Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Jan. 28, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Investments at Cost or Amortized Cost

The following is a summary of our investments at their cost or amortized cost for the periods ended January 28, 2022 and April 30, 2021 (in millions):

	January 28, 2022		April 30, 2021
Corporate bonds	$	24	$	58
U.S. Treasury and government debt securities		7		8
Certificates of deposit		59		61
Mutual funds		39		40
Total debt and equity securities	$	129	$	167

Contractual Maturities of Debt Investments

The following table presents the contractual maturities of our debt investments as of January 28, 2022 (in millions):

	Amount
Due in one year or less	$	90
Due after one year through five years		—
	$	90

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis (in millions):

	January 28, 2022
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	4,111		$	4,111	$	—
Corporate bonds		24			—		24
U.S. Treasury and government debt securities		7			3		4
Certificates of deposit		59			—		59
Total cash, cash equivalents and short-term investments	$	4,201		$	4,114	$	87
Other items:
Mutual funds (1)	$	7		$	7	$	—
Mutual funds (2)	$	32		$	32	$	—
Foreign currency exchange contracts assets (1)	$	3		$	—	$	3
Foreign currency exchange contracts liabilities (3)	$	(7	)	$	—	$	(7	)

	April 30, 2021
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	4,468		$	4,468	$	—
Corporate bonds		59			—		59
U.S. Treasury and government debt securities		8			4		4
Certificates of deposit		61			—		61
Total cash, cash equivalents and short-term investments	$	4,596		$	4,472	$	124
Other items:
Mutual funds (1)	$	8		$	8	$	—
Mutual funds (2)	$	32		$	32	$	—
Foreign currency exchange contracts assets (1)	$	9		$	—	$	9
Foreign currency exchange contracts liabilities (3)	$	(1	)	$	—	$	(1	)

(1)Reported as other current assets in the condensed consolidated balance sheets

(2)Reported as other non-current assets in the condensed consolidated balance sheets

(3)Reported as accrued expenses in the condensed consolidated balance sheets