NETAPP, INC., 10-K filed on 6/5/2026
Annual Report
v3.26.1
Document and Entity Information - USD ($)
$ in Billions
12 Months Ended
Apr. 24, 2026
May 28, 2026
Oct. 24, 2025
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Apr. 24, 2026    
Document Fiscal Year Focus 2026    
Document Fiscal Period Focus FY    
Trading Symbol NTAP    
Entity Registrant Name NetApp, Inc.    
Entity Central Index Key 0001002047    
Current Fiscal Year End Date --04-24    
Entity Well-known Seasoned Issuer Yes    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   195,919,927  
Entity Public Float     $ 17.1
Entity File Number 000-27130    
Entity Tax Identification Number 77-0307520    
Entity Address, Address Line One 3060 Olsen Drive    
Entity Address, City or Town San Jose    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 95128    
City Area Code 408    
Local Phone Number 822-6000    
Document Annual Report true    
Document Transition Report false    
Entity Incorporation, State or Country Code DE    
Entity Interactive Data Current Yes    
Security Exchange Name NASDAQ    
Title of 12(b) Security Common Stock, $0.001 Par Value    
Documents Incorporated by Reference

The information called for by Part III of this Form 10-K is hereby incorporated by reference from the definitive Proxy Statement for our annual meeting of stockholders, which will be filed with the Securities and Exchange Commission not later than 120 days after April 24, 2026.

   
Document Financial Statement Error Correction [Flag] false    
Auditor Opinion

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheets of NetApp, Inc. and subsidiaries (the "Company") as of April 24, 2026, and April 25, 2025, the related consolidated statements of income, comprehensive income, stockholders' equity, and cash flows, for each of the three years in the period ended April 24, 2026, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of April 24, 2026, and April 25, 2025, and the results of its operations and its cash flows for each of the three years in the period ended April 24, 2026, in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of April 24, 2026, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated June 5, 2026, expressed an unqualified opinion on the Company's internal control over financial reporting.

   
Auditor Firm ID 34    
Auditor Location Raleigh, North Carolina    
Auditor Name DELOITTE & TOUCHE LLP    
v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Current assets:    
Cash and cash equivalents $ 2,070 $ 2,742
Short-term investments 1,514 1,104
Accounts receivable 1,286 1,246
Inventories 198 186
Other current assets 708 573
Total current assets 5,776 5,851
Property and equipment, net 592 563
Goodwill 2,772 2,723
Purchased intangible assets, net 22 43
Other non-current assets 1,582 1,643
Total assets 10,744 10,823
Current liabilities:    
Accounts payable 550 511
Accrued expenses 1,151 1,122
Current portion of long-term debt 0 750
Short-term deferred revenue 2,320 2,279
Total current liabilities 4,021 4,662
Long-term debt 2,487 2,485
Other long-term liabilities 360 379
Long-term deferred revenue 2,525 2,257
Total liabilities 9,393 9,783
Commitments and contingencies (Note 16)
Stockholders' equity:    
Preferred stock, $0.001 par value, 5 shares authorized; no shares issued or outstanding as of April 25, 2025 or April 26, 2024 0 0
Common stock and additional paid-in capital, $0.001 par value, 885 shares authorized; 198 and 201 shares issued and outstanding as of April 24, 2026 and April 25, 2025, respectively 1,209 1,106
Retained earnings 153 0
Accumulated other comprehensive loss (11) (66)
Total stockholders' equity 1,351 1,040
Total liabilities and stockholders' equity $ 10,744 $ 10,823
v3.26.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Millions
Apr. 24, 2026
Apr. 25, 2025
Statement of Financial Position [Abstract]    
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares authorized 5 5
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value $ 0.001 $ 0.001
Common stock, shares authorized 885 885
Common stock, shares issued 196 201
Common stock, shares outstanding 196 201
v3.26.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Revenues:      
Net revenues $ 6,925 $ 6,572 $ 6,268
Cost of revenues:      
Total cost of revenues 2,026 1,959 1,835
Gross profit 4,899 4,613 4,433
Operating expenses:      
Sales and marketing 1,869 1,865 1,828
Research and development 991 1,012 1,029
General and administrative 344 311 308
Restructuring charges 21 83 44
Acquisition-related expense 0 5 10
Total operating expenses 3,225 3,276 3,219
Income from operations 1,674 1,337 1,214
Other (expense) income, net (26) 46 49
Income before income taxes 1,648 1,383 1,263
Provision for income taxes 372 197 277
Net income $ 1,276 $ 1,186 $ 986
Net income per share:      
Basic $ 6.41 $ 5.81 $ 4.74
Diluted $ 6.35 $ 5.67 $ 4.63
Shares used in net income per share calculations:      
Basic 199 204 208
Diluted 201 209 213
Product [Member]      
Revenues:      
Net revenues $ 3,194 $ 3,040 $ 2,849
Cost of revenues:      
Total cost of revenues 1,401 1,284 1,137
Service [Member]      
Revenues:      
Net revenues 3,731 3,532 3,419
Cost of revenues:      
Total cost of revenues $ 625 $ 675 $ 698
v3.26.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Statement of Comprehensive Income [Abstract]      
Net income $ 1,276 $ 1,186 $ 986
Other comprehensive loss:      
Foreign currency translation adjustments 52 (3) (5)
Defined benefit obligations:      
Defined benefit obligation adjustments 1 (2) (4)
Unrealized gains on available-for-sale securities:      
Unrealized holding gains arising during the period 0 1 0
Unrealized gains (losses) on cash flow hedges:      
Unrealized holding gains (losses) arising during the period (0) (2) 2
Reclassification adjustments for losses (gains) included in net income 2 (1) (1)
Other comprehensive income (loss) 55 (7) (8)
Comprehensive income $ 1,331 $ 1,179 $ 978
v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Cash flows from operating activities:      
Net income $ 1,276 $ 1,186 $ 986
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 200 243 255
Non-cash operating lease cost 42 41 45
Stock-based compensation 382 386 357
Deferred income taxes 135 (100) 53
Other items, net 55 0 (13)
Changes in assets and liabilities:      
Accounts receivable (36) (219) (33)
Inventories (12) (1) (18)
Other operating assets (248) (87) (62)
Accounts payable 31 (8) 123
Accrued expenses (23) 62 113
Deferred revenue 281 208 (14)
Long-term taxes payable (7) (207) (106)
Other operating liabilities (9) 2 (1)
Net cash provided by operating activities 2,067 1,506 1,685
Cash flows from investing activities:      
Purchases of investments (2,758) (1,782) (2,635)
Maturities, sales and collections of investments 2,346 2,027 2,055
Purchases of property and equipment (198) (168) (155)
Other investing activities, net 15 70 0
Net cash (used in) provided by investing activities (595) 147 (735)
Cash flows from financing activities:      
Proceeds from issuance of common stock under employee stock award plans 103 108 100
Payments for taxes related to net share settlement of stock awards (137) (199) (127)
Repurchase of common stock (950) (1,150) (900)
Issuances of debt, net of issuance costs 0 1,240 0
Repayments and extinguishment of debt (750) (400) 0
Dividends paid (413) (424) (416)
Other financing activities, net 0 (3) (1)
Net cash used in financing activities (2,147) (828) (1,344)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1 15 (19)
Net change in cash, cash equivalents and restricted cash (674) 840 (413)
Cash, cash equivalents and restricted cash:      
Beginning of period 2,749 1,909 2,322
End of period $ 2,075 $ 2,749 $ 1,909
v3.26.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock and Additional Paid-in Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Loss
Balances at Apr. 28, 2023 $ 1,159 $ 945 $ 265 $ (51)
Balances (in shares) at Apr. 28, 2023   212    
Net Income (Loss) 986   986  
Other comprehensive income (8)     (8)
Issuance of common stock under employee stock award plans, net of taxes (27) $ (27)    
Issuance of common stock under employee stock award plans, net of taxes (in shares)   6    
Repurchase of common stock (900) $ (102) (798)  
Repurchase of common stock, shares   (12)    
Excise tax on net stock repurchases (5) $ (5)    
Stock-based compensation 353 353    
Modification of liability-classified awards 4 4    
Cash dividends declared (416) (171) (245)  
Balances at Apr. 26, 2024 1,146 $ 997 208 (59)
Balances (in shares) at Apr. 26, 2024   206    
Net Income (Loss) 1,186   1,186  
Other comprehensive income (7)     (7)
Issuance of common stock under employee stock award plans, net of taxes (91) $ (91)    
Issuance of common stock under employee stock award plans, net of taxes (in shares)   5    
Repurchase of common stock (1,150) $ (50) (1,100)  
Repurchase of common stock, shares   (10)    
Excise tax on net stock repurchases (6) $ (6)    
Stock-based compensation 386 386    
Cash dividends declared (424) (130) (294)  
Balances at Apr. 25, 2025 $ 1,040 $ 1,106 0 (66)
Balances (in shares) at Apr. 25, 2025 201 201    
Net Income (Loss) $ 1,276   1,276  
Other comprehensive income 55     55
Issuance of common stock under employee stock award plans, net of taxes (34) $ (34)    
Issuance of common stock under employee stock award plans, net of taxes (in shares)   4    
Repurchase of common stock (950) $ (98) (852)  
Repurchase of common stock, shares   (9)    
Excise tax on net stock repurchases (5) $ (5)    
Stock-based compensation 382 382    
Cash dividends declared (413) (142) (271)  
Balances at Apr. 24, 2026 $ 1,351 $ 1,209 $ 153 $ (11)
Balances (in shares) at Apr. 24, 2026 196 196    
v3.26.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares
12 Months Ended
May 21, 2026
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Statement of Stockholders' Equity [Abstract]        
Cash dividends declared, per common share $ 0.52 $ 2.08 $ 2.08 $ 2
v3.26.1
Cybersecurity Risk Management, Strategy, and Governance
12 Months Ended
Apr. 24, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Item 1C. Cybersecurity

 

Risk Management and Strategy

The Company regularly assesses risks from cybersecurity threats, monitors its information systems for potential vulnerabilities, and tests those systems pursuant to the Company’s cybersecurity policies, standards, processes and practices, which are integrated into the Company’s overall risk management system. To protect the Company’s information systems from cybersecurity threats, the Company uses various security technologies and tools that help the Company identify, escalate, investigate, manage, resolve and recover from security incidents in a timely manner. These efforts include:

ongoing collection of threat intelligence and environment awareness through monitoring,
data protection management and vulnerability monitoring through data loss prevention and exfiltration tools,
cybersecurity risk management processes and practices,
control assurance,
secure development of new products,
identity and access management,
incident response, auditing and monitoring, and
maintaining a 24x7 security operations center to allow for always available incident response.

The Company takes a risk-based approach to cybersecurity and has implemented cybersecurity policies throughout its operations that are designed to address cybersecurity threats and incidents. In particular, the Company follows an incident escalation process that is incorporated into its incident and risk management processes. In the event the Company identifies a cybersecurity incident, its senior management, consisting of the Chief Financial Officer, Chief Information Security Officer (CISO), Chief Administrative Officer, and Executive Vice President of Business Technology and Operations review the facts and circumstances involved in such cybersecurity incident, or series of related cybersecurity incidents.

The Company partners with third parties to assess the effectiveness of its cybersecurity prevention and response systems and processes, including third-party review of the Company’s Information Security Management System for ISO 27001 controls, assessment of the Company’s cloud products and managed services according to the American Institute of CPAs (AICPA) Service Organization Control (SOC) Audit Type II, and new product validation as part of the Company’s secure development lifecycle. The Company additionally engages third-party providers in support of endpoint detection and responses, data loss prevention efforts, and incident management efforts.

To date, the Company is not aware of cybersecurity threats, including as a result of any previous cybersecurity incidents, that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations or financial condition. For additional discussion of cybersecurity risks and potential related impacts on the Company, refer to the risk factors in Part I, Item 1A – “Risk Factors,” including “If a material cybersecurity or other security breach impacts our services, systems, supply chain, or end-user customer systems, or if stored data is improperly accessed, our business could suffer significant harm.”

 

Governance

NetApp's Board of Directors oversees the Company’s risk management process, including cybersecurity risks, directly and through its committees. The Audit Committee of the Board of Directors oversees the Company’s risk management program, which focuses on the most significant risks the Company faces in the short-, intermediate-, and long-term timeframes. The Company’s CISO presents cybersecurity updates to the Audit Committee at least twice a year, and has a standing quarterly private session to update the Audit Committee on any relevant matters, as needed. Such updates include a review of cybersecurity risks affecting the Company, related metrics, and any incidents or issues that require attention from the Audit Committee or Board of Directors. Additionally, the Board of Directors receives a presentation at least annually regarding key developments and topics in cybersecurity from management along with a third party cybersecurity expert.

The CISO provides leadership, strategic direction, and oversight for NetApp’s Global Security Risk and Compliance functions and security program. Global Security executives oversee management of risks and track projects progress, remediations, and any issues related to cybersecurity risks.

NetApp’s CISO is responsible for leading the assessment and management of cybersecurity risks. The current CISO has over 30 years of experience in IT and information security, including over 16 years with NetApp in roles of increasing seniority, and is a Certified Information Security Auditor, Certified Information Security Manager with ISACA and a Certified Information Systems Security Professional with ISC2. The CISO stays informed on information security risks through regular meetings on key cybersecurity projects and KPIs. Updates are communicated to the Global Security Steering Committee, which provides quarterly reports to the Board of Directors and to the Audit Committee.

Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] The Company regularly assesses risks from cybersecurity threats, monitors its information systems for potential vulnerabilities, and tests those systems pursuant to the Company’s cybersecurity policies, standards, processes and practices, which are integrated into the Company’s overall risk management system.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

Governance

NetApp's Board of Directors oversees the Company’s risk management process, including cybersecurity risks, directly and through its committees. The Audit Committee of the Board of Directors oversees the Company’s risk management program, which focuses on the most significant risks the Company faces in the short-, intermediate-, and long-term timeframes. The Company’s CISO presents cybersecurity updates to the Audit Committee at least twice a year, and has a standing quarterly private session to update the Audit Committee on any relevant matters, as needed. Such updates include a review of cybersecurity risks affecting the Company, related metrics, and any incidents or issues that require attention from the Audit Committee or Board of Directors. Additionally, the Board of Directors receives a presentation at least annually regarding key developments and topics in cybersecurity from management along with a third party cybersecurity expert.

Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee of the Board of Directors oversees the Company’s risk management program, which focuses on the most significant risks the Company faces in the short-, intermediate-, and long-term timeframes.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Board of Directors oversees the Company’s risk management process, including cybersecurity risks, directly and through its committees. The Audit Committee of the Board of Directors oversees the Company’s risk management program, which focuses on the most significant risks the Company faces in the short-, intermediate-, and long-term timeframes. The Company’s CISO presents cybersecurity updates to the Audit Committee at least twice a year, and has a standing quarterly private session to update the Audit Committee on any relevant matters, as needed. Such updates include a review of cybersecurity risks affecting the Company, related metrics, and any incidents or issues that require attention from the Audit Committee or Board of Directors. Additionally, the Board of Directors receives a presentation at least annually regarding key developments and topics in cybersecurity from management along with a third party cybersecurity expert.
Cybersecurity Risk Role of Management [Text Block]

The CISO provides leadership, strategic direction, and oversight for NetApp’s Global Security Risk and Compliance functions and security program. Global Security executives oversee management of risks and track projects progress, remediations, and any issues related to cybersecurity risks.

NetApp’s CISO is responsible for leading the assessment and management of cybersecurity risks. The current CISO has over 30 years of experience in IT and information security, including over 16 years with NetApp in roles of increasing seniority, and is a Certified Information Security Auditor, Certified Information Security Manager with ISACA and a Certified Information Systems Security Professional with ISC2. The CISO stays informed on information security risks through regular meetings on key cybersecurity projects and KPIs. Updates are communicated to the Global Security Steering Committee, which provides quarterly reports to the Board of Directors and to the Audit Committee.

Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The CISO provides leadership, strategic direction, and oversight for NetApp’s Global Security Risk and Compliance functions and security program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] NetApp’s CISO is responsible for leading the assessment and management of cybersecurity risks. The current CISO has over 30 years of experience in IT and information security, including over 16 years with NetApp in roles of increasing seniority, and is a Certified Information Security Auditor, Certified Information Security Manager with ISACA and a Certified Information Systems Security Professional with ISC2.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The CISO stays informed on information security risks through regular meetings on key cybersecurity projects and KPIs. Updates are communicated to the Global Security Steering Committee, which provides quarterly reports to the Board of Directors and to the Audit Committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.26.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Pay vs Performance Disclosure      
Net Income (Loss) $ 1,276 $ 1,186 $ 986
v3.26.1
Insider Trading Arrangements
3 Months Ended
Apr. 24, 2026
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement

Item 9B. Other Information

Insider Adoption or Termination of Trading Arrangements

On March 24, 2026, Cesar Cernuda, President of the Company, entered into a Rule 10b5-1 trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) promulgated under the Exchange Act. The trading arrangement will expire on December 31, 2026 and may be terminated earlier in the limited circumstances defined in the trading arrangement, An aggregate of up to 54,681 shares may be sold pursuant to the trading arrangement.

No other directors or executive officers of the Company adopted, modified or terminated any contract, instruction or written plan for the purchase or sale of the Company's securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K) during the fourth quarter of fiscal 2026.

Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arrangement Modified false
Non-Rule 10b5-1 Arrangement Modified false
Cesar Cernuda [Member]  
Trading Arrangements, by Individual  
Name Cesar Cernuda
Title President of the Company
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 24, 2026
Expiration Date December 31, 2026
Aggregate Available 54,681
v3.26.1
Insider Trading Policies and Procedures
12 Months Ended
Apr. 24, 2026
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.26.1
Description of Business and Significant Accounting Policies
12 Months Ended
Apr. 24, 2026
Accounting Policies [Abstract]  
Description of Business and Significant Accounting Policies

1. Description of Business and Significant Accounting Policies

Description of Business — NetApp, Inc. (we, us, NetApp, or the Company) empowers organizations to realize the full potential of their data in a rapidly evolving digital world. NetApp delivers innovative solutions that enable seamless data management, protection, and mobility across on-premises, hybrid, and multi-cloud environments.

Fiscal Year — Our fiscal year is reported on a 52- or 53-week year ending on the last Friday in April. An additional week is included in the first fiscal quarter approximately every six years to realign fiscal months with calendar months. Fiscal years 2026, 2025 and 2024, which ended on April 24, 2026, April 25, 2025 and April 26, 2024, respectively, are all 52-week years, with 13 weeks in each of their quarters. Unless otherwise stated, references to particular years, quarters, months, and periods refer to the Company’s fiscal years ended on the last Friday of April and the associated quarters, months, and periods of those fiscal years.

Principles of Consolidation — The consolidated financial statements include the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation.

Use of Estimates — The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates include, but are not limited to, revenue recognition, reserves and allowances; inventory valuation; valuation of goodwill and intangibles; restructuring reserves; employee benefit accruals; stock-based compensation; loss contingencies; investment impairments; income taxes; and fair value measurements. Actual results could differ materially from those estimates, the anticipated effects of which have been incorporated, as applicable, into management’s estimates as of and for the year ended April 24, 2026.

Cash Equivalents — We consider all highly liquid debt investments with original maturities of three months or less at the time of purchase to be cash equivalents.

Available-for-Sale Investments — We classify our investments in debt securities as available-for-sale investments. Debt securities primarily consist of U.S. Treasury and government debt securities and certificates of deposit. These investments are primarily held in the custody of a major financial institution. A specific identification method is used to determine the cost basis of debt securities sold. These investments are recorded in the consolidated balance sheets at fair value.

Unrealized gains and temporary losses, net of related taxes, are included in accumulated other comprehensive income (loss) (AOCI). Upon realization, those amounts are reclassified from AOCI to earnings. The amortization of premiums and discounts on the investments are included in our results of operations. Realized gains and losses are calculated based on the specific identification method.

We classify our investments as current or noncurrent based on the nature of the investments and their availability for use in current operations.

Impairments on Investments — All of our available-for-sale investments are subject to periodic impairment review. When the fair value of a debt security is less than its amortized cost, we assess what amount of the difference, if any, is caused by expected credit losses. The amount of the difference representing credit losses (defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis of the debt security) is recognized in earnings, and the amount relating to all other factors is recognized in other comprehensive income (OCI). If we intend to sell the security, or if it is more likely than not we will be required to sell the security before recovery of the amortized cost basis, the entire difference between the amortized cost and the fair value of the debt security is recognized in earnings.

Inventories — Inventories are stated at the lower of cost or net realizable value, which approximates actual cost on a first-in, first-out basis. We write down excess and obsolete inventory based on the difference between the cost of inventory and the estimated net realizable value. Net realizable value is estimated using management’s best estimate of forecasts for future demand and expectations regarding market conditions. At the point of a loss recognition, a new, lower cost basis for that inventory is established, and subsequent changes in facts or circumstances do not result in the restoration or increase in that newly established basis. In addition, we record a liability for firm, non-cancelable and unconditional purchase commitments with contract manufacturers and suppliers for quantities in excess of our future demand forecasts consistent with our valuation of excess and obsolete inventory.

Property and Equipment — Property and equipment are recorded at cost.

Depreciation and amortization is computed using the straight-line method, generally over the following periods:

 

 

 

Depreciation Life

Buildings and improvements

 

10 to 40 years

Furniture and fixtures

 

5 years

Computer, production, engineering and other equipment

 

2 to 3 years

Computer software

 

3 to 5 years

Leasehold improvements

 

Shorter of remaining lease term or useful life

Construction in progress will be depreciated over the estimated useful lives of the respective assets when they are ready for use. We capitalize interest on significant facility assets under construction and on significant software development projects. Interest capitalized during the periods presented was not material.

Software Development Costs — The costs for the development of new software products and substantial enhancements to existing software products are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized in accordance with the accounting guidance for software. Because our current process for developing software is essentially completed concurrently with the establishment of technological feasibility, which occurs upon the completion of a working model, no costs have been capitalized for any of the periods presented.

Internal-Use Software Development Costs — We capitalize qualifying costs, which are incurred during the application development stage, for computer software developed or obtained for internal-use to property and equipment, net and amortize them over the software’s estimated useful life.

Business Combinations — We recognize identifiable assets acquired and liabilities assumed at their acquisition date fair values, with the exception of contract assets and liabilities, which we recognize in accordance with our revenue recognition policy as if we had originally executed the customer contract. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date values of the assets acquired and liabilities assumed. While we use our best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that we identify adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of income.

Goodwill and Purchased Intangible Assets — Goodwill is recorded when the consideration paid for an acquisition exceeds the value of net tangible and intangible assets acquired. Purchased intangible assets with finite lives are generally amortized on a straight-line basis over their economic lives of three to five years for developed technology, two to five years for customer contracts/relationships, two to three years for covenants not to compete and two to five years for trademarks and trade names as we believe this method most closely reflects the pattern in which the economic benefits of the assets will be consumed. In-process research and development is accounted for as an indefinite lived intangible asset and is assessed for potential impairment annually until development is complete or when events or circumstances indicate that their carrying amounts might be impaired. Upon completion of development, in-process research and development is accounted for as a finite-lived intangible asset.

The carrying value of goodwill is tested for impairment on an annual basis in the fourth quarter of our fiscal year, or more frequently if we believe indicators of impairment exist. Triggering events for impairment reviews may be indicators such as adverse industry or economic trends, restructuring actions, lower projections of profitability, or a sustained decline in our market capitalization. For the purpose of impairment testing, we have two reporting units, which are the same as our two reportable segments. We initially conduct a qualitative assessment to determine whether it is necessary to perform a quantitative goodwill impairment test. The performance of the quantitative impairment test requires comparing the fair value of each reporting unit to its carrying amount, including goodwill. The fair value of each reporting unit is based on a combination of the income approach and the market approach.

Under the income approach, we estimate the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on discrete forecast periods as well as terminal value determinations, and are derived based on forecasted revenue growth rates and operating margins. These cash flow projections are discounted to arrive at the fair value of each reporting unit. The discount rate used is based on the weighted-average cost of capital of comparable public companies adjusted for the relevant risk associated with business specific characteristics and the uncertainty related to the reporting unit's ability to execute on the projected cash flows. Under the market approach, we estimate the fair value based on market multiples of revenue and earnings derived from comparable publicly traded companies with operating and investment characteristics similar to the reporting unit. In addition, we make certain judgments and assumptions in allocating shared assets and liabilities to individual reporting units to determine the carrying amount of each reporting unit. An impairment exists if the fair value of a reporting unit is lower than its carrying amount. The impairment loss is measured based on the amount by which the carrying amount of the reporting unit exceeds its fair value, with the recognized loss not to exceed the total amount of allocated goodwill. We did not recognize any impairment charges on our goodwill in any of the periods presented.

Impairment of Long-Lived Assets — We review the carrying values of long-lived assets whenever events and circumstances, such as reductions in demand, lower projections of profitability, significant changes in the manner of our use of acquired assets, or significant negative industry or economic trends, indicate that the net book value of an asset may not be recovered through expected future cash flows from its use and eventual disposition. If this review indicates that there is an impairment, the impaired asset is written down to its fair value, which is typically calculated using: (i) quoted market prices and/or (ii) expected future cash flows utilizing a discount rate. Our estimates regarding future anticipated cash flows, the remaining economic life of the products and technologies, or both, may differ materially from actual cash flows and remaining economic life. In that event, impairment charges or shortened useful lives of certain long-lived assets may be required, resulting in charges to our consolidated statements of income when such determinations are made.

