $ 68.88
v3.24.1.1.u2
Stock-Based Compensation DSUs (Details) - Deferred Stock Units (DSUs) [Member] - $ / shares
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number 181,000    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number 159,000    
Grant-date fair value $ 71.23 $ 72.10 $ 67.35
v3.24.1.1.u2
Stock-Based Compensation Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pre-tax compensation expense $ 25 $ 18 $ 15
Deferred tax benefit 3 3 2
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount $ 14    
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition 1 year 7 months 6 days    
Intrinsic value of SSARs exercised $ 12 19 23
Fair value of shares vested 4 6 7
Excess tax benefit from exercise / vesting of awards $ 2 $ 4 $ 6
v3.24.1.1.u2
Income Taxes (Schedule of Income from U.S. and Foreign Operations) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Domestic and Foreign components of our Income before Income taxes      
United States $ 917 $ 841 $ 954
Foreign 381 176 160
Income before income taxes $ 1,298 $ 1,017 $ 1,114
v3.24.1.1.u2
Income Taxes (Components of Income Tax Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Current:      
U.S. federal $ 150 $ 157 $ 205
Foreign 81 46 64
State and local 25 34 18
Current income tax expense 256 237 287
Deferred:      
U.S. federal 16 (4) 1
Foreign (5) 6 (9)
State and local 7 (5) (3)
Deferred income taxes expense 18 (3) (11)
Total income tax expense $ 274 $ 234 $ 276
v3.24.1.1.u2
Income Taxes (Effective Tax Rate Reconciliation) (Details)
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Reconciles our effective tax rate to the federal statutory tax rate in the United States      
U.S. federal statutory rate 21.00% 21.00% 21.00%
State taxes, net of U.S. federal tax benefit 1.30% 2.50% 1.00%
Income taxed at other than U.S. federal statutory rate 0.50% 3.00% 1.30%
Prior intercompany sales taxed at higher than current U.S. federal statutory rate 0.00% 1.00% 2.00%
Tax benefit from foreign-derived sales (1.70%) (3.00%) (1.80%)
Business divestitures (0.70%) 0.00% 0.00%
Adjustments related to prior years 0.00% (0.50%) 0.70%
Excess tax benefits from stock-based awards (0.10%) (0.30%) (0.50%)
Tax rate changes 0.40% 0.00% 0.40%
Valuation allowance 0.10% (1.30%) 0.00%
Other, net 0.40% 0.60% 0.70%
Effective rate 21.20% 23.00% 24.80%
v3.24.1.1.u2
Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Deferred tax assets:    
Postretirement and other benefits $ 65 $ 75
Accrued liabilities and other 47 35
Inventories 26 26
Lease liabilities 27 23
Loss and credit carryforwards 65 62
Total deferred tax assets 230 221
Valuation allowance (16) (14)
Total deferred tax assets, net of valuation allowance 214 207
Deferred tax liabilities:    
Intangible assets (295) (323)
Property, plant, and equipment (93) (98)
Right-of-use assets (27) (23)
Derivative instruments (3) (3)
Equity method investments (37) 0
Other (5) (17)
Total deferred tax liabilities (460) (464)
Net deferred tax liability $ (246) $ (257)
v3.24.1.1.u2
Income Taxes (Loss Carryforwards) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Operating Loss Carryforwards [Line Items]    
Loss and Credit Carryforwards $ 271 $ 327
Deferred Tax Assets, Loss and Credit Carryforwards 65 62
Loss and Credit Carryforwards, Valuation Allowance (16) (14)
Domestic Tax Authority    
Operating Loss Carryforwards [Line Items]    
Loss and Credit Carryforwards 110 111
Deferred Tax Assets, Loss and Credit Carryforwards 38 [1] 20
Loss and Credit Carryforwards, Valuation Allowance (7) (6)
Domestic Tax Authority | Not Subject to Expiration [Member]    
Operating Loss Carryforwards [Line Items]    
Deferred Tax Assets, Loss and Credit Carryforwards 28  
Domestic Tax Authority | Subject to Expiration [Member]    
Operating Loss Carryforwards [Line Items]    
Deferred Tax Assets, Loss and Credit Carryforwards 10  
Foreign Tax Authority [Member]    
Operating Loss Carryforwards [Line Items]    
Loss and Credit Carryforwards 161 216
Deferred Tax Assets, Loss and Credit Carryforwards 27 [2] 42
Loss and Credit Carryforwards, Valuation Allowance (9) $ (8)
Foreign Tax Authority [Member] | Not Subject to Expiration [Member]    
Operating Loss Carryforwards [Line Items]    
Deferred Tax Assets, Loss and Credit Carryforwards 25  
Foreign Tax Authority [Member] | Subject to Expiration [Member]    
Operating Loss Carryforwards [Line Items]    
Deferred Tax Assets, Loss and Credit Carryforwards $ 2  
[1] As of April 30, 2024, the deferred tax asset amount includes credit carryforwards of $28 that do not expire and loss and credit carryforwards of $10 that expire in varying amounts from 2025 to 2039.
