An air conditioning apparatus is provided whereby the pressure pulsation generated by a compressor can be entirely reduced both during cooling and during heating, and a muffler can be shared. The air conditioning apparatus has a refrigerant circuit. The refrigerant circuit is configured so that a compressor for compressing a refrigerant, an indoor heat exchanger, an outdoor heat exchanger, and a four-way switch valve are connected via a refrigerant pipe. The four-way switch valve switches the flow of refrigerant compressed by the compressor to either the indoor heat exchanger or the outdoor heat exchanger. The air conditioning apparatus further includes a pressure pulsation reducing component. The pressure pulsation reducing component is provided between the four-way switch valve and the indoor heat exchanger. The pressure pulsation reducing component reduces pressure pulsation inside the refrigerant circuit. The pressure pulsation is generated by the compressor.