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Financial Instruments (Tables) | 12 Months Ended
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Apr. 24, 2020
Investments [Abstract] |
Investments by Category and Related Balance Sheet Presentation | The following tables summarize the Company's investments in available-for-sale debt securities by significant investment category and the related consolidated balance sheet classification at April 24, 2020 and April 26, 2019:
| April 24, 2020 |  |  |  |  |  |  |  |  |  |
| Valuation |  |  |  |  |  |  |  | Balance Sheet Classification |  |
(in millions) | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Investments |  | Other Assets
Level 1: |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities | $ | 542 |  |  | $ | 47 |  |  | $ | — |  |  | $ | 589 |  |  | $ | 589 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 4,285 |  |  | 66 |  |  | (90) |  |  | 4,261 |  |  | 4,261 |  |  | — |
U.S. government and agency securities | 746 |  |  | 1 |  |  | — |  |  | 747 |  |  | 747 |  |  | — |
Mortgage-backed securities | 705 |  |  | 20 |  |  | (28) |  |  | 697 |  |  | 697 |  |  | — |
Non-U.S. government and agency securities | 34 |  |  | — |  |  | — |  |  | 34 |  |  | 34 |  |  | — |
Other asset-backed securities | 499 |  |  | 1 |  |  | (20) |  |  | 480 |  |  | 480 |  |  | — |
Total Level 2 | 6,269 |  |  | 88 |  |  | (138) |  |  | 6,219 |  |  | 6,219 |  |  | — |
Level 3: |  |  |  |  |  |  |  |  |  |  |
Auction rate securities | 36 |  |  | — |  |  | (3) |  |  | 33 |  |  | — |  |  | 33 |
Total available-for-sale debt securities | $ | 6,847 |  |  | $ | 135 |  |  | $ | (141) |  |  | $ | 6,841 |  |  | $ | 6,808 |  |  | $ | 33 |
| April 26, 2019 |  |  |  |  |  |  |  |  |  |
| Valuation |  |  |  |  |  |  |  | Balance Sheet Classification |  |
(in millions) | Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  | Investments |  | Other Assets
Level 1: |  |  |  |  |  |  |  |  |  |  |
U.S. government and agency securities | $ | 529 |  |  | $ | 1 |  |  | $ | (7) |  |  | $ | 523 |  |  | $ | 523 |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 3,500 |  |  | 14 |  |  | (21) |  |  | 3,493 |  |  | 3,493 |  |  | — |
U.S. government and agency securities | 387 |  |  | 1 |  |  | (7) |  |  | 381 |  |  | 381 |  |  | — |
Mortgage-backed securities | 537 |  |  | 3 |  |  | (20) |  |  | 520 |  |  | 520 |  |  | — |
Non-U.S. government and agency securities | 11 |  |  | — |  |  | — |  |  | 11 |  |  | 11 |  |  | — |
Other asset-backed securities | 529 |  |  | 1 |  |  | (3) |  |  | 527 |  |  | 527 |  |  | — |
Total Level 2 | 4,964 |  |  | 19 |  |  | (51) |  |  | 4,932 |  |  | 4,932 |  |  | — |
Level 3: |  |  |  |  |  |  |  |  |  |  |
Auction rate securities | 47 |  |  | — |  |  | (3) |  |  | 44 |  |  | — |  |  | 44 |
Total available-for-sale debt securities | $ | 5,540 |  |  | $ | 20 |  |  | $ | (61) |  |  | $ | 5,499 |  |  | $ | 5,455 |  |  | $ | 44 |
Gross Unrealized Losses and Fair Values of Available-for-sale Securities that Have Been in a Continuous Unrealized Loss Position Deemed to be Temporary, Aggregated by Investment Category | The following tables present the gross unrealized losses and fair values of the Company’s available-for-sale debt securities that have been in a continuous unrealized loss position deemed to be temporary, aggregated by investment category, at April 24, 2020 and April 26, 2019:
| April 24, 2020 |  |  |  |  |  |
| Less than 12 months |  |  |  | More than 12 months |  |
(in millions) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Corporate debt securities | $ | 1,368 |  |  | $ | (2) |  |  | $ | 2,893 |  |  | $ | (88) |
Mortgage-backed securities | 35 |  |  | (1) |  |  | 663 |  |  | (27) |
Other asset-backed securities | 17 |  |  | — |  |  | 463 |  |  | (20) |
Auction rate securities | 33 |  |  | (3) |  |  | — |  |  | — |
Total | $ | 1,453 |  |  | $ | (6) |  |  | $ | 4,019 |  |  | $ | (135) |
| April 26, 2019 |  |  |  |  |  |
| Less than 12 months |  |  |  | More than 12 months |  |
(in millions) | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
U.S. government and agency securities | $ | 130 |  |  | $ | (1) |  |  | $ | 649 |  |  | $ | (13) |
Corporate debt securities | 582 |  |  | (5) |  |  | 1,153 |  |  | (16) |
Mortgage-backed securities | 73 |  |  | (1) |  |  | 250 |  |  | (19) |
Other asset-backed securities | 290 |  |  | (2) |  |  | 85 |  |  | (1) |
Auction rate securities | — |  |  | — |  |  | 44 |  |  | (3) |
Total | $ | 1,075 |  |  | $ | (9) |  |  | $ | 2,181 |  |  | $ | (52) |
Activity Related to the Company's Debt Securities Portfolio | Activity related to the Company’s debt securities portfolio is as follows:
(in millions) | April 24, 2020 |  | April 26, 2019 |  | April 27, 2018
Proceeds from sales | $ | 9,559 |  |  | $ | 3,718 |  |  | $ | 3,309 |
Gross realized gains | 25 |  |  | 18 |  |  | 27 |
Gross realized losses | (22) |  |  | (62) |  |  | (21) |
Available-for-sale Debt Securities Contractual Maturities | The April 24, 2020 balance of available-for-sale debt securities by contractual maturity is shown in the following table. Within the table, maturities of mortgage-backed securities have been allocated based upon timing of estimated cash flows assuming no change in the current interest rate environment. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.
(in millions) | April 24, 2020
Due in one year or less | $ | 2,190 |
Due after one year through five years | 2,854 |
Due after five years through ten years | 1,733 |
Due after ten years | 64 |
Total debt securities | $ | 6,841 |
Summary of Equity and Other Investments | The following table summarizes the Company's equity and other investments at April 24, 2020 and April 26, 2019, which are classified as other assets in the consolidated balance sheets:
(in millions) |  | April 24, 2020 |  | April 26, 2019
Investments with readily determinable fair values (marketable equity securities) |  | $ | 18 |  |  | $ | — |
Investments without readily determinable fair values |  | 391 |  |  | 308 |
Equity method and other investments |  | 71 |  |  | 64 |
Total equity and other investments |  | $ | 480 |  |  | $ | 372 |
Activity Related to the Company's Equity and Other Investments Portfolio | The table below includes activity related to the Company’s portfolio of equity and other investments. Gains and losses on equity and other investments are recognized in other non-operating income, net in the consolidated statements of income.
(in millions) |  | April 24, 2020 |  | April 26, 2019 |  | April 27, 2018
Proceeds from sales |  | $ | 15 |  |  | $ | 964 |  |  | $ | 918 |
Gross gains |  | 17 |  |  | 134 |  |  | 18 |
Gross losses |  | (30) |  |  | (30) |  |  | (4) |
Recognized impairment losses |  | (4) |  |  | (45) |  |  | (231) |

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