[2] As of April 30, 2024, the deferred tax asset includes loss carryforwards of $25 that do not expire and $2 that expire in varying amounts over the next 10 years.
v3.24.1.1.u2
Income Taxes (Earnings of Foreign Subsidiaries) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Income Tax Disclosure [Abstract]    
Undistributed Earnings of Foreign Subsidiaries $ 1,909 $ 1,617
v3.24.1.1.u2
Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Reconciliation of Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits at beginning of year $ 21 $ 14 $ 12
Additions for tax positions provided in prior periods 1 8 2
Additions for tax positions provided in current period 2 3 2
Decreases for tax positions provided in prior years (3) 0 0
Settlements of tax positions in the current period (3) 0 0
Lapse of statutes of limitations (4) (4) (2)
Unrecognized tax benefits at end of year 14 $ 21 $ 14
Unrecognized Tax Benefits [Abstract]      
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 11    
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit $ 0    
v3.24.1.1.u2
Acquisitions (Details)
€ in Millions
 12 Months Ended
Jan. 05, 2023
USD ($)
Nov. 03, 2022
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2023
USD ($)
Nov. 03, 2022
EUR (€)
Apr. 30, 2022
USD ($)
Business Acquisition [Line Items]            
Business Combination, Contingent Consideration, Liability     $ 69,000,000 $ 63,000,000    
Goodwill     1,455,000,000 $ 1,457,000,000   $ 761,000,000
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed     55,000,000      
Selling, General and Administrative Expenses            
Business Acquisition [Line Items]            
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed     11,000,000      
Other expense (income), net            
Business Acquisition [Line Items]            
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed     $ 44,000,000      
Gin Mare            
Business Acquisition [Line Items]            
Business Acquisition, Percentage of Voting Interests Acquired   100.00%     100.00%  
Business Combination, Consideration Transferred   $ 523,000,000        
Payments to Acquire Businesses, Gross   468,000,000        
Business Combination, Contingent Consideration, Liability   55,000,000        
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred   1,000,000        
Trademarks and brand names (indefinite-lived)   283,000,000        
Goodwill   306,000,000        
Total assets   589,000,000        
Deferred tax liabilities   66,000,000        
Net assets acquired   523,000,000        
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High   89,000,000     € 90  
Business Acquisition, Goodwill, Expected Tax Deductible Amount   0        
Gin Mare | Prior Allocation [Member]            
Business Acquisition [Line Items]            
Trademarks and brand names (indefinite-lived) [1]   307,000,000        
Goodwill [1]   289,000,000        
Total assets [1]   596,000,000        
Deferred tax liabilities [1]   72,000,000        
Net assets acquired [1]   524,000,000        
Gin Mare | Adjustments {Member]            
Business Acquisition [Line Items]            
Trademarks and brand names (indefinite-lived)   (24,000,000)        
Goodwill   17,000,000        
Total assets   (7,000,000)        
Deferred tax liabilities   (6,000,000)        
Net assets acquired   $ (1,000,000)        
Diplomatico            
Business Acquisition [Line Items]            
Business Acquisition, Percentage of Voting Interests Acquired 100.00%          
Payments to Acquire Businesses, Gross $ 723,000,000          
Accounts receivable 11,000,000          
Inventories 34,000,000          
Other current assets 25,000,000          
Property, plant, and equipment 38,000,000          
Trademarks and brand names (indefinite-lived) 283,000,000          
