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Supplemental Financial Information | 6 Months Ended
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Oct. 26, 2018
Supplemental Financial Information [Abstract] |
Supplemental Financial Information | 4. Supplemental Financial Information Cash, cash equivalents and restricted cash (in millions): The following table presents cash and cash equivalents as reported in our condensed consolidated balance sheets, as well as the sum of cash, cash equivalents and restricted cash as reported on our condensed consolidated statement of cash flows in accordance with our adoption of the ASU discussed in Note 1 – Description of Business and Significant Accounting Policies:
|  | October 26, 2018 |  |  | April 27, 2018 |
Cash |  | $ | 2,251 |  |  | $ | 2,727 |
Cash equivalents |  |  | 108 |  |  |  | 214 |
Cash and cash equivalents |  | $ | 2,359 |  |  | $ | 2,941 |
Short-term restricted cash |  |  | 5 |  |  |  | 5 |
Long-term restricted cash |  |  | 1 |  |  |  | 1 |
Restricted cash |  | $ | 6 |  |  | $ | 6 |
Cash, cash equivalents and restricted cash |  | $ | 2,365 |  |  | $ | 2,947 |
Inventories (in millions):
|  | October 26, 2018 |  |  | April 27, 2018 |
Purchased components |  | $ | 12 |  |  | $ | 12 |
Finished goods |  |  | 74 |  |  |  | 110 |
Inventories |  | $ | 86 |  |  | $ | 122 |
Property and equipment, net (in millions):
|  | October 26, 2018 |  |  | April 27, 2018 |
Land |  | $ | 106 |  |  | $ | 106 |
Buildings and improvements |  |  | 604 |  |  |  | 594 |
Leasehold improvements |  |  | 87 |  |  |  | 88 |
Computer, production, engineering and other equipment |  |  | 786 |  |  |  | 733 |
Computer software |  |  | 357 |  |  |  | 357 |
Furniture and fixtures |  |  | 104 |  |  |  | 99 |
Construction-in-progress |  |  | 8 |  |  |  | 27 |
|  |  | 2,052 |  |  |  | 2,004 |
Accumulated depreciation and amortization |  |  | (1,282 | ) |  |  | (1,248 | )
Property and equipment, net |  | $ | 770 |  |  | $ | 756 |
In September 2017, we entered into an agreement to sell certain land and buildings located in Sunnyvale, California, through two separate and independent closings, the first of which was completed in the third quarter of fiscal 2018. The remaining properties, consisting of land with a net book value of $52 million, were classified as assets held for sale, and included as other current assets in our condensed consolidated balance sheets as of October 26, 2018 and April 27, 2018. We will consummate the sale of these properties, and receive cash proceeds of $96 million, upon the completion of the second closing, which is expected to occur within the next 12 months. That closing is subject to due diligence, certain termination rights and customary closing conditions, including local governmental approval of the subdivision of a land parcel. Other non-current assets (in millions):
|  | October 26, 2018 |  |  | April 27, 2018 |
Deferred tax assets |  | $ | 223 |  |  | $ | 229 |
Other assets |  |  | 276 |  |  |  | 221 |
Other non-current assets |  | $ | 499 |  |  | $ | 450 |
Accrued expenses (in millions):
|  | October 26, 2018 |  |  | April 27, 2018 |
Accrued compensation and benefits |  | $ | 314 |  |  | $ | 441 |
Product warranty liabilities |  |  | 26 |  |  |  | 25 |
Other current liabilities |  |  | 312 |  |  |  | 359 |
Accrued expenses |  | $ | 652 |  |  | $ | 825 |
Product warranty liabilities: Equipment and software systems sales include a standard product warranty. The following tables summarize the activity related to product warranty liabilities and their balances as reported in our condensed consolidated balance sheets (in millions):
|  | Three Months Ended |  |  | Six Months Ended |
|  | October 26, 2018 |  |  | October 27, 2017 |  |  | October 26, 2018 |  |  | October 27, 2017 |
Balance at beginning of period |  | $ | 38 |  |  | $ | 44 |  |  | $ | 40 |  |  | $ | 50 |
Expense accrued during the period |  |  | 6 |  |  |  | 7 |  |  |  | 10 |  |  |  | 8 |
Warranty costs incurred |  |  | (5 | ) |  |  | (7 | ) |  |  | (11 | ) |  |  | (14 | )
Balance at end of period |  | $ | 39 |  |  | $ | 44 |  |  | $ | 39 |  |  | $ | 44 |
|  | October 26, 2018 |  |  | April 27, 2018 |
Accrued expenses |  | $ | 26 |  |  | $ | 25 |
Other long-term liabilities |  |  | 13 |  |  |  | 15 |
Total warranty liabilities |  | $ | 39 |  |  | $ | 40 |
Warranty expense accrued during the period includes amounts accrued for systems at the time of shipment, adjustments for changes in estimated costs for warranties on systems shipped in the period and changes in estimated costs for warranties on systems shipped in prior periods. Other long-term liabilities (in millions):
|  | October 26, 2018 |  |  | April 27, 2018 |
Liability for uncertain tax positions |  | $ | 324 |  |  | $ | 314 |
Income taxes payable |  |  | 476 |  |  |  | 549 |
Product warranty liabilities |  |  | 13 |  |  |  | 15 |
Other liabilities |  |  | 86 |  |  |  | 114 |
Other long-term liabilities |  | $ | 899 |  |  | $ | 992 |
Statements of cash flows additional information (in millions): Non-cash investing and financing activities and supplemental cash flow information are as follows:
|  | Six Months Ended |
|  | October 26, 2018 |  |  | October 27, 2017 |
Non-cash Investing and Financing Activities: |  |  |  |  |  |  |  |
Capital expenditures incurred but not paid |  | $ | 7 |  |  | $ | 17 |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |
Income taxes paid, net of refunds |  | $ | 104 |  |  | $ | 28 |
Interest paid |  | $ | 26 |  |  | $ | 24 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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