Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Jul. 26, 2019

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

	July 26, 2019									April 26, 2019
	Cost or							Estimated		Cost or							Estimated
	Amortized		Gross Unrealized					Fair		Amortized		Gross Unrealized					Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses			Value
Corporate bonds	$	363	$	—	$	—		$	363	$	1,359	$	2	$	(8	)	$	1,353
U.S. Treasury and government debt securities		195		—		(1	)		194		214		—		(1	)		213
Certificates of deposit		117		—		—			117		117		—		—			117
Mutual funds		39		—		—			39		35		—		—			35
Total debt and equity securities	$	714	$	—	$	(1	)	$	713	$	1,725	$	2	$	(9	)	$	1,718

The following table presents the contractual maturities of our debt investments as of July 26, 2019 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	524	$	523
Due after one year through five years		146		146
Due after five years through ten years		5		5
	$	675	$	674

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

	July 26, 2019
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	2,858		$	2,858	$	—
Corporate bonds		363			—		363
U.S. Treasury and government debt securities		194			131		63
Certificates of deposit		117			—		117
Total cash, cash equivalents and short-term investments	$	3,532		$	2,989	$	543
Other items:
Mutual funds ⁽¹⁾	$	8		$	8	$	—
Mutual funds ⁽²⁾	$	31		$	31	$	—
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