Goodwill 386,000,000          
Other assets 2,000,000          
Total assets 779,000,000          
Accounts payable and accrued expenses 14,000,000          
Deferred tax liabilities 40,000,000          
Other liabilities 2,000,000          
Total liabilities 56,000,000          
Net assets acquired 723,000,000          
Business Acquisition, Goodwill, Expected Tax Deductible Amount 108,000,000          
Diplomatico | Prior Allocation [Member]            
Business Acquisition [Line Items]            
Accounts receivable [1] 11,000,000          
Inventories [1] 36,000,000          
Other current assets [1] 25,000,000          
Property, plant, and equipment [1] 38,000,000          
Trademarks and brand names (indefinite-lived) [1] 312,000,000          
Goodwill [1] 363,000,000          
Other assets [1] 2,000,000          
Total assets [1] 787,000,000          
Accounts payable and accrued expenses [1] 13,000,000          
Deferred tax liabilities [1] 45,000,000          
Other liabilities [1] 2,000,000          
Total liabilities [1] 60,000,000          
Net assets acquired [1] 727,000,000          
Diplomatico | Adjustments {Member]            
Business Acquisition [Line Items]            
Accounts receivable 0          
Inventories (2,000,000)          
Other current assets 0          
Property, plant, and equipment 0          
Trademarks and brand names (indefinite-lived) (29,000,000)          
Goodwill 23,000,000          
Other assets 0          
Total assets (8,000,000)          
Accounts payable and accrued expenses 1,000,000          
Deferred tax liabilities (5,000,000)          
Other liabilities 0          
Total liabilities (4,000,000)          
Net assets acquired $ (4,000,000)          
[1] As reported in Note 12 to our consolidated financial statements in our 2023 Form 10-K.
v3.24.1.1.u2
Divestitures (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Nov. 01, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Cash proceeds $ 246 $ 0 $ 0  
Pre-tax gain on divestiture of business $ 267 $ 0 $ 0  
Duckhorn        
Schedule of Equity Method Investments [Line Items]        
Equity Method Investment, Ownership Percentage 21.40%      
Fair value of equity interest in Duckhorn $ 267      
Finlandia        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Cash proceeds 196      
Total consideration received       $ 196
Cumulative translation losses (30)      
Net investment hedge gain (Note 15) 26      
Pre-tax gain on divestiture of business 92      
Net carrying amount of assets and liabilities sold       $ (100)
Sonoma-Cutrer        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Cash proceeds 50      
Total consideration received 317      
Pre-tax gain on divestiture of business 175      
Inventories 56      
Property, plant, and equipment 83      
Goodwill 18      
Other assets 1      
Total assets sold 158      
Accounts payable and accrued expenses 3      
Deferred tax liabilities 12      
Other liabilities 1      
Total liabilities sold 16      
Net carrying amount of assets and liabilities sold $ (142)      
v3.24.1.1.u2
Derivative Financial Instruments and Hedging Activities (Gain (Loss) on Derivatives Recognized in Consolidated Statement of Operations) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Total amounts presented in the accompanying condensed consolidated statements of operations for line items affected by the net gains (losses) shown above: [Abstract]      
Sales $ 5,328 $ 5,372 $ 5,081
Other income (expense), net (24) (119) (59)
Foreign Currency Denominated Debt [Member]      
Foreign currency-denominated debt designated as net investment hedge: [Abstract]      
Net gain (loss) recognized in AOCI 3 3 78