Derivative Instruments — Our derivative instruments, which are carried at fair value in our consolidated balance sheets, consist of foreign currency exchange contracts as described below:

Balance Sheet Hedges — We utilize foreign currency exchange forward contracts to hedge against the short-term impact of foreign currency exchange rate fluctuations related to certain foreign currency denominated monetary assets and liabilities, primarily intercompany receivables and payables. These derivative instruments are not designated as hedging instruments and do not subject us to material balance sheet risk due to exchange rate movements because the gains and losses on these contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities being hedged, and the net amount is included in earnings.

Cash Flow Hedges — We utilize foreign currency exchange forward contracts to hedge foreign currency exchange exposures related to forecasted sales transactions denominated in certain foreign currencies. These derivative instruments are designated and qualify as cash flow hedges and, in general, closely match the underlying forecasted transactions in duration. The effective portion of the contracts’ gains and losses resulting from changes in fair value is recorded in AOCI until the forecasted transaction is recognized in the consolidated statements of income. When the forecasted transactions occur, we reclassify the related gains or losses on the cash flow hedges into net revenues. If the underlying forecasted transactions do not occur, or it becomes probable that they will not occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified from AOCI and recognized immediately in earnings. We measure the effectiveness of hedges of forecasted transactions on a monthly basis by comparing the fair values of the designated foreign currency exchange forward purchase contracts with the fair values of the forecasted transactions.

Factors that could have an impact on the effectiveness of our hedging programs include the accuracy of forecasts and the volatility of foreign currency markets. These programs reduce, but do not entirely eliminate, the impact of currency exchange movements. Currently, we do not enter into any foreign currency exchange forward contracts to hedge exposures related to firm commitments. Cash flows from our derivative programs are included under operating activities in the consolidated statements of cash flows.

Revenue Recognition — We recognize revenue by applying the following five step approach.

Identification of the contract, or contracts, with a customer — A contract with a customer is within the scope of ASC 606 when it meets all the following criteria:
-
It is enforceable
-
It defines each party’s rights
-
It identifies the payment terms
-
It has commercial substance, and
-
We determine that collection of substantially all consideration for goods or services that will be transferred is probable based on the customer’s intent and ability to pay

 

Identification of the performance obligations in the contract — Performance obligations promised in a contract are identified based on the goods or services (or a bundle of goods and services) that will be transferred to the customer that are distinct.

 

Determination of the transaction price — The transaction price is determined based on the consideration to which we will be entitled in exchange for transferring goods or services to the customer.

 

Allocation of the transaction price to the performance obligations in the contract — Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation.
Recognition of revenue when, or as, we satisfy a performance obligation — We satisfy performance obligations either over time or at a point in time.

Customarily we have a purchase order from or executed contract with our customers that establishes the goods and services to be transferred and the consideration to be received.

We combine two or more contracts entered into at or near the same time with the same customer as a single contract if the contracts are negotiated as one package with a single commercial objective, if the amount of consideration to be paid on one contract depends on the price or performance of the other contract or if the goods and services promised in each of the contracts are a single performance obligation.

Our contracts with customers may include hardware systems, software licenses, software support, hardware support, public cloud services and other services. Software support contracts entitle our customers to receive unspecified upgrades and enhancements on a when-and-if-available basis, and patch releases. Hardware support services include contracts for extended warranty and technical support with minimum response times. Other services include professional services and customer education and training services.

We identify performance obligations in our contracts to be those goods and services that are distinct. A good or service is distinct where the customer can benefit from the good or service either on its own or together with other resources that are readily available from third parties or from us, and is distinct in the context of the contract, where the transfer of the good or service is separately identifiable from other promises in the contract.

If a contract includes multiple promised goods or services, we apply judgment to determine whether promised goods or services are distinct. If they are not, we combine the goods and services until we have a distinct performance obligation. For example, a configured storage system inclusive of the operating system (OS) software essential to its functionality is considered a single performance obligation, while optional add-on software is a separate performance obligation. In general, hardware support, software support, and different types of professional services are each separate performance obligations.

We determine the transaction price of our contracts with customers based on the consideration to which we will be entitled in exchange for transferring goods or services. Consideration promised may include fixed amounts, variable amounts or both. We sell public cloud services either on a subscription basis or a consumption basis. We sell professional services either on a time and materials basis or under fixed price projects.

We evaluate variable consideration in arrangements with contract terms such as rights of return, potential penalties and acceptance clauses. We generally use the expected value method, primarily relying on our history, to estimate variable consideration. However, when we believe it to provide a better estimate, we use the most likely amount method. In either case, we consider variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Reassessments of our variable consideration may occur as historical information changes. Transaction prices are also adjusted for the effects of time value of money if the timing of payments provides either the customer or us a significant benefit of financing.

Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation on a relative standalone selling price basis. We determine standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, we estimate the standalone selling price by maximizing the use of observable inputs including pricing strategy, market data, internally-approved pricing guidelines related to the performance obligations and other observable inputs. We regularly review standalone selling prices and maintain internal controls over the establishment and updates of these estimates. Variable consideration is also allocated to the performance obligations. If the terms of variable consideration relate to one performance obligation, it is entirely allocated to that obligation. Otherwise, it is allocated to all the performance obligations in the contract.

We typically recognize revenue at a point in time upon the transfer of goods to a customer. Products we transfer at a point in time include our configured hardware systems, OS software licenses, optional add-on software licenses and add-on hardware. Services are typically transferred over time and revenue is recognized based on an appropriate method for measuring our progress toward

completion of the performance obligation. Our stand-ready services, including both hardware and software support, are transferred ratably over the period of the contract. Our public cloud services are transferred either 1) for subscription arrangements, ratably over the subscription period or 2) for consumption-based arrangements, as actually consumed by the customer. For other services such as our fixed professional services contracts, we use an input method to determine the percentage of completion. That is, we estimate the effort to date versus the expected effort required over the life of the contract.

Deferred Commissions We capitalize sales commissions that are incremental direct costs of obtaining customer contracts for which revenue is not immediately recognized and classify them as current or non-current based on the terms of the related contracts. Capitalized commissions are amortized based on the transfer of goods or services to which they relate, typically over one to four years, and are also periodically reviewed for impairment. Amortization expense is recorded to sales and marketing expense in our consolidated statements of income.

Leases — We determine if an arrangement is or contains a lease at inception, and we classify leases as operating or finance leases at commencement. In our consolidated balance sheets, operating lease right-of-use (ROU) assets are included in other non-current assets, while finance lease ROU assets are included in property and equipment, net. Lease liabilities for both types of leases are included in accrued expenses and other long-term liabilities. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments over that term.

 

Operating and finance lease ROU assets and liabilities are recognized at commencement based on the present value of lease payments over the lease term. ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives. The lease term is the noncancelable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that an option will be exercised. As the rate implicit in our leases is typically not readily determinable, in computing the present value of lease payments we generally use our incremental borrowing rate based on information available at the commencement date. Variable lease payments not dependent on an index or rate are expensed as incurred and not included within the calculation of ROU assets and lease liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

We do not separate non-lease components from lease components for any class of leases, and we do not recognize ROU assets and lease liabilities for leases with a lease term of twelve months or less.

Foreign Currency Translation — For international subsidiaries whose functional currency is the local currency, gains and losses resulting from translation of these foreign currency financial statements into U.S. dollars are recorded in AOCI. For international subsidiaries where the functional currency is the U.S. dollar, gains and losses resulting from the process of remeasuring foreign currency financial statements into U.S. dollars are included in other (expense) income, net.

Benefit Plans — We record actuarial gains and losses associated with defined benefit plans within AOCI and amortize net gains or losses in excess of 10 percent of the greater of the market value of plan assets as of the beginning of the fiscal year or the plans' projected benefit obligation on a straight-line basis over the remaining estimated service life of plan participants. The measurement date for all defined benefit plans is our fiscal year end.

Stock-Based Compensation — We measure and recognize stock-based compensation for all stock-based awards, including restricted stock units (RSUs), comprising time-based RSUs and performance-based RSUs (PBRSUs), and rights to purchase shares under our employee stock purchase plan (ESPP), based on their estimated fair value, and recognize the costs in our financial statements using the straight-line attribution approach over the requisite service period for the entire award.

The fair value of employee time-based RSUs, and PBRSUs that include a performance condition, is equal to the market value of our common stock on the grant date of the award, less the present value of expected dividends during the vesting period, discounted at a risk-free interest rate. The fair value of PBRSUs that include a market condition is measured using a Monte Carlo simulation model on the date of grant.

The fair value of time-based RSUs, and PBRSUs that include a market condition, is not remeasured as a result of subsequent stock price fluctuations. When there is a change in management’s estimate of expected achievement relative to the performance target for PBRSUs that include a performance condition, such as our achievement against a billings result average target, the change in estimate results in the recognition of a cumulative adjustment of stock-based compensation expense.

Our stock price volatility assumption is based on a combination of our historical and implied volatility. The risk-free interest rates are based upon United States (U.S.) Treasury bills with equivalent expected terms, and the expected dividends are based on our history and expected dividend payouts.

We account for forfeitures of stock-based awards as they occur.

Income Taxes — Deferred income tax assets and liabilities are provided for temporary differences that will result in tax deductions or income in future periods, as well as the future benefit of tax credit carryforwards. A valuation allowance reduces tax assets to their estimated realizable value.

We recognize the tax liability for uncertain income tax positions on the income tax return based on the two-step process prescribed in the interpretation. The first step is to determine whether it is more likely than not that each income tax position would be sustained upon audit. The second step is to estimate and measure the tax benefit as the amount that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority. Estimating these amounts requires us to determine the probability of various possible outcomes. We evaluate these uncertain tax positions on a quarterly basis. We recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes line on the accompanying consolidated statements of income.

Net Income per Share — Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per share is computed giving effect to the weighted-average number of dilutive potential shares that were outstanding during the period using the treasury stock method. Potential dilutive common shares consist primarily of unvested RSUs and shares to be purchased under our employee stock purchase plan.

Treasury Stock — We account for treasury stock under the cost method. Upon the retirement of treasury stock, we allocate the value of treasury shares between common stock, additional paid-in capital and retained earnings.

v3.26.1
Recent Accounting Pronouncements
12 Months Ended
Apr. 24, 2026
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Recent Accounting Pronouncements

2. Recent Accounting Pronouncements

 

Recent Accounting Pronouncements Not Yet Adopted

In September 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The ASU simplifies the capitalization guidance by removing all references to prescriptive and sequential software development stages (referred to as “project stages”) throughout ASC 350-40. The ASU is effective for annual periods beginning after December 15, 2027, with early adoption permitted. Adoption of this ASU can be applied prospectively; or following a modified transition approach that is based on the status of each project and whether software costs were capitalized before adoption; or retrospectively. We are currently evaluating the effect of this pronouncement on our consolidated financial statements and disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosure of the nature of expenses included in the income statement. The standard requires disclosures about specific types of expenses included in the expense captions presented in the income statement as well as disclosures about selling expenses. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The requirements should be applied on a prospective basis while retrospective application is permitted. We are currently evaluating the effect of this pronouncement on our disclosures.

 

Recently Adopted Accounting Pronouncement

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required for income taxes. This includes the disclosure of specific categories and greater disaggregation within the income tax rate reconciliation as well as disclosure of disaggregated income taxes paid by significant jurisdiction. This ASU is effective for fiscal years beginning after December 15, 2024. We adopted the standard on a prospective basis for fiscal 2026. See Note 12 - Income Taxes for further information.

v3.26.1
Concentration of Risk
12 Months Ended
Apr. 24, 2026
Risks and Uncertainties [Abstract]  
Concentration of Risk

3. Concentration of Risk

Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash, cash equivalents, investments, foreign currency exchange contracts and accounts receivable. We maintain the majority of our cash and cash equivalents with several major financial institutions where the deposits exceed federally insured limits. Cash equivalents and short-term investments consist primarily of money market funds, U.S. Treasury and government debt securities and certificates of deposit, all of which are considered high investment grade. Our policy is to limit the amount of credit exposure through diversification and investment in highly rated securities. We further mitigate concentrations of credit risk in our investments by limiting our investments in the debt securities of a single issuer and by diversifying risk across geographies and type of issuer. General macroeconomic uncertainty has led to an increase in market volatility, however, management believes that the financial institutions that hold our cash, cash equivalents and investments are financially sound and, accordingly, are subject to minimal credit risk.

By entering into foreign currency exchange contracts, we have assumed the risk that might arise from the possible inability of counterparties to meet the terms of their contracts. The counterparties to these contracts are major multinational commercial banks, and we do not expect any losses as a result of counterparty defaults.

We sell our products primarily to large organizations in different industries and geographies. We do not require collateral or other security to support accounts receivable. In addition, we maintain an allowance for potential credit losses. To reduce credit risk, we perform ongoing credit evaluations on our customers’ financial condition. We establish an allowance for doubtful accounts based upon factors surrounding the credit risk of customers, historical trends and other information, including the expected impact of macroeconomic disruptions, and, to date, such losses have been within management’s expectations. Concentrations of credit risk with respect to trade accounts receivable are limited due to the wide variety of customers who are dispersed across many geographic regions.

There are no concentrations of business transacted with a particular market that would severely impact our business in the near term. However, we rely on a limited number of suppliers for certain key components and a few key contract manufacturers to manufacture most of our products; any disruption, or termination of these arrangements could materially adversely affect our operating results.

v3.26.1
Goodwill and Purchased Intangible Assets, Net
12 Months Ended
Apr. 24, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Purchased Intangible Assets, Net

4. Goodwill and Purchased Intangible Assets, Net

Goodwill activity by reportable segment is summarized as follows (in millions):

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Balance as of April 26, 2024

 

$

1,714

 

 

$

1,045

 

 

$

2,759

 

Derecognition

 

 

 

 

 

(36

)

 

 

(36

)

Balance as of April 25, 2025

 

 

1,714

 

 

 

1,009

 

 

 

2,723

 

Impact of foreign currency translation

 

 

 

 

 

49

 

 

 

49

 

Balance as of April 24, 2026

 

$

1,714

 

 

$

1,058

 

 

$

2,772

 

During fiscal 2025, we derecognized a portion of the Public Cloud goodwill in connection with the sale of our cloud optimization and management software business known as Spot by NetApp, which formed part of our Public Cloud reportable segment. See "Gains/losses on the sale or derecognition of assets" section contained in Note 5 – Supplemental Financial Information for additional information related to this derecognition.

 

Purchased intangible assets, net are summarized below (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

 

Gross

 

 

Accumulated

 

 

Net

 

 

Gross

 

 

Accumulated

 

 

Net

 

 

 

Assets

 

 

Amortization

 

 

Assets

 

 

Assets

 

 

Amortization

 

 

Assets

 

Developed technology

 

$

55

 

 

$

(44

)

 

$

11

 

 

$

55

 

 

$

(33

)

 

$

22

 

Customer contracts/relationships

 

 

50

 

 

 

(39

)

 

 

11

 

 

 

50

 

 

 

(29

)

 

 

21

 

Other purchased intangibles

 

 

2

 

 

 

(2

)

 

 

 

 

 

2

 

 

 

(2

)

 

 

 

Total purchased intangible assets

 

$

107

 

 

$

(85

)

 

$

22

 

 

$

107

 

 

$

(64

)

 

$

43

 

Amortization expense for purchased intangible assets is summarized below (in millions):

 

 

Year Ended

 

Statements of

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Income
Classifications

Developed technology

 

$

11

 

 

$

28

 

 

$

34

 

Cost of revenues

Customer contracts/relationships

 

 

10

 

 

 

19

 

 

 

22

 

Operating expenses

Other purchased intangibles

 

 

 

 

 

 

 

 

1

 

Operating expenses

Total

 

$

21

 

 

$

47

 

 

$

57

 

 

As of April 24, 2026, future amortization expense related to purchased intangible assets is as follows (in millions):

Fiscal Year

 

Amount

 

2027

 

$

21

 

2028

 

 

1

 

Total

 

$

22

 

v3.26.1
Supplemental Financial Information
12 Months Ended
Apr. 24, 2026
Supplemental Financial Information [Abstract]  
Supplemental Financial Information

5. Supplemental Financial Information

Cash and cash equivalents (in millions):

The following table presents cash and cash equivalents as reported in our consolidated balance sheets, as well as the sum of cash, cash equivalents and restricted cash as reported on our consolidated statements of cash flows:

 

 

April 24, 2026

 

 

April 25, 2025

 

Cash and cash equivalents

 

$

2,070

 

 

$

2,742

 

Restricted cash

 

 

5

 

 

 

7

 

Cash, cash equivalents and restricted cash

 

$

2,075

 

 

$

2,749

 

 

Inventories (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Purchased components

 

$

14

 

 

$

81

 

Finished goods

 

 

184

 

 

 

105

 

Inventories

 

$

198

 

 

$

186

 

Property and equipment, net (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Land

 

$

46

 

 

$

46

 

Buildings and improvements

 

 

377

 

 

 

374

 

Leasehold improvements

 

 

114

 

 

 

103

 

Computer, production, engineering and other equipment

 

 

1,264

 

 

 

1,172

 

Computer software

 

 

66

 

 

 

329

 

Furniture and fixtures

 

 

61

 

 

 

62

 

Construction-in-progress

 

 

58

 

 

 

49

 

 

 

 

1,986

 

 

 

2,135

 

Accumulated depreciation and amortization

 

 

(1,394

)

 

 

(1,572

)

Property and equipment, net

 

$

592

 

 

$

563

 

 

Depreciation and amortization expense related to property and equipment, net is summarized below (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Depreciation and amortization expense

 

$

179

 

 

$

196

 

 

$

198

 

Other non-current assets (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Deferred tax assets

 

$

859

 

 

$

994

 

Operating lease right-of-use (ROU) assets

 

 

228

 

 

 

241

 

Other assets

 

 

495

 

 

 

408

 

Other non-current assets

 

$

1,582

 

 

$

1,643

 

Other non-current assets as of April 24, 2026 and April 25, 2025 include $98 million and $92 million, respectively, for our 49% non-controlling equity interest in Lenovo NetApp Technology Limited (LNTL), a China-based entity that we formed with Lenovo (Beijing) Information Technology Ltd. in fiscal 2019. LNTL is integral to our sales channel strategy in China, acting as a distributor of

our offerings to customers headquartered there, and involved in certain OEM sales to Lenovo. LNTL is also focused on localizing our products and services, and developing new joint offerings for the China market by leveraging NetApp and Lenovo technologies.

Accrued expenses (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Accrued compensation and benefits

 

$

543

 

 

$

513

 

Income tax payable

 

 

29

 

 

 

146

 

Operating lease liabilities

 

 

42

 

 

 

40

 

Other current liabilities

 

 

537

 

 

 

423

 

Accrued expenses

 

$

1,151

 

 

$

1,122

 

Other long-term liabilities (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Liability for uncertain tax positions

 

$

38

 

 

$

45

 

Operating lease liabilities

 

 

204

 

 

 

216

 

Other liabilities

 

 

118

 

 

 

118

 

Other long-term liabilities

 

$

360

 

 

$

379

 

 

Deferred revenue

Deferred revenue represents unrecognized revenue related to undelivered product commitments and other product deliveries that have not met all revenue recognition criteria, as well as customer payments made in advance for services, which include software and hardware support contracts, certain public cloud services and other services.

During the years ended April 24, 2026 and April 25, 2025, we recognized revenue of $2,279 million and $2,176 million, respectively, that was included in the deferred revenue balance at the beginning of the respective periods.

Remaining performance obligations

As of April 24, 2026, the aggregate amount of the transaction price allocated to the remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied was $5.7 billion. Because customer orders are typically placed on an as-needed basis, and cancellable without penalty prior to shipment, orders in backlog may not be a meaningful indicator of future revenue and have not been included in this amount. We expect to recognize as revenue 45% of our remaining performance obligations in the next 12 months and the remainder thereafter.

Deferred commissions

The following table summarizes deferred commissions balances as reported in our consolidated balance sheets (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Other current assets

 

$

117

 

 

$

64

 

Other non-current assets

 

 

152

 

 

 

104

 

Total deferred commissions

 

$

269

 

 

$

168

 

During the years ended April 24, 2026 and April 25, 2025, we recognized amortization expense from deferred commissions of $106 million and $123 million, respectively, and there were no impairment charges recognized.

Other (expense) income, net (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Interest income

 

$

113

 

 

$

112

 

 

$

112

 

Interest expense

 

 

(109

)

 

 

(64

)

 

 

(64

)

Other, net

 

 

(30

)

 

 

(2

)

 

 

1

 

Total other (expense) income, net

 

$

(26

)

 

$

46

 

 

$

49

 

 

Statements of cash flows additional information (in millions):

 

Supplemental cash flow information related to our operating leases is included in Note 8 – Leases. Non-cash investing activities and other supplemental cash flow information are presented below:

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Non-cash Investing Activities:

 

 

 

 

 

 

 

 

 

Capital expenditures incurred but not paid

 

$

20

 

 

$

14

 

 

$

16

 

Supplemental Cash Flow Information:

 

 

 

 

 

 

 

 

 

Income taxes paid, net of refunds

 

$

435

 

 

$

412

 

 

$

357

 

Interest paid

 

$

109

 

 

$

53

 

 

$

59

 

 

Gains/losses on the sale or derecognition of assets

During fiscal 2025, we completed the sale of our cloud optimization and management software business known as Spot by NetApp to Flexera Software LLC. Total sale consideration consisted of (i) $70 million in up-front cash consideration and (ii) up to $49 million in cash consideration contingent upon the achievement of certain financial performance metrics during the period from January 1, 2025 through December 31, 2025. We received the up-front cash consideration, recognized $20 million for contingent consideration in other current assets, derecognized the assets and liabilities conveyed to Flexera, and recorded certain transaction costs. No material gain or loss was recorded to our consolidated statements of income.

The major classes of assets and liabilities derecognized were (in millions):

 

 

Amount

 

Assets:

 

 

 

Property and equipment, net

 

$

13

 

Goodwill

 

 

36

 

Purchased intangible assets, net

 

 

34

 

Total Assets

 

 

83

 

Liabilities:

 

 

 

Short-term deferred revenue

 

 

1

 

During fiscal 2026, based on achievement of certain financial performance metrics, we recognized an additional $11 million of contingent consideration in other current assets and a corresponding gain to our consolidated statements of income. We expect to receive the cash from the contingent consideration during fiscal 2027.

Financing Transactions

While most of our arrangements for sales include short-term payment terms, from time to time we provide long-term financing to creditworthy customers. We have generally sold receivables financed through these arrangements on a non-recourse basis to third-party financing institutions within 10 days of the contracts’ dates of execution, and we classify the proceeds from these sales as cash flows from operating activities in our consolidated statements of cash flows. We account for the sales of these receivables as “true sales” as defined in the accounting standards on transfers of financial assets, as we are considered to have surrendered control of these financing receivables. Provided all other revenue recognition criteria have been met, we recognize product revenues for these arrangements, net of any payment discounts from financing transactions, upon product acceptance. We sold $28 million, $65 million and $67 million of receivables during fiscal 2026, 2025 and 2024, respectively.

v3.26.1
Financial Instruments and Fair Value Measurements
12 Months Ended
Apr. 24, 2026
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments and Fair Value Measurements

6. Financial Instruments and Fair Value Measurements

The accounting guidance for fair value measurements provides a framework for measuring fair value on either a recurring or nonrecurring basis, whereby the inputs used in valuation techniques are assigned a hierarchical level. The following are the three levels of inputs to measure fair value:

Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2: Inputs that reflect quoted prices for identical assets or liabilities in less active markets; quoted prices for similar assets or liabilities in active markets; benchmark yields, reported trades, broker/dealer quotes, inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3: Unobservable inputs that reflect our own assumptions incorporated in valuation techniques used to measure fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.

We consider an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and consider an inactive market to be one in which there are infrequent or few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, our own or the counterparty’s non-performance risk is considered in measuring the fair values of liabilities and assets, respectively.

Investments

The following is a summary of our investments at their cost or amortized cost as of April 24, 2026 and April 25, 2025 (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

U.S. Treasury and government debt securities

 

$

2,112

 

 

$

2,025

 

Money market funds

 

 

808

 

 

 

1,126

 

Certificates of deposit

 

 

86

 

 

 

24

 

Mutual funds

 

 

49

 

 

 

41

 

Total debt and equity securities

 

$

3,055

 

 

$

3,216

 

The fair value of our investments approximates their cost or amortized cost for both periods presented. Investments in mutual funds relate to the non-qualified deferred compensation plan offered to certain employees.

As of April 24, 2026, all our debt investments are due to mature in one year or less.

