v3.26.3
Composition of Certain Financial Statement Items (Tables)
 3 Months Ended
Jul. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory Balances
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 
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 
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 
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(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.
Schedule of Gross Carrying Amount and Accumulated Amortization of Definite-Lived 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 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 
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 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 
Schedule of Estimated Future Aggregate Amortization Expense
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 
Schedule of 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 charges24 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 
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(1)Other accrued expenses includes general accrued expenses as well as accruals related to restructuring, product remediation, clinical trials, and consultant fees.
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 charges22 24 
Accrued warranties18 17 
Deferred income14 15 
Operating lease obligations9 8 
Right of return5 6 
Other accrued expenses(1)
76 61 
Total$185 $194 
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(1)Other accrued expenses includes general accrued expenses as well as accruals related to restructuring, product remediation, clinical trials, and consultant fees.
Schedule of Product Warranty Liability
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 
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