v3.26.1
Composition of Certain Financial Statement Items
 12 Months Ended
Apr. 24, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Composition of Certain Financial Statement Items Composition of Certain Financial Statement Items
Inventories
Inventories consisted of the following at April 24, 2026 and April 25, 2025:
(in millions)April 24, 2026April 25, 2025
Raw materials$128 
 
$87 
Work in process34 38 
Finished goods179 185 
Total$341 $311 
Property, Plant and Equipment
The following are the components of property, plant and equipment:
(in millions)April 24, 2026April 25, 2025
Computer software$532 $447 
Equipment480 395 
Land and land improvements7 7 
Building and leasehold improvements232 233 
Construction in progress241 286 
Property, plant and equipment, at cost1,492 1,369 
Less: Accumulated Depreciation(781)(663)
Property, plant and equipment, net (1)
$711 $706 

(1) Property, plant and equipment, net in the United States was $673 million and $662 million as of April 24, 2026 and April 25, 2025, respectively.
Depreciation expense of $130 million, $114 million, and $96 million was recognized in fiscal years 2026, 2025 and 2024, respectively.
Goodwill
As of April 24, 2026 and April 25, 2025, the carrying amount of goodwill was $2.3 billion in each period. The Company did not engage in any business combinations or other transactions that would affect the carrying amount of goodwill. The Company did not recognize any goodwill impairment charges during the fiscal years ended April 24, 2026, April 25, 2025, and April 26, 2024.
Intangible Assets
The following table presents the gross carrying amount and accumulated amortization of intangible assets:
(in millions)April 24, 2026April 25, 2025
Intangible AssetsGross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Purchased technology and patents$245 $(147)$246 $(125)
Customer-related70 (63)68 (60)
Trademarks, tradenames and other5 (3)5 (3)
Total$321 $(214)$320 $(188)
The Company did not recognize any definite-lived intangible asset impairment charges during the fiscal years ended April 24, 2026, April 25, 2025, and April 26, 2024.
Amortization Expense
The following table presents the intangible asset amortization expense classification for the fiscal years ended April 24, 2026, April 25, 2025, and April 26, 2024:
Fiscal Year
(in millions)202620252024
Cost of products sold$23 $24 $24 
Selling, general, and administrative expense3 5 9 
Total amortization expense$26 $29 $33 
Estimated aggregate amortization expense by fiscal year based on the current carrying value and remaining estimated useful lives of definite-lived intangible assets at April 24, 2026 are as follows:
(in millions)Amortization Expense
202726 
202825 
202922 
203019 
20319 
Other Accrued Expenses
Other accrued expenses included in the consolidated balance sheets were as follows:
(in millions)April 24, 2026April 25, 2025
Contract termination accrual$24 $— 
Accrued income taxes38 — 
Accrued litigation charges
24 165 
Accrued warranties17 15 
Deferred income15 11 
Ancillary services cost accrual— 11 
Operating lease obligations8 11 
Right of return6 5 
Other accrued expenses(1)
61 53 
Total$194 $271 
(1) Other accrued expenses includes general accrued expenses as well as accruals related to restructuring, product remediation, clinical trials, and consultant fees.
Product Warranties
The following table provides a reconciliation of the changes in product warranty liabilities for the fiscal years ended April 24, 2026, April 25, 2025, and April 26, 2024:
Fiscal Year
(in millions)202620252024
Balance at the beginning of the period$57 $65 $62 
Provisions for warranties issued during the period46 37 22 
Settlements made during the period(46)(41)(26)
Adjustment of prior estimates6 (3)6 
Balance at end of the period$63 $57 $65 
As of April 24, 2026 and April 25, 2025, total product warranty reserves were included in the following consolidated balance sheet accounts:
(in millions)April 24, 2026April 25, 2025
Other accrued expenses$17 $15 
Other liabilities47 42 
Total warranty reserves$63 $57