Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Jan. 26, 2024

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 as of January 26, 2024 and April 28, 2023 (in millions):

	January 26,  2024		April 28,   2023
U.S. Treasury and government debt securities		1,097		754
Money market funds		728		794
Certificates of deposit		42		59
Mutual funds		38		36
Total debt and equity securities	$	1,905	$	1,643

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 26, 2024
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash and cash equivalents:
Cash	$	1,050		$	1,050	$	—
Money market funds		728			728		—
Certificates of deposit		42			—		42
Total cash and cash equivalents		1,820			1,778		42
Short-term investments:
U.S. Treasury and government debt securities		1,097			1,097		—
Total short-term investments		1,097			1,097		—
Total cash, cash equivalents and short-term investments	$	2,917		$	2,875	$	42
Other items:
Mutual funds (1)	$	6		$	6	$	—
Mutual funds (2)	$	32		$	32	$	—
Foreign currency exchange contracts assets (1)	$	1		$	—	$	1
Foreign currency exchange contracts liabilities (3)	$	(12	)	$	—	$	(12	)

	April 28, 2023
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash and cash equivalents:
Cash	$	1,463		$	1,463	$	—
Money market funds		794			794		—
Certificates of deposit		59			—		59
Total cash and cash equivalents		2,316			2,257		59
Short-term investments:
U.S. Treasury and government debt securities		754			754		—
Total short-term investments		754			754		—
Total cash, cash equivalents and short-term investments	$	3,070		$	3,011	$	59
Other items:
Mutual funds (1)	$	7		$	7	$	—
Mutual funds (2)	$	29		$	29	$	—
Foreign currency exchange contracts assets (1)	$	13		$	—	$	13
Foreign currency exchange contracts liabilities (3)	$	(4	)	$	—	$	(4	)

(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