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Supplemental Financial Information | 9 Months Ended
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Jan. 24, 2020
Supplemental Financial Information [Abstract] |
Supplemental Financial Information | 5. 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 statements of cash flows:
|  | January 24, 2020 |  |  | April 26, 2019 |
Cash and cash equivalents |  | $ | 2,705 |  |  | $ | 2,325 |
Restricted cash |  |  | 6 |  |  |  | 6 |
Cash, cash equivalents and restricted cash |  | $ | 2,711 |  |  | $ | 2,331 |
Inventories (in millions):
|  | January 24, 2020 |  |  | April 26, 2019 |
Purchased components |  | $ | 18 |  |  | $ | 8 |
Finished goods |  |  | 95 |  |  |  | 123 |
Inventories |  | $ | 113 |  |  | $ | 131 |
Property and equipment, net (in millions):
|  | January 24, 2020 |  |  | April 26, 2019 |
Land |  | $ | 104 |  |  | $ | 106 |
Buildings and improvements |  |  | 610 |  |  |  | 605 |
Leasehold improvements |  |  | 87 |  |  |  | 86 |
Computer, production, engineering and other equipment |  |  | 844 |  |  |  | 817 |
Computer software |  |  | 359 |  |  |  | 357 |
Furniture and fixtures |  |  | 107 |  |  |  | 105 |
Construction-in-progress |  |  | 26 |  |  |  | 10 |
|  |  | 2,137 |  |  |  | 2,086 |
Accumulated depreciation and amortization |  |  | (1,397 | ) |  |  | (1,327 | )
Property and equipment, net |  | $ | 740 |  |  | $ | 759 |
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, were classified as assets held for sale, and included as other current assets in our condensed consolidated balance sheets as of April 26, 2019. On August 29, 2019, the second closing occurred and we consummated the sale of the land, with a net book value of $53 million, and received cash proceeds of $96 million, resulting in a gain, net of direct selling costs, of $38 million. Other non-current assets (in millions):
|  | January 24, 2020 |  |  | April 26, 2019 |
Deferred tax assets |  | $ | 222 |  |  | $ | 201 |
Operating lease ROU assets |  |  | 142 |  |  |  | — |
Other assets |  |  | 348 |  |  |  | 389 |
Other non-current assets |  | $ | 712 |  |  | $ | 590 |
Other non-current assets as of each January 24, 2020 and April 26, 2019 includes $78 million for our 49% non-controlling equity interest in Lenovo NetApp Technology Limited, a China-based entity that we formed with Lenovo (Beijing) Information Technology Ltd. in fiscal 2019. Accrued expenses (in millions):
|  | January 24, 2020 |  |  | April 26, 2019 |
Accrued compensation and benefits |  | $ | 285 |  |  | $ | 433 |
Product warranty liabilities |  |  | 26 |  |  |  | 25 |
Operating lease liabilities |  |  | 50 |  |  |  | — |
Other current liabilities |  |  | 299 |  |  |  | 393 |
Accrued expenses |  | $ | 660 |  |  | $ | 851 |
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 |  |  | Nine Months Ended |
|  | January 24, 2020 |  |  | January 25, 2019 |  |  | January 24, 2020 |  |  | January 25, 2019 |
Balance at beginning of period |  | $ | 40 |  |  | $ | 39 |  |  | $ | 40 |  |  | $ | 40 |
Expense accrued during the period |  |  | 7 |  |  |  | 6 |  |  |  | 19 |  |  |  | 16 |
Warranty costs incurred |  |  | (6 | ) |  |  | (6 | ) |  |  | (18 | ) |  |  | (17 | )
Balance at end of period |  | $ | 41 |  |  | $ | 39 |  |  | $ | 41 |  |  | $ | 39 |
|  | January 24, 2020 |  |  | April 26, 2019 |
Accrued expenses |  | $ | 26 |  |  | $ | 25 |
Other long-term liabilities |  |  | 15 |  |  |  | 15 |
Total warranty liabilities |  | $ | 41 |  |  | $ | 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):
|  | January 24, 2020 |  |  | April 26, 2019 |
Liability for uncertain tax positions |  | $ | 167 |  |  | $ | 252 |
Income taxes payable |  |  | 399 |  |  |  | 447 |
Product warranty liabilities |  |  | 15 |  |  |  | 15 |
Operating lease liabilities |  |  | 99 |  |  |  | — |
Other liabilities |  |  | 68 |  |  |  | 83 |
Other long-term liabilities |  | $ | 748 |  |  | $ | 797 |
Other income, net (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | January 24, 2020 |  |  | January 25, 2019 |  |  | January 24, 2020 |  |  | January 25, 2019 |
Interest income |  | $ | 10 |  |  | $ | 22 |  |  | $ | 41 |  |  | $ | 68 |
Interest expense |  |  | (14 | ) |  |  | (16 | ) |  |  | (41 | ) |  |  | (44 | )
Other income, net |  |  | 12 |  |  |  | 2 |  |  |  | 26 |  |  |  | 9 |
Total other income, net |  | $ | 8 |  |  | $ | 8 |  |  | $ | 26 |  |  | $ | 33 |
Statements of cash flows additional information (in millions): Supplemental cash flow information related to our operating leases is included in Note 9 ─ Leases. Non-cash investing activities and other supplemental cash flow information are presented below:
|  | Nine Months Ended |
|  | January 24, 2020 |  |  | January 25, 2019 |
Non-cash Investing Activities: |  |  |  |  |  |  |  |
Capital expenditures incurred but not paid |  | $ | 7 |  |  | $ | 6 |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |
Income taxes paid, net of refunds |  | $ | 266 |  |  | $ | 150 |
Interest paid |  | $ | 40 |  |  | $ | 41 |

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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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