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Leases (Tables)
6 Months Ended
Oct. 25, 2024
Leases [Abstract]  
Components of Lease Cost Related to Operating Leases

The components of lease cost related to our operating leases were as follows (in millions):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

October 25,
 2024

 

 

October 27,
2023

 

 

October 25,
 2024

 

 

October 27,
2023

 

Operating lease cost

 

$

12

 

 

$

14

 

 

$

25

 

 

$

28

 

Variable lease cost

 

 

4

 

 

 

4

 

 

 

8

 

 

 

8

 

Total lease cost

 

$

16

 

 

$

18

 

 

$

33

 

 

$

36

 

Supplemental Cash Flow Information Related to Operating Leases

The supplemental cash flow information related to our operating leases is as follows (in millions):

 

 

 

 

 

Six Months Ended

 

 

 

 

 

 

 

October 25,
 2024

 

 

October 27,
2023

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

 

 

 

 

$

24

 

 

$

26

 

Right-of-use assets obtained in exchange for new operating lease obligations

 

 

 

 

 

$

6

 

 

$

13

 

Supplemental Balance Sheet Information Related to Operating Leases

The supplemental balance sheet information related to our operating leases is as follows (in millions, except lease term and discount rate):

 

 

 

 

 

 

 

October 25,
 2024

 

 

April 26,
 2024

 

Other non-current assets

 

 

 

 

 

$

242

 

 

$

247

 

Total operating lease ROU assets

 

 

 

 

 

$

242

 

 

$

247

 

 

 

 

 

 

 

 

 

 

 

 

Accrued expenses

 

 

 

 

 

$

41

 

 

$

40

 

Other long-term liabilities

 

 

 

 

 

 

216

 

 

 

220

 

Total operating lease liabilities

 

 

 

 

 

$

257

 

 

$

260

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

 

8.7 years

 

 

9.2 years

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

 

 

3.3

%

 

 

3.1

%

Future Minimum Operating Lease Payments

Future minimum operating lease payments as of October 25, 2024, are as follows (in millions):

 

Fiscal Year

 

 

 

 

 

Amount

 

2025 (remainder)

 

 

 

 

 

$

24

 

2026

 

 

 

 

 

 

45

 

2027

 

 

 

 

 

 

39

 

2028

 

 

 

 

 

 

32

 

2029

 

 

 

 

 

 

28

 

Thereafter

 

 

 

 

 

 

128

 

Total lease payments

 

 

 

 

 

 

296

 

Less: Interest

 

 

 

 

 

 

(39

)

Total

 

 

 

 

 

$

257