Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Apr. 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 April 26, 2024 and April 28, 2023 (in millions):

	April 26, 2024		April 28, 2023
U.S. Treasury and government debt securities	$	1,349	$	754
Money market funds		1,161		794
Certificates of deposit		12		59
Mutual funds		38		36
Total debt and equity securities	$	2,560	$	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):

	April 26, 2024
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash and cash equivalents:
Cash	$	730		$	730	$	—
Money market funds		1,161			1,161		—
Certificates of deposit		12			—		12
Total cash and cash equivalents		1,903			1,891		12
Short-term investments:
U.S. Treasury and government debt securities		1,349			1,349		—
Total short-term investments		1,349			1,349		—
Total cash, cash equivalents and short-term investments	$	3,252		$	3,240	$	12
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)	$	(13	)	$	—	$	(13	)

	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 consolidated balance sheets

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

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