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Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended
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Apr. 24, 2015
Investments Debt And Equity Securities [Abstract] |
Summary of Investments | The following is a summary of our investments (in millions):
|  | April 24, 2015 |  |  | April 25, 2014 |
|  | Cost or |  |  |  |  |  | Estimated |  |  | Cost or |  |  |  |  |  | Estimated |
|  | Amortized |  |  | Gross Unrealized |  |  | Fair |  |  | Amortized |  |  | Gross Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |  |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Corporate bonds |  | $ | 2,249.4 |  |  | $ | 8.7 |  |  | $ | (0.5 | ) |  |  | 2,257.6 |  |  | $ | 2,142.3 |  |  | $ | 10.5 |  |  | $ | (0.5 | ) |  | $ | 2,152.3 |
U.S. Treasury and government debt securities |  |  | 1,055.7 |  |  |  | 2.5 |  |  |  | — |  |  |  | 1,058.2 |  |  |  | 263.4 |  |  |  | 0.3 |  |  |  | (0.1 | ) |  |  | 263.6 |
Foreign government debt securities |  |  | 37.7 |  |  |  | 0.2 |  |  |  | — |  |  |  | 37.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial paper |  |  | 20.0 |  |  |  | — |  |  |  | — |  |  |  | 20.0 |  |  |  | 168.4 |  |  |  | — |  |  |  | — |  |  |  | 168.4 |
Certificates of deposit |  |  | 286.2 |  |  |  | — |  |  |  | — |  |  |  | 286.2 |  |  |  | 245.0 |  |  |  | — |  |  |  | — |  |  |  | 245.0 |
Auction rate securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 36.9 |  |  |  | — |  |  |  | (0.9 | ) |  |  | 36.0 |
Mutual funds |  |  | 32.2 |  |  |  | — |  |  |  | — |  |  |  | 32.2 |  |  |  | 32.7 |  |  |  | — |  |  |  | — |  |  |  | 32.7 |
Total debt and equity securities |  | $ | 3,681.2 |  |  | $ | 11.4 |  |  | $ | (0.5 | ) |  | $ | 3,692.1 |  |  | $ | 2,888.7 |  |  | $ | 10.8 |  |  | $ | (1.5 | ) |  | $ | 2,898.0 |
Schedule of Gross Unrealized Losses and Fair Values of Investments | As of April 24, 2015, gross unrealized losses related to individual securities were not significant. The following table shows the gross unrealized losses and estimated fair values of our available-for-sale investments with gross unrealized losses and the length of time that individual securities have been in continuous unrealized loss positions as of April 25, 2014 (in millions):
|  | April 25, 2014 |
|  | Less than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |  |  | Fair Value |  |  | Unrealized Loss |
Corporate bonds |  | $ | 233.1 |  |  | $ | (0.5 | ) |  | $ | — |  |  | $ | — |  |  | $ | 233.1 |  |  | $ | (0.5 | )
U.S. Treasury and government debt securities |  |  | 63.0 |  |  |  | (0.1 | ) |  |  | — |  |  |  | — |  |  |  | 63.0 |  |  |  | (0.1 | )
Auction rate securities |  |  | — |  |  |  | — |  |  |  | 36.0 |  |  |  | (0.9 | ) |  |  | 36.0 |  |  |  | (0.9 | )
Total |  | $ | 296.1 |  |  | $ | (0.6 | ) |  | $ | 36.0 |  |  | $ | (0.9 | ) |  | $ | 332.1 |  |  | $ | (1.5 | )
Contractual Maturities of Debt Investments | The following table presents the contractual maturities of our debt investments as of April 24, 2015 (in millions):
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 1,437.8 |  |  | $ | 1,440.2 |
Due after one year through five years |  |  | 2,211.2 |  |  |  | 2,219.7 |
|  | $ | 3,649.0 |  |  | $ | 3,659.9 |
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis (in millions):
|  | April 24, 2015 |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  | Total |  |  | Level 1 |  |  | Level 2 |
Cash |  | $ | 1,666.3 |  |  | $ | 1,666.3 |  |  | $ | — |
Corporate bonds |  |  | 2,257.6 |  |  |  | — |  |  |  | 2,257.6 |
U.S. Treasury and government debt securities |  |  | 1,058.2 |  |  |  | 145.6 |  |  |  | 912.6 |
Foreign government debt securities |  |  | 37.9 |  |  |  | — |  |  |  | 37.9 |
