XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Supplemental Financial Information | 3 Months Ended
--- | ---
Jul. 29, 2022
Supplemental Financial Information [Abstract] |
Supplemental Financial Information | 5. Supplemental Financial Information Cash and cash equivalents (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:
|  | July 29, 2022 |  |  | April 29, 2022 |
Cash and cash equivalents |  | $ | 3,288 |  |  | $ | 4,112 |
Restricted cash |  |  | 7 |  |  |  | 7 |
Cash, cash equivalents and restricted cash |  | $ | 3,295 |  |  | $ | 4,119 |
Inventories (in millions):
|  | July 29, 2022 |  |  | April 29, 2022 |
Purchased components |  | $ | 145 |  |  | $ | 131 |
Finished goods |  |  | 87 |  |  |  | 73 |
Inventories |  | $ | 232 |  |  | $ | 204 |
Property and equipment, net (in millions):
|  | July 29, 2022 |  |  | April 29, 2022 |
Land |  | $ | 46 |  |  | $ | 46 |
Buildings and improvements |  |  | 354 |  |  |  | 353 |
Leasehold improvements |  |  | 93 |  |  |  | 92 |
Computer, production, engineering and other equipment |  |  | 944 |  |  |  | 904 |
Computer software |  |  | 321 |  |  |  | 316 |
Furniture and fixtures |  |  | 77 |  |  |  | 76 |
Construction-in-progress |  |  | 67 |  |  |  | 65 |
|  |  | 1,902 |  |  |  | 1,852 |
Accumulated depreciation and amortization |  |  | (1,280 | ) |  |  | (1,250 | )
Property and equipment, net |  | $ | 622 |  |  | $ | 602 |
Other non-current assets (in millions):
|  | July 29, 2022 |  |  | April 29, 2022 |
Deferred tax assets |  | $ | 377 |  |  | $ | 362 |
Operating lease ROU assets |  |  | 318 |  |  |  | 294 |
Other assets |  |  | 306 |  |  |  | 335 |
Other non-current assets |  | $ | 1,001 |  |  | $ | 991 |
Other non-current assets as of July 29, 2022 and April 29, 2022 include $75 million and $73 million, respectively, for our 49% non-controlling equity interest in Lenovo NetApp Technology Limited (LNTL), a China-based entity that we formed with Lenovo (Beijing) Information Technology Ltd. in fiscal 2019. LNTL is integral to our sales channel strategy in China, acting as a distributor of our offerings to customers headquartered there, and involved in certain OEM sales to Lenovo. LNTL is also focused on localizing our products and services, and developing new joint offerings for the China market by leveraging NetApp and Lenovo technologies. Our sales to LNTL are conducted on terms equivalent to those prevailing in an arm’s length transaction. Accrued expenses (in millions):
|  | July 29, 2022 |  |  | April 29, 2022 |
Accrued compensation and benefits |  | $ | 282 |  |  | $ | 462 |
Product warranty liabilities |  |  | 17 |  |  |  | 17 |
Operating lease liabilities |  |  | 50 |  |  |  | 47 |
Other current liabilities |  |  | 373 |  |  |  | 399 |
Accrued expenses |  | $ | 722 |  |  | $ | 925 |
Other long-term liabilities (in millions):
|  | July 29, 2022 |  |  | April 29, 2022 |
Liability for uncertain tax positions |  | $ | 137 |  |  | $ | 131 |
Income taxes payable |  |  | 303 |  |  |  | 303 |
Product warranty liabilities |  |  | 9 |  |  |  | 9 |
Operating lease liabilities |  |  | 278 |  |  |  | 257 |
Other liabilities |  |  | 116 |  |  |  | 88 |
Other long-term liabilities |  | $ | 843 |  |  | $ | 788 |
Deferred revenue and financed unearned services revenue The following table summarizes the components of our deferred revenue and financed unearned services revenue balance as reported in our condensed consolidated balance sheets (in millions):
|  | July 29, 2022 |  |  | April 29, 2022 |
Deferred product revenue |  | $ | 36 |  |  | $ | 31 |
Deferred services revenue |  |  | 4,079 |  |  |  | 4,140 |
Financed unearned services revenue |  |  | 55 |  |  |  | 61 |
Total |  | $ | 4,170 |  |  | $ | 4,232 |
Reported as: |  |  |  |  |  |
Short-term |  | $ | 2,088 |  |  | $ | 2,171 |
Long-term |  |  | 2,082 |  |  |  | 2,061 |
Total |  | $ | 4,170 |  |  | $ | 4,232 |
Deferred product revenue represents unrecognized revenue related to undelivered product commitments and other product deliveries that have not met all revenue recognition criteria. Deferred services revenue represents customer payments made in advance for services, which include software and hardware support contracts, certain public cloud services and other services. Financed unearned services revenue represents undelivered services for which cash has been received under certain third-party financing arrangements. See Note 15 – Commitments and Contingencies for additional information related to these arrangements. During the three months ended July 29, 2022 and July 30, 2021, we recognized revenue of $706 million and $617 million, respectively, that was included in the deferred revenue and financed unearned services revenue balance at the beginning of the respective periods. As of July 29, 2022, the aggregate amount of the transaction price allocated to the remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied approximated our deferred revenue and unearned services revenue balance. Because customer orders are typically placed on an as-needed basis, and cancellable without penalty prior to shipment, orders in backlog may not be a meaningful indicator of future revenue and have not been included in this amount. We expect to recognize as revenue approximately 50% of our deferred revenue and financed unearned services revenue balance in the next 12 months, approximately 23% in the next 13 to 24 months, and the remainder thereafter. Deferred commissions The following table summarizes deferred commissions balances as reported in our condensed consolidated balance sheets (in millions):
|  | July 29, 2022 |  |  | April 29, 2022 |
Other current assets |  | $ | 83 |  |  | $ | 80 |
Other non-current assets |  |  | 111 |  |  |  | 117 |
Total deferred commissions |  | $ | 194 |  |  | $ | 197 |
Other income (expense), net (in millions):
|  | Three Months Ended |
|  | July 29, 2022 |  |  | July 30, 2021 |
Interest income |  | $ | 7 |  |  | $ | 2 |
Interest expense |  |  | (18 | ) |  |  | (18 | )
Other, net |  |  | 26 |  |  |  | 4 |
Total other income (expense), net |  | $ | 15 |  |  | $ | (12 | )
In the first quarter of fiscal 2023, Other, net includes a $32 million gain recognized on our sale of a minority equity interest in a privately held company for proceeds of approximately $59 million. Statements of cash flows additional information (in millions): Supplemental cash flow information related to our operating leases is included in Note 8 ─ Leases. Non-cash investing and financing activities and other supplemental cash flow information are presented below:
|  | Three Months Ended |
|  | July 29, 2022 |  |  | July 30, 2021 |  |  |
Non-cash Investing and Financing Activities: |  |  |  |  |  |  |  |
Capital expenditures incurred but not paid |  | $ | 20 |  |  | $ | 15 |  |  |
Liabilities incurred to former owners of acquired business |  | $ | 3 |  |  | $ | — |  |  |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |
Income taxes paid, net of refunds |  | $ | 12 |  |  | $ | 17 |  |  |
Interest paid |  | $ | 27 |  |  | $ | 27 |  |  |

X
- Definition Supplemental financial information. + References No definition available. + Details
Name: | ntap_SupplementalFinancialInformationAbstract
Namespace Prefix: | ntap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://asc.fasb.org/topic&trid=2122208 + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration