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Segment, Geographic, and Significant Customer Information | 12 Months Ended
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Apr. 26, 2024
Segment Reporting [Abstract] |
Segment, Geographic, and Significant Customer Information | 15. Segment, Geographic, and Significant Customer Information Our operations are organized into two segments: Hybrid Cloud and Public Cloud. The two segments are based on the information reviewed by our Chief Operating Decision Maker (CODM), who is the Chief Executive Officer, to evaluate results and allocate resources. The CODM measures performance of each segment based on segment revenue and segment gross profit. We do not allocate to our segments certain cost of revenues which we manage at the corporate level. These unallocated costs include stock-based compensation and amortization of intangible assets. We do not allocate assets to our segments. Hybrid Cloud offers a unified data storage portfolio of storage management and infrastructure solutions that help customers modernize their data centers. This portfolio supports structured and unstructured data with unified storage optimized for flash, disk, and cloud storage to handle data-intensive workloads and applications. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services. Public Cloud offers a portfolio of products delivered primarily as-a-service, including related support. This portfolio includes cloud storage and CloudOps services. Public Cloud includes certain reseller arrangements in which the timing of our consideration follows the end user consumption of the reseller services. Segment Revenues and Gross Profit Financial information by segment is as follows (in millions, except percentages):
| Year Ended April 26, 2024 |
| Hybrid Cloud |  |  | Public Cloud |  |  | Consolidated |
Product revenues | $ | 2,849 |  |  | $ | — |  |  | $ | 2,849 |
Support revenues |  | 2,488 |  |  |  | — |  |  |  | 2,488 |
Professional and other services revenues |  | 320 |  |  |  | — |  |  |  | 320 |
Public cloud revenues |  | — |  |  |  | 611 |  |  |  | 611 |
Net revenues |  | 5,657 |  |  |  | 611 |  |  |  | 6,268 |
Cost of product revenues |  | 1,131 |  |  |  | — |  |  |  | 1,131 |
Cost of support revenues |  | 195 |  |  |  | — |  |  |  | 195 |
Cost of professional and other services revenues |  | 243 |  |  |  | — |  |  |  | 243 |
Cost of public cloud revenues |  | — |  |  |  | 203 |  |  |  | 203 |
Segment cost of revenues |  | 1,569 |  |  |  | 203 |  |  |  | 1,772 |
Segment gross profit | $ | 4,088 |  |  | $ | 408 |  |  | $ | 4,496 |
Segment gross margin |  | 72.3 | % |  |  | 66.8 | % |  |  | 71.7 | %
Unallocated cost of revenues 1 |  |  |  |  |  |  |  | 63 |
Total gross profit |  |  |  |  |  |  | $ | 4,433 |
Total gross margin |  |  |  |  |  |  |  | 70.7 | %
1 Unallocated cost of revenues are composed of $29 million of stock-based compensation expense and $34 million of amortization of intangible assets. |
| Year Ended April 28, 2023 |
| Hybrid Cloud |  |  | Public Cloud |  |  | Consolidated |
Product revenues | $ | 3,049 |  |  | $ | — |  |  | $ | 3,049 |
Support revenues |  | 2,419 |  |  |  | — |  |  |  | 2,419 |
Professional and other services revenues |  | 319 |  |  |  | — |  |  |  | 319 |
Public cloud revenues |  | — |  |  |  | 575 |  |  |  | 575 |
Net revenues |  | 5,787 |  |  |  | 575 |  |  |  | 6,362 |
Cost of product revenues |  | 1,511 |  |  |  | — |  |  |  | 1,511 |
Cost of support revenues |  | 181 |  |  |  | — |  |  |  | 181 |
Cost of professional and other services revenues |  | 211 |  |  |  | — |  |  |  | 211 |
Cost of public cloud revenues |  | — |  |  |  | 184 |  |  |  | 184 |
Segment cost of revenues |  | 1,903 |  |  |  | 184 |  |  |  | 2,087 |
Segment gross profit | $ | 3,884 |  |  | $ | 391 |  |  | $ | 4,275 |
Segment gross margin |  | 67.1 | % |  |  | 68.0 | % |  |  | 67.2 | %
Unallocated cost of revenues 1 |  |  |  |  |  |  |  | 66 |
Total gross profit |  |  |  |  |  |  | $ | 4,209 |
