Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Jan. 25, 2019

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

	January 25, 2019									April 27, 2018
	Cost or							Estimated		Cost or							Estimated
	Amortized		Gross Unrealized					Fair		Amortized		Gross Unrealized					Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses			Value
Corporate bonds	$	1,523	$	—	$	(34	)	$	1,489	$	1,865	$	1	$	(39	)	$	1,827
U.S. Treasury and government debt securities		283		—		(2	)		281		497		—		(5	)		492
Commercial paper		—		—		—			—		230		—		—			230
Certificates of deposit		117		—		—			117		115		—		—			115
Mutual funds		32		—		—			32		31		—		—			31
Total debt and equity securities	$	1,955	$	—	$	(36	)	$	1,919	$	2,738	$	1	$	(44	)	$	2,695

The following table presents the contractual maturities of our debt investments as of January 25, 2019 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	676	$	673
Due after one year through five years		697		685
Due after five years through ten years		550		529
	$	1,923	$	1,887

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

	January 25, 2019
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	2,162		$	2,162	$	—
Corporate bonds		1,489			—		1,489
U.S. Treasury and government debt securities		281			147		134
Certificates of deposit		117			—		117
Total cash, cash equivalents and short-term investments	$	4,049		$	2,309	$	1,740
Other items:
Mutual funds ⁽¹⁾	$	5		$	5	$	—
Mutual funds ⁽²⁾	$	27		$	27	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	1		$	—	$	1
Foreign currency exchange contracts liabilities ⁽³⁾	$	(3	)	$	—	$	(3	)

⁽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