Financial Instruments (Tables)

12 Months Ended

Apr. 24, 2020

Investments [Abstract]

Investments by Category and Related Balance Sheet Presentation

The following tables summarize the Company's investments in available-for-sale debt securities by significant investment category and the related consolidated balance sheet classification at April 24, 2020 and April 26, 2019:

	April 24, 2020
	Valuation								Balance Sheet Classification
(in millions)	Cost		Unrealized Gains		Unrealized Losses		Fair Value		Investments		Other Assets
Level 1:
U.S. government and agency securities	$	542	$	47	$	—	$	589	$	589	$	—
Level 2:
Corporate debt securities	4,285		66		(90)		4,261		4,261		—
U.S. government and agency securities	746		1		—		747		747		—
Mortgage-backed securities	705		20		(28)		697		697		—
Non-U.S. government and agency securities	34		—		—		34		34		—
Other asset-backed securities	499		1		(20)		480		480		—
Total Level 2	6,269		88		(138)		6,219		6,219		—
Level 3:
Auction rate securities	36		—		(3)		33		—		33
Total available-for-sale debt securities	$	6,847	$	135	$	(141)	$	6,841	$	6,808	$	33

	April 26, 2019
	Valuation								Balance Sheet Classification
(in millions)	Cost		Unrealized Gains		Unrealized Losses		Fair Value		Investments		Other Assets
Level 1:
U.S. government and agency securities	$	529	$	1	$	(7)	$	523	$	523	$	—
Level 2:
Corporate debt securities	3,500		14		(21)		3,493		3,493		—
U.S. government and agency securities	387		1		(7)		381		381		—
Mortgage-backed securities	537		3		(20)		520		520		—
Non-U.S. government and agency securities	11		—		—		11		11		—
Other asset-backed securities	529		1		(3)		527		527		—
Total Level 2	4,964		19		(51)		4,932		4,932		—
Level 3:
Auction rate securities	47		—		(3)		44		—		44
Total available-for-sale debt securities	$	5,540	$	20	$	(61)	$	5,499	$	5,455	$	44

Gross Unrealized Losses and Fair Values of Available-for-sale Securities that Have Been in a Continuous Unrealized Loss Position Deemed to be Temporary, Aggregated by Investment Category

The following tables present the gross unrealized losses and fair values of the Company’s available-for-sale debt securities that have been in a continuous unrealized loss position deemed to be temporary, aggregated by investment category, at April 24, 2020 and April 26, 2019:

	April 24, 2020
	Less than 12 months				More than 12 months
(in millions)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Corporate debt securities	$	1,368	$	(2)	$	2,893	$	(88)
Mortgage-backed securities	35		(1)		663		(27)
Other asset-backed securities	17		—		463		(20)
Auction rate securities	33		(3)		—		—
Total	$	1,453	$	(6)	$	4,019	$	(135)

	April 26, 2019
	Less than 12 months				More than 12 months
(in millions)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government and agency securities	$	130	$	(1)	$	649	$	(13)
Corporate debt securities	582		(5)		1,153		(16)
Mortgage-backed securities	73		(1)		250		(19)
Other asset-backed securities	290		(2)		85		(1)
Auction rate securities	—		—		44		(3)
Total	$	1,075	$	(9)	$	2,181	$	(52)

Activity Related to the Company's Debt Securities Portfolio

Activity related to the Company’s debt securities portfolio is as follows:

(in millions)	April 24, 2020		April 26, 2019		April 27, 2018
Proceeds from sales	$	9,559	$	3,718	$	3,309
Gross realized gains	25		18		27
Gross realized losses	(22)		(62)		(21)

Available-for-sale Debt Securities Contractual Maturities

The April 24, 2020 balance of available-for-sale debt securities by contractual maturity is shown in the following table. Within the table, maturities of mortgage-backed securities have been allocated based upon timing of estimated cash flows assuming no change in the current interest rate environment. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

(in millions)	April 24, 2020
Due in one year or less	$	2,190
Due after one year through five years	2,854
Due after five years through ten years	1,733
Due after ten years	64
Total debt securities	$	6,841

Summary of Equity and Other Investments

The following table summarizes the Company's equity and other investments at April 24, 2020 and April 26, 2019, which are classified as other assets in the consolidated balance sheets:

(in millions)	April 24, 2020		April 26, 2019
Investments with readily determinable fair values (marketable equity securities)	$	18	$	—
Investments without readily determinable fair values	391		308
Equity method and other investments	71		64
Total equity and other investments	$	480	$	372

Activity Related to the Company's Equity and Other Investments Portfolio

The table below includes activity related to the Company’s portfolio of equity and other investments. Gains and losses on equity and other investments are recognized in other non-operating income, net in the consolidated statements of income. 

(in millions)	April 24, 2020		April 26, 2019		April 27, 2018
Proceeds from sales	$	15	$	964	$	918
Gross gains	17		134		18
Gross losses	(30)		(30)		(4)
Recognized impairment losses	(4)		(45)		(231)