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Leases (Tables)
6 Months Ended
Oct. 27, 2023
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 27,
 2023

 

 

October 28,
2022

 

 

October 27,
 2023

 

 

October 28,
2022

 

Operating lease cost

 

$

14

 

 

$

16

 

 

$

28

 

 

$

31

 

Variable lease cost

 

 

4

 

 

 

4

 

 

 

8

 

 

 

8

 

Total lease cost

 

$

18

 

 

$

20

 

 

$

36

 

 

$

39

 

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 27,
 2023

 

 

October 28,
2022

 

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

 

 

 

 

 

$

26

 

 

$

29

 

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

 

 

 

 

 

$

13

 

 

$

31

 

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 27,
 2023

 

 

April 28,
 2023

 

Other non-current assets

 

 

 

 

 

$

260

 

 

$

281

 

Total operating lease ROU assets

 

 

 

 

 

$

260

 

 

$

281

 

 

 

 

 

 

 

 

 

 

 

 

Accrued expenses

 

 

 

 

 

$

41

 

 

$

47

 

Other long-term liabilities

 

 

 

 

 

 

230

 

 

 

248

 

Total operating lease liabilities

 

 

 

 

 

$

271

 

 

$

295

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

 

9.5 years

 

 

9.4 years

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

 

 

 

 

3.0

%

 

 

3.0

%

Future Minimum Operating Lease Payments

Future minimum operating lease payments as of October 27, 2023, are as follows (in millions):

 

Fiscal Year

 

 

 

 

 

Amount

 

2024 (remainder)

 

 

 

 

 

$

24

 

2025

 

 

 

 

 

 

42

 

2026

 

 

 

 

 

 

36

 

2027

 

 

 

 

 

 

32

 

2028

 

 

 

 

 

 

29

 

Thereafter

 

 

 

 

 

 

153

 

Total lease payments

 

 

 

 

 

 

316

 

Less: Interest

 

 

 

 

 

 

(45

)

Total

 

 

 

 

 

$

271