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v3.22.1

Supplemental Financial Information (Tables) | 12 Months Ended
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Apr. 29, 2022
Supplemental Financial Information [Abstract] |
Cash and Cash Equivalents | Cash and cash equivalents (in millions): The following table presents cash and cash equivalents as reported in our consolidated balance sheets, as well as the sum of cash, cash equivalents and restricted cash as reported on our consolidated statements of cash flows:
|  | April 29, 2022 |  |  | April 30, 2021 |
Cash and cash equivalents |  | $ | 4,112 |  |  | $ | 4,529 |
Restricted cash |  |  | 7 |  |  |  | 6 |
Cash, cash equivalents and restricted cash |  | $ | 4,119 |  |  | $ | 4,535 |
Inventories | Inventories (in millions):
|  | April 29, 2022 |  |  | April 30, 2021 |
Purchased components |  | $ | 131 |  |  | $ | 22 |
Finished goods |  |  | 73 |  |  |  | 92 |
Inventories |  | $ | 204 |  |  | $ | 114 |
Property and Equipment, Net | Property and equipment, net (in millions):
|  | April 29, 2022 |  |  | April 30, 2021 |
Land |  | $ | 46 |  |  | $ | 46 |
Buildings and improvements |  |  | 353 |  |  |  | 356 |
Leasehold improvements |  |  | 92 |  |  |  | 83 |
Computer, production, engineering and other equipment |  |  | 904 |  |  |  | 869 |
Computer software |  |  | 316 |  |  |  | 305 |
Furniture and fixtures |  |  | 76 |  |  |  | 93 |
Construction-in-progress |  |  | 65 |  |  |  | 46 |
|  |  | 1,852 |  |  |  | 1,798 |
Accumulated depreciation and amortization |  |  | (1,250 | ) |  |  | (1,273 | )
Property and equipment, net |  | $ | 602 |  |  | $ | 525 |
Depreciation and Amortization Expense | Depreciation and amortization expense related to property and equipment, net is summarized below (in millions):
|  | Year Ended |
|  | April 29, 2022 |  |  | April 30, 2021 |  |  | April 24, 2020 |
Depreciation and amortization expense |  | $ | 148 |  |  | $ | 158 |  |  | $ | 154 |
Other Non-Current Assets | Other non-current assets (in millions):
|  | April 29, 2022 |  |  | April 30, 2021 |
Deferred tax assets |  | $ | 362 |  |  | $ | 219 |
Operating lease ROU assets |  |  | 294 |  |  |  | 114 |
Other assets |  |  | 335 |  |  |  | 361 |
Other non-current assets |  | $ | 991 |  |  | $ | 694 |
Accrued Expenses | Accrued expenses (in millions):
|  | April 29, 2022 |  |  | April 30, 2021 |
Accrued compensation and benefits |  | $ | 462 |  |  | $ | 505 |
Product warranty liabilities |  |  | 17 |  |  |  | 21 |
Operating lease liabilities |  |  | 47 |  |  |  | 49 |
Other current liabilities |  |  | 399 |  |  |  | 395 |
Accrued expenses |  | $ | 925 |  |  | $ | 970 |
Product Warranty Liabilities | The following tables summarize the activity related to product warranty liabilities and their balances as reported in our consolidated balance sheets (in millions):
|  | Year Ended |
|  | April 29, 2022 |  |  | April 30, 2021 |  |  | April 24, 2020 |
Balance at beginning of period |  | $ | 32 |  |  | $ | 41 |  |  | $ | 40 |
Expense accrued during the period |  |  | 13 |  |  |  | 13 |  |  |  | 26 |
Warranty costs incurred |  |  | (19 | ) |  |  | (22 | ) |  |  | (25 | )
Balance at end of period |  | $ | 26 |  |  | $ | 32 |  |  | $ | 41 |
|  | April 29, 2022 |  |  | April 30, 2021 |
Accrued expenses |  | $ | 17 |  |  | $ | 21 |
Other long-term liabilities |  |  | 9 |  |  |  | 11 |
Total warranty liabilities |  | $ | 26 |  |  | $ | 32 |
Other Long-term Liabilities | Other long-term liabilities (in millions):
|  | April 29, 2022 |  |  | April 30, 2021 |
Liability for uncertain tax positions |  | $ | 131 |  |  | $ | 127 |
Income taxes payable |  |  | 303 |  |  |  | 351 |
Product warranty liabilities |  |  | 9 |  |  |  | 11 |
Operating lease liabilities |  |  | 257 |  |  |  | 71 |
Other liabilities |  |  | 88 |  |  |  | 90 |
Other long-term liabilities |  | $ | 788 |  |  | $ | 650 |
Deferred Revenue and Financed Unearned Services Revenue | The following table summarizes the components of our deferred revenue and financed unearned services balance as reported in our consolidated balance sheets (in millions):
| April 29, 2022 |  |  | April 30, 2021 |
Deferred product revenue | $ | 31 |  |  | $ | 59 |
Deferred services revenue |  | 4,140 |  |  |  | 3,873 |
Financed unearned services revenue |  | 61 |  |  |  | 71 |
Total | $ | 4,232 |  |  | $ | 4,003 |
Reported as: |  |  |  |  |
Short-term | $ | 2,171 |  |  | $ | 2,062 |
Long-term |  | 2,061 |  |  |  | 1,941 |
Total | $ | 4,232 |  |  | $ | 4,003 |
Summary of Activity Related to Deferred Commissions and their Balances in Condensed Consolidated Balance Sheets | The following table summarizes deferred commissions balances as reported in our consolidated balance sheets (in millions):
| April 29, 2022 |  |  | April 30, 2021 |
Other current assets | $ | 80 |  |  | $ | 86 |
Other non-current assets |  | 117 |  |  |  | 111 |
Total deferred commissions | $ | 197 |  |  | $ | 197 |
During the years ended April 29, 2022 and April 30, 2021, we recognized amortization expense from deferred commissions of $146 million and $101 million, respectively, and there were no impairment charges recognized.
Other (Expense) Income, Net | Other expense, net (in millions):
|  | Year Ended |
|  | April 29, 2022 |  |  | April 30, 2021 |  |  | April 24, 2020 |
Interest income |  | $ | 7 |  |  | $ | 9 |  |  | $ | 48 |
Interest expense |  |  | (73 | ) |  |  | (74 | ) |  |  | (55 | )
Other, net |  |  | 4 |  |  |  | (4 | ) |  |  | 6 |
Other expense, net |  | $ | (62 | ) |  | $ | (69 | ) |  | $ | (1 | )
Statements of Cash Flows Additional Information | Supplemental cash flow information related to our operating leases is included in Note 9 – Leases. Non-cash investing and other supplemental cash flow information are presented below:
|  | Year Ended |
|  | April 29, 2022 |  |  | April 30, 2021 |  |  | April 24, 2020 |
Non-cash Investing and Financing Activities: |  |  |  |  |  |  |  |  |
Capital expenditures incurred but not paid |  | $ | 22 |  |  | $ | 15 |  |  | $ | 15 |
Indemnity holdback related to business combination |  | $ | 5 |  |  | $ | — |  |  | $ | — |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |  |
Income taxes paid, net of refunds |  | $ | 398 |  |  | $ | 338 |  |  | $ | 276 |
Interest paid |  | $ | 67 |  |  | $ | 57 |  |  | $ | 50 |

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