Fair Value of Financial Instruments

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis (in millions):

 

 

April 24, 2026

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Cash

 

$

578

 

 

$

578

 

 

$

 

Money market funds

 

 

808

 

 

 

808

 

 

 

 

Certificates of deposit

 

 

86

 

 

 

 

 

 

86

 

U.S. Treasury and government debt securities

 

 

598

 

 

 

598

 

 

 

 

Total cash and cash equivalents

 

 

2,070

 

 

 

1,984

 

 

 

86

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury and government debt securities

 

 

1,514

 

 

 

1,514

 

 

 

 

Total short-term investments

 

 

1,514

 

 

 

1,514

 

 

 

 

Total cash, cash equivalents and short-term investments

 

$

3,584

 

 

$

3,498

 

 

$

86

 

Other items:

 

 

 

 

 

 

 

 

 

Mutual funds (1)

 

$

9

 

 

$

9

 

 

$

 

Mutual funds (2)

 

$

40

 

 

$

40

 

 

$

 

Foreign currency exchange contracts assets (1)

 

$

10

 

 

$

 

 

$

10

 

Foreign currency exchange contracts liabilities (3)

 

$

(1

)

 

$

 

 

$

(1

)

 

 

 

 

April 25, 2025

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Cash

 

$

671

 

 

$

671

 

 

$

 

Money market funds

 

 

1,126

 

 

 

1,126

 

 

 

 

Certificates of deposit

 

 

24

 

 

 

 

 

 

24

 

U.S. Treasury and government debt securities

 

 

921

 

 

 

921

 

 

 

 

Total cash and cash equivalents

 

 

2,742

 

 

 

2,718

 

 

 

24

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury and government debt securities

 

 

1,104

 

 

 

1,104

 

 

 

 

Total short-term investments

 

 

1,104

 

 

 

1,104

 

 

 

 

Total cash, cash equivalents and short-term investments

 

$

3,846

 

 

$

3,822

 

 

$

24

 

Other items:

 

 

 

 

 

 

 

 

 

Mutual funds (1)

 

$

7

 

 

$

7

 

 

$

 

Mutual funds (2)

 

$

34

 

 

$

34

 

 

$

 

Foreign currency exchange contracts assets (1)

 

$

29

 

 

$

 

 

$

29

 

Foreign currency exchange contracts liabilities (3)

 

$

(2

)

 

$

 

 

$

(2

)

(1)
Reported as other current assets in the consolidated balance sheets
(2)
Reported as other non-current assets in the consolidated balance sheets
(3)
Reported as accrued expenses in the consolidated balance sheets

 

Our Level 2 debt instruments are held by a custodian who prices some of the investments using standard inputs in various asset price models or obtains investment prices from third-party pricing providers that incorporate standard inputs in various asset price models. These pricing providers utilize the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, use other observable inputs like market transactions involving identical or comparable securities. We review Level 2 inputs and fair value for reasonableness and the values may be further validated by comparison to multiple independent pricing sources. In addition, we review third-party pricing provider models, key inputs and assumptions and understand the pricing processes at our third-party providers in determining the overall reasonableness of the fair value of our Level 2 debt instruments. As of April 24, 2026 and April 25, 2025, we have not made any adjustments to the prices obtained from our third-party pricing providers.

Fair Value of Debt

As of April 24, 2026 and April 25, 2025, the fair value of our long-term debt, including the current portion, was $2,468 million and $3,143 million, respectively. These fair values of our long-term debt were based on observable market prices in a less active market.

v3.26.1
Financing Arrangements
12 Months Ended
Apr. 24, 2026
Debt Disclosure [Abstract]  
Financing Arrangements

7. Financing Arrangements

Long-Term Debt

The following table summarizes information relating to our long-term debt, which we collectively refer to as our Senior Notes (in millions, except interest rates):

 

 

Effective Interest Rate

 

April 24, 2026

 

 

April 25, 2025

 

1.875% Senior Notes Due June 2025

 

2.03%

 

$

 

 

$

750

 

2.375% Senior Notes Due June 2027

 

2.51%

 

 

550

 

 

 

550

 

2.70% Senior Notes Due June 2030

 

2.81%

 

 

700

 

 

 

700

 

5.50% Senior Notes Due March 2032

 

5.71%

 

 

625

 

 

 

625

 

5.70% Senior Notes Due March 2035

 

5.90%

 

 

625

 

 

 

625

 

Total principal amount

 

 

 

 

2,500

 

 

 

3,250

 

Unamortized discount and issuance costs

 

 

 

 

(13

)

 

 

(15

)

Total senior notes

 

 

 

 

2,487

 

 

 

3,235

 

Less: Current portion of long-term debt

 

 

 

 

 

 

 

(750

)

Total long-term debt

 

 

 

$

2,487

 

 

$

2,485

 

 

Senior Notes

On June 23, 2025, upon maturity, we repaid the 1.875% Senior Notes due June 2025 for an aggregate amount of $757 million, comprised of the principal and unpaid interest.

In March 2025, we issued $625 million aggregate principal amount of 5.50% Senior Notes due 2032 and $625 million aggregate principal amount of 5.70% Senior Notes due 2035, for which we received total proceeds of $1.24 billion, net of discount and issuance costs.

Our Senior Notes, which are unsecured, unsubordinated obligations, rank equally in right of payment with any existing and future senior unsecured indebtedness. Interest on our Senior Notes is payable semi-annually.

We may redeem the Senior Notes in whole or in part, at any time at our option at specified redemption prices. In addition, upon the occurrence of certain change of control triggering events, we may be required to repurchase the Senior Notes under specified terms. The Senior Notes also include covenants that limit our ability to incur debt secured by liens on assets or on shares of stock or indebtedness of our subsidiaries; to engage in certain sale and lease-back transactions; and to consolidate, merge or sell all or substantially all of our assets. As of April 24, 2026, we were in compliance with all covenants associated with the Senior Notes.

As of April 24, 2026, our aggregate future principal debt maturities are as follows (in millions):

Fiscal Year

 

Amount

 

2027

 

$

 

2028

 

 

550

 

2029

 

 

 

2030

 

 

 

2031

 

 

700

 

Thereafter

 

 

1,250

 

Total

 

$

2,500

 

Credit Facility and Commercial Paper Program

We have a senior unsecured credit agreement with a syndicated group of lenders. The credit agreement, which was amended in March 2025, provides for a $1.0 billion revolving unsecured credit facility, with a sublimit of $50 million available for the issuance of letters of credit on our behalf. The credit facility matures on March 5, 2030, with an option for us to extend the maturity date for two additional 1-year periods, subject to certain conditions. The proceeds of the loans may be used by us for general corporate purposes and as liquidity support for our existing commercial paper program. As of April 24, 2026, we were compliant with all associated covenants in the agreement. No amounts were drawn against this credit facility during any of the periods presented.

We also have a commercial paper program (the “Program”), under which we may issue unsecured commercial paper notes. Amounts available under the Program, as amended in July 2017, may be borrowed, repaid and re-borrowed, with the aggregate face or principal amount of the notes outstanding under the Program at any time not to exceed $1.0 billion. The maturities of the notes can vary, but may not exceed 397 days from the date of issue. The notes are sold under customary terms in the commercial paper market and may be issued at a discount from par or, alternatively, may be sold at par and bear interest at rates dictated by market conditions at the time of their issuance. The proceeds from the issuance of the notes are used for general corporate purposes. There were no commercial paper notes outstanding as of April 24, 2026 or April 25, 2025.

v3.26.1
Leases
12 Months Ended
Apr. 24, 2026
Leases [Abstract]  
Leases

8. Leases

 

We lease real estate, equipment and automobiles in the U.S. and internationally. Our real estate leases, which are responsible for the majority of our aggregate ROU asset and liability balances, include leases for office space, data centers and other facilities, and as of April 24, 2026, have remaining lease terms not exceeding 16 years. Some of these leases contain options that allow us to extend or terminate the lease agreement. Our equipment leases are primarily for servers and networking equipment and as of April 24, 2026, have remaining lease terms not exceeding 3 years. As of April 24, 2026, our automobile leases have remaining lease terms not exceeding 4 years. All our leases are classified as operating leases except for certain immaterial equipment finance leases.

 

The components of lease cost related to our operating leases were as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Operating lease cost

 

$

52

 

 

$

51

 

Variable lease cost

 

 

15

 

 

 

15

 

Total lease cost

 

$

67

 

 

$

66

 

 

Variable lease cost is primarily attributable to amounts paid to lessors for common area maintenance and utility charges under our real estate leases.

 

The supplemental cash flow information related to our operating leases is as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

49

 

 

$

48

 

ROU assets obtained in exchange for new operating lease obligations

 

$

29

 

 

$

25

 

 

The supplemental balance sheet information related to our operating leases is as follows (in millions, except lease term and discount rate):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Other non-current assets

 

$

228

 

 

$

241

 

Total operating lease ROU assets

 

$

228

 

 

$

241

 

 

 

 

 

 

 

 

Accrued expenses

 

$

42

 

 

$

40

 

Other long-term liabilities

 

 

204

 

 

 

216

 

Total operating lease liabilities

 

$

246

 

 

$

256

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

7.7 years

 

 

8.5 years

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

3.5

%

 

 

3.4

%

Future minimum operating lease payments as of April 24, 2026 are as follows (in millions):

 

Fiscal Year

 

 

 

Amount

 

2027

 

 

 

$

47

 

2028

 

 

 

 

43

 

2029

 

 

 

 

38

 

2030

 

 

 

 

32

 

2031

 

 

 

 

30

 

Thereafter

 

 

 

 

93

 

Total lease payments

 

 

 

 

283

 

Less: Interest

 

 

 

 

(37

)

Total

 

 

 

$

246

 

v3.26.1
Stockholders' Equity
12 Months Ended
Apr. 24, 2026
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity

9. Stockholders’ Equity

Equity Incentive Programs

The 2021 Plan — The 2021 Equity Incentive Plan (the 2021 Plan) was adopted by our Board of Directors and approved by the stockholders on September 10, 2021. The 2021 Plan provides for the granting of restricted stock, restricted stock units, performance awards, incentive stock options, nonstatutory stock options, and stock appreciation rights to our employees, directors, consultants and independent advisors.

Under the 2021 Plan, the Board of Directors may grant RSUs which include time-based RSUs that generally vest over a four-year period with 25% vesting on the first anniversary of the grant date and 6.25% vesting quarterly thereafter. In addition, performance-based RSUs are granted under the 2021 Plan and are subject to performance criteria and vesting terms specified by the Compensation Committee.

During fiscal 2026, the shares reserved for issuance under the Plan were increased by 5 million shares of common stock. As of April 24, 2026, 14 million shares were available for grant under the 2021 Plan.

Restricted Stock Units

In fiscal 2026, 2025 and 2024, we granted PBRSUs to certain of our executives. Each PBRSU has performance-based vesting criteria (in addition to the service-based vesting criteria) such that the PBRSUs cliff-vest at the end of a three year performance period, which began on the date specified in the grant agreements and typically ends on the last day of the third fiscal year, following the grant date. The number of shares that will be used to calculate the settlement amount for all of these PBRSUs at the end of the applicable performance and service period will range from 0% to 200% of a target number of shares originally granted. For half of the PBRSUs granted in fiscal 2026, 2025 and 2024, the number of shares used to calculate the settlement amount will depend upon our Total Stockholder Return (TSR) as compared to the TSR of a specified group of benchmark peer companies (each expressed as a growth rate percentage) calculated as of the end of the performance period. For the remaining half of the PBRSUs granted, the number of shares used to calculate the settlement amount will depend upon the Company's billings result average over the three-year performance period. The billings result average is computed based on achievement against annual billings targets, with each target set at the beginning of the respective fiscal year, during the three-year performance period. Billings, for purposes of measuring the performance of these PBRSUs, means the total obtained by adding net revenues as reported on the Company's consolidated statements of income to the amount reported as the change in deferred revenue on the consolidated statements of cash flows for the applicable measurement period, excluding the impact of fluctuations in foreign currency exchange rates. The aggregate grant date fair value of all PBRSUs granted in fiscal 2026, 2025 and 2024 was $64 million, $67 million and $39 million, respectively, and these amounts are being recognized to compensation expense over the remaining performance/service periods.

As of April 24, 2026, April 25, 2025 and April 26, 2024, there were approximately 1 million PBRSUs outstanding.

The following table summarizes information related to RSUs, including PBRSUs (in millions, except for fair value):

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Outstanding as of April 28, 2023

 

 

12

 

 

$

62.08

 

Granted

 

 

5

 

 

$

76.46

 

Vested

 

 

(5

)

 

$

59.32

 

Forfeited

 

 

(1

)

 

$

65.17

 

Outstanding as of April 26, 2024

 

 

11

 

 

$

68.87

 

Granted

 

 

4

 

 

$

123.45

 

Vested

 

 

(5

)

 

$

72.07

 

Forfeited

 

 

(2

)

 

$

78.21

 

Outstanding as of April 25, 2025

 

 

8

 

 

$

91.30

 

Granted

 

 

5

 

 

$

104.74

 

Vested

 

 

(4

)

 

$

86.44

 

Forfeited

 

 

(1

)

 

$

89.27

 

Outstanding as of April 24, 2026

 

 

8

 

 

$

101.15

 

 

We primarily use the net share settlement approach upon vesting, where a portion of the shares are withheld as settlement of employee withholding taxes, which decreases the shares issued to the employee by a corresponding value. The number and value of the shares netted for employee taxes are summarized in the table below (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Shares withheld for taxes

 

 

1

 

 

 

2

 

 

 

2

 

Fair value of shares withheld

 

$

137

 

 

$

199

 

 

$

128

 

Employee Stock Purchase Plan

Eligible employees are offered shares through a 24-month offering period, which consists of four consecutive 6-month purchase periods. Employees may purchase a limited number of shares of the Company’s stock at a discount of up to 15% of the lesser of the market value at the beginning of the offering period or the end of each 6-month purchase period. During fiscal 2026, the ESPP was amended to increase the shares reserved for issuance by 4 million shares of common stock. As of April 24, 2026, 5 million shares were available for issuance. The following table summarizes activity related to the purchase rights issued under the ESPP (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Shares issued under the ESPP

 

 

1

 

 

 

2

 

Proceeds from issuance of shares

 

$

103

 

 

$

108

 

 

Stock-Based Compensation Expense

Stock-based compensation expense is included in the consolidated statements of income as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Cost of product revenues

 

$

6

 

 

$

6

 

 

$

6

 

Cost of services revenues

 

 

22

 

 

 

24

 

 

 

23

 

Sales and marketing

 

 

155

 

 

 

162

 

 

 

143

 

Research and development

 

 

126

 

 

 

135

 

 

 

132

 

General and administrative

 

 

73

 

 

 

59

 

 

 

53

 

Total stock-based compensation expense

 

$

382

 

 

$

386

 

 

$

357

 

As of April 24, 2026, total unrecognized compensation expense related to our equity awards was $639 million, which is expected to be recognized on a straight-line basis over a weighted-average remaining service period of 2.2 years.

Valuation Assumptions

The valuation of RSUs and ESPP purchase rights and the underlying weighted-average assumptions are summarized as follows:

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

RSUs:

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

3.8

%

 

 

4.6

%

 

 

4.9

%

Expected dividend yield

 

 

2.0

%

 

 

1.8

%

 

 

2.6

%

Weighted-average fair value per share granted

 

$

104.74

 

 

$

123.45

 

 

$

76.46

 

 

 

 

 

 

 

 

 

 

 

ESPP:

 

 

 

 

 

 

 

 

 

Expected term in years

 

 

1.2

 

 

 

1.2

 

 

 

1.2

 

Risk-free interest rate

 

 

4.1

%

 

 

5.2

%

 

 

4.9

%

Expected volatility

 

 

36

%

 

 

31

%

 

 

30

%

Expected dividend yield

 

 

2.1

%

 

 

1.7

%

 

 

2.8

%

Weighted-average fair value per right granted

 

$

26.42

 

 

$

29.70

 

 

$

17.37

 

 

Stock Repurchase Program

Under our common stock repurchase program, which we may suspend or discontinue at any time, we may purchase shares of our outstanding common stock through solicited or unsolicited transactions in the open market, in privately negotiated transactions, through accelerated share repurchase programs, pursuant to a Rule 10b5-1 plan or in such other manner as deemed appropriate by our management.

The following table summarizes activity related to the stock repurchase program (in millions, except for per share amounts):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Number of shares repurchased

 

 

9.0

 

 

 

10.2

 

 

 

11.5

 

Average price per share

 

$

105.89

 

 

$

112.55

 

 

$

77.87

 

Stock repurchases allocated to additional paid-in capital

 

$

98

 

 

$

50

 

 

$

102

 

Stock repurchases allocated to retained earnings

 

$

852

 

 

$

1,100

 

 

$

798

 

Remaining authorization at end of period

 

$

502

 

 

$

352

 

 

$

502

 

On May 21, 2026, our Board of Directors authorized the repurchase of an additional $1.0 billion of our common stock.

Preferred Stock

Our Board of Directors has the authority to issue up to 5 million shares of preferred stock and to determine the price, rights, preferences, privileges, and restrictions, including voting rights, of those shares without any further vote or action by the stockholders. No shares of preferred stock were issued or outstanding in any period presented.

Dividends

The following is a summary of our activities related to dividends on our common stock (in millions, except per share amounts).

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Dividends per share declared

 

$

2.08

 

 

$

2.08

 

 

$

2.00

 

Dividend payments allocated to additional paid-in capital

 

$

142

 

 

$

130

 

 

$

171

 

Dividend payments allocated to retained earnings

 

$

271

 

 

$

294

 

 

$

245

 

On May 21, 2026, we declared a cash dividend of $0.52 per share of common stock, payable on July 29, 2026 to shareholders of record as of the close of business on July 10, 2026. The timing and amount of future dividends will depend on market conditions, corporate business and financial considerations and regulatory requirements. All dividends declared have been determined by the Company to be legally authorized under the laws of the state in which we are incorporated.

v3.26.1
Derivatives and Hedging Activities
12 Months Ended
Apr. 24, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging Activities

10. Derivatives and Hedging Activities

We use derivative instruments to manage exposures to foreign currency risk. Our primary objective in holding derivatives is to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. The maximum length of time over which forecasted foreign currency denominated revenues are hedged is 12 months. The program is not designated for trading or speculative purposes. Our derivatives expose us to credit risk to the extent that the counterparties may be unable to meet their obligations under the terms of our agreements. We seek to mitigate such risk by limiting our counterparties to major financial institutions. In addition, the potential risk of loss with any one counterparty resulting from this type of credit risk is monitored on an ongoing basis. We also have in place master netting arrangements to mitigate the credit risk of our counterparties and to potentially reduce our losses due to counterparty nonperformance. We present our derivative instruments as net amounts in our consolidated balance sheets. The gross and net fair value amounts of such instruments were not material as of April 24, 2026 or April 25, 2025. All contracts have a maturity of less than 12 months.

The notional amount of our outstanding U.S. dollar equivalent foreign currency exchange forward contracts consisted of the following (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Cash Flow Hedges

 

 

 

 

 

 

Forward contracts purchased

 

$

75

 

 

$

81

 

Balance Sheet Contracts

 

 

 

 

 

 

Forward contracts sold

 

$

995

 

 

$

790

 

Forward contracts purchased

 

$

13

 

 

$

 

The effect of cash flow hedges recognized in net revenues is presented in the consolidated statements of comprehensive income.

The effect of derivative instruments not designated as hedging instruments recognized in other (expense) income, net on our consolidated statements of income was as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

 

 

Gain (Loss) Recognized into Income

 

Foreign currency exchange contracts

 

$

(15

)

 

$

38

 

 

$

(59

)

v3.26.1
Restructuring Charges
12 Months Ended
Apr. 24, 2026
Restructuring and Related Activities [Abstract]  
Restructuring Charges

11. Restructuring Charges

In fiscal 2026, management approved a restructuring plan to redirect resources to the highest return activities and reduce costs. Charges related to the plan consisted primarily of employee severance-related costs. The activities under this plan were substantially complete by the end of fiscal 2026.

In fiscal 2025, management approved restructuring plans to redirect resources to the highest return activities and reduce costs. Charges related to the plans consisted primarily of employee severance-related costs and lease termination charges. One of the plans related to the sale of our cloud optimization and management software business known as Spot by NetApp. The activities under these plans were substantially complete by the end of fiscal 2025.

In fiscal 2024, management approved restructuring plans to redirect resources to the highest return activities and reduce costs. Charges related to the plans consisted primarily of employee severance-related costs. One of the plans also included termination of certain real estate leases in various countries, resulting in lease termination charges. The activities under these plans were substantially complete by the end of fiscal 2024.

Activities related to our restructuring plans are summarized as follows (in millions):

 

 

Total

 

Balance as of April 28, 2023

 

$

36

 

Net charges

 

 

44

 

Cash payments

 

 

(70

)

Balance as of April 26, 2024

 

 

10

 

Net charges

 

 

83

 

Cash payments

 

 

(42

)

Balance as of April 25, 2025

 

 

51

 

Net charges

 

 

21

 

Cash payments

 

 

(66

)

Balance as of April 24, 2026

 

$

6

 

 

Liabilities for our restructuring activities are included in accrued expenses in our consolidated balance sheets.

v3.26.1
Income Taxes
12 Months Ended
Apr. 24, 2026
Income Tax Disclosure [Abstract]  
Income Taxes

12. Income Taxes

Income before income taxes is as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Domestic

 

$

718

 

 

$

606

 

 

$

472

 

Foreign

 

 

930

 

 

 

777

 

 

 

791

 

Total

 

$

1,648

 

 

$

1,383

 

 

$

1,263

 

The provision for income taxes consists of the following (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

83

 

 

$

131

 

 

$

89

 

State

 

 

24

 

 

 

38

 

 

 

25

 

Foreign

 

 

130

 

 

 

128

 

 

 

110

 

Total current

 

 

237

 

 

 

297

 

 

 

224

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

82

 

 

 

(102

)

 

 

24

 

State

 

 

12

 

 

 

(16

)

 

 

6

 

Foreign

 

 

41

 

 

 

18

 

 

 

23

 

Total deferred

 

 

135

 

 

 

(100

)

 

 

53

 

Provision for income taxes

 

$

372

 

 

$

197

 

 

$

277

 

 

During the fourth quarter of fiscal 2025, the Internal Revenue Service (“IRS”) substantially completed the examination of our fiscal 2018 and fiscal 2019 U.S. income tax returns, and we recognized a tax benefit of $36 million attributable to the release of related tax reserves.

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate, in accordance with the guidance in ASU 2023-09, as follows (in millions, except percentages):

 

 

 

Year Ended April 24, 2026

 

 

 

Tax Effect

 

 

Rate Impact

 

Tax computed at federal statutory rate

 

$

346

 

 

 

21.0

%

State and local income taxes, net of federal benefit (1)

 

 

30

 

 

 

1.8

%

Foreign tax effects:

 

 

 

 

 

 

Ireland

 

 

 

 

 

 

Statutory tax rate difference between Ireland and U.S.

 

 

(44

)

 

 

(2.7

)%

Ireland earnings taxed at rates other than statutory

 

 

14

 

 

 

0.8

%

Other

 

 

3

 

 

 

0.2

%

Cyprus

 

 

 

 

 

 

Statutory tax rate difference between Cyprus and U.S.

 

 

(15

)

 

 

(0.9

)%

Deduction for qualifying capital

 

 

(21

)

 

 

(1.3

)%

Other

 

 

1

 

 

 

0.1

%

Other foreign jurisdictions

 

 

36

 

 

 

2.2

%

Federal:

 

 

 

 

 

 

Effect of cross-border tax laws

 

 

 

 

 

 

Foreign earnings inclusion, net of credits

 

 

34

 

 

 

2.1

%

Subpart F income, net of credits

 

 

9

 

 

 

0.5

%

Tax credits

 

 

 

 

 

 

Research and development credits

 

 

(24

)

 

 

(1.4

)%

Nontaxable or nondeductible items

 

 

2

 

 

 

0.1

%

Changes in unrecognized tax benefits

 

 

3

 

 

 

0.2

%

Other

 

 

(2

)

 

 

(0.1

)%

Provision for income taxes

 

$

372

 

 

 

22.6

%

Percentages may not add due to rounding

 

(1)
State taxes in Illinois, New Jersey, New York, Oregon, and Virginia make up the majority (greater than 50%) of this category.

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate, in accordance with the guidance prior to adoption of ASU 2023-09, as follows (in millions):

 

 

Year Ended

 

 

 

April 25, 2025

 

 

April 26, 2024

 

Tax computed at federal statutory rate

 

$

290

 

 

$

265

 

State income taxes, net of federal benefit

 

 

14

 

 

 

22

 

Foreign earnings in lower tax jurisdictions

 

 

(14

)

 

 

(40

)

Stock-based compensation

 

 

(21

)

 

 

12

 

Research and development credits

 

 

(31

)

 

 

(22

)

Benefit for foreign derived intangible income

 

 

(28

)

 

 

 

Global minimum tax on intangible income

 

 

12

 

 

 

46

 

Tax charges (benefits) from integration of acquired companies

 

 

1

 

 

 

4

 

Resolution of income tax matters (1)

 

 

(39

)

 

 

(4

)

Other

 

 

13

 

 

 

(6

)

Provision for income taxes

 

$

197

 

 

$

277

 

 

(1)
During fiscal 2025, we recognized a tax benefit related to the IRS examination of our fiscal 2018 and fiscal 2019 U.S. income tax returns. During fiscal 2024, we recognized a tax benefit related to the lapse of statute of limitations for certain issues in our fiscal 2020 U.S. tax returns.

