Segment, Geographic, and Significant Customer Information

6 Months Ended

Oct. 25, 2013

Segment, Geographic, and Significant Customer Information

14.  Segment, Geographic, and Significant Customer Information

We operate in one industry segment: the design, manufacturing, marketing, and technical support of high-performance networked storage solutions. We conduct business globally, and our sales and support activities are managed on a geographic basis. Our management reviews financial information presented on a consolidated basis, accompanied by disaggregated information it receives from its internal management system about revenues by geographic region, based on the location from which the customer relationship is managed, for purposes of allocating resources and evaluating financial performance. We do not allocate costs of revenues, research and development, sales and marketing, or general and administrative expenses to our geographic regions using this internal management system because management does not review operations or operating results, or make planning decisions, below the consolidated entity level.

Summarized revenues by geographic region based on information from our internal management system and utilized by our Chief Executive Officer, who is considered our Chief Operating Decision Maker, is as follows (in millions):

	Three Months Ended				Six Months Ended
	October 25, 2013		October 26, 2012		October 25, 2013		October 26, 2012
Americas (United States, Canada and Latin America)	$	899.2	$	897.3	$	1,757.7	$	1,698.4
Europe, Middle East and Africa		445.0		437.7		893.0		877.0
Asia Pacific		205.7		206.2		415.4		410.4
Net revenues	$	1,549.9	$	1,541.2	$	3,066.1	$	2,985.8

Americas revenues consist of Americas commercial and U.S. public sector revenues. Sales to customers inside the United States comprised $800.7 million and $797.6 million of Americas net revenues during the three months ended October 25, 2013 and October 26, 2012, respectively, and $1,573.5 million and $1,509.0 million of Americas net revenues during the six months ended October 25, 2013 and October 26, 2012, respectively. No single foreign country accounted for 10% or more of our net revenues for any period presented.

The majority of our assets, excluding cash, cash equivalents, restricted cash, investments and accounts receivable, were attributable to our domestic operations. The following table presents cash, cash equivalents, restricted cash and investments held in the United States and internationally in various foreign subsidiaries (in millions):

	October 25, 2013		April 26, 2013
United States	$	1,414.1	$	3,419.3
International		3,908.2		3,586.8
Total	$	5,322.3	$	7,006.1

With the exception of property and equipment, we do not identify or allocate our long-lived assets by geographic area. The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):

	October 25, 2013		April 26, 2013
United States	$	1,053.1	$	1,076.3
International		89.8		94.6
Total	$	1,142.9	$	1,170.9

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

	Three Months Ended						Six Months Ended
	October 25, 2013			October 26, 2012			October 25, 2013			October 26, 2012
Arrow Electronics, Inc.(1)		23	%		21	%		22	%		19	%
Avnet, Inc.(1)		16	%		15	%		16	%		15	%

⁽¹⁾  Net revenues for Arrow Electronics, Inc. for the three and six months ended October 26, 2012 have been corrected from 20% and 18%, respectively, previously disclosed to 21% and 19%, respectively. Net revenues for Avnet, Inc. for the six months ended October 26, 2012 have been corrected from 14% previously disclosed to 15%.

The following customers accounted for 10% or more of net accounts receivable:

	October 25, 2013			April 26, 2013
Arrow Electronics, Inc.		15	%		16	%
Avnet, Inc.		10	%		14	%