Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Oct. 27, 2017

Investments Debt And Equity Securities [Abstract]

Summary of Investments

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

	October 27, 2017									April 28, 2017
	Cost or							Estimated		Cost or							Estimated
	Amortized		Gross Unrealized					Fair		Amortized		Gross Unrealized					Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses			Value
Corporate bonds	$	1,747	$	6	$	(3	)	$	1,750	$	1,535	$	3	$	(2	)	$	1,536
U.S. Treasury and government debt    securities		474		—		(2	)		472		629		1		(2	)		628
Foreign government debt securities		21		—		—			21		21		—		—			21
Commercial paper		504		—		—			504		362		—		—			362
Certificates of deposit		107		—		—			107		99		—		—			99
Mutual funds		34		—		—			34		31		—		—			31
Total debt and equity securities	$	2,887	$	6	$	(5	)	$	2,888	$	2,677	$	4	$	(4	)	$	2,677

Contractual Maturities of Debt Investments

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

	Amortized Cost		Fair Value
Due in one year or less	$	1,242	$	1,242
Due after one year through five years		1,187		1,186
Due after five years through ten years		419		421
Due after ten years		5		5
	$	2,853	$	2,854

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):

	October 27, 2017
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	3,111		$	3,111	$	—
Corporate bonds		1,750			—		1,750
U.S. Treasury and government debt securities		472			191		281
Foreign government debt securities		21			—		21
Commercial paper		504			—		504
Certificates of deposit		107			—		107
Total cash, cash equivalents and short-term investments	$	5,965		$	3,302	$	2,663
Other items:
Mutual funds(1)	$	7		$	7	$	—
Mutual funds(2)	$	27		$	27	$	—
Foreign currency exchange contracts assets(1)	$	8		$	—	$	8
Foreign currency exchange contracts liabilities(3)	$	(4	)	$	—	$	(4	)

⁽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