Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Oct. 30, 2020

Investments Debt And Equity Securities [Abstract]

Summary of Investments

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

	October 30, 2020								April 24, 2020
	Cost or						Estimated		Cost or						Estimated
	Amortized		Gross Unrealized				Fair		Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
Corporate bonds	$	99	$	2	$	—	$	101	$	155	$	1	$	—	$	156
U.S. Treasury and government debt    securities		16		—		—		16		68		—		—		68
Certificates of deposit		106		—		—		106		158		—		—		158
Mutual funds		37		—		—		37		33		—		—		33
Total debt and equity securities	$	258	$	2	$	—	$	260	$	414	$	1	$	—	$	415

Contractual Maturities of Debt Investments

The following table presents the contractual maturities of our debt investments as of October 30, 2020 (in millions):

	Amortized Cost		Fair Value
Due in one year or less	$	172	$	173
Due after one year through five years		44		45
Due after five years through ten years		5		5
	$	221	$	223

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 30, 2020
				Fair Value Measurements at Reporting Date Using
	Total			Level 1		Level 2
Cash	$	3,423		$	3,423	$	—
Corporate bonds		101			—		101
U.S. Treasury and government debt securities		16			3		13
Certificates of deposit		106			—		106
Total cash, cash equivalents and short-term investments	$	3,646		$	3,426	$	220
Other items:
Mutual funds (1)	$	7		$	7	$	—
Mutual funds (2)	$	30		$	30	$	—
Foreign currency exchange contracts liabilities (3)	$	(1	)	$	—	$	(1	)

⁽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