The components of our deferred tax assets and liabilities are as follows (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Deferred tax assets:

 

 

 

 

 

 

Reserves and accruals

 

$

114

 

 

$

188

 

Net operating loss and credit carryforwards

 

 

145

 

 

 

138

 

Stock-based compensation

 

 

25

 

 

 

25

 

Deferred revenue

 

 

267

 

 

 

250

 

Acquired intangibles

 

 

441

 

 

 

483

 

Capitalized research and development (1)

 

 

182

 

 

 

198

 

Other

 

 

6

 

 

 

6

 

Gross deferred tax assets

 

 

1,180

 

 

 

1,288

 

Valuation allowance

 

 

(123

)

 

 

(119

)

Deferred tax assets, net of valuation allowance

 

 

1,057

 

 

 

1,169

 

Deferred tax liabilities:

 

 

 

 

 

 

Prepaids and accruals

 

 

104

 

 

 

87

 

Acquired intangibles

 

 

89

 

 

 

84

 

Property and equipment

 

 

33

 

 

 

26

 

Other

 

 

2

 

 

 

6

 

Total deferred tax liabilities

 

 

228

 

 

 

203

 

Deferred tax assets, net of valuation allowance and deferred tax liabilities

 

$

829

 

 

$

966

 

 

(1)
As required under the Tax Cuts and Jobs Act of 2017, research and development expenditures were capitalized and amortized beginning in our fiscal 2023. Effective for fiscal 2026, we are expensing research and development expenditures as permitted by the One Big Beautiful Bill Act (OBBB).

The valuation allowance increased by $4 million in fiscal 2026. The increase is mainly attributable to corresponding changes in deferred tax assets, primarily certain foreign tax credit carryforwards.

As of April 24, 2026, we have federal net operating loss carryforwards of $6 million. In addition, we have gross state net operating loss and tax credit carryforwards of $1 million and $143 million, respectively. The majority of the state credit carryforwards are California research credits which are offset by a valuation allowance as we believe it is more likely than not that these credits will not be utilized. We also have $16 million of U.S. foreign tax credit carryforwards and $37 million of foreign tax credit carryforwards of which the majority were generated by our Dutch subsidiary and are fully offset by a valuation allowance. Certain acquired net operating loss carryforwards are subject to an annual limitation under Internal Revenue Code Section 382, but are expected to be realized with the exception of those which have a valuation allowance. The state and foreign net operating loss carryforwards and credits will expire in various years from fiscal 2027 through 2042. The federal net operating loss carryforwards, the California research credit, and the Dutch foreign tax credit carryforwards do not expire.

The following table summarizes income taxes paid (net of refunds) exceeding 5 percent of total income taxes paid (net of refunds) in the following jurisdictions (in millions):

 

 

 

Year Ended April 24, 2026

 

U.S. Federal

 

$

261

 

U.S. States and Local

 

 

29

 

Foreign

 

 

 

Ireland

 

 

51

 

Cyprus

 

 

24

 

Other

 

 

70

 

Total foreign

 

 

145

 

Total income taxes paid (net of refunds)

 

$

435

 

 

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Balance at beginning of period

 

$

68

 

 

$

220

 

 

$

222

 

Additions based on tax positions related to the current year

 

 

7

 

 

 

8

 

 

 

7

 

Additions for tax positions of prior years

 

 

3

 

 

 

4

 

 

 

 

Decreases for tax positions of prior years

 

 

(2

)

 

 

(25

)

 

 

(2

)

Settlements

 

 

(8

)

 

 

(139

)

 

 

(7

)

Balance at end of period

 

$

68

 

 

$

68

 

 

$

220

 

As of April 24, 2026, we had $68 million of gross unrecognized tax benefits, of which $38 million has been recorded in other long-term liabilities and $8 million has been recorded in other current liabilities. Unrecognized tax benefits of $47 million, including penalties, interest and indirect benefits, would affect our provision for income taxes if recognized.

We recognized expense for increases to accrued interest and penalties related to unrecognized tax benefits in the income tax provision of $2 million, $4 million and $11 million, respectively, in fiscal 2026, fiscal 2025 and fiscal 2024. Accrued interest and penalties of $10 million and $8 million were recorded in the consolidated balance sheets as of April 24, 2026 and April 25, 2025, respectively.

On July 4, 2025, the reconciliation bill H.R. 1, referred to as the One Big Beautiful Bill Act (OBBB), was signed into law in the United States. The OBBB contains several changes to corporate taxation including the extension of key provisions of the 2017 Tax Cuts and Jobs Act and modifications to the international tax framework. The legislation has multiple effective dates, with certain provisions effective in our fiscal year 2026 and others phased in through our fiscal year 2027. The OBBB did not have a material impact to our income tax provision for fiscal year 2026.

The Organisation for Economic Co-operation and Development (“OECD”) introduced an international tax framework under Pillar Two that provides for a global minimum tax of 15% for large multinational companies. We are currently subject to Pillar Two rules enacted in certain foreign jurisdictions in which we operate. As of April 24, 2026, Pillar Two taxes did not have an impact on our financial statements, particularly due to the safe harbor relief during the transition period. On January 5, 2026, the OECD issued administrative guidance outlining a framework under which U.S.-parented groups may be excluded from the application of Pillar Two rules through a “side-by-side arrangement.” Each member jurisdiction will need to adopt this guidance into local law, and the timing and manner of adoption may vary. We will continue to monitor U.S. and international legislative developments, including further announcements on the side-by-side arrangement, to assess any potential impacts to our financial statements.

The tax years that remain subject to examination as of April 24, 2026 for our major tax jurisdictions are shown below:

2023 — 2026

 

United States — federal income tax

2020 — 2026

 

United States — state and local income tax

2020 — 2026

 

Australia

2022 — 2026

 

Germany

2007 — 2026

 

India

2019 — 2026

 

The Netherlands

2019 — 2026

 

Canada

2020 — 2026

 

Japan

2020 — 2026

 

Cyprus

2023 — 2026

 

United Kingdom

2024 — 2026

 

France

2019 — 2026

 

Israel

2022 — 2026

 

Ireland

We are currently undergoing various income tax audits in the U.S. and audits in several foreign tax jurisdictions. Transfer pricing calculations are key topics under these audits and are often subject to dispute and appeals.

We continue to monitor the progress of ongoing discussions with tax authorities and the impact, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions. We engage in continuous discussion and negotiation with taxing authorities regarding tax matters in multiple jurisdictions.

As of April 24, 2026, we continue to record a deferred tax liability related to state taxes on unremitted earnings of certain foreign entities as well as a deferred tax liability related to withholding taxes on unremitted earnings of certain foreign entities. We estimate

the unrecognized deferred tax liability related to the earnings we expect to be indefinitely reinvested to be immaterial. We will continue to monitor our plans to indefinitely reinvest undistributed earnings of foreign subsidiaries and will assess the related unrecognized deferred tax liability considering our ongoing projected global cash requirements, tax consequences associated with repatriation and any U.S. or foreign government programs designed to influence remittances.

v3.26.1
Net Income per Share
12 Months Ended
Apr. 24, 2026
Earnings Per Share [Abstract]  
Net Income per Share

13. Net Income per Share

The following is a calculation of basic and diluted net income per share (in millions, except per share amounts):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

1,276

 

 

$

1,186

 

 

$

986

 

Denominator:

 

 

 

 

 

 

 

 

 

Shares used in basic computation

 

 

199

 

 

 

204

 

 

 

208

 

Dilutive impact of employee equity award plans

 

 

2

 

 

 

5

 

 

 

5

 

Shares used in diluted computation

 

 

201

 

 

 

209

 

 

 

213

 

Net Income per Share:

 

 

 

 

 

 

 

 

 

Basic

 

$

6.41

 

 

$

5.81

 

 

$

4.74

 

Diluted

 

$

6.35

 

 

$

5.67

 

 

$

4.63

 

The following table presents the numbers of potential shares of common stock from outstanding employee equity awards that have been excluded from the computation of diluted net income per share, as their inclusion would have had an anti-dilutive effect, for the periods presented (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Employee equity award plans

 

 

1

 

 

 

1

 

 

 

2

 

v3.26.1
Segment, Geographic, and Significant Customer Information
12 Months Ended
Apr. 24, 2026
Segment Reporting [Abstract]  
Segment, Geographic, and Significant Customer Information

14. Segment, Geographic, and Significant Customer Information

Our operations are organized into two segments: Hybrid Cloud and Public Cloud. The two segments are based on the information reviewed by our Chief Operating Decision Maker (CODM), who is the Chief Executive Officer, to evaluate results and allocate resources. The CODM measures performance of each segment based on segment revenue and segment gross profit by comparing actual revenue and gross profit results to historical results and previously forecasted financial information. We do not allocate to our segments certain cost of revenues which we manage at the corporate level. These unallocated costs include stock-based compensation and amortization of intangible assets. We do not allocate assets to our segments.

Hybrid Cloud offers a unified data storage portfolio of storage management and infrastructure solutions that helps customers modernize their data centers. This portfolio accommodates both structured and unstructured data with unified storage optimized for flash, disk, and cloud storage, capable of handling data-intensive workloads and applications. Hybrid Cloud includes software, hardware, and related support, along with professional and other services.

Public Cloud offers a portfolio of products delivered primarily as-a-service, including related support. This portfolio includes cloud storage, data services, and operational services. Public Cloud includes certain reseller arrangements in which the timing of our consideration follows the end user consumption of the reseller services.

Segment Revenues and Gross Profit

Financial information by segment is as follows (in millions):

 

Year Ended April 24, 2026

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

3,194

 

 

$

 

 

$

3,194

 

Support revenues

 

2,636

 

 

 

 

 

 

2,636

 

Professional and other services revenues

 

407

 

 

 

 

 

 

407

 

Public cloud revenues

 

 

 

 

688

 

 

 

688

 

     Net revenues

 

6,237

 

 

 

688

 

 

 

6,925

 

Cost of product revenues

 

1,395

 

 

 

 

 

 

1,395

 

Cost of support revenues

 

198

 

 

 

 

 

 

198

 

Cost of professional and other services revenues

 

281

 

 

 

 

 

 

281

 

Cost of public cloud revenues

 

 

 

 

113

 

 

 

113

 

     Segment cost of revenues

 

1,874

 

 

 

113

 

 

 

1,987

 

         Segment gross profit

$

4,363

 

 

$

575

 

 

$

4,938

 

            Unallocated cost of revenues1

 

 

 

 

 

 

 

(39

)

   Operating expenses

 

 

 

 

 

 

 

(3,225

)

   Other expense, net

 

 

 

 

 

 

 

(26

)

                   Income before income taxes

 

 

 

 

 

 

$

1,648

 

1 Unallocated cost of revenues are composed of $28 million of stock-based compensation expense and $11 million of amortization of intangible assets.

 

 

 

Year Ended April 25, 2025

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

3,040

 

 

$

 

 

$

3,040

 

Support revenues

 

2,512

 

 

 

 

 

 

2,512

 

Professional and other services revenues

 

355

 

 

 

 

 

 

355

 

Public cloud revenues

 

 

 

 

665

 

 

 

665

 

     Net revenues

 

5,907

 

 

 

665

 

 

 

6,572

 

Cost of product revenues

 

1,278

 

 

 

 

 

 

1,278

 

Cost of support revenues

 

197

 

 

 

 

 

 

197

 

Cost of professional and other services revenues

 

261

 

 

 

 

 

 

261

 

Cost of public cloud revenues

 

 

 

 

165

 

 

 

165

 

     Segment cost of revenues

 

1,736

 

 

 

165

 

 

 

1,901

 

         Segment gross profit

$

4,171

 

 

$

500

 

 

$

4,671

 

            Unallocated cost of revenues1

 

 

 

 

 

 

 

(58

)

   Operating expenses

 

 

 

 

 

 

 

(3,276

)

   Other income, net

 

 

 

 

 

 

 

46

 

                   Income before income taxes

 

 

 

 

 

 

$

1,383

 

1 Unallocated cost of revenues are composed of $30 million of stock-based compensation expense and $28 million of amortization of intangible assets.

 

 

 

 

Year Ended April 26, 2024

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

2,849

 

 

$

 

 

$

2,849

 

Support revenues

 

2,488

 

 

 

 

 

 

2,488

 

Professional and other services revenues

 

320

 

 

 

 

 

 

320

 

Public cloud revenues

 

 

 

 

611

 

 

 

611

 

     Net revenues

 

5,657

 

 

 

611

 

 

 

6,268

 

Cost of product revenues

 

1,131

 

 

 

 

 

 

1,131

 

Cost of support revenues

 

195

 

 

 

 

 

 

195

 

Cost of professional and other services revenues

 

243

 

 

 

 

 

 

243

 

Cost of public cloud revenues

 

 

 

 

203

 

 

 

203

 

     Segment cost of revenues

 

1,569

 

 

 

203

 

 

 

1,772

 

         Segment gross profit

$

4,088

 

 

$

408

 

 

$

4,496

 

            Unallocated cost of revenues1

 

 

 

 

 

 

 

(63

)

   Operating expenses

 

 

 

 

 

 

 

(3,219

)

   Other income, net

 

 

 

 

 

 

 

49

 

                   Income before income taxes

 

 

 

 

 

 

$

1,263

 

1 Unallocated cost of revenues are composed of $29 million of stock-based compensation expense and $34 million of amortization of intangible assets.

 

Hybrid Cloud Segment Net Revenues by Storage Category are as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

All-flash revenues

 

$

4,178

 

 

$

3,763

 

 

$

3,262

 

Hybrid-flash and other revenues

 

 

2,059

 

 

 

2,144

 

 

 

2,395

 

Hybrid Cloud segment net revenues

 

$

6,237

 

 

$

5,907

 

 

$

5,657

 

Geographical Revenues and Certain Assets

Revenues summarized by geographic region are as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

United States, Canada and Latin America (Americas)

 

$

3,505

 

 

$

3,347

 

 

$

3,193

 

Europe, Middle East and Africa (EMEA)

 

 

2,358

 

 

 

2,204

 

 

 

2,104

 

Asia Pacific (APAC)

 

 

1,062

 

 

 

1,021

 

 

 

971

 

Net revenues

 

$

6,925

 

 

$

6,572

 

 

$

6,268

 

Americas revenues consist of sales to Americas commercial and U.S. public sector markets. Sales to customers inside the U.S. were $3,293 million, $3,092 million and $2,952 million during fiscal 2026, 2025 and 2024, respectively.

The majority of our assets, excluding cash, cash equivalents, short-term investments and accounts receivable, were attributable to our domestic operations. The following table presents cash, cash equivalents and short-term investments held in the U.S. and internationally in various foreign subsidiaries (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

U.S.

 

$

1,322

 

 

$

1,320

 

International

 

 

2,262

 

 

 

2,526

 

Total

 

$

3,584

 

 

$

3,846

 

With the exception of property and equipment, we do not identify or allocate our long-lived assets by geographic area. The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

U.S.

 

$

373

 

 

$

344

 

International

 

 

219

 

 

 

219

 

Total

 

$

592

 

 

$

563

 

 

 

Significant Customers

Two customers, each of which is a distributor, accounted for 10% or more of our net revenues:

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Customer A

 

 

22

%

 

 

21

%

 

 

22

%

Customer B

 

 

21

%

 

 

24

%

 

 

22

%

Two customers, each of which is a distributor, accounted for 10% or more of accounts receivable:

 

 

April 24, 2026

 

 

April 25, 2025

 

Customer A

 

*

 

 

 

10

%

Customer B

 

 

18

%

 

 

27

%

    * Customer accounted for less than 10% of accounts receivable.

 

v3.26.1
Employee Benefits and Deferred Compensation
12 Months Ended
Apr. 24, 2026
Retirement Benefits [Abstract]  
Employee Benefits and Deferred Compensation

15. Employee Benefits and Deferred Compensation

Employee 401(k) Plan

Our 401(k) Plan is a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Under the 401(k) Plan, participating U.S. employees may defer a portion of their pre-tax earnings, up to the IRS annual contribution limit. We match 100% of the first 2% of eligible earnings an employee contributes to the 401(k) Plan, and then match 50% of the next 4% of eligible earnings an employee contributes. An employee receives the full 4% match when he/she contributes at least 6% of his/her eligible earnings, up to a maximum calendar year matching contribution of $6,000. Our employer matching contributions to the 401(k) Plan were as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

401(k) matching contributions

 

$

29

 

 

$

30

 

 

$

29

 

 

Deferred Compensation Plan

We have a non-qualified deferred compensation plan that allows a group of employees within the U.S. to contribute base salary and commissions or incentive compensation on a tax deferred basis in excess of the IRS limits imposed on 401(k) plans. The marketable securities related to these investments are held in a Rabbi Trust. The related deferred compensation plan assets and liabilities under the non-qualified deferred compensation plan were as follows (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Deferred compensation plan assets reported as:

 

 

 

 

 

 

Other current assets

 

$

9

 

 

$

7

 

Other non-current assets

 

$

40

 

 

$

34

 

Deferred compensation plan liabilities reported as:

 

 

 

 

 

 

Accrued expenses

 

$

9

 

 

$

7

 

Other long-term liabilities

 

$

40

 

 

$

34

 

 

Defined Benefit Plans

We maintain various defined benefit plans to provide termination and postretirement benefits to certain eligible employees outside of the U.S. We also provide disability benefits to certain eligible employees in the U.S. Eligibility is determined based on the terms of our plans and local statutory requirements.

The funded status of our defined benefit plans, which is recognized in other long-term liabilities in our consolidated balance sheets, was as follows (in millions):

 

April 24, 2026

 

 

April 25, 2025

 

Fair value of plan assets

 

$

73

 

 

$

66

 

Benefit obligations

 

 

(107

)

 

 

(106

)

Unfunded obligations

 

$

(34

)

 

$

(40

)

v3.26.1
Commitments and Contingencies
12 Months Ended
Apr. 24, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

16. Commitments and Contingencies

Purchase Orders and Other Commitments

In the ordinary course of business, we make commitments to third-party contract manufacturers and component suppliers to manage manufacturer lead times and meet product forecasts, and to other parties, to purchase various key components used in the manufacture of our products. A significant portion of our reported purchase commitments arising from these agreements consist of firm, non-cancelable, and unconditional commitments. As of April 24, 2026, we had $1.0 billion in non-cancelable purchase commitments for inventory. We record a liability for firm, non-cancelable and unconditional purchase commitments for quantities in excess of our future demand forecasts consistent with the valuation of our excess and obsolete inventory. As of April 24, 2026 and April 25, 2025, such liability amounted to $25 million and $22 million, respectively, and is included in accrued expenses in our consolidated balance sheets. To the extent that such forecasts are not achieved, our commitments and associated accruals may change.

In addition to inventory commitments with contract manufacturers and component suppliers, we have open purchase orders and contractual obligations associated with our ordinary course of business for which we have not yet received goods or services. As of April 24, 2026, we had $0.4 billion in other purchase obligations.

Of the total $1.4 billion in purchase commitments, $1.1 billion is due in fiscal 2027, with the remainder due thereafter.

Legal Contingencies

When a loss is considered probable and reasonably estimable, we record a liability in the amount of our best estimate for the ultimate loss. However, the likelihood of a loss with respect to a particular contingency is often difficult to predict and determining a meaningful estimate of the loss or a range of loss may not be practicable based on the information available and the potential effect of future events and decisions by third parties that will determine the ultimate resolution of the contingency.

We are subject to various legal proceedings and claims that arise in the normal course of business. We may, from time to time, receive claims that we are infringing third parties’ intellectual property rights, including claims for alleged patent infringement brought by non-practicing entities. We are currently involved in patent litigation brought by non-practicing entities and other third parties. We believe we have strong arguments that our products do not infringe and/or the asserted patents are invalid, and we intend to vigorously defend against the plaintiffs’ claims. However, there is no guarantee that we will prevail at trial and if a jury were to find that our products infringe, we could be required to pay significant monetary damages, and may cause product shipment delays or stoppages, require us to redesign our products, or require us to enter into royalty or licensing agreements.

Although management at present believes that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations, cash flows, or overall trends, legal proceedings are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could include significant monetary damages. In addition, in matters for which injunctive relief or other conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways or requiring other remedies. An unfavorable outcome may result in a material adverse impact on our business, results of operations, financial position, cash flows and overall trends. No material accrual has been recorded as of April 24, 2026 related to such matters.

v3.26.1
Description of Business and Significant Accounting Policies (Policies)
12 Months Ended
Apr. 24, 2026
Accounting Policies [Abstract]  
Fiscal Year

Fiscal Year — Our fiscal year is reported on a 52- or 53-week year ending on the last Friday in April. An additional week is included in the first fiscal quarter approximately every six years to realign fiscal months with calendar months. Fiscal years 2026, 2025 and 2024, which ended on April 24, 2026, April 25, 2025 and April 26, 2024, respectively, are all 52-week years, with 13 weeks in each of their quarters. Unless otherwise stated, references to particular years, quarters, months, and periods refer to the Company’s fiscal years ended on the last Friday of April and the associated quarters, months, and periods of those fiscal years.

Principles of Consolidation

Principles of Consolidation — The consolidated financial statements include the Company and its subsidiaries. Intercompany accounts and transactions are eliminated in consolidation.

Use of Estimates

Use of Estimates — The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Such estimates include, but are not limited to, revenue recognition, reserves and allowances; inventory valuation; valuation of goodwill and intangibles; restructuring reserves; employee benefit accruals; stock-based compensation; loss contingencies; investment impairments; income taxes; and fair value measurements. Actual results could differ materially from those estimates, the anticipated effects of which have been incorporated, as applicable, into management’s estimates as of and for the year ended April 24, 2026.

Cash Equivalents

Cash Equivalents — We consider all highly liquid debt investments with original maturities of three months or less at the time of purchase to be cash equivalents.

Available-for-Sale Investments

Available-for-Sale Investments — We classify our investments in debt securities as available-for-sale investments. Debt securities primarily consist of U.S. Treasury and government debt securities and certificates of deposit. These investments are primarily held in the custody of a major financial institution. A specific identification method is used to determine the cost basis of debt securities sold. These investments are recorded in the consolidated balance sheets at fair value.

Unrealized gains and temporary losses, net of related taxes, are included in accumulated other comprehensive income (loss) (AOCI). Upon realization, those amounts are reclassified from AOCI to earnings. The amortization of premiums and discounts on the investments are included in our results of operations. Realized gains and losses are calculated based on the specific identification method.

We classify our investments as current or noncurrent based on the nature of the investments and their availability for use in current operations.

Impairments on Investments

Impairments on Investments — All of our available-for-sale investments are subject to periodic impairment review. When the fair value of a debt security is less than its amortized cost, we assess what amount of the difference, if any, is caused by expected credit losses. The amount of the difference representing credit losses (defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis of the debt security) is recognized in earnings, and the amount relating to all other factors is recognized in other comprehensive income (OCI). If we intend to sell the security, or if it is more likely than not we will be required to sell the security before recovery of the amortized cost basis, the entire difference between the amortized cost and the fair value of the debt security is recognized in earnings.

Inventories

Inventories — Inventories are stated at the lower of cost or net realizable value, which approximates actual cost on a first-in, first-out basis. We write down excess and obsolete inventory based on the difference between the cost of inventory and the estimated net realizable value. Net realizable value is estimated using management’s best estimate of forecasts for future demand and expectations regarding market conditions. At the point of a loss recognition, a new, lower cost basis for that inventory is established, and subsequent changes in facts or circumstances do not result in the restoration or increase in that newly established basis. In addition, we record a liability for firm, non-cancelable and unconditional purchase commitments with contract manufacturers and suppliers for quantities in excess of our future demand forecasts consistent with our valuation of excess and obsolete inventory.

Property and Equipment

Property and Equipment — Property and equipment are recorded at cost.

Depreciation and amortization is computed using the straight-line method, generally over the following periods:

 

 

 

Depreciation Life

Buildings and improvements

 

10 to 40 years

Furniture and fixtures

 

5 years

Computer, production, engineering and other equipment

 

2 to 3 years

Computer software

 

3 to 5 years

Leasehold improvements

 

Shorter of remaining lease term or useful life

Construction in progress will be depreciated over the estimated useful lives of the respective assets when they are ready for use. We capitalize interest on significant facility assets under construction and on significant software development projects. Interest capitalized during the periods presented was not material.

Software Development Costs

Software Development Costs — The costs for the development of new software products and substantial enhancements to existing software products are expensed as incurred until technological feasibility has been established, at which time any additional costs would be capitalized in accordance with the accounting guidance for software. Because our current process for developing software is essentially completed concurrently with the establishment of technological feasibility, which occurs upon the completion of a working model, no costs have been capitalized for any of the periods presented.

Internal-Use Software Development Costs

Internal-Use Software Development Costs — We capitalize qualifying costs, which are incurred during the application development stage, for computer software developed or obtained for internal-use to property and equipment, net and amortize them over the software’s estimated useful life.

Business Combinations

Business Combinations — We recognize identifiable assets acquired and liabilities assumed at their acquisition date fair values, with the exception of contract assets and liabilities, which we recognize in accordance with our revenue recognition policy as if we had originally executed the customer contract. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date values of the assets acquired and liabilities assumed. While we use our best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that we identify adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of income.

