v3.26.3
CONDENSED COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jul. 31, 2026
Jul. 25, 2025
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Operating Activities:          
Net loss $ 0 $ (16) $ (317) $ (198) $ (107)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:          
Depreciation and amortization 41 39 156 143 129
Provision for credit losses 6 3 28 21 22
Deferred income taxes 2 0 (54) (2) 3
Stock-based compensation 10 9 46 41 38
Postretirement benefit plan expense 0 2 7 8 8
Asset impairments     84 0 0
Other, net 1 11 19 5 21
Change in operating assets and liabilities:          
Inventories (15) (30) (29) (19) 5
Blackstone funding arrangement     157 0 0
Other operating assets and liabilities (25) 18 66 16 30
Net cash (used in) provided by operating activities (49) (141) (197) 140 41
Investing Activities:          
Additions to property, plant, and equipment (41) (53) (223) (193) (148)
Purchases of investments     0 0 (5)
Sales and maturities of investments     0 0 11
Other investing activities, net 0 (10) (10) 0 (14)
Net cash used in investing activities (41) (63) (233) (193) (157)
Financing Activities:          
Issuance of common stock from IPO     538 0 0
Net transfers (to) from Parent 0 202 407 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 0 202 716 10 112
Effect of exchange rate changes on cash and cash equivalents (1) 0 1 0 0
Net change in cash and cash equivalents (91) (2) 287 (43) (4)
Cash and cash equivalents at beginning of period 298 11 11 54 58
Cash and cash equivalents at end of period 207 9 298 11 54
Supplemental Cash Flow Information          
Cash paid for income taxes     2 0 0
Capitalized costs in accounts payable and accrued liabilities 42 25 23 21 28
Related Party          
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:          
Stock-based compensation   9 41 41 38
Change in operating assets and liabilities:          
Accounts receivable, net 13 (5) (83) (66) (105)
Accounts payable and accrued liabilities 25 (171) 41 191 (4)
Financing Activities:          
Net transfers (to) from Parent   202 407 12 112
Nonrelated Party          
Change in operating assets and liabilities:          
Accounts receivable, net (161) 0 (455) 0 0
Accounts payable and accrued liabilities $ 53 $ 0 $ 137 $ 0 $ 0