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Stock-Based Compensation (Tables) | 12 Months Ended
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Jan. 31, 2021
Share-based Payment Arrangement [Abstract] |
Stock-based compensation expense, net of amounts capitalized as inventory | Our Consolidated Statements of Income include stock-based compensation expense, net of amounts allocated to inventory, as follows:
| Year Ended
| January 31, 2021 |  | January 26, 2020 |  | January 27, 2019
| (In millions)
Cost of revenue | $ | 88 |  |  | $ | 39 |  |  | $ | 27 |
Research and development | 860 |  |  | 540 |  |  | 336 |
Sales, general and administrative | 449 |  |  | 265 |  |  | 194 |
Total | $ | 1,397 |  |  | $ | 844 |  |  | $ | 557 |
Summary of equity awards | The following is a summary of equity awards granted under our equity incentive plans:
| Year Ended
| January 31, 2021 |  | January 26, 2020 |  | January 27, 2019
| (In millions, except per share data)
RSUs, PSUs and Market-based PSUs |  |  |  |  |
Awards granted | 9 |  |  | 7 |  |  | 4 |
Estimated total grant-date fair value | $ | 2,764 |  |  | $ | 1,282 |  |  | $ | 1,109 |
Weighted average grant-date fair value per share | $ | 307.25 |  |  | $ | 184.47 |  |  | $ | 258.26 |
ESPP |  |  |  |  |
Shares purchased | 1 |  |  | 1 |  |  | 1 |
Weighted average price per share | $ | 139.19 |  |  | $ | 148.76 |  |  | $ | 107.48 |
Weighted average grant-date fair value per share | $ | 67.65 |  |  | $ | 64.87 |  |  | $ | 38.51 |
Summary of ESPP valuation assumptions | The fair value of shares issued under our ESPP have been estimated with the following assumptions:
| Year Ended
| January 31, 2021 |  | January 26, 2020 |  | January 27, 2019
| (Using the Black-Scholes model)
ESPP |  |  |  |  |
Weighted average expected life (in years) | 0.1-2.0 |  | 0.1-2.0 |  | 0.1-2.0
Risk-free interest rate | 0.1%-1.6% |  | 1.5%-2.6% |  | 1.6%-2.8%
Volatility | 26%-89% |  | 30%-82% |  | 24%-75%
Dividend yield | 0.1%-0.3% |  | 0.3%-0.4% |  | 0.3%-0.4%
Schedule of equity award transactions | The following is a summary of our equity award transactions under our equity incentive plans:
| RSUs, PSUs and Market-based PSUs Outstanding
| Number of Shares |  | Weighted Average Grant-Date Fair Value
| (In millions, except years and per share data)
Balances, January 26, 2020 | 14 |  |  | $ | 176.72 |
Granted | 9 |  |  | $ | 307.25 |
Vested restricted stock | (7) |  |  | $ | 159.35 |
Canceled and forfeited | (1) |  |  | $ | 193.83 |
Balances, January 31, 2021 | 15 |  |  | $ | 264.69 |
Vested and expected to vest after January 31, 2021 | 14 |  |  | $ | 264.13 |

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