Goodwill and Purchased Intangible Assets

Goodwill and Purchased Intangible Assets — Goodwill is recorded when the consideration paid for an acquisition exceeds the value of net tangible and intangible assets acquired. Purchased intangible assets with finite lives are generally amortized on a straight-line basis over their economic lives of three to five years for developed technology, two to five years for customer contracts/relationships, two to three years for covenants not to compete and two to five years for trademarks and trade names as we believe this method most closely reflects the pattern in which the economic benefits of the assets will be consumed. In-process research and development is accounted for as an indefinite lived intangible asset and is assessed for potential impairment annually until development is complete or when events or circumstances indicate that their carrying amounts might be impaired. Upon completion of development, in-process research and development is accounted for as a finite-lived intangible asset.

The carrying value of goodwill is tested for impairment on an annual basis in the fourth quarter of our fiscal year, or more frequently if we believe indicators of impairment exist. Triggering events for impairment reviews may be indicators such as adverse industry or economic trends, restructuring actions, lower projections of profitability, or a sustained decline in our market capitalization. For the purpose of impairment testing, we have two reporting units, which are the same as our two reportable segments. We initially conduct a qualitative assessment to determine whether it is necessary to perform a quantitative goodwill impairment test. The performance of the quantitative impairment test requires comparing the fair value of each reporting unit to its carrying amount, including goodwill. The fair value of each reporting unit is based on a combination of the income approach and the market approach.

Under the income approach, we estimate the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on discrete forecast periods as well as terminal value determinations, and are derived based on forecasted revenue growth rates and operating margins. These cash flow projections are discounted to arrive at the fair value of each reporting unit. The discount rate used is based on the weighted-average cost of capital of comparable public companies adjusted for the relevant risk associated with business specific characteristics and the uncertainty related to the reporting unit's ability to execute on the projected cash flows. Under the market approach, we estimate the fair value based on market multiples of revenue and earnings derived from comparable publicly traded companies with operating and investment characteristics similar to the reporting unit. In addition, we make certain judgments and assumptions in allocating shared assets and liabilities to individual reporting units to determine the carrying amount of each reporting unit. An impairment exists if the fair value of a reporting unit is lower than its carrying amount. The impairment loss is measured based on the amount by which the carrying amount of the reporting unit exceeds its fair value, with the recognized loss not to exceed the total amount of allocated goodwill. We did not recognize any impairment charges on our goodwill in any of the periods presented.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets — We review the carrying values of long-lived assets whenever events and circumstances, such as reductions in demand, lower projections of profitability, significant changes in the manner of our use of acquired assets, or significant negative industry or economic trends, indicate that the net book value of an asset may not be recovered through expected future cash flows from its use and eventual disposition. If this review indicates that there is an impairment, the impaired asset is written down to its fair value, which is typically calculated using: (i) quoted market prices and/or (ii) expected future cash flows utilizing a discount rate. Our estimates regarding future anticipated cash flows, the remaining economic life of the products and technologies, or both, may differ materially from actual cash flows and remaining economic life. In that event, impairment charges or shortened useful lives of certain long-lived assets may be required, resulting in charges to our consolidated statements of income when such determinations are made.

Derivative Instruments

Derivative Instruments — Our derivative instruments, which are carried at fair value in our consolidated balance sheets, consist of foreign currency exchange contracts as described below:

Balance Sheet Hedges — We utilize foreign currency exchange forward contracts to hedge against the short-term impact of foreign currency exchange rate fluctuations related to certain foreign currency denominated monetary assets and liabilities, primarily intercompany receivables and payables. These derivative instruments are not designated as hedging instruments and do not subject us to material balance sheet risk due to exchange rate movements because the gains and losses on these contracts are intended to offset the gains and losses in the underlying foreign currency denominated monetary assets and liabilities being hedged, and the net amount is included in earnings.

Cash Flow Hedges — We utilize foreign currency exchange forward contracts to hedge foreign currency exchange exposures related to forecasted sales transactions denominated in certain foreign currencies. These derivative instruments are designated and qualify as cash flow hedges and, in general, closely match the underlying forecasted transactions in duration. The effective portion of the contracts’ gains and losses resulting from changes in fair value is recorded in AOCI until the forecasted transaction is recognized in the consolidated statements of income. When the forecasted transactions occur, we reclassify the related gains or losses on the cash flow hedges into net revenues. If the underlying forecasted transactions do not occur, or it becomes probable that they will not occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified from AOCI and recognized immediately in earnings. We measure the effectiveness of hedges of forecasted transactions on a monthly basis by comparing the fair values of the designated foreign currency exchange forward purchase contracts with the fair values of the forecasted transactions.

Factors that could have an impact on the effectiveness of our hedging programs include the accuracy of forecasts and the volatility of foreign currency markets. These programs reduce, but do not entirely eliminate, the impact of currency exchange movements. Currently, we do not enter into any foreign currency exchange forward contracts to hedge exposures related to firm commitments. Cash flows from our derivative programs are included under operating activities in the consolidated statements of cash flows.

Revenue Recognition

Revenue Recognition — We recognize revenue by applying the following five step approach.

Identification of the contract, or contracts, with a customer — A contract with a customer is within the scope of ASC 606 when it meets all the following criteria:
-
It is enforceable
-
It defines each party’s rights
-
It identifies the payment terms
-
It has commercial substance, and
-
We determine that collection of substantially all consideration for goods or services that will be transferred is probable based on the customer’s intent and ability to pay

 

Identification of the performance obligations in the contract — Performance obligations promised in a contract are identified based on the goods or services (or a bundle of goods and services) that will be transferred to the customer that are distinct.

 

Determination of the transaction price — The transaction price is determined based on the consideration to which we will be entitled in exchange for transferring goods or services to the customer.

 

Allocation of the transaction price to the performance obligations in the contract — Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation.
Recognition of revenue when, or as, we satisfy a performance obligation — We satisfy performance obligations either over time or at a point in time.

Customarily we have a purchase order from or executed contract with our customers that establishes the goods and services to be transferred and the consideration to be received.

We combine two or more contracts entered into at or near the same time with the same customer as a single contract if the contracts are negotiated as one package with a single commercial objective, if the amount of consideration to be paid on one contract depends on the price or performance of the other contract or if the goods and services promised in each of the contracts are a single performance obligation.

Our contracts with customers may include hardware systems, software licenses, software support, hardware support, public cloud services and other services. Software support contracts entitle our customers to receive unspecified upgrades and enhancements on a when-and-if-available basis, and patch releases. Hardware support services include contracts for extended warranty and technical support with minimum response times. Other services include professional services and customer education and training services.

We identify performance obligations in our contracts to be those goods and services that are distinct. A good or service is distinct where the customer can benefit from the good or service either on its own or together with other resources that are readily available from third parties or from us, and is distinct in the context of the contract, where the transfer of the good or service is separately identifiable from other promises in the contract.

If a contract includes multiple promised goods or services, we apply judgment to determine whether promised goods or services are distinct. If they are not, we combine the goods and services until we have a distinct performance obligation. For example, a configured storage system inclusive of the operating system (OS) software essential to its functionality is considered a single performance obligation, while optional add-on software is a separate performance obligation. In general, hardware support, software support, and different types of professional services are each separate performance obligations.

We determine the transaction price of our contracts with customers based on the consideration to which we will be entitled in exchange for transferring goods or services. Consideration promised may include fixed amounts, variable amounts or both. We sell public cloud services either on a subscription basis or a consumption basis. We sell professional services either on a time and materials basis or under fixed price projects.

We evaluate variable consideration in arrangements with contract terms such as rights of return, potential penalties and acceptance clauses. We generally use the expected value method, primarily relying on our history, to estimate variable consideration. However, when we believe it to provide a better estimate, we use the most likely amount method. In either case, we consider variable consideration only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. Reassessments of our variable consideration may occur as historical information changes. Transaction prices are also adjusted for the effects of time value of money if the timing of payments provides either the customer or us a significant benefit of financing.

Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation on a relative standalone selling price basis. We determine standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, we estimate the standalone selling price by maximizing the use of observable inputs including pricing strategy, market data, internally-approved pricing guidelines related to the performance obligations and other observable inputs. We regularly review standalone selling prices and maintain internal controls over the establishment and updates of these estimates. Variable consideration is also allocated to the performance obligations. If the terms of variable consideration relate to one performance obligation, it is entirely allocated to that obligation. Otherwise, it is allocated to all the performance obligations in the contract.

We typically recognize revenue at a point in time upon the transfer of goods to a customer. Products we transfer at a point in time include our configured hardware systems, OS software licenses, optional add-on software licenses and add-on hardware. Services are typically transferred over time and revenue is recognized based on an appropriate method for measuring our progress toward

completion of the performance obligation. Our stand-ready services, including both hardware and software support, are transferred ratably over the period of the contract. Our public cloud services are transferred either 1) for subscription arrangements, ratably over the subscription period or 2) for consumption-based arrangements, as actually consumed by the customer. For other services such as our fixed professional services contracts, we use an input method to determine the percentage of completion. That is, we estimate the effort to date versus the expected effort required over the life of the contract.
Deferred Commissions

Deferred Commissions We capitalize sales commissions that are incremental direct costs of obtaining customer contracts for which revenue is not immediately recognized and classify them as current or non-current based on the terms of the related contracts. Capitalized commissions are amortized based on the transfer of goods or services to which they relate, typically over one to four years, and are also periodically reviewed for impairment. Amortization expense is recorded to sales and marketing expense in our consolidated statements of income.

Leases

Leases — We determine if an arrangement is or contains a lease at inception, and we classify leases as operating or finance leases at commencement. In our consolidated balance sheets, operating lease right-of-use (ROU) assets are included in other non-current assets, while finance lease ROU assets are included in property and equipment, net. Lease liabilities for both types of leases are included in accrued expenses and other long-term liabilities. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments over that term.

 

Operating and finance lease ROU assets and liabilities are recognized at commencement based on the present value of lease payments over the lease term. ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives. The lease term is the noncancelable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that an option will be exercised. As the rate implicit in our leases is typically not readily determinable, in computing the present value of lease payments we generally use our incremental borrowing rate based on information available at the commencement date. Variable lease payments not dependent on an index or rate are expensed as incurred and not included within the calculation of ROU assets and lease liabilities. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

We do not separate non-lease components from lease components for any class of leases, and we do not recognize ROU assets and lease liabilities for leases with a lease term of twelve months or less.

Foreign Currency Translation

Foreign Currency Translation — For international subsidiaries whose functional currency is the local currency, gains and losses resulting from translation of these foreign currency financial statements into U.S. dollars are recorded in AOCI. For international subsidiaries where the functional currency is the U.S. dollar, gains and losses resulting from the process of remeasuring foreign currency financial statements into U.S. dollars are included in other (expense) income, net.

Benefit Plans

Benefit Plans — We record actuarial gains and losses associated with defined benefit plans within AOCI and amortize net gains or losses in excess of 10 percent of the greater of the market value of plan assets as of the beginning of the fiscal year or the plans' projected benefit obligation on a straight-line basis over the remaining estimated service life of plan participants. The measurement date for all defined benefit plans is our fiscal year end.

Stock-Based Compensation

Stock-Based Compensation — We measure and recognize stock-based compensation for all stock-based awards, including restricted stock units (RSUs), comprising time-based RSUs and performance-based RSUs (PBRSUs), and rights to purchase shares under our employee stock purchase plan (ESPP), based on their estimated fair value, and recognize the costs in our financial statements using the straight-line attribution approach over the requisite service period for the entire award.

The fair value of employee time-based RSUs, and PBRSUs that include a performance condition, is equal to the market value of our common stock on the grant date of the award, less the present value of expected dividends during the vesting period, discounted at a risk-free interest rate. The fair value of PBRSUs that include a market condition is measured using a Monte Carlo simulation model on the date of grant.

The fair value of time-based RSUs, and PBRSUs that include a market condition, is not remeasured as a result of subsequent stock price fluctuations. When there is a change in management’s estimate of expected achievement relative to the performance target for PBRSUs that include a performance condition, such as our achievement against a billings result average target, the change in estimate results in the recognition of a cumulative adjustment of stock-based compensation expense.

Our stock price volatility assumption is based on a combination of our historical and implied volatility. The risk-free interest rates are based upon United States (U.S.) Treasury bills with equivalent expected terms, and the expected dividends are based on our history and expected dividend payouts.

We account for forfeitures of stock-based awards as they occur.

Income Taxes

Income Taxes — Deferred income tax assets and liabilities are provided for temporary differences that will result in tax deductions or income in future periods, as well as the future benefit of tax credit carryforwards. A valuation allowance reduces tax assets to their estimated realizable value.

We recognize the tax liability for uncertain income tax positions on the income tax return based on the two-step process prescribed in the interpretation. The first step is to determine whether it is more likely than not that each income tax position would be sustained upon audit. The second step is to estimate and measure the tax benefit as the amount that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority. Estimating these amounts requires us to determine the probability of various possible outcomes. We evaluate these uncertain tax positions on a quarterly basis. We recognize interest and penalties related to unrecognized tax benefits within the provision for income taxes line on the accompanying consolidated statements of income.

Net Income per Share

Net Income per Share — Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per share is computed giving effect to the weighted-average number of dilutive potential shares that were outstanding during the period using the treasury stock method. Potential dilutive common shares consist primarily of unvested RSUs and shares to be purchased under our employee stock purchase plan.

Treasury Stock

Treasury Stock — We account for treasury stock under the cost method. Upon the retirement of treasury stock, we allocate the value of treasury shares between common stock, additional paid-in capital and retained earnings.

Recent Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

In September 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The ASU simplifies the capitalization guidance by removing all references to prescriptive and sequential software development stages (referred to as “project stages”) throughout ASC 350-40. The ASU is effective for annual periods beginning after December 15, 2027, with early adoption permitted. Adoption of this ASU can be applied prospectively; or following a modified transition approach that is based on the status of each project and whether software costs were capitalized before adoption; or retrospectively. We are currently evaluating the effect of this pronouncement on our consolidated financial statements and disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosure of the nature of expenses included in the income statement. The standard requires disclosures about specific types of expenses included in the expense captions presented in the income statement as well as disclosures about selling expenses. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The requirements should be applied on a prospective basis while retrospective application is permitted. We are currently evaluating the effect of this pronouncement on our disclosures.

 

Recently Adopted Accounting Pronouncement

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required for income taxes. This includes the disclosure of specific categories and greater disaggregation within the income tax rate reconciliation as well as disclosure of disaggregated income taxes paid by significant jurisdiction. This ASU is effective for fiscal years beginning after December 15, 2024. We adopted the standard on a prospective basis for fiscal 2026. See Note 12 - Income Taxes for further information.

v3.26.1
Description of Business and Significant Accounting Policies (Tables)
12 Months Ended
Apr. 24, 2026
Accounting Policies [Abstract]  
Property and Equipment Depreciation Life

Depreciation and amortization is computed using the straight-line method, generally over the following periods:

 

 

 

Depreciation Life

Buildings and improvements

 

10 to 40 years

Furniture and fixtures

 

5 years

Computer, production, engineering and other equipment

 

2 to 3 years

Computer software

 

3 to 5 years

Leasehold improvements

 

Shorter of remaining lease term or useful life

v3.26.1
Goodwill and Purchased Intangible Assets, Net (Tables)
12 Months Ended
Apr. 24, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill Activity

Goodwill activity by reportable segment is summarized as follows (in millions):

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Balance as of April 26, 2024

 

$

1,714

 

 

$

1,045

 

 

$

2,759

 

Derecognition

 

 

 

 

 

(36

)

 

 

(36

)

Balance as of April 25, 2025

 

 

1,714

 

 

 

1,009

 

 

 

2,723

 

Impact of foreign currency translation

 

 

 

 

 

49

 

 

 

49

 

Balance as of April 24, 2026

 

$

1,714

 

 

$

1,058

 

 

$

2,772

 

Purchased Intangible Assets, Net

Purchased intangible assets, net are summarized below (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

 

Gross

 

 

Accumulated

 

 

Net

 

 

Gross

 

 

Accumulated

 

 

Net

 

 

 

Assets

 

 

Amortization

 

 

Assets

 

 

Assets

 

 

Amortization

 

 

Assets

 

Developed technology

 

$

55

 

 

$

(44

)

 

$

11

 

 

$

55

 

 

$

(33

)

 

$

22

 

Customer contracts/relationships

 

 

50

 

 

 

(39

)

 

 

11

 

 

 

50

 

 

 

(29

)

 

 

21

 

Other purchased intangibles

 

 

2

 

 

 

(2

)

 

 

 

 

 

2

 

 

 

(2

)

 

 

 

Total purchased intangible assets

 

$

107

 

 

$

(85

)

 

$

22

 

 

$

107

 

 

$

(64

)

 

$

43

 

Amortization Expense for Purchased Intangible Assets

Amortization expense for purchased intangible assets is summarized below (in millions):

 

 

Year Ended

 

Statements of

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Income
Classifications

Developed technology

 

$

11

 

 

$

28

 

 

$

34

 

Cost of revenues

Customer contracts/relationships

 

 

10

 

 

 

19

 

 

 

22

 

Operating expenses

Other purchased intangibles

 

 

 

 

 

 

 

 

1

 

Operating expenses

Total

 

$

21

 

 

$

47

 

 

$

57

 

 

Future Amortization Expense Related to Purchased Intangible Assets

As of April 24, 2026, future amortization expense related to purchased intangible assets is as follows (in millions):

Fiscal Year

 

Amount

 

2027

 

$

21

 

2028

 

 

1

 

Total

 

$

22

 

v3.26.1
Supplemental Financial Information (Tables)
12 Months Ended
Apr. 24, 2026
Supplemental Financial Information [Abstract]  
Cash and Cash Equivalents

Cash and cash equivalents (in millions):

The following table presents cash and cash equivalents as reported in our consolidated balance sheets, as well as the sum of cash, cash equivalents and restricted cash as reported on our consolidated statements of cash flows:

 

 

April 24, 2026

 

 

April 25, 2025

 

Cash and cash equivalents

 

$

2,070

 

 

$

2,742

 

Restricted cash

 

 

5

 

 

 

7

 

Cash, cash equivalents and restricted cash

 

$

2,075

 

 

$

2,749

 

 

Inventories

Inventories (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Purchased components

 

$

14

 

 

$

81

 

Finished goods

 

 

184

 

 

 

105

 

Inventories

 

$

198

 

 

$

186

 

Property and Equipment, Net

Property and equipment, net (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Land

 

$

46

 

 

$

46

 

Buildings and improvements

 

 

377

 

 

 

374

 

Leasehold improvements

 

 

114

 

 

 

103

 

Computer, production, engineering and other equipment

 

 

1,264

 

 

 

1,172

 

Computer software

 

 

66

 

 

 

329

 

Furniture and fixtures

 

 

61

 

 

 

62

 

Construction-in-progress

 

 

58

 

 

 

49

 

 

 

 

1,986

 

 

 

2,135

 

Accumulated depreciation and amortization

 

 

(1,394

)

 

 

(1,572

)

Property and equipment, net

 

$

592

 

 

$

563

 

Depreciation and Amortization Expense

Depreciation and amortization expense related to property and equipment, net is summarized below (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Depreciation and amortization expense

 

$

179

 

 

$

196

 

 

$

198

 

Other Non-Current Assets

Other non-current assets (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Deferred tax assets

 

$

859

 

 

$

994

 

Operating lease right-of-use (ROU) assets

 

 

228

 

 

 

241

 

Other assets

 

 

495

 

 

 

408

 

Other non-current assets

 

$

1,582

 

 

$

1,643

 

Accrued Expenses

Accrued expenses (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Accrued compensation and benefits

 

$

543

 

 

$

513

 

Income tax payable

 

 

29

 

 

 

146

 

Operating lease liabilities

 

 

42

 

 

 

40

 

Other current liabilities

 

 

537

 

 

 

423

 

Accrued expenses

 

$

1,151

 

 

$

1,122

 

Other Long-term Liabilities

Other long-term liabilities (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Liability for uncertain tax positions

 

$

38

 

 

$

45

 

Operating lease liabilities

 

 

204

 

 

 

216

 

Other liabilities

 

 

118

 

 

 

118

 

Other long-term liabilities

 

$

360

 

 

$

379

 

Summary of Activity Related to Deferred Commissions and their Balances in Condensed Consolidated Balance Sheets

The following table summarizes deferred commissions balances as reported in our consolidated balance sheets (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Other current assets

 

$

117

 

 

$

64

 

Other non-current assets

 

 

152

 

 

 

104

 

Total deferred commissions

 

$

269

 

 

$

168

 

Other (Expense) Income, Net

Other (expense) income, net (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Interest income

 

$

113

 

 

$

112

 

 

$

112

 

Interest expense

 

 

(109

)

 

 

(64

)

 

 

(64

)

Other, net

 

 

(30

)

 

 

(2

)

 

 

1

 

Total other (expense) income, net

 

$

(26

)

 

$

46

 

 

$

49

 

Statements of Cash Flows Additional Information

Supplemental cash flow information related to our operating leases is included in Note 8 – Leases. Non-cash investing activities and other supplemental cash flow information are presented below:

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Non-cash Investing Activities:

 

 

 

 

 

 

 

 

 

Capital expenditures incurred but not paid

 

$

20

 

 

$

14

 

 

$

16

 

Supplemental Cash Flow Information:

 

 

 

 

 

 

 

 

 

Income taxes paid, net of refunds

 

$

435

 

 

$

412

 

 

$

357

 

Interest paid

 

$

109

 

 

$

53

 

 

$

59

 

Assets and Liabilities Held for Sale

The major classes of assets and liabilities derecognized were (in millions):

 

 

Amount

 

Assets:

 

 

 

Property and equipment, net

 

$

13

 

Goodwill

 

 

36

 

Purchased intangible assets, net

 

 

34

 

Total Assets

 

 

83

 

Liabilities:

 

 

 

Short-term deferred revenue

 

 

1

 

v3.26.1
Financial Instruments and Fair Value Measurements (Tables)
12 Months Ended
Apr. 24, 2026
Investments, Debt and Equity Securities [Abstract]  
Summary of Investments at Cost or Amortized Cost

The following is a summary of our investments at their cost or amortized cost as of April 24, 2026 and April 25, 2025 (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

U.S. Treasury and government debt securities

 

$

2,112

 

 

$

2,025

 

Money market funds

 

 

808

 

 

 

1,126

 

Certificates of deposit

 

 

86

 

 

 

24

 

Mutual funds

 

 

49

 

 

 

41

 

Total debt and equity securities

 

$

3,055

 

 

$

3,216

 

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis (in millions):

 

 

April 24, 2026

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Cash

 

$

578

 

 

$

578

 

 

$

 

Money market funds

 

 

808

 

 

 

808

 

 

 

 

Certificates of deposit

 

 

86

 

 

 

 

 

 

86

 

U.S. Treasury and government debt securities

 

 

598

 

 

 

598

 

 

 

 

Total cash and cash equivalents

 

 

2,070

 

 

 

1,984

 

 

 

86

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury and government debt securities

 

 

1,514

 

 

 

1,514

 

 

 

 

Total short-term investments

 

 

1,514

 

 

 

1,514

 

 

 

 

Total cash, cash equivalents and short-term investments

 

$

3,584

 

 

$

3,498

 

 

$

86

 

Other items:

 

 

 

 

 

 

 

 

 

Mutual funds (1)

 

$

9

 

 

$

9

 

 

$

 

Mutual funds (2)

 

$

40

 

 

$

40

 

 

$

 

Foreign currency exchange contracts assets (1)

 

$

10

 

 

$

 

 

$

10

 

Foreign currency exchange contracts liabilities (3)

 

$

(1

)

 

$

 

 

$

(1

)

 

 

 

 

April 25, 2025

 

 

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

Cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Cash

 

$

671

 

 

$

671

 

 

$

 

Money market funds

 

 

1,126

 

 

 

1,126

 

 

 

 

Certificates of deposit

 

 

24

 

 

 

 

 

 

24

 

U.S. Treasury and government debt securities

 

 

921

 

 

 

921

 

 

 

 

Total cash and cash equivalents

 

 

2,742

 

 

 

2,718

 

 

 

24

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury and government debt securities

 

 

1,104

 

 

 

1,104

 

 

 

 

Total short-term investments

 

 

1,104

 

 

 

1,104

 

 

 

 

Total cash, cash equivalents and short-term investments

 

$

3,846

 

 

$

3,822

 

 

$

24

 

Other items:

 

 

 

 

 

 

 

 

 

Mutual funds (1)

 

$

7

 

 

$

7

 

 

$

 

Mutual funds (2)

 

$

34

 

 

$

34

 

 

$

 

Foreign currency exchange contracts assets (1)

 

$

29

 

 

$

 

 

$

29

 

Foreign currency exchange contracts liabilities (3)

 

$

(2

)

 

$

 

 

$

(2

)

(1)
Reported as other current assets in the consolidated balance sheets
(2)
Reported as other non-current assets in the consolidated balance sheets
(3)
Reported as accrued expenses in the consolidated balance sheets
v3.26.1
Financing Arrangements (Tables)
12 Months Ended
Apr. 24, 2026
Debt Disclosure [Abstract]  
Carrying Value of Long-Term Debt

The following table summarizes information relating to our long-term debt, which we collectively refer to as our Senior Notes (in millions, except interest rates):

 

 

Effective Interest Rate

 

April 24, 2026

 

