Segment, Geographic, and Significant Customer Information (Tables)

9 Months Ended

Jan. 26, 2024

Segment Reporting [Abstract]

Schedule of Financial Information by Segment

Financial information by segment is as follows (in millions, except percentages):

	Three Months Ended January 26, 2024
	Hybrid Cloud			Public Cloud			Consolidated
Product revenues	$	747		$	—		$	747
Support revenues		631			—			631
Professional and other services revenues		77			—			77
Public cloud revenues		—			151			151
Net revenues		1,455			151			1,606
Cost of product revenues		280			—			280
Cost of support revenues		49			—			49
Cost of professional and other services revenues		58			—			58
Cost of public cloud revenues		—			52			52
Segment cost of revenues		387			52			439
Segment gross profit	$	1,068		$	99		$	1,167
Segment gross margin		73.4	%		65.6	%		72.7	%
Unallocated cost of revenues1								16
Total gross profit							$	1,151
Total gross margin								71.7	%
1 Unallocated cost of revenues are composed of $7 million of stock-based compensation expense and $9 million of amortization of intangible assets.

	Three Months Ended January 27, 2023
	Hybrid Cloud			Public Cloud			Consolidated
Product revenues	$	682		$	—		$	682
Support revenues		616			—			616
Professional and other services revenues		78			—			78
Public cloud revenues		—			150			150
Net revenues		1,376			150			1,526
Cost of product revenues		365			—			365
Cost of support revenues		44			—			44
Cost of professional and other services revenues		50			—			50
Cost of public cloud revenues		—			47			47
Segment cost of revenues		459			47			506
Segment gross profit	$	917		$	103		$	1,020
Segment gross margin		66.6	%		68.7	%		66.8	%
Unallocated cost of revenues1								19
Total gross profit							$	1,001
Total gross margin								65.6	%
1 Unallocated cost of revenues are composed of $8 million of stock-based compensation expense and $11 million of amortization of intangible assets.

	Nine Months Ended January 26, 2024
	Hybrid Cloud			Public Cloud			Consolidated
Product revenues	$	2,043		$	—		$	2,043
Support revenues		1,865			—			1,865
Professional and other services revenues		233			—			233
Public cloud revenues		—			459			459
Net revenues		4,141			459			4,600
Cost of product revenues		819			—			819
Cost of support revenues		146			—			146
Cost of professional and other services revenues		176			—			176
Cost of public cloud revenues		—			155			155
Segment cost of revenues		1,141			155			1,296
Segment gross profit	$	3,000		$	304		$	3,304
Segment gross margin		72.4	%		66.2	%		71.8	%
Unallocated cost of revenues1								47
Total gross profit							$	3,257
Total gross margin								70.8	%
1 Unallocated cost of revenues are composed of $21 million of stock-based compensation expense and $26 million of amortization of intangible assets.

	Nine Months Ended January 27, 2023
	Hybrid Cloud			Public Cloud			Consolidated
Product revenues	$	2,305		$	—		$	2,305
Support revenues		1,821			—			1,821
Professional and other services revenues		231			—			231
Public cloud revenues		—			424			424
Net revenues		4,357			424			4,781
Cost of product revenues		1,177			—			1,177
Cost of support revenues		132			—			132
Cost of professional and other services revenues		156			—			156
Cost of public cloud revenues		—			132			132
Segment cost of revenues		1,465			132			1,597
Segment gross profit	$	2,892		$	292		$	3,184
Segment gross margin		66.4	%		68.9	%		66.6	%
Unallocated cost of revenues1								50
Total gross profit							$	3,134
Total gross margin								65.6	%
1 Unallocated cost of revenues are composed of $18 million of stock-based compensation expense and $32 million of amortization of intangible assets.

Schedule of Revenues by Geographic Region

Revenues summarized by geographic region are as follows (in millions):

	Three Months Ended				Nine Months Ended
	January 26,  2024		January 27, 2023		January 26,  2024		January 27, 2023
United States, Canada and Latin America (Americas)	$	802	$	781	$	2,345	$	2,453
Europe, Middle East and Africa (EMEA)		567		510		1,538		1,584
Asia Pacific (APAC)		237		235		717		744
Net revenues	$	1,606	$	1,526	$	4,600	$	4,781

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.

Schedule of Cash, Cash Equivalents and Short-Term Investments

The following table presents cash, cash equivalents and short-term investments held in the U.S. and internationally in various foreign subsidiaries (in millions):

	January 26,  2024		April 28,   2023
U.S.	$	574	$	887
International		2,343		2,183
Total	$	2,917	$	3,070

Schedule of Property and Equipment, Net by Geographic Areas

The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):

	January 26,  2024		April 28,   2023
U.S.	$	376	$	413
International		231		237
Total	$	607	$	650

Schedule of Revenues from Significant Customers

he following customers, each of which is a distributor, accounted for 10% or more of our net revenues:

	Three Months Ended						Nine Months Ended
	January 26,  2024			January 27, 2023			January 26,  2024			January 27, 2023
Arrow Electronics, Inc.		21	%		24	%		22	%		24	%
TD Synnex Corporation (previously presented as Tech Data Corporation)		21	%		21	%		21	%		20	%

Schedule of Net Accounts Receivable from Significant Customers

The following customers accounted for 10% or more of accounts receivable as of at least one of the dates presented:

	January 26,  2024			April 28,   2023
Arrow Electronics, Inc.		5	%		15	%
TD Synnex Corporation (previously presented as Tech Data Corporation)		16	%		19	%