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Leases | 3 Months Ended
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Jul. 31, 2020
Leases [Abstract] |
Leases | 9. Leases We lease real estate, equipment and automobiles in the U.S. and internationally. Our real estate leases, which are responsible for the majority of our aggregate ROU asset and liability balances, include leases for office space, data centers and other facilities, and as of July 31, 2020, have remaining lease terms of up to 15 years. Some of these leases contain options that allow us to extend or terminate the lease agreement. Our equipment leases are primarily for servers and networking equipment and as of July 31, 2020, have remaining lease terms of up to 4 years. As of July 31, 2020, our automobile leases have remaining lease terms of up to 5 years. All our leases are classified as operating leases except for certain immaterial equipment finance leases. In June 2020, we entered into a build-to-suit lease agreement for an office building with future undiscounted payments of approximately $67 million. Because the Company does not control the underlying asset during the construction period, the Company is not considered the owner of the asset under construction for accounting purposes. The lease will commence upon completion of the construction of the office building which is expected to be in fiscal 2021. The initial term of the lease is twenty years with options to renew the lease during the lease term. An ROU asset and related lease liability will be measured and recognized in our financial statements in the period the lease commences. The components of lease cost related to our operating leases were as follows (in millions):
|  | Three Months Ended |
|  | July 31, 2020 |  |  | July 26, 2019 |
Operating lease cost |  | $ | 14 |  |  | $ | 14 |
Variable lease cost |  |  | 3 |  |  |  | 4 |
Total lease cost |  | $ | 17 |  |  | $ | 18 |
Variable lease cost is primarily attributable to amounts paid to lessors for common area maintenance and utility charges under our real estate leases. The supplemental cash flow information related to our operating leases is as follows (in millions):
|  | Three Months Ended |
|  | July 31, 2020 |  |  | July 26, 2019 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 14 |  |  | $ | 13 |
Right-of-use assets obtained in exchange for new operating lease obligations |  | $ | 10 |  |  | $ | 6 |
The supplemental balance sheet information related to our operating leases is as follows (in millions, except lease term and discount rate):
|  | July 31, 2020 |  |  | April 24, 2020 |
Other non-current assets |  | $ | 135 |  |  | $ | 137 |
Total operating lease ROU assets |  | $ | 135 |  |  | $ | 137 |
Accrued expenses |  | $ | 52 |  |  | $ | 51 |
Other long-term liabilities |  |  | 90 |  |  |  | 93 |
Total operating lease liabilities |  | $ | 142 |  |  | $ | 144 |
Weighted Average Remaining Lease Term |  | 3.7 years |  |  | 3.9 years |
Weighted Average Discount Rate |  |  | 2.7 | % |  |  | 2.7 | %
Future minimum operating lease payments as of July 31, 2020, which exclude the undiscounted payments for the build-to-suit lease expected to commence in fiscal 2021, are as follows (in millions):
|  | Operating Leases |
Fiscal 2021 (remainder) |  | $ | 43 |
Fiscal 2022 |  |  | 45 |
Fiscal 2023 |  |  | 26 |
Fiscal 2024 |  |  | 16 |
Fiscal 2025 |  |  | 9 |
Fiscal 2026 |  |  | 7 |
Thereafter |  |  | 3 |
Total lease payments |  | $ | 149 |
Less: Interest |  |  | (7 | )
Total |  | $ | 142 |

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