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Financial Instruments and Fair Value Measurements (Tables)
9 Months Ended
Jan. 27, 2017
Investments Debt And Equity Securities [Abstract]  
Summary of Investments

The following is a summary of our investments (in millions):

 

 

 

January 27, 2017

 

 

April 29, 2016

 

 

 

Cost or

 

 

 

 

 

Estimated

 

 

Cost or

 

 

 

 

 

Estimated

 

 

 

Amortized

 

 

Gross Unrealized

 

 

Fair

 

 

Amortized

 

 

Gross Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

 

Cost

 

 

Gains

 

 

Losses

 

 

Value

 

Corporate bonds

 

$

1,411

 

 

$

2

 

 

$

(3

)

 

$

1,410

 

 

$

1,370

 

 

$

5

 

 

$

(1

)

 

$

1,374

 

U.S. Treasury and government debt

   securities

 

 

688

 

 

 

 

 

 

(3

)

 

 

685

 

 

 

878

 

 

 

2

 

 

 

 

 

 

880

 

Foreign government debt securities

 

 

27

 

 

 

 

 

 

 

 

 

27

 

 

 

35

 

 

 

 

 

 

 

 

 

35

 

Commercial paper

 

 

426

 

 

 

 

 

 

 

 

 

426

 

 

 

202

 

 

 

 

 

 

 

 

 

202

 

Certificates of deposit

 

 

102

 

 

 

 

 

 

 

 

 

102

 

 

 

98

 

 

 

 

 

 

 

 

 

98

 

Mutual funds

 

 

30

 

 

 

 

 

 

 

 

 

30

 

 

 

30

 

 

 

 

 

 

 

 

 

30

 

Total debt and equity securities

 

$

2,684

 

 

$

2

 

 

$

(6

)

 

$

2,680

 

 

$

2,613

 

 

$

7

 

 

$

(1

)

 

$

2,619

 

 

Contractual Maturities of Debt Investments

The following table presents the contractual maturities of our debt investments as of January 27, 2017 (in millions):

 

 

 

Amortized Cost

 

 

Fair Value

 

Due in one year or less

 

$

1,281

 

 

$

1,281

 

Due after one year through five years

 

 

1,363

 

 

 

1,359

 

Due after five years through ten years

 

 

5

 

 

 

5

 

Due after ten years

 

 

5

 

 

 

5

 

 

 

$

2,654

 

 

$

2,650

 

 

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 27, 2017

 

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

Cash

 

$

1,989

 

 

$

1,989

 

 

$

 

Corporate bonds

 

 

1,410

 

 

 

 

 

 

1,410

 

U.S. Treasury and government debt securities

 

 

685

 

 

 

270

 

 

 

415

 

Foreign government debt securities

 

 

27

 

 

 

 

 

 

27

 

Commercial paper

 

 

426

 

 

 

 

 

 

426

 

Certificates of deposit

 

 

102

 

 

 

 

 

 

102

 

Total cash, cash equivalents and short-term investments

 

$

4,639

 

 

$

2,259

 

 

$

2,380

 

Other items:

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds (1)

 

$

7

 

 

$

7

 

 

$

 

Mutual funds (2)

 

$

23

 

 

$

23

 

 

$

 

Foreign currency exchange contracts assets (1)

 

$

2

 

 

$

 

 

$

2

 

Foreign currency exchange contracts liabilities (3)

 

$

(2

)

 

$

 

 

$

(2

)

 

 

(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