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Revenue (Tables) | 3 Months Ended
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Jul. 27, 2018
Disaggregation Of Revenue [Line Items] |
Summary of Disaggregation of Revenue | The following table depicts the disaggregation of revenue by our products and services (in millions):
|  | Three Months Ended |
|  | July 27, 2018 |  |  | July 28, 2017 |
Product revenues |  | $ | 875 |  |  | $ | 727 |
Strategic |  |  | 612 |  |  |  | 498 |
Mature |  |  | 263 |  |  |  | 229 |
Software maintenance revenues |  | 229 |  |  | 223 |
Hardware maintenance and other services revenues |  | 370 |  |  | 371 |
Hardware maintenance support contracts |  |  | 303 |  |  |  | 298 |
Professional and other services |  |  | 67 |  |  |  | 73 |
Net revenues |  | $ | 1,474 |  |  | $ | 1,321 |
Deferred Revenue and Financed Unearned Services Revenue | The following table summarizes the components of our deferred revenue and financed unearned services balance as reported in our condensed consolidated balance sheets (in millions):
|  | July 27, 2018 |  |  | April 27, 2018 |
Deferred product revenue |  | $ | 102 |  |  | $ | 107 |
Deferred services revenue |  |  | 3,046 |  |  |  | 3,134 |
Financed unearned services revenue |  |  | 112 |  |  |  | 122 |
Total |  | $ | 3,260 |  |  | $ | 3,363 |
Reported as: |  |  |  |  |  |  |  |
Short-term |  | $ | 1,623 |  |  | $ | 1,712 |
Long-term |  |  | 1,637 |  |  |  | 1,651 |
Total |  | $ | 3,260 |  |  | $ | 3,363 |
The following tables summarize the activity related to deferred revenue and financed unearned services revenue (in millions):
|  | Three Months Ended |
|  | July 27, 2018 |  |  | July 28, 2017 |
Balance at beginning of period |  | $ | 3,363 |  |  | $ | 3,213 |
Additions |  |  | 511 |  |  |  | 497 |
Revenue recognized during the period |  |  | (614 | ) |  |  | (583 | )
Balance at end of period |  | $ | 3,260 |  |  | $ | 3,127 |
Summary of Activity Related to Deferred Commissions and their Balances in Condensed Consolidated Balance Sheets | The following tables summarize the activity related to deferred commissions and their balances as reported in our condensed consolidated balance sheets (in millions):
|  | Three Months Ended |
|  | July 27, 2018 |  |  | July 28, 2017 |
Balance at beginning of period |  | $ | 137 |  |  | $ | 113 |
Additions |  |  | 19 |  |  |  | 18 |
Expense recognized during the period |  |  | (21 | ) |  |  | (15 | )
Balance at end of period |  | $ | 135 |  |  | $ | 116 |
|  | July 27, 2018 |  |  | April 27, 2018 |
Other current assets |  | $ | 64 |  |  | $ | 66 |
Other non-current assets |  |  | 71 |  |  |  | 71 |
Total deferred commissions |  | $ | 135 |  |  | $ | 137 |
ASC 606 |
Disaggregation Of Revenue [Line Items] |
Schedule of Impacts of Adoption of ASC 606 on Condensed Consolidated Balance Sheet and Statement of Operations | The following table presents the impacts of adoption of ASC 606 to select line items of our condensed consolidated balance sheet as of the end of fiscal 2018:
|  | As of April 27, 2018 |
|  | As Previously Reported |  |  | Impact of ASC 606 Adoption |  | As Adjusted |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 1,009 |  |  | $ | 38 |  |  | (1 | ) | $ | 1,047 |
Inventories |  |  | 126 |  |  |  | (4 | ) |  |  |  |  | 122 |
Other current assets |  |  | 330 |  |  |  | 62 |  |  | (2 | ) |  | 392 |
Other non-current assets |  |  | 420 |  |  |  | 30 |  |  | (2 | ) |  | 450 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term deferred revenue and financed unearned services revenue |  | $ | 1,804 |  |  | $ | (92 | ) |  | (3 | ) | $ | 1,712 |
Other long-term liabilities |  |  | 961 |  |  |  | 31 |  |  | (4 | ) |  | 992 |
Long-term deferred revenue and financed unearned services revenue |  |  | 1,673 |  |  |  | (22 | ) |  | (3 | ) |  | 1,651 |
Accumulated deficit |  |  | (218 | ) |  |  | 209 |  |  | (5 | ) |  | (9 | )
| (1) | Netting of accounts receivable and deferred revenue balances for certain customer arrangements has been updated to reflect the impact of adoption
| (2) | Reflects capitalization of commissions and reduction of long-term deferred tax assets
| (3) | Reflects cumulative change in revenue and the impact of adoption to the netting of accounts receivable and deferred revenue balances for certain customer arrangements
| (4) | Reflects increase in long-term deferred tax liabilities
| (5) | Reflects cumulative impact to net income (loss)
The following table presents the impacts of adoption of ASC 606 to our statement of operations for the first quarter of fiscal 2018:
|  | Three Months Ended |
|  | July 28, 2017 |
|  | As Previously Reported |  |  | Impact of ASC 606 Adoption | As Adjusted |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Product |  | $ | 723 |  |  | $ | 4 |  |  | $ | 727 |
Software maintenance |  |  | 234 |  |  |  | (11 | ) |  |  | 223 |
Hardware maintenance and other services |  |  | 368 |  |  |  | 3 |  |  |  | 371 |
Net revenues |  |  | 1,325 |  |  |  | (4 | ) |  |  | 1,321 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |  |
Cost of product |  |  | 371 |  |  |  | 5 |  |  |  | 376 |
Cost of software maintenance |  |  | 7 |  |  |  | — |  |  |  | 7 |
Cost of hardware maintenance and other services |  |  | 113 |  |  |  | 1 |  |  |  | 114 |
Total cost of revenues |  |  | 491 |  |  |  | 6 |  |  |  | 497 |
Gross profit |  |  | 834 |  |  |  | (10 | ) |  |  | 824 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | 425 |  |  |  | (2 | ) |  |  | 423 |
Research and development |  |  | 193 |  |  |  | — |  |  |  | 193 |
General and administrative |  |  | 68 |  |  |  | — |  |  |  | 68 |
Total operating expenses |  |  | 686 |  |  |  | (2 | ) |  |  | 684 |
Income from operations |  |  | 148 |  |  |  | (8 | ) |  |  | 140 |
Other income, net |  |  | 5 |  |  |  | — |  |  |  | 5 |
Income before income taxes |  |  | 153 |  |  |  | (8 | ) |  |  | 145 |
Provision for income taxes |  |  | 17 |  |  |  | (3 | ) |  |  | 14 |
Net income |  | $ | 136 |  |  | $ | (5 | ) |  | $ | 131 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.50 |  |  | $ | (0.01 | ) |  | $ | 0.49 |
Diluted |  | $ | 0.49 |  |  | $ | (0.02 | ) |  | $ | 0.47 |
Shares used in net income per share calculations: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 270 |  |  |  | 270 |  |  |  | 270 |
Diluted |  |  | 278 |  |  |  | 278 |  |  |  | 278 |

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