Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Apr. 29, 2016

The following is a summary of our investments (in millions):

	April 29, 2016									April 24, 2015
	Cost or							Estimated		Cost or						Estimated
	Amortized		Gross Unrealized					Fair		Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses		Value
Corporate bonds	$	1,370	$	5	$	(1	)	$	1,374	$	2,249	$	9	$	—	$	2,258
U.S. Treasury and government debt securities		878		2		—			880		1,056		2		—		1,058
Foreign government debt securities		35		—		—			35		38		—		—		38
Commercial paper		202		—		—			202		20		—		—		20
Certificates of deposit		98		—		—			98		286		—		—		286
Mutual funds		30		—		—			30		32		—		—		32
Total debt and equity securities	$	2,613	$	7	$	(1	)	$	2,619	$	3,681	$	11	$	—	$	3,692

The following table presents the contractual maturities of our debt investments as of April 29, 2016 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	901	$	902
Due after one year through five years		1,682		1,687
	$	2,583	$	2,589

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis (in millions):

	April 29, 2016
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	2,714		$	2,714	$	—
Corporate bonds		1,374			—		1,374
U.S. Treasury and government debt securities		880			276		604
Foreign government debt securities		35			—		35
Commercial paper		202			—		202
Certificates of deposit		98			—		98
Total cash, cash equivalents and short-term investments	$	5,303		$	2,990	$	2,313
Other items:
Mutual funds ⁽¹⁾	$	5		$	5	$	—
Mutual funds ⁽²⁾	$	25		$	25	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	3		$	—	$	3
Foreign currency exchange contracts liabilities ⁽³⁾	$	(8	)	$	—	$	(8	)

	April 24, 2015
			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2
Cash	$	1,666	$	1,666	$	—
Corporate bonds		2,258		—		2,258
U.S. Treasury and government debt securities		1,058		145		913
Foreign government debt securities		38		—		38
Commercial paper		20		—		20
Certificates of deposit		286		—		286
Total cash, cash equivalents and short-term investments	$	5,326	$	1,811	$	3,515
Other items:
Mutual funds ⁽¹⁾	$	3	$	3	$	—
Mutual funds ⁽²⁾	$	29	$	29	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	3	$	—	$	3

⁽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