Balance Sheet Components Certain balance sheet components are as follows: | | | | | | | | | | April 28, | | January 27, | | 2019 | | 2019 | Inventories: | (In millions) | Raw materials | $ | 484 |
| | $ | 613 |
| Work in-process | 189 |
| | 238 |
| Finished goods | 753 |
| | 724 |
| Total inventories | $ | 1,426 |
| | $ | 1,575 |
|
| | | | | | | | | | April 28, | | January 27, | | 2019 | | 2019 | Accrued and Other Current Liabilities: | (In millions) | Customer program accruals | $ | 263 |
| | $ | 302 |
| Accrued payroll and related expenses | 136 |
| | 186 |
| Taxes payable | 107 |
| | 91 |
| Deferred revenue (1) | 85 |
| | 92 |
| Operating lease liabilities | 80 |
| | — |
| Accrued legal settlement costs | 25 |
| | 24 |
| Licenses payable | 23 |
| | 12 |
| Warranty accrual (2) | 18 |
| | 18 |
| Professional service fees | 10 |
| | 14 |
| Coupon interest on debt obligations | 7 |
| | 20 |
| Accrued royalties | 6 |
| | 10 |
| Other | 55 |
| | 49 |
| Total accrued and other current liabilities | $ | 815 |
| | $ | 818 |
|
| | (1) | Deferred revenue primarily includes customer advances and deferrals related to license and development arrangements and post contract customer support, or PCS. |
| | (2) | Refer to Note 13 of these Notes to Condensed Consolidated Financial Statements for a discussion regarding warranties. |
| | | | | | | | | | April 28, | | January 27, | | 2019 | | 2019 | Other Long-Term Liabilities: | (In millions) | Income tax payable (1) | $ | 524 |
| | $ | 513 |
| Deferred revenue (2) | 49 |
| | 46 |
| Licenses payable | 34 |
| | 1 |
| Employee benefits liability | 21 |
| | 20 |
| Deferred income tax liability | 21 |
| | 19 |
| Deferred rent | — |
| | 21 |
| Other | 11 |
| | 13 |
| Total other long-term liabilities | $ | 660 |
| | $ | 633 |
|
| | (1) | As of April 28, 2019, represents the long-term portion of the one-time transition tax payable of $351 million, as well as unrecognized tax benefits of $151 million and related interest and penalties of $22 million. |
| | (2) | Deferred revenue primarily includes deferrals related to PCS. |
Deferred Revenue The following table shows the changes in deferred revenue during the first quarter of fiscal years 2020 and 2019. | | | | | | | | | | April 28, | | April 29, | | 2019 | | 2018 | | (In millions) | Balance at beginning of period | $ | 138 |
| | $ | 63 |
| Deferred revenue added during the period | 49 |
| | 86 |
| Revenue recognized during the period | (53 | ) | | (75 | ) | Balance at end of period | $ | 134 |
| | $ | 74 |
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