v3.26.1
Composition of Certain Financial Statement Items
 3 Months Ended
Jul. 31, 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 July 31, 2026 and April 24, 2026:
(in millions)July 31, 2026April 24, 2026
Raw materials$128 
 
$128 
Work in process35 34 
Finished goods193 179 
Total$356 $341 
Goodwill
As of July 31, 2026 and April 24, 2026, 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 three months ended July 31, 2026 and July 25, 2025.
Intangible Assets
The following table presents the gross carrying amount and accumulated amortization of intangible assets:
(in millions)July 31, 2026April 24, 2026
Intangible AssetsGross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated Amortization
Purchased technology and patents$245 $(153)$245 $(147)
Customer-related70 (63)70 (63)
Trademarks, tradenames and other5 (4)5 (3)
Total$321 $(221)$321 $(214)
The Company did not recognize any definite-lived intangible asset impairment charges during the three months ended July 31, 2026 and July 25, 2025.
Amortization Expense
The following table presents the intangible asset amortization expense classification for the three months ended July 31, 2026 and July 25, 2025:
Three Months Ended
(in millions)July 31, 2026July 25, 2025
Cost of products sold$6 $6 
Selling, general, and administrative expense1 1 
Total amortization expense$6 $7 
Other Accrued Expenses
Other accrued expenses included in the consolidated balance sheets were as follows:
(in millions)July 31, 2026April 24, 2026
Contract termination accrual$8 $24 
Accrued income taxes34 38 
Accrued litigation charges
22 24 
Accrued warranties18 17 
Deferred income14 15 
Operating lease obligations9 8 
Right of return5 6 
Other accrued expenses(1)
76 61 
Total$185 $194 
(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 three months ended July 31, 2026 and July 25, 2025:
Three Months Ended
(in millions)July 31, 2026July 25, 2025
Balance at the beginning of the period$63 $57 
Provisions for warranties issued during the period11 13 
Settlements made during the period(11)(13)
Adjustment of prior estimates5 — 
Balance at end of the period$68 $58 
As of July 31, 2026 and April 24, 2026, total product warranty reserves were included in the following consolidated balance sheet accounts:
(in millions)July 31, 2026April 24, 2026
Other accrued expenses$18 $17 
Other liabilities50 47 
Total warranty reserves$68 $63