 

April 25, 2025

 

1.875% Senior Notes Due June 2025

 

2.03%

 

$

 

 

$

750

 

2.375% Senior Notes Due June 2027

 

2.51%

 

 

550

 

 

 

550

 

2.70% Senior Notes Due June 2030

 

2.81%

 

 

700

 

 

 

700

 

5.50% Senior Notes Due March 2032

 

5.71%

 

 

625

 

 

 

625

 

5.70% Senior Notes Due March 2035

 

5.90%

 

 

625

 

 

 

625

 

Total principal amount

 

 

 

 

2,500

 

 

 

3,250

 

Unamortized discount and issuance costs

 

 

 

 

(13

)

 

 

(15

)

Total senior notes

 

 

 

 

2,487

 

 

 

3,235

 

Less: Current portion of long-term debt

 

 

 

 

 

 

 

(750

)

Total long-term debt

 

 

 

$

2,487

 

 

$

2,485

 

Future Principal Debt Maturities

As of April 24, 2026, our aggregate future principal debt maturities are as follows (in millions):

Fiscal Year

 

Amount

 

2027

 

$

 

2028

 

 

550

 

2029

 

 

 

2030

 

 

 

2031

 

 

700

 

Thereafter

 

 

1,250

 

Total

 

$

2,500

 

v3.26.1
Leases (Tables)
12 Months Ended
Apr. 24, 2026
Leases [Abstract]  
Components of Lease Cost Related to Operating Leases

The components of lease cost related to our operating leases were as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Operating lease cost

 

$

52

 

 

$

51

 

Variable lease cost

 

 

15

 

 

 

15

 

Total lease cost

 

$

67

 

 

$

66

 

 

Supplemental Cash Flow Information Related to Operating Leases

The supplemental cash flow information related to our operating leases is as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

49

 

 

$

48

 

ROU assets obtained in exchange for new operating lease obligations

 

$

29

 

 

$

25

 

 

Supplemental Balance Sheet Information Related to Operating Leases

The supplemental balance sheet information related to our operating leases is as follows (in millions, except lease term and discount rate):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Other non-current assets

 

$

228

 

 

$

241

 

Total operating lease ROU assets

 

$

228

 

 

$

241

 

 

 

 

 

 

 

 

Accrued expenses

 

$

42

 

 

$

40

 

Other long-term liabilities

 

 

204

 

 

 

216

 

Total operating lease liabilities

 

$

246

 

 

$

256

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

7.7 years

 

 

8.5 years

 

 

 

 

 

 

 

 

Weighted Average Discount Rate

 

 

3.5

%

 

 

3.4

%

Future Minimum Operating Lease Payments

Future minimum operating lease payments as of April 24, 2026 are as follows (in millions):

 

Fiscal Year

 

 

 

Amount

 

2027

 

 

 

$

47

 

2028

 

 

 

 

43

 

2029

 

 

 

 

38

 

2030

 

 

 

 

32

 

2031

 

 

 

 

30

 

Thereafter

 

 

 

 

93

 

Total lease payments

 

 

 

 

283

 

Less: Interest

 

 

 

 

(37

)

Total

 

 

 

$

246

 

v3.26.1
Stockholders' Equity (Tables)
12 Months Ended
Apr. 24, 2026
Share-Based Payment Arrangement [Abstract]  
Activity Related to Restricted Stock Units Including Performance-Based Restricted Stock Units

The following table summarizes information related to RSUs, including PBRSUs (in millions, except for fair value):

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

Outstanding as of April 28, 2023

 

 

12

 

 

$

62.08

 

Granted

 

 

5

 

 

$

76.46

 

Vested

 

 

(5

)

 

$

59.32

 

Forfeited

 

 

(1

)

 

$

65.17

 

Outstanding as of April 26, 2024

 

 

11

 

 

$

68.87

 

Granted

 

 

4

 

 

$

123.45

 

Vested

 

 

(5

)

 

$

72.07

 

Forfeited

 

 

(2

)

 

$

78.21

 

Outstanding as of April 25, 2025

 

 

8

 

 

$

91.30

 

Granted

 

 

5

 

 

$

104.74

 

Vested

 

 

(4

)

 

$

86.44

 

Forfeited

 

 

(1

)

 

$

89.27

 

Outstanding as of April 24, 2026

 

 

8

 

 

$

101.15

 

Number and Value of Shares Netted for Employee Taxes The number and value of the shares netted for employee taxes are summarized in the table below (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Shares withheld for taxes

 

 

1

 

 

 

2

 

 

 

2

 

Fair value of shares withheld

 

$

137

 

 

$

199

 

 

$

128

 

Schedule of Employee Stock Purchase Plan (ESPP) The following table summarizes activity related to the purchase rights issued under the ESPP (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Shares issued under the ESPP

 

 

1

 

 

 

2

 

Proceeds from issuance of shares

 

$

103

 

 

$

108

 

Stock-Based Compensation Expense

Stock-based compensation expense is included in the consolidated statements of income as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Cost of product revenues

 

$

6

 

 

$

6

 

 

$

6

 

Cost of services revenues

 

 

22

 

 

 

24

 

 

 

23

 

Sales and marketing

 

 

155

 

 

 

162

 

 

 

143

 

Research and development

 

 

126

 

 

 

135

 

 

 

132

 

General and administrative

 

 

73

 

 

 

59

 

 

 

53

 

Total stock-based compensation expense

 

$

382

 

 

$

386

 

 

$

357

 

Summary of Valuation Assumptions

The valuation of RSUs and ESPP purchase rights and the underlying weighted-average assumptions are summarized as follows:

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

RSUs:

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

3.8

%

 

 

4.6

%

 

 

4.9

%

Expected dividend yield

 

 

2.0

%

 

 

1.8

%

 

 

2.6

%

Weighted-average fair value per share granted

 

$

104.74

 

 

$

123.45

 

 

$

76.46

 

 

 

 

 

 

 

 

 

 

 

ESPP:

 

 

 

 

 

 

 

 

 

Expected term in years

 

 

1.2

 

 

 

1.2

 

 

 

1.2

 

Risk-free interest rate

 

 

4.1

%

 

 

5.2

%

 

 

4.9

%

Expected volatility

 

 

36

%

 

 

31

%

 

 

30

%

Expected dividend yield

 

 

2.1

%

 

 

1.7

%

 

 

2.8

%

Weighted-average fair value per right granted

 

$

26.42

 

 

$

29.70

 

 

$

17.37

 

Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to the stock repurchase program (in millions, except for per share amounts):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Number of shares repurchased

 

 

9.0

 

 

 

10.2

 

 

 

11.5

 

Average price per share

 

$

105.89

 

 

$

112.55

 

 

$

77.87

 

Stock repurchases allocated to additional paid-in capital

 

$

98

 

 

$

50

 

 

$

102

 

Stock repurchases allocated to retained earnings

 

$

852

 

 

$

1,100

 

 

$

798

 

Remaining authorization at end of period

 

$

502

 

 

$

352

 

 

$

502

 

On May 21, 2026, our Board of Directors authorized the repurchase of an additional $1.0 billion of our common stock.

Summary of Activities Related to Dividends on Common Stock

The following is a summary of our activities related to dividends on our common stock (in millions, except per share amounts).

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Dividends per share declared

 

$

2.08

 

 

$

2.08

 

 

$

2.00

 

Dividend payments allocated to additional paid-in capital

 

$

142

 

 

$

130

 

 

$

171

 

Dividend payments allocated to retained earnings

 

$

271

 

 

$

294

 

 

$

245

 

v3.26.1
Derivatives and Hedging Activities (Tables)
12 Months Ended
Apr. 24, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Value of Outstanding Foreign Currency Exchange Forward Contracts

The notional amount of our outstanding U.S. dollar equivalent foreign currency exchange forward contracts consisted of the following (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Cash Flow Hedges

 

 

 

 

 

 

Forward contracts purchased

 

$

75

 

 

$

81

 

Balance Sheet Contracts

 

 

 

 

 

 

Forward contracts sold

 

$

995

 

 

$

790

 

Forward contracts purchased

 

$

13

 

 

$

 

Schedule of Derivative Instruments Not Designated as Hedging Instruments

The effect of derivative instruments not designated as hedging instruments recognized in other (expense) income, net on our consolidated statements of income was as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

 

 

Gain (Loss) Recognized into Income

 

Foreign currency exchange contracts

 

$

(15

)

 

$

38

 

 

$

(59

)

v3.26.1
Restructuring Charges (Tables)
12 Months Ended
Apr. 24, 2026
Restructuring and Related Activities [Abstract]  
Activities Related to Restructuring Reserves

Activities related to our restructuring plans are summarized as follows (in millions):

 

 

Total

 

Balance as of April 28, 2023

 

$

36

 

Net charges

 

 

44

 

Cash payments

 

 

(70

)

Balance as of April 26, 2024

 

 

10

 

Net charges

 

 

83

 

Cash payments

 

 

(42

)

Balance as of April 25, 2025

 

 

51

 

Net charges

 

 

21

 

Cash payments

 

 

(66

)

Balance as of April 24, 2026

 

$

6

 

v3.26.1
Income Taxes (Tables)
12 Months Ended
Apr. 24, 2026
Income Tax Disclosure [Abstract]  
Income Before Income Taxes

Income before income taxes is as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Domestic

 

$

718

 

 

$

606

 

 

$

472

 

Foreign

 

 

930

 

 

 

777

 

 

 

791

 

Total

 

$

1,648

 

 

$

1,383

 

 

$

1,263

 

Provision for Income Taxes

The provision for income taxes consists of the following (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$

83

 

 

$

131

 

 

$

89

 

State

 

 

24

 

 

 

38

 

 

 

25

 

Foreign

 

 

130

 

 

 

128

 

 

 

110

 

Total current

 

 

237

 

 

 

297

 

 

 

224

 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

82

 

 

 

(102

)

 

 

24

 

State

 

 

12

 

 

 

(16

)

 

 

6

 

Foreign

 

 

41

 

 

 

18

 

 

 

23

 

Total deferred

 

 

135

 

 

 

(100

)

 

 

53

 

Provision for income taxes

 

$

372

 

 

$

197

 

 

$

277

 

Schedule of Provision For Income Taxes Amount Computed by Applying the Statutory Federal Income Tax Rate

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate, in accordance with the guidance in ASU 2023-09, as follows (in millions, except percentages):

 

 

 

Year Ended April 24, 2026

 

 

 

Tax Effect

 

 

Rate Impact

 

Tax computed at federal statutory rate

 

$

346

 

 

 

21.0

%

State and local income taxes, net of federal benefit (1)

 

 

30

 

 

 

1.8

%

Foreign tax effects:

 

 

 

 

 

 

Ireland

 

 

 

 

 

 

Statutory tax rate difference between Ireland and U.S.

 

 

(44

)

 

 

(2.7

)%

Ireland earnings taxed at rates other than statutory

 

 

14

 

 

 

0.8

%

Other

 

 

3

 

 

 

0.2

%

Cyprus

 

 

 

 

 

 

Statutory tax rate difference between Cyprus and U.S.

 

 

(15

)

 

 

(0.9

)%

Deduction for qualifying capital

 

 

(21

)

 

 

(1.3

)%

Other

 

 

1

 

 

 

0.1

%

Other foreign jurisdictions

 

 

36

 

 

 

2.2

%

Federal:

 

 

 

 

 

 

Effect of cross-border tax laws

 

 

 

 

 

 

Foreign earnings inclusion, net of credits

 

 

34

 

 

 

2.1

%

Subpart F income, net of credits

 

 

9

 

 

 

0.5

%

Tax credits

 

 

 

 

 

 

Research and development credits

 

 

(24

)

 

 

(1.4

)%

Nontaxable or nondeductible items

 

 

2

 

 

 

0.1

%

Changes in unrecognized tax benefits

 

 

3

 

 

 

0.2

%

Other

 

 

(2

)

 

 

(0.1

)%

Provision for income taxes

 

$

372

 

 

 

22.6

%

Percentages may not add due to rounding

 

(1)
State taxes in Illinois, New Jersey, New York, Oregon, and Virginia make up the majority (greater than 50%) of this category.
Schedule of Effective Income Tax Rate Reconciliation

 

 

Year Ended

 

 

 

April 25, 2025

 

 

April 26, 2024

 

Tax computed at federal statutory rate

 

$

290

 

 

$

265

 

State income taxes, net of federal benefit

 

 

14

 

 

 

22

 

Foreign earnings in lower tax jurisdictions

 

 

(14

)

 

 

(40

)

Stock-based compensation

 

 

(21

)

 

 

12

 

Research and development credits

 

 

(31

)

 

 

(22

)

Benefit for foreign derived intangible income

 

 

(28

)

 

 

 

Global minimum tax on intangible income

 

 

12

 

 

 

46

 

Tax charges (benefits) from integration of acquired companies

 

 

1

 

 

 

4

 

Resolution of income tax matters (1)

 

 

(39

)

 

 

(4

)

Other

 

 

13

 

 

 

(6

)

Provision for income taxes

 

$

197

 

 

$

277

 

 

(1)
During fiscal 2025, we recognized a tax benefit related to the IRS examination of our fiscal 2018 and fiscal 2019 U.S. income tax returns. During fiscal 2024, we recognized a tax benefit related to the lapse of statute of limitations for certain issues in our fiscal 2020 U.S. tax returns.
Deferred Tax Assets and Liabilities

The components of our deferred tax assets and liabilities are as follows (in millions):

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Deferred tax assets:

 

 

 

 

 

 

Reserves and accruals

 

$

114

 

 

$

188

 

Net operating loss and credit carryforwards

 

 

145

 

 

 

138

 

Stock-based compensation

 

 

25

 

 

 

25

 

Deferred revenue

 

 

267

 

 

 

250

 

Acquired intangibles

 

 

441

 

 

 

483

 

Capitalized research and development (1)

 

 

182

 

 

 

198

 

Other

 

 

6

 

 

 

6

 

Gross deferred tax assets

 

 

1,180

 

 

 

1,288

 

Valuation allowance

 

 

(123

)

 

 

(119

)

Deferred tax assets, net of valuation allowance

 

 

1,057

 

 

 

1,169

 

Deferred tax liabilities:

 

 

 

 

 

 

Prepaids and accruals

 

 

104

 

 

 

87

 

Acquired intangibles

 

 

89

 

 

 

84

 

Property and equipment

 

 

33

 

 

 

26

 

Other

 

 

2

 

 

 

6

 

Total deferred tax liabilities

 

 

228

 

 

 

203

 

Deferred tax assets, net of valuation allowance and deferred tax liabilities

 

$

829

 

 

$

966

 

 

(1)
As required under the Tax Cuts and Jobs Act of 2017, research and development expenditures were capitalized and amortized beginning in our fiscal 2023. Effective for fiscal 2026, we are expensing research and development expenditures as permitted by the One Big Beautiful Bill Act (OBBB).
Schedule of Income Tax Paid Net of Refunds

The following table summarizes income taxes paid (net of refunds) exceeding 5 percent of total income taxes paid (net of refunds) in the following jurisdictions (in millions):

 

 

 

Year Ended April 24, 2026

 

U.S. Federal

 

$

261

 

U.S. States and Local

 

 

29

 

Foreign

 

 

 

Ireland

 

 

51

 

Cyprus

 

 

24

 

Other

 

 

70

 

Total foreign

 

 

145

 

Total income taxes paid (net of refunds)

 

$

435

 

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Balance at beginning of period

 

$

68

 

 

$

220

 

 

$

222

 

Additions based on tax positions related to the current year

 

 

7

 

 

 

8

 

 

 

7

 

Additions for tax positions of prior years

 

 

3

 

 

 

4

 

 

 

 

Decreases for tax positions of prior years

 

 

(2

)

 

 

(25

)

 

 

(2

)

Settlements

 

 

(8

)

 

 

(139

)

 

 

(7

)

Balance at end of period

 

$

68

 

 

$

68

 

 

$

220

 

Summary of Tax Years Remain Subject to Examinations under Major Tax Jurisdictions

The tax years that remain subject to examination as of April 24, 2026 for our major tax jurisdictions are shown below:

2023 — 2026

 

United States — federal income tax

2020 — 2026

 

United States — state and local income tax

2020 — 2026

 

Australia

2022 — 2026

 

Germany

2007 — 2026

 

India

2019 — 2026

 

The Netherlands

2019 — 2026

 

Canada

2020 — 2026

 

Japan

2020 — 2026

 

Cyprus

2023 — 2026

 

United Kingdom

2024 — 2026

 

France

2019 — 2026

 

Israel

2022 — 2026

 

Ireland

v3.26.1
Net Income per Share (Tables)
12 Months Ended
Apr. 24, 2026
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Net Income Per Share

The following is a calculation of basic and diluted net income per share (in millions, except per share amounts):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

1,276

 

 

$

1,186

 

 

$

986

 

Denominator:

 

 

 

 

 

 

 

 

 

Shares used in basic computation

 

 

199

 

 

 

204

 

 

 

208

 

Dilutive impact of employee equity award plans

 

 

2

 

 

 

5

 

 

 

5

 

Shares used in diluted computation

 

 

201

 

 

 

209

 

 

 

213

 

Net Income per Share:

 

 

 

 

 

 

 

 

 

Basic

 

$

6.41

 

 

$

5.81

 

 

$

4.74

 

Diluted

 

$

6.35

 

 

$

5.67

 

 

$

4.63

 

Schedule Of Employee Equity Award Plans

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Employee equity award plans

 

 

1

 

 

 

1

 

 

 

2

 

v3.26.1
Segment, Geographic, and Significant Customer Information (Tables)
12 Months Ended
Apr. 24, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information by Segment

Financial information by segment is as follows (in millions):

 

Year Ended April 24, 2026

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

3,194

 

 

$

 

 

$

3,194

 

Support revenues

 

2,636

 

 

 

 

 

 

2,636

 

Professional and other services revenues

 

407

 

 

 

 

 

 

407

 

Public cloud revenues

 

 

 

 

688

 

 

 

688

 

     Net revenues

 

6,237

 

 

 

688

 

 

 

6,925

 

Cost of product revenues

 

1,395

 

 

 

 

 

 

1,395

 

Cost of support revenues

 

198

 

 

 

 

 

 

198

 

Cost of professional and other services revenues

 

281

 

 

 

 

 

 

281

 

Cost of public cloud revenues

 

 

 

 

113

 

 

 

113

 

     Segment cost of revenues

 

1,874

 

 

 

113

 

 

 

1,987

 

         Segment gross profit

$

4,363

 

 

$

575

 

 

$

4,938

 

            Unallocated cost of revenues1

 

 

 

 

 

 

 

(39

)

   Operating expenses

 

 

 

 

 

 

 

(3,225

)

   Other expense, net

 

 

 

 

 

 

 

(26

)

                   Income before income taxes

 

 

 

 

 

 

$

1,648

 

1 Unallocated cost of revenues are composed of $28 million of stock-based compensation expense and $11 million of amortization of intangible assets.

 

 

 

Year Ended April 25, 2025

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

3,040

 

 

$

 

 

$

3,040

 

Support revenues

 

2,512

 

 

 

 

 

 

2,512

 

Professional and other services revenues

 

355

 

 

 

 

 

 

355

 

Public cloud revenues

 

 

 

 

665

 

 

 

665

 

     Net revenues

 

5,907

 

 

 

665

 

 

 

6,572

 

Cost of product revenues

 

1,278

 

 

 

 

 

 

1,278

 

Cost of support revenues

 

197

 

 

 

 

 

 

197

 

Cost of professional and other services revenues

 

261

 

 

 

 

 

 

261

 

Cost of public cloud revenues

 

 

 

 

165

 

 

 

165

 

     Segment cost of revenues

 

1,736

 

 

 

165

 

 

 

1,901

 

         Segment gross profit

$

4,171

 

 

$

500

 

 

$

4,671

 

            Unallocated cost of revenues1

 

 

 

 

 

 

 

(58

)

   Operating expenses

 

 

 

 

 

 

 

(3,276

)

   Other income, net

 

 

 

 

 

 

 

46

 

                   Income before income taxes

 

 

 

 

 

 

$

1,383

 

1 Unallocated cost of revenues are composed of $30 million of stock-based compensation expense and $28 million of amortization of intangible assets.

 

 

 

 

Year Ended April 26, 2024

 

 

Hybrid Cloud

 

 

Public Cloud

 

 

Total

 

Product revenues

$

2,849

 

 

$

 

 

$

2,849

 

Support revenues

 

2,488

 

 

 

 

 

 

2,488

 

Professional and other services revenues

 

320

 

 

 

 

 

 

320

 

Public cloud revenues

 

 

 

 

611

 

 

 

611

 

     Net revenues

 

5,657

 

 

 

611

 

 

 

6,268

 

Cost of product revenues

 

1,131

 

 

 

 

 

 

1,131

 

Cost of support revenues

 

195

 

 

 

 

 

 

195

 

Cost of professional and other services revenues

 

243

 

 

 

 

 

 

243

 

Cost of public cloud revenues

 

 

 

 

203

 

 

 

203

 

     Segment cost of revenues

 

1,569

 

 

 

203

 

 

 

1,772

 

         Segment gross profit

$

4,088

 

 

$

408

 

 

$

4,496

 

            Unallocated cost of revenues1

 

 

 

 

 

 

 

(63

)

   Operating expenses

 

 

 

 

 

 

 

(3,219

)

   Other income, net

 

 

 

 

 

 

 

49

 

                   Income before income taxes

 

 

 

 

 

 

$

1,263

 

1 Unallocated cost of revenues are composed of $29 million of stock-based compensation expense and $34 million of amortization of intangible assets.

 

Hybrid Cloud Segment Net Revenues by Storage Category are as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

All-flash revenues

 

$

4,178

 

 

$

3,763

 

 

$

3,262

 

Hybrid-flash and other revenues

 

 

2,059

 

 

 

2,144

 

 

 

2,395

 

Hybrid Cloud segment net revenues

 

$

6,237

 

 

$

5,907

 

 

$

5,657

 

Hybrid cloud segment net revenues by storage category [Table Textblock]

Hybrid Cloud Segment Net Revenues by Storage Category are as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

All-flash revenues

 

$

4,178

 

 

$

3,763

 

 

$

3,262

 

Hybrid-flash and other revenues

 

 

2,059

 

 

 

2,144

 

 

 

2,395

 

Hybrid Cloud segment net revenues

 

$

6,237

 

 

$

5,907

 

 

$

5,657

 

Schedule of Revenues by Geographic Region

Revenues summarized by geographic region are as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

United States, Canada and Latin America (Americas)

 

$

3,505

 

 

$

3,347

 

 

$

3,193

 

Europe, Middle East and Africa (EMEA)

 

 

2,358

 

 

 

2,204

 

 

 

2,104

 

Asia Pacific (APAC)

 

 

1,062

 

 

 

1,021

 

 

 

971

 

Net revenues

 

$

6,925

 

 

$

6,572

 

 

$

6,268

 

Schedule of Cash, Cash Equivalents and Short-Term Investments The following table presents cash, cash equivalents and short-term investments held in the U.S. and internationally in various foreign subsidiaries (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

U.S.

 

$

1,322

 

 

$

1,320

 

International

 

 

2,262

 

 

 

2,526

 

Total

 

$

3,584

 

 

$

3,846

 

Schedule of Property and Equipment, Net by Geographic Areas The following table presents property and equipment information for geographic areas based on the physical location of the assets (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

U.S.

 

$

373

 

 

$

344

 

International

 

 

219

 

 

 

219

 

Total

 

$

592

 

 

$

563

 

 

Schedule of Revenues from Significant Customers

Two customers, each of which is a distributor, accounted for 10% or more of our net revenues:

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Customer A

 

 

22

%

 

 

21

%

 

 

22

%

Customer B

 

 

21

%

 

 

24

%

 

 

22

%

Schedule of Net Accounts Receivable from Significant Customers

Two customers, each of which is a distributor, accounted for 10% or more of accounts receivable:

 

 

April 24, 2026

 

 

April 25, 2025

 

Customer A

 

*

 

 

 

10

%

Customer B

 

 

18

%

 

 

27

%

    * Customer accounted for less than 10% of accounts receivable.

