Revenue (Tables)

12 Months Ended

Apr. 26, 2019

Disaggregation Of Revenue [Line Items]

Summary of Disaggregation of Revenue

The following table depicts the disaggregation of revenue by our products and services (in millions):

	Year Ended
	April 26, 2019		April 27, 2018		April 28, 2017
Product revenues	$	3,755	$	3,525	$	3,060
Strategic		2,709		2,468		2,000
Mature		1,046		1,057		1,060
Software maintenance revenues		946	902		905
Hardware maintenance and other services revenues		1,445		1,492		1,526
Hardware maintenance support contracts		1,182		1,214		1,258
Professional and other services		263		278		268
Net revenues	$	6,146	$	5,919	$	5,491

Deferred Revenue and Financed Unearned Services Revenue

The following table summarizes the components of our deferred revenue and financed unearned services balance as reported in our consolidated balance sheets (in millions):

	April 26, 2019		April 27, 2018
Deferred product revenue	$	84	$	107
Deferred services revenue		3,502		3,134
Financed unearned services revenue		82		122
Total	$	3,668	$	3,363
Reported as:
Short-term	$	1,825	$	1,712
Long-term		1,843		1,651
Total	$	3,668	$	3,363

The following tables summarize the activity related to deferred revenue and financed unearned services revenue (in millions):

	Year Ended
	April 26, 2019			April 27, 2018
Balance at beginning of period	$	3,363		$	3,213
Additions		2,763			2,566
Revenue recognized during the period		(2,458	)		(2,416	)
Balance at end of period	$	3,668		$	3,363

Summary of Activity Related to Deferred Commissions and their Balances in Consolidated Balance Sheets

The following tables summarize the activity related to deferred commissions 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	$	137		$	113
Additions		112			92
Expense recognized during the period		(77	)		(68	)
Balance at end of period	$	172		$	137

	April 26, 2019		April 27, 2018
Other current assets	$	75	$	66
Other non-current assets		97		71
Total deferred commissions	$	172	$	137

ASC 606

Disaggregation Of Revenue [Line Items]

Schedule of Impacts of Adoption of ASC 606 on Consolidated Balance Sheet and Statements of Operations

The following table presents the impacts of adoption of ASC 606 to select line items of our consolidated balance sheet as of the end of fiscal 2018:

	As of April 27, 2018
	As Previously Reported			Impact of ASC 606 Adoption					As Adjusted
ASSETS
Accounts receivable	$	1,009		$	38		(1	)	$	1,047
Inventories	$	126		$	(4	)			$	122
Other current assets	$	330		$	62		(2	)	$	392
Other non-current assets	$	420		$	30		(2	)	$	450
LIABILITIES AND STOCKHOLDERS' EQUITY
Short-term deferred revenue and financed unearned services revenue	$	1,804		$	(92	)	(3	)	$	1,712
Other long-term liabilities	$	961		$	31		(4	)	$	992
Long-term deferred revenue and financed unearned services revenue	$	1,673		$	(22	)	(3	)	$	1,651
Accumulated deficit	$	(218	)	$	209		(5	)	$	(9	)

(1) Netting of accounts receivable and deferred revenue balances for certain customer arrangements has been updated to reflect the impact of adoption

(2) Reflects capitalization of commissions and reduction of long-term deferred tax assets

(3) Reflects cumulative change in revenue and the impact of adoption to the netting of accounts receivable and deferred revenue balances for certain customer arrangements

(4) Reflects increase in long-term deferred tax liabilities

(5) Reflects cumulative impact to net income of which $197 million was the cumulative-effect of adoption as of the beginning of fiscal 2017

The following tables present the impacts of adoption of ASC 606 to our consolidated statements of operations for the fiscal 2018 and 2017:

	Year Ended
	April 27, 2018
	As Previously Reported			Impact of ASC 606 Adoption			As Adjusted
Revenues:
Product	$	3,461		$	64		$	3,525
Software maintenance		958			(56	)		902
Hardware maintenance and other services		1,492			—			1,492
Net revenues		5,911			8			5,919
Cost of revenues:
Cost of product		1,738			—			1,738
Cost of software maintenance		25			—			25
Cost of hardware maintenance and other services		449			(2	)		447
Total cost of revenues		2,212			(2	)		2,210
Gross profit		3,699			10			3,709
Operating expenses:
Sales and marketing		1,729			(23	)		1,706
Research and development		783			—			783
General and administrative		280			—			280
Gain on sale or derecognition of assets		(218	)		—			(218	)
Total operating expenses		2,574			(23	)		2,551
Income from operations		1,125			33			1,158
Other income, net		41			—			41
Income before income taxes		1,166			33			1,199
Provision for income taxes		1,090			(7	)		1,083
Net income	$	76		$	40		$	116
Net income per share:
Basic	$	0.28		$	0.15		$	0.43
Diluted	$	0.28		$	0.14		$	0.42
Shares used in net income per share calculations:
Basic		268			268			268
Diluted		276			276			276

	Year Ended
	April 28, 2017
	As Previously Reported			Impact of ASC 606 Adoption			As Adjusted
Revenues:
Product	$	3,006		$	54		$	3,060
Software maintenance		965			(60	)		905
Hardware maintenance and other services		1,548			(22	)		1,526
Net revenues		5,519			(28	)		5,491
Cost of revenues:
Cost of product		1,614			(2	)		1,612
Cost of software maintenance		28			—			28
Cost of hardware maintenance and other services		487			—			487
Total cost of revenues		2,129			(2	)		2,127
Gross profit		3,390			(26	)		3,364
Operating expenses:
Sales and marketing		1,633			18			1,651
Research and development		779			—			779
General and administrative		271			—			271
Restructuring charges		52			—			52
Gain on sale of properties		(10	)		—			(10	)
Total operating expenses		2,725			18			2,743
Income from operations		665			(44	)		621
Other income (expense), net		—			—			—
Income before income taxes		665			(44	)		621
Provision for income taxes		156			(16	)		140
Net income	$	509		$	(28	)	$	481
Net income per share:
Basic	$	1.85		$	(0.10	)	$	1.75
Diluted	$	1.81		$	(0.10	)	$	1.71
Shares used in net income per share calculations:
Basic		275			275			275
Diluted		281			281			281