Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Apr. 24, 2020

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

	April 24, 2020								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	$	155	$	1	$	—	$	156	$	1,359	$	2	$	(8	)	$	1,353
U.S. Treasury and government debt securities		68		—		—		68		214		—		(1	)		213
Certificates of deposit		158		—		—		158		117		—		—			117
Mutual funds		33		—		—		33		35		—		—			35
Total debt and equity securities	$	414	$	1	$	—	$	415	$	1,725	$	2	$	(9	)	$	1,718

The following table presents the contractual maturities of our debt investments as of April 24, 2020 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	315	$	315
Due after one year through five years		61		62
Due after five years through ten years		5		5
	$	381	$	382

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

	April 24, 2020
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	2,500		$	2,500	$	—
Corporate bonds		156			—		156
U.S. Treasury and government debt securities		68			44		24
Certificates of deposit		158			—		158
Total cash, cash equivalents and short-term investments	$	2,882		$	2,544	$	338
Other items:
Mutual funds ⁽¹⁾	$	6		$	6	$	—
Mutual funds ⁽²⁾	$	27		$	27	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	4		$	—	$	4
Foreign currency exchange contracts liabilities ⁽³⁾	$	(2	)	$	—	$	(2	)

	April 26, 2019
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	2,216		$	2,216	$	—
Corporate bonds		1,353			—		1,353
U.S. Treasury and government debt securities		213			131		82
Certificates of deposit		117			—		117
Total cash, cash equivalents and short-term investments	$	3,899		$	2,347	$	1,552
Other items:
Mutual funds ⁽¹⁾	$	6		$	6	$	—
Mutual funds ⁽²⁾	$	29		$	29	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	4		$	—	$	4
Foreign currency exchange contracts liabilities ⁽³⁾	$	(1	)	$	—	$	(1	)

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

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

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