Foreign Currency Denominated Debt [Member] | Gain on business divestitures      
Foreign currency-denominated debt designated as net investment hedge: [Abstract]      
Net gain (loss) reclassified from AOCI to earnings 26 0 0
Currency derivatives [Member]      
Currency derivatives designated as cash flow hedges: [Abstract]      
Net gain (loss) recognized in AOCI 11 4 76
Currency derivatives [Member] | Sales [Member]      
Currency derivatives designated as cash flow hedges: [Abstract]      
Net gain (loss) reclassified from AOCI into earnings 12 37 5
Currency derivatives not designated as hedging instruments: [Abstract]      
Net gain (loss) recognized in earnings 0 (1) 12
Currency derivatives [Member] | Other Income (Expense), Net [Member]      
Currency derivatives designated as cash flow hedges: [Abstract]      
Net gain (loss) reclassified from AOCI into earnings 0 0 2
Currency derivatives not designated as hedging instruments: [Abstract]      
Net gain (loss) recognized in earnings 8 16 5
Interest Rate Contract      
Currency derivatives designated as cash flow hedges: [Abstract]      
Net gain (loss) recognized in AOCI $ 0 $ (1) $ 0
v3.24.1.1.u2
Derivative Financial Instruments and Hedging Activities (Fair Value of Derivatives in a Gain (Loss) Position) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Fair values of derivative instruments    
Derivative Asset, Fair Value, Gross Asset $ 12 $ 28
Derivative Liability, Fair Value, Gross Liability (4) (14)
Currency derivatives [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Current Assets [Member]    
Fair values of derivative instruments    
Derivative Asset, Fair Value, Gross Asset 11 20
Derivative Liability, Fair Value, Gross Liability (2) (11)
Currency derivatives [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Assets [Member]    
Fair values of derivative instruments    
Derivative Asset, Fair Value, Gross Asset 1 5
Derivative Liability, Fair Value, Gross Liability (1) (1)
Currency derivatives [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Accrued expenses [Member]    
Fair values of derivative instruments    
Derivative Asset, Fair Value, Gross Asset   0
Derivative Liability, Fair Value, Gross Liability   (1)
Currency derivatives [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Liabilities [Member]    
Fair values of derivative instruments    
Derivative Asset, Fair Value, Gross Asset   0
Derivative Liability, Fair Value, Gross Liability   (1)
Currency derivatives [Member] | Not designated as hedges [Member] | Other Current Assets [Member]    
Fair values of derivative instruments    
Derivative Asset, Fair Value, Gross Asset   3
Derivative Liability, Fair Value, Gross Liability   $ 0
Currency derivatives [Member] | Not designated as hedges [Member] | Accrued expenses [Member]    
Fair values of derivative instruments    
Derivative Asset, Fair Value, Gross Asset 0  
Derivative Liability, Fair Value, Gross Liability $ (1)  
v3.24.1.1.u2
Derivative Financial Instruments and Hedging Activities (Textual) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Derivative Instruments and Hedging Activities [Line Items]    
Maximum Remaining Maturity of Foreign Currency Derivatives 24 months 24 months
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months $ 7  
Derivative, Net Liability Position, Aggregate Fair Value 1 $ 1
Foreign Exchange Contract [Member]    
Derivative Instruments and Hedging Activities [Line Items]    
Derivative, Notional Amount 566 747
Designated as Hedging Instrument [Member] | Net Investment Hedging [Member]    
Derivative Instruments and Hedging Activities [Line Items]    
Debt Instrument, Face Amount 497 495
4.75% senior notes, due April 15, 2033 {Member}    
Derivative Instruments and Hedging Activities [Line Items]    
