Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Jan. 29, 2016

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

	January 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	$	1,496	$	2	$	(4	)	$	1,494	$	2,249	$	9	$	—	$	2,258
U.S. Treasury and government debt securities		1,019		1		—			1,020		1,056		2		—		1,058
Foreign government debt securities		39		—		—			39		38		—		—		38
Commercial paper		7		—		—			7		20		—		—		20
Certificates of deposit		116		—		—			116		286		—		—		286
Mutual funds		29		—		—			29		32		—		—		32
Total debt and equity securities	$	2,706	$	3	$	(4	)	$	2,705	$	3,681	$	11	$	—	$	3,692

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

	Amortized Cost		Fair Value
Due in one year or less	$	839	$	839
Due after one year through five years		1,838		1,837
	$	2,677	$	2,676

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

	January 29, 2016
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	2,347		$	2,347	$	—
Corporate bonds		1,494			—		1,494
U.S. Treasury and government debt securities		1,020			325		695
Foreign government debt securities		39			—		39
Commercial paper		7			—		7
Certificates of deposit		116			—		116
Total cash, cash equivalents and short-term investments	$	5,023		$	2,672	$	2,351
Other items:
Mutual funds ⁽¹⁾	$	5		$	5	$	—
Mutual funds ⁽²⁾	$	24		$	24	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	5		$	—	$	5
Foreign currency exchange contracts liabilities ⁽³⁾	$	(1	)	$	—	$	(1	)
Long-term debt	$	(1,492	)	$	—	$	(1,492	)

⁽¹⁾	Reported as other current assets in the condensed consolidated balance sheets

⁽²⁾	Reported as other non-current assets in the condensed consolidated balance sheets

⁽³⁾	Reported as accrued expenses in the condensed consolidated balance sheets