 

v3.26.1
Employee Benefits and Deferred Compensation (Tables)
12 Months Ended
Apr. 24, 2026
Retirement Benefits [Abstract]  
Amount Contributed Under 401(k) Plans Our employer matching contributions to the 401(k) Plan were as follows (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

401(k) matching contributions

 

$

29

 

 

$

30

 

 

$

29

 

Deferred Compensation Plans The related deferred compensation plan assets and liabilities under the non-qualified deferred compensation plan were as follows (in millions):

 

 

April 24, 2026

 

 

April 25, 2025

 

Deferred compensation plan assets reported as:

 

 

 

 

 

 

Other current assets

 

$

9

 

 

$

7

 

Other non-current assets

 

$

40

 

 

$

34

 

Deferred compensation plan liabilities reported as:

 

 

 

 

 

 

Accrued expenses

 

$

9

 

 

$

7

 

Other long-term liabilities

 

$

40

 

 

$

34

 

Schedule of Defined Benefit Plans

The funded status of our defined benefit plans, which is recognized in other long-term liabilities in our consolidated balance sheets, was as follows (in millions):

 

April 24, 2026

 

 

April 25, 2025

 

Fair value of plan assets

 

$

73

 

 

$

66

 

Benefit obligations

 

 

(107

)

 

 

(106

)

Unfunded obligations

 

$

(34

)

 

$

(40

)