Debt Instrument, Face Amount $ 650 $ 650
v3.24.1.1.u2
Derivative Financial Instruments and Hedging Activities Offsetting Derivative Assets and Liabilities (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Offsetting Assets and Liabilities [Line Items]    
Gross Amount of Derivative Assets $ 12 $ 28
Gross Amount of Derivative Liabilities Offset Against Derivative Assets in Balance Sheet (3) (12)
Net Amount of Derivative Assets Presented in Balance Sheet 9 16
Gross Amount of Derivative Liabilities Not Offset Against Derivative Assets in Balance Sheet 0 (1)
Net Amount of Derivative Assets 9 15
Gross Amount of Derivative Liabilities (4) (14)
Gross Amount of Derivative Assets Offset Against Derivative Liabilities in Balance Sheet 3 12
Net Amount of Derivative Liabilities Presented in Balance Sheet (1) (2)
Gross Amount of Derivative Assets Not Offset Against Derivative Liabilities in Balance Sheet 0 1
Net Amount of Derivative Liabilities $ (1) $ (1)
DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag true  
v3.24.1.1.u2
Fair Value Measurements Fair Value Measurements (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Assets:      
Cash and cash equivalents, Carrying Amount $ 446 $ 374 $ 868
Cash and cash equivalents, Fair Value 446 374  
Liabilities:      
Contingent consideration, Carrying Amount 69 63  
Short-term borrowings, Carrying Amount 428 235  
Short-term borrowings, Fair Value 428 235  
Long-term debt (including current portion), Carrying Amount 2,672 2,678  
Fair Value, Inputs, Level 2 [Member]      
Assets:      
Currency derivatives, Fair Value 9 16  
Liabilities:      
Currency derivatives, Fair Value 1 2  
Long-term debt (including current portion), Fair Value 2,468 2,556  
Fair Value, Inputs, Level 3 [Member]      
Liabilities:      
Contingent consideration, Fair Value 69 63  
Foreign Exchange Contract [Member]      
Assets:      
Currency derivatives, Carrying Amount 9 16  
Liabilities:      
Currency derivatives, Carrying Amount $ 1 $ 2  
v3.24.1.1.u2
Impairment Charges (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Fair Value Disclosures [Abstract]      
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) $ 7 $ 96 $ 52
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration] Other income (expense), net Other income (expense), net Other income (expense), net
v3.24.1.1.u2
Rollforward of Contingent Consideration (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 63 $ 0
Acquisition of business (Note 13)   56
Foreign currency translation adjustment (2) 7
Purchase accounting adjustment (Note 13) (1)  
Change in fair value [1] 9  
Ending balance $ 69 $ 63
[1] Classified as “other expense (income), net” in the accompanying consolidated statement of operations.
v3.24.1.1.u2
Leases ROU Assets and Liabilities (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Leases [Abstract]    
Right-of-use assets $ 96 $ 84
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]    
Lease Liabilities:    
Current $ 24 $ 22
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]    
Non-current $ 73 $ 63
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]    
Total $ 97 $ 85
Weighted-average discount rate 4.20% 3.30%
Weighted-average remaining term 5 years 1 month 6 days 5 years 1 month 6 days
v3.24.1.1.u2
Leases Lease Cost and Other Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Leases [Abstract]      
Total lease cost [1] $ 51 $ 38 $ 38
Cash paid for amounts included in the measurement of lease liabilities [2] 29 25 25
Right-of-use assets obtained in exchange for new lease liabilities $ 38 $ 29 $ 35
[1] Consists primarily of operating lease cost. Other components of lease cost were not material.
[2] Classified within operating activities in the accompanying consolidated statements of cash flows.
