v3.26.1
CONDENSED COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Operating Activities:      
Net loss $ (317) $ (198) $ (107)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 156 143 129
Provision for credit losses 28 21 22
Deferred income taxes (54) (2) 3
Stock-based compensation 46 41 38
Postretirement benefit plan expense 7 8 8
Asset impairments 84 0 0
Other, net 19 5 21
Change in operating assets and liabilities:      
Inventories (29) (19) 5
Blackstone funding arrangement 157 0 0
Other operating assets and liabilities 66 16 30
Net cash (used in) provided by operating activities (197) 140 41
Investing Activities:      
Additions to property, plant, and equipment (223) (193) (148)
Purchases of investments 0 0 (5)
Sales and maturities of investments 0 0 11
Other investing activities, net (10) 0 (14)
Net cash used in investing activities (233) (193) (157)
Financing Activities:      
Issuance of common stock from IPO 538 0 0
Net transfers (to) from Parent 407 12 112
Distribution to Parent in connection with IPO (229) 0 0
Other financing activities, net 0 (2) 0
Net cash provided by financing activities 716 10 112
Effect of exchange rate changes on cash and cash equivalents 1 0 0
Net change in cash and cash equivalents 287 (43) (4)
Cash and cash equivalents at beginning of period 11 54 58
Cash and cash equivalents at end of period 298 11 54
Supplemental Cash Flow Information      
Cash paid for income taxes 2 0 0
Capitalized costs in accounts payable and accrued liabilities 23 21 28
Related Party      
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Stock-based compensation 41 41 38
Change in operating assets and liabilities:      
Accounts receivable, net (83) (66) (105)
Accounts payable and accrued liabilities 41 191 (4)
Financing Activities:      
Net transfers (to) from Parent 407 12 112
Nonrelated Party      
Change in operating assets and liabilities:      
Accounts receivable, net (455) 0 0
Accounts payable and accrued liabilities $ 137 $ 0 $ 0