v3.26.1
Financial Instruments and Fair Value Measurements (Tables)
 12 Months Ended
Apr. 24, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of Investments at Cost or Amortized Cost

The following is a summary of our investments at their cost or amortized cost as of April 24, 2026 and April 25, 2025 (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

U.S. Treasury and government debt securities

 

$

2,112

 

 

$

2,025

 

Money market funds

 

 

808

 

 

 

1,126

 

Certificates of deposit

 

 

86

 

 

 

24

 

Mutual funds

 

 

49

 

 

 

41

 

Total debt and equity securities

 

$

3,055

 

 

$

3,216

 
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):

 

 

April 24, 2026

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Cash

 

$

578

 

 

$

578

 

 

$

—

 

Money market funds

 

 

808

 

 

 

808

 

 

 

—

 

Certificates of deposit

 

 

86

 

 

 

—

 

 

 

86

 

U.S. Treasury and government debt securities

 

 

598

 

 

 

598

 

 

 

—

 

Total cash and cash equivalents

 

 

2,070

 

 

 

1,984

 

 

 

86

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury and government debt securities

 

 

1,514

 

 

 

1,514

 

 

 

—

 

Total short-term investments

 

 

1,514

 

 

 

1,514

 

 

 

—

 

Total cash, cash equivalents and short-term investments

 

$

3,584

 

 

$

3,498

 

 

$

86

 

Other items:

 

 

 

 

 

 

 

 

 

Mutual funds (1)

 

$

9

 

 

$

9

 

 

$

—

 

Mutual funds (2)

 

$

40

 

 

$

40

 

 

$

—

 

Foreign currency exchange contracts assets (1)

 

$

10

 

 

$

—

 

 

$

10

 

Foreign currency exchange contracts liabilities (3)

 

$

(1

)

 

$

—

 

 

$

(1

)

 

 

 

 

April 25, 2025

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Cash

 

$

671

 

 

$

671

 

 

$

—

 

Money market funds

 

 

1,126

 

 

 

1,126

 

 

 

—

 

Certificates of deposit

 

 

24

 

 

 

—

 

 

 

24

 

U.S. Treasury and government debt securities

 

 

921

 

 

 

921

 

 

 

—

 

Total cash and cash equivalents

 

 

2,742

 

 

 

2,718

 

 

 

24

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury and government debt securities

 

 

1,104

 

 

 

1,104

 

 

 

—

 

Total short-term investments

 

 

1,104

 

 

 

1,104

 

 

 

—

 

Total cash, cash equivalents and short-term investments

 

$

3,846

 

 

$

3,822

 

 

$

24

 

Other items:

 

 

 

 

 

 

 

 

 

Mutual funds (1)

 

$

7

 

 

$

7

 

 

$

—

 

Mutual funds (2)

 

$

34

 

 

$

34

 

 

$

—

 

Foreign currency exchange contracts assets (1)

 

$

29

 

 

$

—

 

 

$

29

 

Foreign currency exchange contracts liabilities (3)

 

$

(2

)

 

$

—

 

 

$

(2

)

(1)
Reported as other current assets in the consolidated balance sheets
(2)
Reported as other non-current assets in the consolidated balance sheets
(3)
Reported as accrued expenses in the consolidated balance sheets