v3.24.1.1.u2
Leases Future Operating Lease Payments (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Leases [Abstract]    
2025 $ 27  
2026 23  
2027 19  
2028 14  
2029 11  
Thereafter 13  
Total lease payments 107  
Less: Present value discount (10)  
Lease liabilities $ 97 $ 85
v3.24.1.1.u2
Other Comprehensive Income Schedule of Other Comprehensive Income (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Before Tax:      
Net other comprehensive income (loss) $ 15 $ 113 $ 128
Tax Effect:      
Net other comprehensive income (loss) (1) 4 (58)
Net of Tax:      
Net other comprehensive income (loss) 14 117 70
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]      
Before Tax:      
Net gain (loss) (16) 135 (42)
Reclassification to earnings 4 [1] 0 0
Net other comprehensive income (loss) (12) 135 (42)
Tax Effect:      
Net gain (loss) (1) 0 (18)
Reclassification to earnings 6 0 0
Net other comprehensive income (loss) 5 0 (18)
Net of Tax:      
Net gain (loss) (17) 135 (60)
Reclassification to earnings 10 0 0
Net other comprehensive income (loss) (7) 135 (60)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]      
Before Tax:      
Net gain (loss) 11 3 76
Reclassification to earnings [2] (12) (37) (7)
Net other comprehensive income (loss) (1) (34) 69
Tax Effect:      
Net gain (loss) (2) (1) (17)
Reclassification to earnings 3 8 1
Net other comprehensive income (loss) 1 7 (16)
Net of Tax:      
Net gain (loss) 9 2 59
Reclassification to earnings (9) (29) (6)
Net other comprehensive income (loss) 0 (27) 53
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]      
Before Tax:      
Net gain (loss) 22 (26) 67
Reclassification to earnings [3] 6 38 34
Net other comprehensive income (loss) 28 12 101
Tax Effect:      
Net gain (loss) (5) 6 (16)
Reclassification to earnings (2) (9) (8)
Net other comprehensive income (loss) (7) (3) (24)
Net of Tax:      
Net gain (loss) 17 (20) 51
Reclassification to earnings 4 29 26
Net other comprehensive income (loss) $ 21 $ 9 77
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Other Income [Member]      
Before Tax:      
Reclassification to earnings     $ (2)
[1] Pre-tax amount is classified in gain on business divestitures in the accompanying consolidated statements of operations.
[2] For 2022, $(2) of the pre-tax amount of $(7) is classified in other expense (income) in the accompanying consolidated statements of operations. Otherwise, the pre-tax amount for each year is classified as sales.
[3] Pre-tax amount is classified as non-operating postretirement expense in the accompanying consolidated statements of operations.
v3.24.1.1.u2
Supplemental Information (Net Sales by Geography) (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Geographic Areas, Revenues from External Customers [Abstract]      
Net sales $ 4,178 $ 4,228 $ 3,933
United States      
Geographic Areas, Revenues from External Customers [Abstract]      
Net sales 1,889 1,968 1,917
Mexico      
Geographic Areas, Revenues from External Customers [Abstract]      
Net sales 290 244 178
Germany      
Geographic Areas, Revenues from External Customers [Abstract]      
Net sales 263 239 228
Australia      
Geographic Areas, Revenues from External Customers [Abstract]      
Net sales 204 221 219
United Kingdom      
Geographic Areas, Revenues from External Customers [Abstract]      
Net sales 185 207 218
Other Countries      
Geographic Areas, Revenues from External Customers [Abstract]      
Net sales $ 1,348 $ 1,349 $ 1,173
v3.24.1.1.u2
Supplemental Information Major Customers (Details) - Revenue from Contract with Customer, Product and Service Benchmark [Member] - Customer Concentration Risk
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
Largest Customer [Member]      
Percentage of Net Sales from Major Customers [Abstract]      
Concentration Risk, Percentage 13.00% 14.00% 14.00%
Second Largest Customer [Member]      
Percentage of Net Sales from Major Customers [Abstract]      
Concentration Risk, Percentage 11.00% 12.00% 12.00%
v3.24.1.1.u2
Supplemental Information (PP&E) (Details) - USD ($)
$ in Millions
Apr. 30, 2024
Apr. 30, 2023
Property, Plant and Equipment [Abstract]    
Property, Plant and Equipment, Net $ 1,074 $ 1,031
Non-US [Member]    
Property, Plant and Equipment [Abstract]    
Property, Plant and Equipment, Net $ 255 $ 204
v3.24.1.1.u2
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Apr. 30, 2024
Apr. 30, 2023
Apr. 30, 2022
SEC Schedule, 12-09, Allowance, Credit Loss [Member]      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period $ 7 $ 13 $ 7
Additions Charged to Costs and Expenses 1 0 7
Additions Charged to Other Accounts 0 0 0
Deductions 0 [1] 6 1 [1]
Balance at End of Period 8 7 13
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]      
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period 14 27 20
Additions Charged to Costs and Expenses 2 4 8
Additions Charged to Other Accounts 2 0 0
Deductions 2 17 1
Balance at End of Period $ 16 $ 14 $ 27
[1] Doubtful accounts written off, net of recoveries.