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Supplemental Financial Information (Tables) | 12 Months Ended
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Apr. 26, 2024
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 26, 2024 |  |  | April 28, 2023 |
Cash and cash equivalents |  | $ | 1,903 |  |  | $ | 2,316 |
Restricted cash |  |  | 6 |  |  |  | 6 |
Cash, cash equivalents and restricted cash |  | $ | 1,909 |  |  | $ | 2,322 |
Inventories | Inventories (in millions):
|  | April 26, 2024 |  |  | April 28, 2023 |
Purchased components |  | $ | 116 |  |  | $ | 65 |
Finished goods |  |  | 70 |  |  |  | 102 |
Inventories |  | $ | 186 |  |  | $ | 167 |
Property and Equipment, Net | Property and equipment, net (in millions):
|  | April 26, 2024 |  |  | April 28, 2023 |
Land |  | $ | 46 |  |  | $ | 46 |
Buildings and improvements |  |  | 367 |  |  |  | 359 |
Leasehold improvements |  |  | 81 |  |  |  | 91 |
Computer, production, engineering and other equipment |  |  | 1,101 |  |  |  | 1,053 |
Computer software |  |  | 340 |  |  |  | 325 |
Furniture and fixtures |  |  | 77 |  |  |  | 84 |
Construction-in-progress |  |  | 70 |  |  |  | 55 |
|  |  | 2,082 |  |  |  | 2,013 |
Accumulated depreciation and amortization |  |  | (1,478 | ) |  |  | (1,363 | )
Property and equipment, net |  | $ | 604 |  |  | $ | 650 |
Depreciation and Amortization Expense | Depreciation and amortization expense related to property and equipment, net is summarized below (in millions):
|  | Year Ended |
|  | April 26, 2024 |  |  | April 28, 2023 |  |  | April 29, 2022 |
Depreciation and amortization expense |  | $ | 198 |  |  | $ | 181 |  |  | $ | 148 |
Other Non-Current Assets | Other non-current assets (in millions):
|  | April 26, 2024 |  |  | April 28, 2023 |
Deferred tax assets |  | $ | 896 |  |  | $ | 948 |
Operating lease ROU assets |  |  | 247 |  |  |  | 281 |
Other assets |  |  | 360 |  |  |  | 319 |
Other non-current assets |  | $ | 1,503 |  |  | $ | 1,548 |
Accrued Expenses | Accrued expenses (in millions):
|  | April 26, 2024 |  |  | April 28, 2023 |
Accrued compensation and benefits |  | $ | 538 |  |  | $ | 363 |
Product warranty liabilities |  |  | 18 |  |  |  | 17 |
Operating lease liabilities |  |  | 40 |  |  |  | 47 |
Other current liabilities |  |  | 417 |  |  |  | 430 |
Accrued expenses |  | $ | 1,013 |  |  | $ | 857 |
Other Long-term Liabilities | Other long-term liabilities (in millions):
|  | April 26, 2024 |  |  | April 28, 2023 |
Liability for uncertain tax positions |  | $ | 153 |  |  | $ | 144 |
Income taxes payable |  |  | 100 |  |  |  | 215 |
Product warranty liabilities |  |  | 9 |  |  |  | 8 |
Operating lease liabilities |  |  | 220 |  |  |  | 248 |
Other liabilities |  |  | 103 |  |  |  | 93 |
Other long-term liabilities |  | $ | 585 |  |  | $ | 708 |
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 consolidated balance sheets (in millions):
| April 26, 2024 |  |  | April 28, 2023 |
Deferred product revenue | $ | 59 |  |  | $ | 18 |
Deferred services revenue |  | 4,123 |  |  |  | 4,247 |
Financed unearned services revenue |  | 52 |  |  |  | 48 |
Total | $ | 4,234 |  |  | $ | 4,313 |
Reported as: |  |  |  |  |
Short-term | $ | 2,176 |  |  | $ | 2,218 |
Long-term |  | 2,058 |  |  |  | 2,095 |
Total | $ | 4,234 |  |  | $ | 4,313 |
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 26, 2024 |  |  | April 28, 2023 |
Other current assets | $ | 69 |  |  | $ | 64 |
Other non-current assets |  | 100 |  |  |  | 99 |
Total deferred commissions | $ | 169 |  |  | $ | 163 |
Other (Expense) Income, Net | Other income (expense), net (in millions):
|  | Year Ended |
|  | April 26, 2024 |  |  | April 28, 2023 |  |  | April 29, 2022 |
Interest income |  | $ | 112 |  |  | $ | 69 |  |  | $ | 7 |
Interest expense |  |  | (64 | ) |  |  | (67 | ) |  |  | (73 | )
Other, net |  |  | 1 |  |  |  | 46 |  |  |  | 4 |
Other income (expense), net |  | $ | 49 |  |  | $ | 48 |  |  | $ | (62 | )
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 financing activities and other supplemental cash flow information are presented below:
|  | Year Ended |
|  | April 26, 2024 |  |  | April 28, 2023 |  |  | April 29, 2022 |
Non-cash Investing and Financing Activities: |  |  |  |  |  |  |  |  |
Capital expenditures incurred but not paid |  | $ | 16 |  |  | $ | 12 |  |  | $ | 22 |
Liabilities incurred to former owners of acquired business |  | $ | — |  |  | $ | — |  |  | $ | 5 |
Supplemental Cash Flow Information: |  |  |  |  |  |  |  |  |
Income taxes paid, net of refunds |  | $ | 357 |  |  | $ | 386 |  |  | $ | 398 |
Interest paid |  | $ | 59 |  |  | $ | 65 |  |  | $ | 67 |

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