The following table presents cash and cash equivalents as reported in our consolidated balance sheets, as well as the sum of cash, cash equivalents and restricted cash as reported on our consolidated statement of cash flows in accordance with our adoption of the ASU discussed in Note 1 – Description of Business and Significant Accounting Policies.

	April 26, 2019		April 27, 2018
Cash	$	2,216	$	2,727
Cash equivalents		109		214
Cash and cash equivalents	$	2,325	$	2,941
Short-term restricted cash		5		5
Long-term restricted cash		1		1
Restricted cash	$	6	$	6
Cash, cash equivalents and restricted cash	$	2,331	$	2,947

	April 26, 2019		April 27, 2018
Purchased components	$	8	$	12
Finished goods		123		110
Inventories	$	131	$	122

	April 26, 2019			April 27, 2018
Land	$	106		$	106
Buildings and improvements		605			594
Leasehold improvements		86			88
Computer, production, engineering and other equipment		817			733
Computer software		357			357
Furniture and fixtures		105			99
Construction-in-progress		10			27
		2,086			2,004
Accumulated depreciation and amortization		(1,327	)		(1,248	)
Property and equipment, net	$	759		$	756

In September 2017, we entered into an agreement to sell certain land and buildings located in Sunnyvale, California, with a book value of $118 million, for a total of $306 million, through two separate and independent closings. Upon the completion of the first closing in fiscal 2018, we consummated the sale of properties with a net book value of $66 million for cash proceeds of $210 million, resulting in a gain, net of direct selling costs, of $142 million. The remaining properties, consisting of land with a net book value of $52 million, were classified as assets held-for-sale, and included as other current assets in our consolidated balance sheets as of April 26, 2019 and April 27, 2018. We will consummate the sale of these properties, and receive cash proceeds of $96 million, upon the completion of the second closing, which is expected to occur within the next 12 months. That closing is subject to due diligence, certain termination rights and customary closing conditions, including local governmental approval of the subdivision of a land parcel.

Depreciation and amortization expense related to property and equipment, net is summarized below (in millions):

Year Ended

April 26,

2019

April 27,

2018

April 28,

2017

Depreciation and amortization expense

150

145

178

	April 26, 2019		April 27, 2018
Deferred tax assets	$	201	$	229
Other assets		389		221
Other non-current assets	$	590	$	450

During fiscal 2019, we formed a joint venture with Lenovo (Beijing) Information Technology Ltd. (“Lenovo”) in China and, in February 2019, contributed assets to the newly formed entity, Lenovo NetApp Technology Limited (“LNTL”), in exchange for a non-controlling 49% equity interest. The group of assets we contributed and derecognized met the definition of a business and included cash, fixed assets, customer relationships and an allocation of goodwill, with an aggregate book value of $7 million. The fair value of our equity interest in LNTL was determined using discounted cash flow techniques to be $80 million, resulting in a non-cash gain of $73 million. We accounted for our ownership interest as an equity method investment and have presented it in Other non-current assets on our consolidated balance sheet as of April 26, 2019. LNTL will be integral to our sales channels strategy in China, acting as a distributor of our offerings to customers headquartered there, and involved in certain OEM sales to Lenovo. It will also endeavor to localize our products and services, and to develop new joint offerings for the China market by leveraging NetApp and Lenovo technologies.

	April 26, 2019		April 27, 2018
Accrued compensation and benefits	$	433	$	441
Product warranty liabilities		25		25
Other current liabilities		393		359
Accrued expenses	$	851	$	825

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 consolidated balance sheets (in millions):

	Year Ended
	April 26, 2019			April 27, 2018
Balance at beginning of period	$	40		$	50
Expense accrued during the period		22			16
Warranty costs incurred		(22	)		(26	)
Balance at end of period	$	40		$	40

	April 26, 2019		April 27, 2018
Accrued expenses	$	25	$	25
Other long-term liabilities		15		15
Total warranty liabilities	$	40	$	40

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.

	April 26, 2019		April 27, 2018
Liability for uncertain tax positions	$	252	$	314
Income taxes payable		447		549
Product warranty liabilities		15		15
Other liabilities		83		114
Other long-term liabilities	$	797	$	992

Non-cash investing and financing activities and supplemental cash flow information are as follows:

	Year Ended
	April 26, 2019		April 27, 2018		April 28, 2017
Non-cash Investing and Financing Activities:
Capital expenditures incurred but not paid	$	9	$	24	$	19
Non-cash extinguishment of sale-leaseback financing obligations	$	—	$	130	$	19
Supplemental Cash Flow Information:
Income taxes paid, net of refunds	$	205	$	87	$	102
Interest paid	$	53	$	58	$	44