Commercial paper |  |  | 20.0 |  |  |  | — |  |  |  | 20.0 |
Certificates of deposit |  |  | 286.2 |  |  |  | — |  |  |  | 286.2 |
Total cash, cash equivalents and short-term investments |  | $ | 5,326.2 |  |  | $ | 1,811.9 |  |  | $ | 3,514.3 |
Other items: |  |  |  |  |  |  |  |  |  |  |  |
Mutual funds (1) |  | $ | 2.8 |  |  | $ | 2.8 |  |  | $ | — |
Mutual funds (2) |  | $ | 29.4 |  |  | $ | 29.4 |  |  | $ | — |
Foreign currency exchange contracts assets (1) |  | $ | 3.4 |  |  | $ | — |  |  | $ | 3.4 |
Long-term debt |  | $ | (1,523.6 | ) |  | $ | — |  |  | $ | (1,523.6 | )
|  | April 25, 2014 |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Cash |  | $ | 2,174.0 |  |  | $ | 2,174.0 |  |  | $ | — |  |  | $ | — |
Corporate bonds |  |  | 2,152.3 |  |  |  | — |  |  |  | 2,152.3 |  |  |  | — |
U.S. Treasury and government debt securities |  |  | 263.6 |  |  |  | 185.1 |  |  |  | 78.5 |  |  |  | — |
Commercial paper |  |  | 168.4 |  |  |  | — |  |  |  | 168.4 |  |  |  | — |
Certificates of deposit |  |  | 245.0 |  |  |  | — |  |  |  | 245.0 |  |  |  | — |
Total cash, cash equivalents and short-term investments |  | $ | 5,003.3 |  |  | $ | 2,359.1 |  |  | $ | 2,644.2 |  |  | $ | — |
Other items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Auction rate securities (2) |  | $ | 36.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 36.0 |
Mutual funds (1) |  | $ | 6.4 |  |  | $ | 6.4 |  |  | $ | — |  |  | $ | — |
Mutual funds (2) |  | $ | 26.3 |  |  | $ | 26.3 |  |  | $ | — |  |  | $ | — |
Foreign currency exchange contracts assets (1) |  | $ | 0.4 |  |  | $ | — |  |  | $ | 0.4 |  |  | $ | — |
Foreign currency exchange contracts liabilities (3) |  | $ | (1.9 | ) |  | $ | — |  |  | $ | (1.9 | ) |  | $ | — |
Long-term debt |  | $ | (1,000.0 | ) |  | $ | — |  |  | $ | (1,000.0 | ) |  | $ | — |
(1) | Reported as other current assets in the consolidated balance sheets
(2) | Reported as other non-current assets in the consolidated balance sheets
(3) | Reported as accrued expenses in the consolidated balance sheets
Quantitative Information About Level 3 Fair Value Measurements | Quantitative information about our Level 3 fair value measurements as of April 24, 2014 for our ARSs is as follows:
|  | Estimated Fair Value as of April 25, 2014 (in millions) |  |  | Valuation Techniques |  | Unobservable Inputs |  | Range (Weighted average)
ARSs |  | $ | 36.0 |  |  | Discounted cash flow |  | Time-to-economic maturity |  | 6.7 yrs - 10.0 yrs (8.2 yrs)
|  |  |  |  |  |  |  | Illiquidity premium |  | 1.1% - 2.8% (1.8%)
|  |  |  |  |  |  |  | Coupon rate |  | 1.1% - 2.7% (1.8%)
|  |  |  |  |  | Market comparable securities |  | Discount rate |  | 1.0% - 5.0% (2.4%)
Reconciliation of Beginning and Ending Balance of Level 3 Auction Rate Securities Measured at Fair Value on Recurring Basis | The table below provides a reconciliation of the beginning and ending balance of our Level 3 ARSs measured at fair value on a recurring basis using significant unobservable inputs (in millions):
|  | Year Ended |
|  | April 24, 2015 |  |  | April 25, 2014 |  |  | April 26, 2013 |
Balance at beginning of year |  | $ | 36.0 |  |  | $ | 42.0 |  |  | $ | 51.0 |
Total unrealized gains, net included in other comprehensive income (loss) |  |  | 0.9 |  |  |  | 1.3 |  |  |  | 0.5 |
Total realized gains included in earnings |  |  | — |  |  |  | 0.7 |  |  |  | 1.1 |
Sales |  |  | (10.0 | ) |  |  | (8.0 | ) |  |  | — |
Settlements |  |  | (26.9 | ) |  |  | — |  |  |  | (10.6 | )
Balance at end of year |  | $ | — |  |  | $ | 36.0 |  |  | $ | 42.0 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 + Details
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