Segment, Geographic, and Significant Customer Information

6 Months Ended

Oct. 24, 2014

Segment, Geographic, and Significant Customer Information

13.  Segment, Geographic, and Significant Customer Information

We operate in one industry segment: the design, manufacturing, marketing, and technical support of high-performance data management and 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 in this internal management reporting 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 24, 2014		October 25, 2013		October 24, 2014		October 25, 2013
Americas (United States, Canada and Latin America)	$	906.1	$	899.2	$	1,737.3	$	1,757.7
Europe, Middle East and Africa		437.6		445.0		882.5		893.0
Asia Pacific		198.8		205.7		411.9		415.4
Net revenues	$	1,542.5	$	1,549.9	$	3,031.7	$	3,066.1

Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the United States were $816.4 million and $800.7 million during the three months ended October 24, 2014 and October 25, 2013, respectively, and were $1,562.6 million and $1,573.5 million during the six months ended October 24, 2014 and October 25, 2013, 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 24, 2014		April 25, 2014
United States	$	850.8	$	688.5
International		4,457.8		4,360.9
Total	$	5,308.6	$	5,049.4

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 24, 2014		April 25, 2014
United States	$	987.0	$	1,021.4
International		94.7		87.4
Total	$	1,081.7	$	1,108.8

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 24, 2014			October 25, 2013			October 24, 2014			October 25, 2013
Arrow Electronics, Inc.		24	%		23	%		23	%		22	%
Avnet, Inc.		17	%		16	%		17	%		16	%

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

	October 24, 2014			April 25, 2014
Arrow Electronics, Inc.		12	%		14	%
Avnet, Inc.		15	%		16	%