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v3.23.1

Supplemental Financial Information (Tables) | 12 Months Ended
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Apr. 28, 2023
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 28, 2023 |  |  | April 29, 2022 |
Cash and cash equivalents |  | $ | 2,316 |  |  | $ | 4,112 |
Restricted cash |  |  | 6 |  |  |  | 7 |
Cash, cash equivalents and restricted cash |  | $ | 2,322 |  |  | $ | 4,119 |
Inventories | Inventories (in millions):
|  | April 28, 2023 |  |  | April 29, 2022 |
Purchased components |  | $ | 65 |  |  | $ | 131 |
Finished goods |  |  | 102 |  |  |  | 73 |
Inventories |  | $ | 167 |  |  | $ | 204 |
Property and Equipment, Net | Property and equipment, net (in millions):
|  | April 28, 2023 |  |  | April 29, 2022 |
Land |  | $ | 46 |  |  | $ | 46 |
Buildings and improvements |  |  | 359 |  |  |  | 353 |
Leasehold improvements |  |  | 91 |  |  |  | 92 |
Computer, production, engineering and other equipment |  |  | 1,053 |  |  |  | 904 |
Computer software |  |  | 325 |  |  |  | 316 |
Furniture and fixtures |  |  | 84 |  |  |  | 76 |
Construction-in-progress |  |  | 55 |  |  |  | 65 |
|  |  | 2,013 |  |  |  | 1,852 |
Accumulated depreciation and amortization |  |  | (1,363 | ) |  |  | (1,250 | )
Property and equipment, net |  | $ | 650 |  |  | $ | 602 |
Depreciation and Amortization Expense | Depreciation and amortization expense related to property and equipment, net is summarized below (in millions):
|  | Year Ended |
|  | April 28, 2023 |  |  | April 29, 2022 |  |  | April 30, 2021 |
Depreciation and amortization expense |  | $ | 181 |  |  | $ | 148 |  |  | $ | 158 |
Other Non-Current Assets | Other non-current assets (in millions):
|  | April 28, 2023 |  |  | April 29, 2022 |
Deferred tax assets |  | $ | 948 |  |  | $ | 362 |
Operating lease ROU assets |  |  | 281 |  |  |  | 294 |
Other assets |  |  | 319 |  |  |  | 335 |
Other non-current assets |  | $ | 1,548 |  |  | $ | 991 |
Accrued Expenses | Accrued expenses (in millions):
|  | April 28, 2023 |  |  | April 29, 2022 |
Accrued compensation and benefits |  | $ | 363 |  |  | $ | 462 |
Product warranty liabilities |  |  | 17 |  |  |  | 17 |
Operating lease liabilities |  |  | 47 |  |  |  | 47 |
Other current liabilities |  |  | 430 |  |  |  | 399 |
Accrued expenses |  | $ | 857 |  |  | $ | 925 |
Other Long-term Liabilities | Other long-term liabilities (in millions):
|  | April 28, 2023 |  |  | April 29, 2022 |
Liability for uncertain tax positions |  | $ | 144 |  |  | $ | 131 |
Income taxes payable |  |  | 215 |  |  |  | 303 |
Product warranty liabilities |  |  | 8 |  |  |  | 9 |
Operating lease liabilities |  |  | 248 |  |  |  | 257 |
Other liabilities |  |  | 93 |  |  |  | 88 |
Other long-term liabilities |  | $ | 708 |  |  | $ | 788 |
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 28, 2023 |  |  | April 29, 2022 |
Deferred product revenue | $ | 18 |  |  | $ | 31 |
Deferred services revenue |  | 4,247 |  |  |  | 4,140 |
Financed unearned services revenue |  | 48 |  |  |  | 61 |
Total | $ | 4,313 |  |  | $ | 4,232 |
Reported as: |  |  |  |  |
Short-term | $ | 2,218 |  |  | $ | 2,171 |
Long-term |  | 2,095 |  |  |  | 2,061 |
Total | $ | 4,313 |  |  | $ | 4,232 |
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 28, 2023 |  |  | April 29, 2022 |
Other current assets | $ | 64 |  |  | $ | 80 |
Other non-current assets |  | 99 |  |  |  | 117 |
Total deferred commissions | $ | 163 |  |  | $ | 197 |
During the years ended April 28, 2023 and April 29, 2022, we recognized amortization expense from deferred commissions of $116 million and $146 million, respectively, and there were no impairment charges recognized.
Other (Expense) Income, Net | Other income (expense), net (in millions):
|  | Year Ended |
|  | April 28, 2023 |  |  | April 29, 2022 |  |  | April 30, 2021 |
Interest income |  | $ | 69 |  |  | $ | 7 |  |  | $ | 9 |
Interest expense |  |  | (67 | ) |  |  | (73 | ) |  |  | (74 | )
Other, net |  |  | 46 |  |  |  | 4 |  |  |  | (4 | )
Other income (expense), net |  | $ | 48 |  |  | $ | (62 | ) |  | $ | (69 | )
Other, net for fiscal 2023 includes $22 million of other income for non-refundable, up-front payments from customers in Russia for support contracts, which we were not able to fulfill due to imposed sanctions and for which we have no remaining legal obligation to perform. Other, net for fiscal 2023 also 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 | 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 28, 2023 |  |  | April 29, 2022 |  |  | April 30, 2021 |
Non-cash Investing and Financing Activities: |  |  |  |  |  |  |  |  |
Capital expenditures incurred but not paid |  | $ | 12 |  |  | $ | 22 |  |  | $ | 15 |
Liabilities incurred to former owners of acquired business |  | $ | — |  |  | $ | 5 |  |  | $ | — |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |  |
Income taxes paid, net of refunds |  | $ | 386 |  |  | $ | 398 |  |  | $ | 338 |
Interest paid |  | $ | 65 |  |  | $ | 67 |  |  | $ | 57 |

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