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Balance Sheet Details
3 Months Ended
Jul. 28, 2017
Statement Of Financial Position [Abstract]  
Balance Sheet Details

6. Balance Sheet Details

Cash and cash equivalents (in millions):

 

 

 

July 28,

2017

 

 

April 28,

2017

 

Cash

 

$

2,630

 

 

$

2,275

 

Cash equivalents

 

 

321

 

 

 

169

 

Cash and cash equivalents

 

$

2,951

 

 

$

2,444

 

 

Inventories (in millions):

 

 

 

July 28,

2017

 

 

April 28,

2017

 

Purchased components

 

$

59

 

 

$

28

 

Finished goods

 

 

84

 

 

 

135

 

Inventories

 

$

143

 

 

$

163

 

 

Property and equipment, net (in millions):

 

 

 

July 28,

2017

 

 

April 28,

2017

 

Land

 

$

132

 

 

$

132

 

Buildings and improvements

 

 

643

 

 

 

612

 

Leasehold improvements

 

 

95

 

 

 

93

 

Computer, production, engineering and other equipment

 

 

751

 

 

 

741

 

Computer software

 

 

352

 

 

 

353

 

Furniture and fixtures

 

 

94

 

 

 

90

 

Construction-in-progress

 

 

2

 

 

 

26

 

 

 

 

2,069

 

 

 

2,047

 

Accumulated depreciation and amortization

 

 

(1,270

)

 

 

(1,248

)

Property and equipment, net

 

$

799

 

 

$

799

 

 

We have classified certain land and buildings previously reported as property and equipment as assets held-for-sale. The book value of these assets is $118 million and is included in other current assets in the condensed consolidated balance sheets.

 

Other non-current assets (in millions):

 

 

 

July 28,

2017

 

 

April 28,

2017

 

Deferred tax assets

 

$

523

 

 

$

525

 

Other assets

 

 

154

 

 

 

156

 

Other non-current assets

 

$

677

 

 

$

681

 

 

Accrued expenses (in millions):

 

 

 

July 28,

2017

 

 

April 28,

2017

 

Accrued compensation and benefits

 

$

240

 

 

$

340

 

Sale-leaseback financing obligations

 

 

130

 

 

 

130

 

Product warranty liabilities

 

 

29

 

 

 

33

 

Other current liabilities

 

 

254

 

 

 

279

 

Accrued expenses

 

$

653

 

 

$

782

 

 

Product warranty liabilities:

Equipment and software systems sales include a standard product warranty. The following tables summarize the activity related to product warranty liabilities and their balances as reported in our condensed consolidated balance sheets (in millions):

 

 

 

Three Months Ended

 

 

 

July 28,

2017

 

 

July 29,

2016

 

Balance at beginning of period

 

$

50

 

 

$

70

 

Expense accrued during the period

 

 

1

 

 

 

4

 

Warranty costs incurred

 

 

(7

)

 

 

(13

)

Balance at end of period

 

$

44

 

 

$

61

 

 

 

 

July 28,

2017

 

 

April 28,

2017

 

Accrued expenses

 

$

29

 

 

$

33

 

Other long-term liabilities

 

 

15

 

 

 

17

 

Total warranty liabilities

 

$

44

 

 

$

50

 

 

Warranty expense accrued during the period includes amounts accrued for systems at the time of shipment, adjustments for changes in estimated costs for warranties on systems shipped in the period and changes in estimated costs for warranties on systems shipped in prior periods.

 

Deferred revenue and financed unearned services revenue (in millions):

 

 

 

July 28,

2017

 

 

April 28,

2017

 

Deferred product revenue

 

$

123

 

 

$

124

 

Deferred services revenue

 

 

2,942

 

 

 

2,999

 

Financed unearned services revenue

 

 

186

 

 

 

219

 

Total

 

$

3,251

 

 

$

3,342

 

 

 

 

 

 

 

 

 

 

Reported as:

 

 

 

 

 

 

 

 

Short-term

 

$

1,702

 

 

$

1,744

 

Long-term

 

 

1,549

 

 

 

1,598

 

Total

 

$

3,251

 

 

$

3,342

 

 

Deferred product revenue represents unrecognized revenue related to undelivered product commitments and other product deliveries that have not met all revenue recognition criteria. Deferred services revenue represents customer payments made in advance for services, which include software and hardware maintenance contracts and other services. Financed unearned services revenue represents undelivered services for which cash has been received under certain third-party financing arrangements. See Note 16 for additional information related to these arrangements.