v3.26.1
Description of Business and Significant Accounting Policies - Property and Equipment Depreciation Life (Detail)
12 Months Ended
Apr. 24, 2026
Furniture and fixtures  
Property Plant And Equipment [Line Items]  
Depreciation life (years) 5 years
Property, Plant and Equipment, Useful Life 5 years
Leasehold improvements  
Property Plant And Equipment [Line Items]  
Property Plants And Equipments Estimated Useful Lives Shorter of remaining lease term or useful life
Minimum | Buildings and improvements  
Property Plant And Equipment [Line Items]  
Depreciation life (years) 10 years
Property, Plant and Equipment, Useful Life 10 years
Minimum | Computer, production, engineering and other equipment  
Property Plant And Equipment [Line Items]  
Depreciation life (years) 2 years
Property, Plant and Equipment, Useful Life 2 years
Minimum | Computer software  
Property Plant And Equipment [Line Items]  
Depreciation life (years) 3 years
Property, Plant and Equipment, Useful Life 3 years
Maximum | Buildings and improvements  
Property Plant And Equipment [Line Items]  
Depreciation life (years) 40 years
Property, Plant and Equipment, Useful Life 40 years
Maximum | Computer, production, engineering and other equipment  
Property Plant And Equipment [Line Items]  
Depreciation life (years) 3 years
Property, Plant and Equipment, Useful Life 3 years
Maximum | Computer software  
Property Plant And Equipment [Line Items]  
Depreciation life (years) 5 years
Property, Plant and Equipment, Useful Life 5 years
v3.26.1
Description of Business and Significant Accounting Policies - Additional Information (Detail)
12 Months Ended
Apr. 24, 2026
Minimum  
Description Of Business And Significant Accounting Policies [Line Items]  
Capitalized commissions amortization period 1 year
Minimum | Developed Technology  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 3 years
Minimum | Customer Contracts/Relationships  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 2 years
Minimum | Covenants not to Compete  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 2 years
Minimum | Trademarks and Trade Names  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 2 years
Maximum  
Description Of Business And Significant Accounting Policies [Line Items]  
Capitalized commissions amortization period 4 years
Maximum | Developed Technology  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 5 years
Maximum | Customer Contracts/Relationships  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 5 years
Maximum | Covenants not to Compete  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 3 years
Maximum | Trademarks and Trade Names  
Description Of Business And Significant Accounting Policies [Line Items]  
Finite-Lived Intangible Asset, Useful Life 5 years
v3.26.1
Business Combinations - Summary of Acquisition Date Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Business Acquisition [Line Items]      
Goodwill $ 2,772 $ 2,723 $ 2,759
v3.26.1
Goodwill and Purchased Intangible Assets, Net - Schedule of Goodwill Activity (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Goodwill [Line Items]    
Balance as of Beginning $ 2,723 $ 2,759
Derecognition   (36)
Impact of foreign currency translation 49  
Balance as of Ending 2,772 2,723
Hybrid Cloud    
Goodwill [Line Items]    
Balance as of Beginning 1,714 1,714
Derecognition   0
Impact of foreign currency translation 0  
Balance as of Ending 1,714 1,714
Public Cloud    
Goodwill [Line Items]    
Balance as of Beginning 1,009 1,045
Derecognition   (36)
Impact of foreign currency translation 49  
Balance as of Ending $ 1,058 $ 1,009
v3.26.1
Goodwill and Purchased Intangible Assets, Net (Additional Information) (Details)
12 Months Ended
Apr. 24, 2026
Segment
Finite-Lived Intangible Assets [Line Items]  
Number of reportable segments 2
v3.26.1
Goodwill and Purchased Intangible Assets, Net - Summary of Goodwill by Reportable Segment (Details)
$ in Millions
12 Months Ended
Apr. 24, 2026
USD ($)
Goodwill [Line Items]  
Balance as of Beginning $ 2,723
Impact of foreign currency translation 49
Balance as of Ending 2,772
Hybrid Cloud  
Goodwill [Line Items]  
Balance as of Beginning 1,714
Impact of foreign currency translation 0
Balance as of Ending 1,714
Public Cloud  
Goodwill [Line Items]  
Balance as of Beginning 1,009
Impact of foreign currency translation 49
Balance as of Ending $ 1,058
v3.26.1
Goodwill and Purchased Intangible Assets, Net - Purchased Intangible Assets, Net (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Acquired Finite Lived Intangible Assets [Line Items]    
Gross Assets $ 107 $ 107
Accumulated Amortization (85) (64)
Net Assets 22 43
Developed Technology    
Acquired Finite Lived Intangible Assets [Line Items]    
Gross Assets 55 55
Accumulated Amortization (44) (33)
Net Assets 11 22
Customer Contracts/Relationships    
Acquired Finite Lived Intangible Assets [Line Items]    
Gross Assets 50 50
Accumulated Amortization (39) (29)
Net Assets 11 21
Other Purchased Intangibles    
Acquired Finite Lived Intangible Assets [Line Items]    
Gross Assets 2 2
Accumulated Amortization (2) (2)
Net Assets $ 0 $ 0
v3.26.1
Goodwill and Purchased Intangible Assets, Net - Amortization Expense for Purchased Intangible Assets (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Acquired Finite Lived Intangible Assets [Line Items]      
Amortization expense $ 21 $ 47 $ 57
Cost of revenues | Developed Technology      
Acquired Finite Lived Intangible Assets [Line Items]      
Amortization expense 11 28 34
Operating expenses | Customer Contracts/Relationships      
Acquired Finite Lived Intangible Assets [Line Items]      
Amortization expense 10 19 22
Operating expenses | Other Purchased Intangibles      
Acquired Finite Lived Intangible Assets [Line Items]      
Amortization expense $ 0 $ 0 $ 1
v3.26.1
Goodwill and Purchased Intangible Assets, Net - Future Amortization Expense Related to Purchased Intangible Assets (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Acquired Finite Lived Intangible Assets [Line Items]    
2027 $ 21  
2028 1  
Net Assets $ 22 $ 43
v3.26.1
Supplemental Financial Information - Cash and Cash Equivalents (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Apr. 28, 2023
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]        
Cash and cash equivalents $ 2,070 $ 2,742    
Restricted cash 5 7    
Cash, cash equivalents and restricted cash $ 2,075 $ 2,749 $ 1,909 $ 2,322
v3.26.1
Supplemental Financial Information - Inventories (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Inventory Disclosure [Abstract]    
Purchased components $ 14 $ 81
Finished goods 184 105
Inventories $ 198 $ 186
v3.26.1
Supplemental Financial Information - Property and Equipment Net (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Property Plant And Equipment [Line Items]    
Property and equipment, gross $ 1,986 $ 2,135
Accumulated depreciation and amortization (1,394) (1,572)
Property and equipment, net 592 563
Land    
Property Plant And Equipment [Line Items]    
Property and equipment, gross 46 46
Buildings and improvements    
Property Plant And Equipment [Line Items]    
Property and equipment, gross 377 374
Leasehold improvements    
Property Plant And Equipment [Line Items]    
Property and equipment, gross 114 103
Computer, production, engineering and other equipment    
Property Plant And Equipment [Line Items]    
Property and equipment, gross 1,264 1,172
Computer software    
Property Plant And Equipment [Line Items]    
Property and equipment, gross 66 329
Furniture and fixtures    
Property Plant And Equipment [Line Items]    
Property and equipment, gross 61 62
Construction-in-progress    
Property Plant And Equipment [Line Items]    
Property and equipment, gross $ 58 $ 49
v3.26.1
Supplemental Financial Information - Additional Information (Detail) - USD ($)
$ in Millions
1 Months Ended 12 Months Ended
Jan. 31, 2025
Apr. 24, 2026
Apr. 25, 2025
Mar. 03, 2025
Property Plant And Equipment [Line Items]        
Property, Plant and Equipment, Net   $ 592 $ 563  
Revenue recognized   2,279 2,176  
Amortization expense from deferred commissions   106 123  
Impairment charges   0 $ 0  
Cash consideration $ 70      
Max contingent cash consideration $ 49      
Total sales consideration       $ 20
Contingent Consideration   11    
Lenovo NetApp Technology Limited (“LNTL”)        
Property Plant And Equipment [Line Items]        
Non-controlling equity interest, ownership percentage     49.00%  
Book value of investments   $ 98 $ 92  
v3.26.1
Supplemental Financial Information - Depreciation and Amortization Expense (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Depreciation, Depletion and Amortization [Abstract]      
Depreciation and amortization expense $ 179 $ 196 $ 198
v3.26.1
Supplemental Financial Information - Other Non-Current Assets (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Deferred tax assets $ 859 $ 994
Operating lease right-of-use (ROU) assets 228 241
Other assets 495 408
Other non-current assets $ 1,582 $ 1,643
v3.26.1
Supplemental Financial Information - Accrued expenses (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Payables and Accruals [Abstract]    
Accrued compensation and benefits $ 543 $ 513
Product warranty liabilities 29 146
Operating lease liabilities 42 40
Other current liabilities 537 423
Accrued expenses $ 1,151 $ 1,122
v3.26.1
Supplemental Financial Information - Product Warranty Liabilities (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Standard Product Warranty Accrual, Balance Sheet Classification [Abstract]    
Accrued expenses $ 29 $ 146
v3.26.1
Supplemental Financial Information - Other Long-term Liabilities (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Liabilities, Other than Long-Term Debt, Noncurrent [Abstract]    
Liability for uncertain tax positions $ 38 $ 45
Operating lease liabilities 204 216
Other liabilities 118 118
Other long-term liabilities $ 360 $ 379
v3.26.1
Supplemental Financial Information - Summary of Components of Deferred Revenue and Financed Unearned Services Revenue (Details) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Contract With Customer Liability [Line Items]    
Short-term $ 2,320 $ 2,279
Long-term $ 2,525 $ 2,257
v3.26.1
Supplemental Financial Information - Additional Information (Detail 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-25
$ in Billions
Apr. 24, 2026
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Performance obligations related to customer contracts $ 5.7
Revenue expected to be recognized 45.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period 12 months
v3.26.1
Supplemental Financial Information - Summary of Activity Related to the Balances in Consolidated Balance Sheets (Details) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Contract with Customer, Liability [Abstract]    
Other current assets $ 117 $ 64
Other non-current assets 152 104
Total deferred commissions $ 269 $ 168
v3.26.1
Supplemental Financial Information - Other Income (Expense), Net (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Nonoperating Income (Expense) [Abstract]      
Interest income $ 113 $ 112 $ 112
Interest expense (109) (64) (64)
Other, net (30) (2) 1
Total other (expense) income, net $ (26) $ 46 $ 49
v3.26.1
Supplemental Financial Information - Supplemental Cash Flows, Non-Cash Investing and Financing Activities (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Non-cash Investing Activities:      
Capital expenditures incurred but not paid $ 20 $ 14 $ 16
Supplemental Cash Flow Information:      
Income taxes paid, net of refunds 435 412 357
Interest paid $ 109 $ 53 $ 59
v3.26.1
Supplemental Financial Information - Assets and liabilities held for sale (Details)
$ in Millions
Apr. 24, 2026
USD ($)
Assets:  
Property and equipment, net $ 13
Goodwill 36
Purchased intangible assets, net 34
Total Assets 83
Liabilities:  
Short-term deferred revenue and financed unearned service revenue $ 1
v3.26.1
Revenue - Summary of Disaggregation of Revenue (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Disaggregation Of Revenue [Line Items]      
Net revenues $ 6,925 $ 6,572 $ 6,268
Product Revenues      
Disaggregation Of Revenue [Line Items]      
Net revenues 3,194 3,040 2,849
Professional and Other Services      
Disaggregation Of Revenue [Line Items]      
Net revenues $ 407 $ 355 $ 320
v3.26.1
Revenue - Summary of Components of Deferred Revenue and Financed Unearned Services Revenue (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Contract With Customer Liability [Line Items]    
Short-term $ 2,320 $ 2,279
Long-term $ 2,525 $ 2,257
v3.26.1
Revenue - Additional Information (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Disaggregation of Revenue [Abstract]    
Revenue recognized $ 2,279 $ 2,176
v3.26.1
Revenue - Summary of Activity Related to Deferred Commissions (Detail)
$ in Millions
Apr. 24, 2026
USD ($)
Deferred Revenue Disclosure [Abstract]  
Balance at beginning of period $ 168
Balance at end of period $ 269
v3.26.1
Revenue - Summary of Activity Related to the Balances in Consolidated Balance Sheets (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Deferred Revenue Disclosure [Abstract]    
Other current assets $ 117 $ 64
Other non-current assets 152 104
Total deferred commissions $ 269 $ 168
v3.26.1
Financial Instruments and Fair Value Measurements - Summary of Investments at Cost or Amortized Cost (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Schedule of Available-for-sale Securities [Line Items]    
Cost or amortized cost $ 3,055 $ 3,216
U.S. Treasury and Government Debt Securities    
Schedule of Available-for-sale Securities [Line Items]    
Cost or amortized cost 2,112 2,025
Money market funds    
Schedule of Available-for-sale Securities [Line Items]    
Cost or amortized cost 808 1,126
Certificates of Deposit    
Schedule of Available-for-sale Securities [Line Items]    
Cost or amortized cost 86 24
Mutual Funds    
Schedule of Available-for-sale Securities [Line Items]    
Cost or amortized cost $ 49 $ 41
v3.26.1
Financial Instruments and Fair Value Measurements - Additional Information (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Significant Other Observable Inputs (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt Instrument, Fair Value Disclosure $ 2,468 $ 3,143
v3.26.1
Financial Instruments and Fair Value Measurements - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets $ 3,584 $ 3,846
Other Current Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreign currency exchange contracts assets [1] 10 29
Accrued Expenses    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreign currency exchange contracts liabilities [2] (1) (2)
Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 2,070 2,742
Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 3,498 3,822
Fair Value, Inputs, Level 1 [Member] | Other Current Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreign currency exchange contracts assets [1] 0 0
Fair Value, Inputs, Level 1 [Member] | Accrued Expenses    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreign currency exchange contracts liabilities [2] 0 0
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 1,984 2,718
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 86 24
Fair Value, Inputs, Level 2 [Member] | Other Current Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreign currency exchange contracts assets [1] 10 29
Fair Value, Inputs, Level 2 [Member] | Accrued Expenses    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreign currency exchange contracts liabilities [2] (1) (2)
Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 86 24
Short-Term Investments [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 1,514 1,104
Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 1,514 1,104
Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 0 0
Certificates of Deposit | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 86 24
Certificates of Deposit | Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 0 0
Certificates of Deposit | Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 86 24
U.S. Treasury and Government Debt Securities | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 598 921
U.S. Treasury and Government Debt Securities | Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 598 921
U.S. Treasury and Government Debt Securities | Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 0 0
U.S. Treasury and Government Debt Securities | Short-Term Investments [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 1,514 1,104
U.S. Treasury and Government Debt Securities | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 1,514 1,104
U.S. Treasury and Government Debt Securities | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 0 0
Mutual Funds | Other Current Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets [1] 9 7
Mutual Funds | Other Noncurrent Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets [3] 40 34
Mutual Funds | Fair Value, Inputs, Level 1 [Member] | Other Current Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets [1] 9 7
Mutual Funds | Fair Value, Inputs, Level 1 [Member] | Other Noncurrent Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets [3] 40 34
Mutual Funds | Fair Value, Inputs, Level 2 [Member] | Other Current Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets [1] 0 0
Mutual Funds | Fair Value, Inputs, Level 2 [Member] | Other Noncurrent Assets    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets [3] 0 0
Cash | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 578 671
Cash | Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 578 671
Cash | Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 0 0
Money Market Funds [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 808 1,126
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets 808 1,126
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Assets $ 0 $ 0
[1] Reported as other current assets in the consolidated balance sheets
[2] Reported as accrued expenses in the consolidated balance sheets
[3] Reported as other non-current assets in the consolidated balance sheets
v3.26.1
Financing Arrangements - Carrying Value of Long-Term Debt (Detail) - USD ($)
Apr. 24, 2026
Jun. 23, 2025
Apr. 25, 2025
Mar. 31, 2025
Debt Instrument [Line Items]        
Total senior notes $ 2,487,000,000   $ 3,235,000,000  
Current portion of long-term debt 0   (750,000,000)  
Less: Current portion of long-term debt 0   (750,000,000)  
Long-term debt 2,487,000,000   2,485,000,000  
Senior Notes        
Debt Instrument [Line Items]        
Total principal amount 2,500,000,000   3,250,000,000  
Unamortized discount and issuance costs (13,000,000)   (15,000,000)  
Senior Notes | Due June 2025        
Debt Instrument [Line Items]        
Total principal amount $ 0 $ 757,000,000 $ 750,000,000  
Debt Instrument, Effective Interest Rate 2.03%   2.03%  
Senior Notes | Due June 2027        
Debt Instrument [Line Items]        
Total principal amount $ 550,000,000   $ 550,000,000  
Debt Instrument, Effective Interest Rate 2.51%   2.51%  
Senior Notes | Due June 2030        
Debt Instrument [Line Items]        
Total principal amount $ 700,000,000   $ 700,000,000  
Debt Instrument, Effective Interest Rate 2.81%   2.81%  
Senior Notes | Due March 2032        
Debt Instrument [Line Items]        
Total principal amount $ 625,000,000   $ 625,000,000 $ 625
Debt Instrument, Effective Interest Rate 5.71%   5.71%  
Senior Notes | Due March 2035        
Debt Instrument [Line Items]        
Total principal amount $ 625,000,000   $ 625,000,000 $ 625
Debt Instrument, Effective Interest Rate 5.90%   5.90%  
v3.26.1
Financing Arrangements - Additional Information (Detail)
12 Months Ended 120 Months Ended
Mar. 31, 2025
USD ($)
Extension
Apr. 24, 2026
USD ($)
Jul. 31, 2027
Jun. 23, 2025
USD ($)
Apr. 25, 2025
USD ($)
Jul. 28, 2017
USD ($)
Debt Instrument [Line Items]            
Commercial paper notes   $ 0     $ 0  
Revolving Credit Facility            
Debt Instrument [Line Items]            
Credit facility, amount $ 1,000,000,000          
Credit facility, maturity Mar. 05, 2030          
Credit facility, number of extensions | Extension 2          
Credit facility, extensions period 1 year          
Credit facility, amounts drawn   0        
Revolving Credit Facility | Letter Of Credit Sub Facility            
Debt Instrument [Line Items]            
Credit facility, amount $ 50,000,000          
Commercial Paper | Maximum            
Debt Instrument [Line Items]            
Notes issued, principal amount           $ 1,000,000,000
Debt instrument maturity period     397 days      
Senior Notes            
Debt Instrument [Line Items]            
Notes issued, principal amount   2,500,000,000     3,250,000,000  
Issuances of debt, net of issuance costs 1,240,000,000          
Senior Notes | Due March 2032            
Debt Instrument [Line Items]            
Notes issued, principal amount $ 625 625,000,000     625,000,000  
Notes issued, interest rate 5.50%          
Senior Notes | Due March 2035            
Debt Instrument [Line Items]            
Notes issued, principal amount $ 625 625,000,000     625,000,000  
Notes issued, interest rate 5.70%          
Senior Notes | Due June 2030            
Debt Instrument [Line Items]            
Notes issued, principal amount   700,000,000     700,000,000  
Senior Notes | Due June 2025            
Debt Instrument [Line Items]            
Notes issued, principal amount   0   $ 757,000,000 750,000,000  
Notes issued, interest rate       1.875%    
Senior Notes | Due June 2027            
Debt Instrument [Line Items]            
Notes issued, principal amount   $ 550,000,000     $ 550,000,000  
v3.26.1
Financing Arrangements - Future Principal Debt Maturities (Detail) - Senior Notes - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Debt Instrument [Line Items]    
2027 $ 0  
2028 550  
2029 0  
2030 0  
2031 700  
Thereafter 1,250  
Total $ 2,500 $ 3,250
v3.26.1
Leases - Additional Information (Detail)
12 Months Ended
Apr. 26, 2024
Apr. 24, 2026
Leases [Line Items]    
Operating lease, existence of option to extend true  
Maximum    
Leases [Line Items]    
Operating remaining lease term   16 years
Maximum | Equipment    
Leases [Line Items]    
Operating remaining lease term   3 years
Maximum | Automobiles    
Leases [Line Items]    
Operating remaining lease term   4 years
v3.26.1
Leases - Components of Lease Cost Related to Operating Leases (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Leases [Abstract]    
Operating lease cost $ 52 $ 51
Variable lease cost 15 15
Total lease cost $ 67 $ 66
v3.26.1
Leases - Supplemental Cash Flow Information Related to Operating Leases (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Leases [Abstract]    
Cash paid for amounts included in the measurement of operating lease liabilities $ 49 $ 48
Right-of-use assets obtained in exchange for new operating lease obligations $ 29 $ 25
v3.26.1
Leases - Supplemental Balance Sheet Information Related to Operating Leases (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Leases [Abstract]    
Other non-current assets $ 228 $ 241
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other non-current assets Other non-current assets
Accrued expenses $ 42 $ 40
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Accrued expenses Accrued expenses
Other long-term liabilities $ 204 $ 216
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other long-term liabilities Other long-term liabilities
Total operating lease liabilities $ 246 $ 256
Weighted Average Remaining Lease Term 7 years 8 months 12 days 8 years 6 months
Weighted Average Discount Rate 3.50% 3.40%
v3.26.1
Leases - Future Minimum Operating Lease Payments (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Leases [Abstract]    
2027 $ 47  
2028 43  
2029 38  
2030 32  
2031 30  
Thereafter 93  
Total lease payments 283  
Less: Interest (37)  
Total operating lease liabilities $ 246 $ 256
v3.26.1
Stockholders' Equity - Additional Information (Detail)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
May 21, 2026
USD ($)
$ / shares
Sep. 10, 2025
shares
Apr. 24, 2026
USD ($)
Period
$ / shares
shares
Apr. 25, 2025
USD ($)
$ / shares
shares
Apr. 26, 2024
USD ($)
$ / shares
shares
Apr. 28, 2023
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period, description     For the remaining half of the PBRSUs granted, the number of shares used to calculate the settlement amount will depend upon the Company's billings result average over the three-year performance period. The billings result average is computed based on achievement against annual billings targets, with each target set at the beginning of the respective fiscal year, during the three-year performance period. Billings, for purposes of measuring the performance of these PBRSUs, means the total obtained by adding net revenues as reported on the Company's consolidated statements of income to the amount reported as the change in deferred revenue on the consolidated statements of cash flows for the applicable measurement period, excluding the impact of fluctuations in foreign currency exchange rates.      
Unrecognized compensation expense related to equity awards | $     $ 639      
Unrecognized compensation expense will be amortized on a straight-line basis over a weighted-average remaining period, in years     2 years 2 months 12 days      
Stock repurchase program, authorized amount | $ $ 1,000          
Aggregate purchase price of common stock authorized under repurchase program | $     $ 950 $ 1,150 $ 900  
Preferred stock, shares authorized     5 5    
Preferred stock, shares issued     0 0    
Preferred stock, shares outstanding     0 0    
Cash dividends declared, per common share | $ / shares $ 0.52   $ 2.08 $ 2.08 $ 2  
Minimum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Percentage of Common stock issued to settle PBRSUs of target shares granted     0.00%      
Maximum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Percentage of Common stock issued to settle PBRSUs of target shares granted     200.00%      
Restricted Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Awards outstanding     8 8 11 12
Performance Based Restricted Stock Unit            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
RSUs grant date fair value | $     $ 64 $ 67 $ 39  
Awards outstanding     1 1 1  
Performance Based Restricted Stock Unit | PBRSU Three            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period     3 years      
Employee Stock Purchase Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares available for grant     5      
Share offering period for eligible employees     24 months      
Number of consecutive purchase periods | Period     4      
Duration of purchase period     6 months      
Percentage of discount from quoted market price, employees entitled to buy shares (ESPP)     15.00%      
Additional shares of common stock authorized   4        
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant     5      
O 2025 A Dividends [Member]            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Cash dividend payable date Jul. 29, 2026          
Cash dividend record date Jul. 10, 2026          
2021 Stock Option Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares available for grant     14      
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant     14      
Shares reserved for future issuance     5      
2021 Stock Option Plan | Restricted Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period     4 years      
2021 Stock Option Plan | Restricted Stock Units | Tranche One            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting rate     25.00%      
2021 Stock Option Plan | Restricted Stock Units | Tranche Two            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting rate     6.25%      
2021 Stock Option Plan | Restricted Stock Units | Tranche Three            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting rate     6.25%      
2021 Stock Option Plan | Restricted Stock Units | Tranche Four            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting rate     6.25%      
v3.26.1
Stockholders' Equity - Activity Related to Restricted Stock Units Including Performance-Based Restricted Stock Units (Detail) - Restricted Stock Units - $ / shares
shares in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Beginning balance, Number of Shares 8 11 12
RSUs granted, Number of Shares 5 4 5
RSUs vested, Number of Shares (4) (5) (5)
RSUs forfeited, Number of Shares (1) (2) (1)
Ending Balance, Number of Shares 8 8 11
Beginning Balance, Weighted-Average Grant Date Fair Value $ 91.3 $ 68.87 $ 62.08
Weighted-average fair value per right granted 104.74 123.45 76.46
RSUs vested, Weighted-Average Grant Date Fair Value 86.44 72.07 59.32
RSUs forfeited, Weighted-Average Grant Date Fair Value 89.27 78.21 65.17
Ending Balance, Weighted-Average Grant Date Fair Value $ 101.15 $ 91.3 $ 68.87
v3.26.1
Stockholders' Equity - Number and Value of Shares Netted for Employee Taxes (Detail) - Restricted Stock Units - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares withheld for taxes 1 2 2
Fair value of shares withheld $ 137 $ 199 $ 128
v3.26.1
Stockholders' Equity - Schedule of Employee Stock Purchase Plan (ESPP) (Detail) - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Shares issued under the ESPP 1 2
Employee Stock Purchase Plan    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Proceeds from issuance of shares $ 103 $ 108
v3.26.1
Stockholders' Equity - Stock-Based Compensation Expense (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation expense $ 382 $ 386 $ 357
Cost of Product Revenues      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation expense 6 6 6
Cost of Hardware Support and Other Services Revenues      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation expense 22 24 23
Sales and Marketing      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation expense 155 162 143
Research and Development      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation expense 126 135 132
General and Administrative      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation expense $ 73 $ 59 $ 53
v3.26.1
Stockholders' Equity - Summary of Valuation Assumptions (Detail) - $ / shares
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Restricted Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Risk-free interest rate 3.80% 4.60% 4.90%
Expected dividend yield 2.00% 1.80% 2.60%
Weighted-average fair value per right granted $ 104.74 $ 123.45 $ 76.46
Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected term in years 1 year 2 months 12 days 1 year 2 months 12 days 1 year 2 months 12 days
Risk-free interest rate 4.10% 5.20% 4.90%
Expected volatility 36.00% 31.00% 30.00%
Expected dividend yield 2.10% 1.70% 2.80%
Weighted-average fair value per right granted $ 26.42 $ 29.7 $ 17.37
v3.26.1
Stockholders' Equity - Summary of Activities Related to Stock Repurchase Program (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Equity Class Of Treasury Stock [Line Items]      
Stock repurchases allocated $ 950 $ 1,150 $ 900
Stock Repurchase Program      
Equity Class Of Treasury Stock [Line Items]      
Number of shares repurchased 9.0 10.2 11.5
Average price per share $ 105.89 $ 112.55 $ 77.87
Stock repurchases allocated $ 852 $ 1,100 $ 798
Remaining authorization at end of period 502 352 502
Additional Paid-in Capital | Stock Repurchase Program      
Equity Class Of Treasury Stock [Line Items]      
Stock repurchases allocated 98 50 102
Retained Earnings (Accumulated Deficit)      
Equity Class Of Treasury Stock [Line Items]      
Stock repurchases allocated $ 852 $ 1,100 $ 798
v3.26.1
Stockholders' Equity - Summary of Activities Related to Dividends on Common Stock (Detail) - USD ($)
12 Months Ended
May 21, 2026
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Dividends, Common Stock [Abstract]        
Dividends per share declared $ 0.52 $ 2.08 $ 2.08 $ 2
Dividend payments   $ 413,000,000 $ 424,000,000 $ 416,000,000
Additional Paid-in Capital        
Dividends, Common Stock [Abstract]        
Dividend payments   142 130 171
Retained Earnings        
Dividends, Common Stock [Abstract]        
Dividend payments   $ 271 $ 294 $ 245
v3.26.1
Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) by Component Net of Tax (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balances $ 1,040 $ 1,146 $ 1,159
Balances 1,351 1,040 1,146
AOCI Attributable to Parent      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Balances (66) (59) (51)
Balances $ (11) $ (66) $ (59)
v3.26.1
Stockholders' Equity - Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]      
Net revenues $ 6,925 $ 6,572 $ 6,268
v3.26.1
Derivatives and Hedging Activities - Schedule of Notional Value of Outstanding Foreign Currency Forward Contracts (Detail) - Foreign Exchange Forward Contracts - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Long | Cash Flow Hedges    
Derivative [Line Items]    
Derivative, Notional Amount $ 75 $ 81
Non Designated | Long | Balance Sheet Contracts    
Derivative [Line Items]    
Derivative, Notional Amount 13 0
Non Designated | Short | Balance Sheet Contracts    
Derivative [Line Items]    
Derivative, Notional Amount $ 995 $ 790
v3.26.1
Derivatives and Hedging Activities - Schedule of Derivative Instruments Not Designated as Cash Flow Hedges (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Foreign Exchange Forward Contracts      
Derivative Instruments, Gain (Loss) [Line Items]      
Foreign currency exchange contracts $ (15) $ 38 $ (59)
v3.26.1
Restructuring Charges - Activities Related to Restructuring Reserves (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Restructuring and Related Activities [Abstract]      
Balance at beginning of period $ 51 $ 10 $ 36
Net charges 21 83 44
Cash payments (66) (42) (70)
Balance at end of period $ 6 $ 51 $ 10
v3.26.1
Income Taxes - Income Before Income Taxes (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Income Tax Disclosure [Abstract]      
Domestic $ 718 $ 606 $ 472
Foreign 930 777 791
Income before income taxes $ 1,648 $ 1,383 $ 1,263
v3.26.1
Income Taxes - Provision for Income Taxes (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Current, Federal $ 83 $ 131 $ 89
Current, State 24 38 25
Current, Foreign 130 128 110
Total current 237 297 224
Deferred, Federal 82 (102) 24
Deferred, State 12 (16) 6
Deferred, Foreign 41 18 23
Total deferred 135 (100) 53
Provision for income taxes $ 372 $ 197 $ 277
v3.26.1
Income Taxes - Schedule of Provision For Income Taxes Amount Computed by Applying the Statutory Federal Income Tax Rate (Details) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Effective Income Tax Rate Reconciliation [Line Items]      
Tax computed at federal statutory rate $ 346 $ 290 $ 265
Tax computed at federal statutory rate, Rate 21.00%    
State and local income taxes, net of federal benefit $ 30 [1] 14 22
State and local income taxes, net of federal benefit, Rate [1] 1.80%    
Foreign tax effects:      
Other foreign jurisdictions   (14) (40)
Effect of cross-border tax laws      
Global minimum tax on intangible income, net of credits $ 34    
Global minimum tax on intangible income, net of credits, Rate 2.10%    
Subpart F income, net of credits $ 9    
Subpart F income, net of credits, Rate 0.50%    
Tax credits      
Research and development credits $ (24)    
Research and development credits, Rate (1.40%)    
Nontaxable or nondeductible items, Percentage 0.10%    
Nontaxable or nondeductible items, Amount $ 2    
Changes in unrecognized tax benefits $ 3    
Changes in unrecognized tax benefits, Rate 0.20%    
Other $ (2)    
Other, Rate (0.10%)    
Provision for income taxes $ 372 $ 197 $ 277
Provision for income taxes, Rate 22.60%    
Other foreign jurisdictions      
Foreign tax effects:      
Other foreign jurisdictions $ 36    
Other foreign jurisdictions, Rate 2.20%    
Ireland | Other foreign jurisdictions      
Foreign tax effects:      
Statutory tax rate difference $ (44)    
Statutory tax rate difference, Rate (2.70%)    
Earnings taxed at rates other than statutory $ 14    
Earnings taxed at rates other than statutory, Rate 0.80%    
Other $ 3    
Other, Rate 0.20%    
Cyprus | Other foreign jurisdictions      
Foreign tax effects:      
Statutory tax rate difference $ (15)    
Statutory tax rate difference, Rate (0.90%)    
Deduction for qualifying capital, Amount $ (21)    
Deduction for qualifying capital, Rate (1.30%)    
Other $ 1    
Other, Rate 0.10%    
[1] State taxes in Illinois, New Jersey, New York, Oregon, and Virginia make up the majority (greater than 50%) of this category.
v3.26.1
Income Taxes - Schedule of Provision For Income Taxes Amount Computed by Applying the Statutory Federal Income Tax Rate (Parenthetical) (Details)
12 Months Ended
Apr. 24, 2026
Income Tax Disclosure [Abstract]  
Majority state tax percentage 50.00%
v3.26.1
Income Taxes - Statutory Federal Income Tax Rate (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Tax computed at federal statutory rate $ 346 $ 290 $ 265
State income taxes, net of federal benefit 30 [1] 14 22
Foreign earnings in lower tax jurisdictions   (14) (40)
Stock-based compensation   (21) 12
Research and development credits   (31) (22)
Benefit for foreign derived intangible income   (28) 0
Global minimum tax on intangible income   12 46
Tax charges (benefits) from integration of acquired companies   1 4
Resolution of income tax matters [2]   (39) (4)
Other   13 (6)
Provision for income taxes $ 372 $ 197 $ 277
[1] State taxes in Illinois, New Jersey, New York, Oregon, and Virginia make up the majority (greater than 50%) of this category.
[2] During fiscal 2025, we recognized a tax benefit related to the IRS examination of our fiscal 2018 and fiscal 2019 U.S. income tax returns. During fiscal 2024, we recognized a tax benefit related to the lapse of statute of limitations for certain issues in our fiscal 2020 U.S. tax returns.
v3.26.1
Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Components of Deferred Tax Assets and Liabilities [Abstract]    
Reserves and accruals $ 114 $ 188
Net operating loss and credit carryforwards 145 138
Stock-based compensation 25 25
Deferred revenue 267 250
Acquired intangibles 441 483
Capitalized research and development [1] 182 198
Other 6 6
Gross deferred tax assets 1,180 1,288
Valuation allowance (123) (119)
Deferred tax assets, net of valuation allowance 1,057 1,169
Deferred Tax Liabilities, Net [Abstract]    
Prepaids and accruals 104 87
Acquired intangibles 89 84
Property and equipment 33 26
Other 2 6
Total deferred tax liabilities 228 203
Deferred tax assets, net of valuation allowance and deferred tax liabilities $ 829 $ 966
[1] As required under the Tax Cuts and Jobs Act of 2017, research and development expenditures were capitalized and amortized beginning in our fiscal 2023. Effective for fiscal 2026, we are expensing research and development expenditures as permitted by the One Big Beautiful Bill Act (OBBB).
v3.26.1
Income Taxes - Additional Information (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Apr. 24, 2025
Apr. 28, 2023
Income Tax Contingency [Line Items]          
Deferred tax assets, increase in valuation allowance $ 4        
Operating loss carryforwards, limitations on use The state and foreign net operating loss carryforwards and credits will expire in various years from fiscal 2027 through 2042.        
Gross unrecognized tax benefits $ 68 $ 68 $ 220   $ 222
Income Tax Expense (Benefit) 372 197 277    
Gross unrecognized tax benefits included in other long-term liabilities 38 45      
Gross unrecognized tax benefits, Other current liabilities 8        
Unrecognized tax benefits that would affect provision for income taxes 47        
Tax penalties and interest on unrecognized tax benefits 2 $ 4 $ 11    
Accrued tax penalties and interest on unrecognized tax benefits $ 10     $ 8  
Minimum          
Income Tax Contingency [Line Items]          
Global minimum tax 15.00%        
Internal Revenue Service (IRS)          
Income Tax Contingency [Line Items]          
Operating loss carry forwards $ 6        
Tax benefit recognized due to the release of tax reserves 36        
Tax Adjustments, Settlements, and Unusual Provisions 36        
Foreign Tax Jurisdiction | Dutch Subsidiaries [Member]          
Income Tax Contingency [Line Items]          
Tax credit carry forward amount 37        
Foreign Tax Jurisdiction | Foreign Subsidiaries [Member]          
Income Tax Contingency [Line Items]          
Tax credit carry forward amount 16        
State and Local Income Tax          
Income Tax Contingency [Line Items]          
Operating loss carry forwards 1        
Tax credit carry forward amount $ 143        
v3.26.1
Income Taxes - Schedule of Income Tax Paid Net of Refunds (Details)
$ in Millions
12 Months Ended
Apr. 24, 2026
USD ($)
Foreign  
Total income taxes paid (net of refunds) $ 435
U.S.  
Effective Income Tax Rate Reconciliation [Line Items]  
U.S. Federal 261
U.S. States and Local 29
Ireland  
Foreign  
Total income taxes paid (net of refunds) 51
Cyprus  
Foreign  
Total income taxes paid (net of refunds) 24
Other  
Foreign  
Total income taxes paid (net of refunds) 70
Total foreign  
Foreign  
Total income taxes paid (net of refunds) $ 145
v3.26.1
Income Taxes - Unrecognized Tax Benefits (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Income Tax Disclosure [Abstract]      
Balance at beginning of period $ 68 $ 220 $ 222
Additions based on tax positions related to the current year 7 8 7
Additions for tax positions of prior years 3 4 0
Decreases for tax positions of prior years (2) (25) (2)
Settlements (8) (139) (7)
Balance at end of period $ 68 $ 68 $ 220
v3.26.1
Income Taxes - Summary of Tax Years Remain Subject to Examinations under Major Tax Jurisdictions (Detail)
12 Months Ended
Apr. 24, 2026
Fiscal Year 2020 | United States - State and Local Income Tax  
Income Tax Examination [Line Items]  
Tax year subject to examination 2020
Fiscal Year 2026 | United States - State and Local Income Tax  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Internal Revenue Service (IRS) | Fiscal Year 2023  
Income Tax Examination [Line Items]  
Tax year subject to examination 2023
Internal Revenue Service (IRS) | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Australia | Fiscal Year 2020  
Income Tax Examination [Line Items]  
Tax year subject to examination 2020
Australia | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Germany | Fiscal Year 2022  
Income Tax Examination [Line Items]  
Tax year subject to examination 2022
Germany | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
India | Fiscal Year 2007  
Income Tax Examination [Line Items]  
Tax year subject to examination 2007
India | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
The Netherlands | Fiscal Year 2019  
Income Tax Examination [Line Items]  
Tax year subject to examination 2019
The Netherlands | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Canada | Fiscal Year 2019  
Income Tax Examination [Line Items]  
Tax year subject to examination 2019
Canada | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Japan | Fiscal Year 2020  
Income Tax Examination [Line Items]  
Tax year subject to examination 2020
Japan | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Cyprus | Fiscal Year 2020  
Income Tax Examination [Line Items]  
Tax year subject to examination 2020
Cyprus | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
United Kingdom | Fiscal Year 2023  
Income Tax Examination [Line Items]  
Tax year subject to examination 2023
United Kingdom | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
France | Fiscal Year 2024  
Income Tax Examination [Line Items]  
Tax year subject to examination 2024
France | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Israel | Fiscal Year 2019  
Income Tax Examination [Line Items]  
Tax year subject to examination 2019
Israel | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
Ireland | Fiscal Year 2022  
Income Tax Examination [Line Items]  
Tax year subject to examination 2022
Ireland | Fiscal Year 2026  
Income Tax Examination [Line Items]  
Tax year subject to examination 2026
v3.26.1
Net Income per Share - Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Earnings Per Share [Abstract]      
Net Income (Loss) $ 1,276 $ 1,186 $ 986
Shares used in basic computation 199 204 208
Dilutive impact of employee equity award plans 2 5 5
Shares used in diluted computation 201 209 213
Basic $ 6.41 $ 5.81 $ 4.74
Diluted $ 6.35 $ 5.67 $ 4.63
v3.26.1
Net Income per Share - Schedule Of Employee Equity Award Plans (Details) - shares
shares in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Earnings Per Share [Abstract]      
Employee Equity Award Plans 1 1 2
v3.26.1
Segment Geographic and Significant Customer Information - Additional Information (Detail)
$ in Millions
12 Months Ended
Apr. 24, 2026
USD ($)
Segment
Apr. 25, 2025
USD ($)
Apr. 26, 2024
USD ($)
Segment Reporting Information [Line Items]      
Net revenues $ 6,925 $ 6,572 $ 6,268
Number of Reportable Segments | Segment 2    
U.S.      
Segment Reporting Information [Line Items]      
Net revenues $ 3,293 $ 3,092 $ 2,952
v3.26.1
Segment, Geographic, and Significant Customer Information - Schedule of Financial Information by Segment (Details) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Segment Reporting Information [Line Items]      
Net revenues $ 6,925 $ 6,572 $ 6,268
Unallocated cost of revenues (39) (58) (63)
Operating Expenses 3,225 3,276 3,219
Gross profit 4,899 4,613 4,433
Other income, net (26) 46 49
Income before income taxes 1,648 1,383 1,263
Product [Member]      
Segment Reporting Information [Line Items]      
Net revenues 3,194 3,040 2,849
Segment cost of revenues 1,395 1,278 1,131
Support      
Segment Reporting Information [Line Items]      
Net revenues 2,636 2,512 2,488
Segment cost of revenues 198 197 195
Professional and Other Services      
Segment Reporting Information [Line Items]      
Net revenues 407 355 320
Segment cost of revenues 281 261 243
Public Cloud      
Segment Reporting Information [Line Items]      
Net revenues 688 665 611
Segment cost of revenues 113 165 203
Operating Segments      
Segment Reporting Information [Line Items]      
Segment cost of revenues 1,987 1,901 1,772
Segment gross profit 4,938 4,671 4,496
Operating Expenses (3,225) (3,276) (3,219)
Operating Segments | Hybrid Cloud Segment      
Segment Reporting Information [Line Items]      
Net revenues 6,237 5,907 5,657
Segment cost of revenues 1,874 1,736 1,569
Segment gross profit 4,363 4,171 4,088
Operating Segments | Hybrid Cloud Segment | Product [Member]      
Segment Reporting Information [Line Items]      
Net revenues 3,194 3,040 2,849
Segment cost of revenues 1,395 1,278 1,131
Operating Segments | Hybrid Cloud Segment | Support      
Segment Reporting Information [Line Items]      
Net revenues 2,636 2,512 2,488
Segment cost of revenues 198 197 195
Operating Segments | Hybrid Cloud Segment | Professional and Other Services      
Segment Reporting Information [Line Items]      
Net revenues 407 355 320
Segment cost of revenues 281 261 243
Operating Segments | Hybrid Cloud Segment | Public Cloud      
Segment Reporting Information [Line Items]      
Net revenues 0 0 0
Segment cost of revenues 0 0 0
Operating Segments | Public Cloud Segment      
Segment Reporting Information [Line Items]      
Net revenues 688 665 611
Segment cost of revenues 113 165 203
Segment gross profit 575 500 408
Operating Segments | Public Cloud Segment | Product [Member]      
Segment Reporting Information [Line Items]      
Net revenues 0 0 0
Segment cost of revenues 0 0 0
Operating Segments | Public Cloud Segment | Support      
Segment Reporting Information [Line Items]      
Net revenues 0 0 0
Segment cost of revenues 0 0 0
Operating Segments | Public Cloud Segment | Professional and Other Services      
Segment Reporting Information [Line Items]      
Net revenues 0 0 0
Segment cost of revenues 0 0 0
Operating Segments | Public Cloud Segment | Public Cloud      
Segment Reporting Information [Line Items]      
Net revenues 688 665 611
Segment cost of revenues $ 113 $ 165 $ 203
v3.26.1
Segment, Geographic, and Significant Customer Information - Schedule of Financial Information by Segment (Parenthetical) (Details) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Segment Reporting [Abstract]      
Unallocated cost of revenue stock-based compensation expense $ 28 $ 30 $ 29
Unallocated cost of revenue amortization of intangible assets $ 11 $ 28 $ 34
v3.26.1
Segment Geographic and Significant Customer Information - Schedule of Revenues by Geographic Region (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Segment Reporting Information [Line Items]      
Net revenues $ 6,925 $ 6,572 $ 6,268
United States, Canada And Latin America (Americas)      
Segment Reporting Information [Line Items]      
Net revenues 3,505 3,347 3,193
Europe, Middle East And Africa (EMEA)      
Segment Reporting Information [Line Items]      
Net revenues 2,358 2,204 2,104
Asia Pacific (APAC)      
Segment Reporting Information [Line Items]      
Net revenues $ 1,062 $ 1,021 $ 971
v3.26.1
Segment, Geographic, and Significant Customer Information - Summary of Hybrid Cloud Segment Net Revenues By Storage Category (Details) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Segment Reporting Information [Line Items]      
Revenues, Total $ 6,237 $ 5,907 $ 5,657
Hybrid-flash and other revenues [Member]      
Segment Reporting Information [Line Items]      
Revenues, Total 2,059 2,144 2,395
All-flash revenues [Member]      
Segment Reporting Information [Line Items]      
Revenues, Total $ 4,178 $ 3,763 $ 3,262
v3.26.1
Segment Geographic and Significant Customer Information - Schedule of Cash, Cash Equivalents and Short-Term Investments (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Segment Reporting Information [Line Items]    
Cash, cash equivalents and short-term investments $ 3,584 $ 3,846
U.S.    
Segment Reporting Information [Line Items]    
Cash, cash equivalents and short-term investments 1,322 1,320
Non Us    
Segment Reporting Information [Line Items]    
Cash, cash equivalents and short-term investments $ 2,262 $ 2,526
v3.26.1
Segment Geographic and Significant Customer Information - Schedule of Property and Equipment Net by Geographic Areas (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Segment Reporting, Asset Reconciling Item [Line Items]    
Property and equipment, net $ 592 $ 563
U.S.    
Segment Reporting, Asset Reconciling Item [Line Items]    
Property and equipment, net 373 344
Non Us    
Segment Reporting, Asset Reconciling Item [Line Items]    
Property and equipment, net $ 219 $ 219
v3.26.1
Segment Geographic and Significant Customer Information - Significant Customers (Detail) - Net Revenue - Customer Concentration Risk
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Arrow Electronics, Inc.      
Segment Reporting Information [Line Items]      
Percentage of net revenues 22.00% 21.00% 22.00%
Tech Data Corporation      
Segment Reporting Information [Line Items]      
Percentage of net revenues 21.00% 24.00% 22.00%
v3.26.1
Segment Geographic and Significant Customer Information - Schedule of Net Accounts Receivable from Significant Customers (Detail) - Accounts Receivable - Credit Concentration Risk
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Arrow Electronics, Inc.    
Segment Reporting Information [Line Items]    
Percentage of net accounts receivable   10.00%
Tech Data Corporation    
Segment Reporting Information [Line Items]    
Percentage of net accounts receivable 18.00% 27.00%
v3.26.1
Employee Benefits and Deferred Compensation - Additional Information (Detail)
12 Months Ended
Apr. 24, 2026
USD ($)
Defined Contribution Plan Disclosure [Line Items]  
Employee 401(k) Plan, Description An employee receives the full 4% match when he/she contributes at least 6% of his/her eligible earnings, up to a maximum calendar year matching contribution of $6,000.
Employee contribution percentage 6.00%
Maximum amount of matching contribution $ 6,000
Contribution Match First 2% Eligible Earnings Employee  
Defined Contribution Plan Disclosure [Line Items]  
Percentage of employee contributions matched 100.00%
Percentage of earnings on employee contributions matched 2.00%
Contribution Match Next 4% Eligible Earnings Employee  
Defined Contribution Plan Disclosure [Line Items]  
Percentage of employee contributions matched 50.00%
Percentage of earnings on employee contributions matched 4.00%
v3.26.1
Employee Benefits and Deferred Compensation - Amount Contributed under 401(k) Plans (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Retirement Benefits [Abstract]      
401(k) matching contributions $ 29 $ 30 $ 29
v3.26.1
Employee Benefits and Deferred Compensation - Deferred Compensation Plans (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Retirement Benefits [Abstract]    
Other current assets $ 9 $ 7
Other non-current assets 40 34
Accrued expenses 9 7
Other long-term liabilities $ 40 $ 34
v3.26.1
Employee Benefits and Deferred Compensation - Schedule of Defined Benefit Plans (Detail) - USD ($)
$ in Millions
Apr. 24, 2026
Apr. 25, 2025
Retirement Benefits [Abstract]    
Fair value of plan assets $ 73 $ 66
Benefit obligations (107) (106)
Unfunded obligations $ (34) $ (40)
v3.26.1
Commitments and Contingencies - Additional Information (Detail) - USD ($)
$ in Millions
12 Months Ended
Apr. 24, 2026
Apr. 25, 2025
Apr. 26, 2024
Commitments and Contingencies Disclosure [Line Items]      
Purchase orders and other commitments $ 1,400    
Accrued purchase commitments with contract manufacturers 25 $ 22  
Purchase orders and other commitments due in fiscal 2024 1,100    
Sale of finance receivables 28 $ 65 $ 67
Legal proceedings and claims $ 0    
Management estimation of loss contingency Although management at present believes that the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm our financial position, results of operations, cash flows, or overall trends, legal proceedings are subject to inherent uncertainties, and unfavorable rulings or other events could occur. Unfavorable resolutions could include significant monetary damages. In addition, in matters for which injunctive relief or other conduct remedies are sought, unfavorable resolutions could include an injunction or other order prohibiting us from selling one or more products at all or in particular ways or requiring other remedies. An unfavorable outcome may result in a material adverse impact on our business, results of operations, financial position, cash flows and overall trends    
Inventory      
Commitments and Contingencies Disclosure [Line Items]      
Purchase orders and other commitments $ 1,000    
Other      
Commitments and Contingencies Disclosure [Line Items]      
Purchase orders and other commitments $ 400