Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Jan. 29, 2021

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

	January 29, 2021								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	$	68	$	1	$	—	$	69	$	155	$	1	$	—	$	156
U.S. Treasury and government debt securities		17		—		—		17		68		—		—		68
Certificates of deposit		59		—		—		59		158		—		—		158
Mutual funds		39		—		—		39		33		—		—		33
Total debt and equity securities	$	183	$	1	$	—	$	184	$	414	$	1	$	—	$	415

The following table presents the contractual maturities of our debt investments as of January 29, 2021 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	95	$	95
Due after one year through five years		44		45
Due after five years through ten years		5		5
	$	144	$	145

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

	January 29, 2021
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	3,749		$	3,749	$	—
Corporate bonds		69			—		69
U.S. Treasury and government debt securities		17			4		13
Certificates of deposit		59			—		59
Total cash, cash equivalents and short-term investments	$	3,894		$	3,753	$	141
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