8. Balance Sheet Details
Cash and cash equivalents (in millions):
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Cash |
$ | 1,634.7 | $ | 649.8 | ||||
|
Cash equivalents |
1,642.4 | 900.0 | ||||||
|
|
|
|
|
|||||
|
Cash and cash equivalents |
$ | 3,277.1 | $ | 1,549.8 | ||||
|
|
|
|
|
|||||
Inventories (in millions):
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Purchased components |
$ | 16.3 | $ | 30.9 | ||||
|
Finished goods |
123.2 | 130.6 | ||||||
|
|
|
|
|
|||||
|
Inventories |
$ | 139.5 | $ | 161.5 | ||||
|
|
|
|
|
|||||
Other current assets (in millions):
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Prepaid expenses and other current assets |
$ | 262.6 | $ | 225.4 | ||||
|
Short-term restricted cash |
8.9 | 8.6 | ||||||
|
Deferred tax assets |
253.7 | 201.6 | ||||||
|
|
|
|
|
|||||
|
Other current assets |
$ | 525.2 | $ | 435.6 | ||||
|
|
|
|
|
|||||
Property and equipment, net (in millions):
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Land |
$ | 265.5 | $ | 247.6 | ||||
|
Buildings and building improvements |
534.8 | 417.9 | ||||||
|
Leasehold improvements |
100.3 | 96.5 | ||||||
|
Computer, production, engineering and other equipment |
714.0 | 638.1 | ||||||
|
Software |
422.6 | 381.6 | ||||||
|
Furniture and fixtures |
82.2 | 71.7 | ||||||
|
Construction-in-progress |
19.9 | 107.1 | ||||||
|
|
|
|
|
|||||
| 2,139.3 | 1,960.5 | |||||||
|
Accumulated depreciation and amortization |
(968.4 | ) | (823.3 | ) | ||||
|
|
|
|
|
|||||
|
Property and equipment, net |
$ | 1,170.9 | $ | 1,137.2 | ||||
|
|
|
|
|
|||||
In fiscal 2012, we exercised our option under one of our synthetic leasing arrangements to early terminate the lease and purchase the facilities, including land and buildings, for $80.0 million, which had a fair value of $44.3 million at the date of purchase. In fiscal 2013, we exercised our options under our three remaining synthetic leasing arrangements to terminate the leases and purchase the related facilities, including land and buildings, for $69.6 million. The purchased facilities had an aggregate fair value of $88.4 million at the dates of the respective purchases. We had accounted for these leasing arrangements as operating leases. The difference between the estimated fair value of the facilities and their respective lease obligation had been accrued as additional rent expense in our consolidated statement of operations and as a residual value guarantee obligation in our consolidated balance sheets. The terminations did not result in a material impact to our operating results.
Software includes capitalized internal-use software development costs having a net book value as follows (in millions):
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Computer software |
$ | 162.5 | $ | 160.1 | ||||
|
|
|
|
|
|||||
Depreciation and amortization expense related to property and equipment, net is summarized below (in millions):
| Year Ended | ||||||||||||
| April 26, 2013 |
April 27, 2012 |
April 29, 2011 |
||||||||||
|
Depreciation and amortization expense |
$ | 258.8 | $ | 204.1 | $ | 147.9 | ||||||
Included in depreciation and amortization expense above is amortization related to computer software, as summarized below (in millions):
| Year Ended | ||||||||||||
| April 26, 2013 |
April 27, 2012 |
April 29, 2011 |
||||||||||
|
Computer software amortization expense |
$ | 76.7 | $ | 53.8 | $ | 37.9 | ||||||
Other non-current assets (in millions):
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Auction rate securities |
$ | 42.0 | $ | 51.0 | ||||
|
Deferred tax assets |
200.4 | 203.8 | ||||||
|
Other assets |
242.2 | 172.6 | ||||||
|
|
|
|
|
|||||
|
Other non-current assets |
$ | 484.6 | $ | 427.4 | ||||
|
|
|
|
|
|||||
Short-term and long-term deferred revenue (in millions):
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Product |
$ | 15.7 | $ | 25.7 | ||||
|
SEM and service |
2,993.8 | 2,790.2 | ||||||
|
|
|
|
|
|||||
|
Total |
$ | 3,009.5 | $ | 2,815.9 | ||||
|
|
|
|
|
|||||
|
Reported as: |
||||||||
|
Short-term |
$ | 1,563.3 | $ | 1,366.5 | ||||
|
Long-term |
1,446.2 | 1,449.4 | ||||||
|
|
|
|
|
|||||
|
Total |
$ | 3,009.5 | $ | 2,815.9 | ||||
|
|
|
|
|
|||||
Accumulated other comprehensive income (in millions):
The components of AOCI, net of related immaterial tax effects, were as follows:
| April 26, 2013 |
April 27, 2012 |
|||||||
|
Accumulated foreign currency translation adjustments |
$ | 2.0 | $ | 4.9 | ||||
|
Accumulated defined benefit obligation adjustments |
(5.7 | ) | (4.4 | ) | ||||
|
Accumulated unrealized gains on available-for-sale securities |
11.4 | 4.9 | ||||||
|
Accumulated unrealized gains (losses) on derivative instruments |
1.0 | (0.5 | ) | |||||
|
|
|
|
|
|||||
|
Total accumulated other comprehensive income |
$ | 8.7 | $ | 4.9 | ||||
|
|
|
|
|
|||||