Total gross margin |  |  |  |  |  |  |  | 66.2 | %
1 Unallocated cost of revenues are composed of $24 million of stock-based compensation expense and $42 million of amortization of intangible assets. |
| Year Ended April 29, 2022 |
| Hybrid Cloud |  |  | Public Cloud |  |  | Consolidated |
Product revenues | $ | 3,284 |  |  | $ | — |  |  | $ | 3,284 |
Support revenues |  | 2,344 |  |  |  | — |  |  |  | 2,344 |
Professional and other services revenues |  | 294 |  |  |  | — |  |  |  | 294 |
Public cloud revenues |  | — |  |  |  | 396 |  |  |  | 396 |
Net revenues |  | 5,922 |  |  |  | 396 |  |  |  | 6,318 |
Cost of product revenues |  | 1,541 |  |  |  | — |  |  |  | 1,541 |
Cost of support revenues |  | 184 |  |  |  | — |  |  |  | 184 |
Cost of professional and other services revenues |  | 205 |  |  |  | — |  |  |  | 205 |
Cost of public cloud revenues |  | — |  |  |  | 118 |  |  |  | 118 |
Segment cost of revenues |  | 1,930 |  |  |  | 118 |  |  |  | 2,048 |
Segment gross profit | $ | 3,992 |  |  | $ | 278 |  |  | $ | 4,270 |
Segment gross margin |  | 67.4 | % |  |  | 70.2 | % |  |  | 67.6 | %
Unallocated cost of revenues 1 |  |  |  |  |  |  |  | 50 |
Total gross profit |  |  |  |  |  |  | $ | 4,220 |
Total gross margin |  |  |  |  |  |  |  | 66.8 | %
1 Unallocated cost of revenues are composed of $17 million of stock-based compensation expense and $33 million of amortization of intangible assets. |
Geographical Revenues and Certain Assets Revenues summarized by geographic region are as follows (in millions):
|  | Year Ended |
|  | April 26, 2024 |  |  | April 28, 2023 |  |  | April 29, 2022 |
United States, Canada and Latin America (Americas) |  | $ | 3,193 |  |  | $ | 3,237 |  |  | $ | 3,343 |
Europe, Middle East and Africa (EMEA) |  |  | 2,104 |  |  |  | 2,148 |  |  |  | 2,003 |
Asia Pacific (APAC) |  |  | 971 |  |  |  | 977 |  |  |  | 972 |
Net revenues |  | $ | 6,268 |  |  | $ | 6,362 |  |  | $ | 6,318 |
Effective in the first quarter of fiscal 2024, management began evaluating revenues by geographic region based on the location to which products and services are delivered, rather than based on the location from which the customer relationship is managed. Prior year numbers have been recast to conform to the current year presentation. Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $2,952 million, $3,007 million and $3,095 million during fiscal 2024, 2023 and 2022, respectively. The majority of our assets, excluding cash, cash equivalents, short-term investments and accounts receivable, were attributable to our domestic operations. The following table presents cash, cash equivalents and short-term investments held in the U.S. and internationally in various foreign subsidiaries (in millions):
|  | April 26, 2024 |  |  | April 28, 2023 |
U.S. |  | $ | 1,142 |  |  | $ | 887 |
International |  |  | 2,110 |  |  |  | 2,183 |
Total |  | $ | 3,252 |  |  | $ | 3,070 |
With the exception of property and equipment, we do not identify or allocate our long-lived assets by geographic area. The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):
|  | April 26, 2024 |  |  | April 28, 2023 |
U.S. |  | $ | 378 |  |  | $ | 413 |
International |  |  | 226 |  |  |  | 237 |
Total |  | $ | 604 |  |  | $ | 650 |
Significant Customers The following customers, each of which is a distributor, accounted for 10% or more of our net revenues:
|  | Year Ended |
|  | April 26, 2024 |  |  | April 28, 2023 |  |  | April 29, 2022 |
Arrow Electronics, Inc. |  |  | 22 | % |  |  | 24 | % |  |  | 24 | %
TD Synnex Corporation (previously presented as Tech Data Corporation) |  |  | 22 | % |  |  | 21 | % |  |  | 21 | %
The following customers accounted for 10% or more of accounts receivable:
|  | April 26, 2024 |  |  | April 28, 2023 |
Arrow Electronics, Inc. |  |  | 10 | % |  |  | 15 | %
TD Synnex Corporation (previously presented as Tech Data Corporation) |  |  | 26 | % |  |  | 19 | %

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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