Financial Instruments and Fair Value Measurements (Tables)

3 Months Ended

Jul. 31, 2020

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

	July 31, 2020								April 24, 2020
	Cost or						Estimated		Cost or						Estimated
	Amortized		Gross Unrealized				Fair		Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
Corporate bonds	$	111	$	2	$	—	$	113	$	155	$	1	$	—	$	156
U.S. Treasury and government debt Securities		26		1		—		27		68		—		—		68
Certificates of deposit		116		—		—		116		158		—		—		158
Mutual funds		37		—		—		37		33		—		—		33
Total debt and equity securities	$	290	$	3	$	—	$	293	$	414	$	1	$	—	$	415

The following table presents the contractual maturities of our debt investments as of July 31, 2020 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	194	$	195
Due after one year through five years		54		56
Due after five years through ten years		5		5
	$	253	$	256

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

	July 31, 2020
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	3,517		$	3,517	$	—
Corporate bonds		113			—		113
U.S. Treasury and government debt securities		27			14		13
Certificates of deposit		116			—		116
Total cash, cash equivalents and short-term investments	$	3,773		$	3,531	$	242
Other items:
Mutual funds ⁽¹⁾	$	7		$	7	$	—
Mutual funds ⁽²⁾	$	30		$	30	$	—
Foreign currency exchange contracts assets ⁽¹⁾	$	16		$	—	$	16
Foreign currency exchange contracts liabilities ⁽³⁾	$	(8	)	$	—	$	(8	)

⁽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