Income Taxes (Tables)

12 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Income Before Income Taxes

Income before income taxes is as follows (in millions):

	Year Ended
	April 30, 2021		April 24, 2020		April 26, 2019
Domestic	$	433	$	379	$	678
Foreign		529		565		590
Total	$	962	$	944	$	1,268

Provision for Income Taxes

The provision for income taxes consists of the following (in millions):

	Year Ended
	April 30, 2021			April 24, 2020			April 26, 2019
Current:
Federal	$	82		$	83		$	26
State		22			9			27
Foreign		134			50			49
Total current		238			142			102
Deferred:
Federal		6			(26	)		35
State		2			(6	)		(6	)
Foreign		(14	)		15			(32	)
Total deferred		(6	)		(17	)		(3	)
Provision for income taxes	$	232		$	125		$	99

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate as follows (in millions):

	Year Ended
	April 30, 2021			April 24, 2020			April 26, 2019
Tax computed at federal statutory rate	$	202		$	198		$	266
State income taxes, net of federal benefit		23			10			16
Foreign earnings in lower tax jurisdictions		(26	)		(40	)		(84	)
Stock-based compensation		6			(4	)		(19	)
Research and development credits		(13	)		(16	)		(17	)
Global minimum tax on intangible income		19			32			22
Transition tax and related reserves		1			15			(5	)
Tax charge from integration of acquired companies		35			—			—
Resolution of income tax matters (1)		(6	)		(61	)		(48	)
Non-taxable gain on joint venture formation		—			—			(14	)
Domestic production activities deduction		—			—			(13	)
Other		(9	)		(9	)		(5	)
Provision for income taxes	$	232		$	125		$	99

 (1) During fiscal 2021, we recognized a tax benefit related to the lapse of statutes of limitations for certain issues on our fiscal 2016 and 2017 federal income tax returns. During fiscal 2020, we recognized a tax benefit related to the lapse of statutes of limitations on our fiscal 2014 and 2015 federal income tax returns. During fiscal 2019, the Internal Revenue Service completed the examination of our fiscal 2012 to fiscal 2013 federal income tax returns, and we recognized a tax benefit attributable to the effective settlement and the release of related tax reserves.

Deferred Tax Assets and Liabilities

  The components of our deferred tax assets and liabilities are as follows (in millions):

	April 30, 2021			April 24, 2020
Deferred tax assets:
Reserves and accruals	$	65		$	72
Net operating loss and credit carryforwards		115			113
Stock-based compensation		18			15
Deferred revenue		226			242
Other		20			14
Gross deferred tax assets		444			456
Valuation allowance		(107	)		(104	)
Deferred tax assets, net of valuation allowance		337			352
Deferred tax liabilities:
Prepaids and accruals		51			49
Acquired intangibles		28			40
Property and equipment		31			33
Other		24			20
Total deferred tax liabilities		134			142
Deferred tax assets, net of valuation allowance and deferred tax liabilities	$	203		$	210

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	Year Ended
	April 30, 2021			April 24, 2020			April 26, 2019
Balance at beginning of period	$	211		$	296		$	348
Additions based on tax positions related to the current year		7			5			11
Additions for tax positions of prior years		11			1			26
Decreases for tax positions of prior years		—			(10	)		(35	)
Settlements		(8	)		(81	)		(54	)
Balance at end of period	$	221		$	211		$	296

Summary of Tax Years Remain Subject to Examinations under Major Tax Jurisdictions

The tax years that remain subject to examination for our major tax jurisdictions are shown below:

Fiscal Years Subject to Examination for Major Tax Jurisdictions at April 30, 2021

2016 — 2021	United States — federal income tax
2012 — 2021	United States — state and local income tax
2014 — 2021	Australia
2015 — 2021	Germany
2007 — 2021	India
2014 — 2021	Japan
2017 — 2021	The Netherlands
2016 — 2021	United Kingdom
2016 — 2021	Canada