v2.4.1.9

Employee Benefit Plans (Tables)

9 Months Ended

Apr. 25, 2015

Compensation and Retirement Disclosure [Abstract]

Summary Of Share-Based Compensation Expense

Share-based compensation expense consists primarily of expenses for stock options, stock purchase rights, restricted stock, and restricted stock units granted to employees. The following table summarizes share-based compensation expense (in millions):

	Three Months Ended								Nine Months Ended
	April 25, 2015				April 26, 2014				April 25, 2015				April 26, 2014
Cost of sales—product	$	12			$	12			$	34			$	34
Cost of sales—service	44				39				115				112
Share-based compensation expense in cost of sales	56				51				149				146
Research and development	114				106				338				306
Sales and marketing	147				144				408				408
General and administrative	50				52				151				153
Restructuring and other charges	—				—				(2		)		(4		)
Share-based compensation expense in operating expenses	311				302				895				863
Total share-based compensation expense	$	367			$	353			$	1,044			$	1,009
Income tax benefit for share-based compensation	$	88			$	86			$	267			$	246

Summary Of Share-Based Awards Available For Grant

A summary of share-based awards available for grant is as follows (in millions):

	Share-Based Awards Available for Grant
BALANCE AT JULY 27, 2013	228
Restricted stock, stock units, and other share-based awards granted	(98	)
Share-based awards canceled/forfeited/expired	36
Additional shares reserved	135
Shares withheld for taxes and not issued	6
Other	3
BALANCE AT JULY 26, 2014	310
Restricted stock, stock units, and other share-based awards granted	(79	)
Share-based awards canceled/forfeited/expired	33
Shares withheld for taxes and not issued	23
Other	(2	)
BALANCE AT APRIL 25, 2015	285

Summary Of Restricted Stock And Stock Unit Activity

A summary of the restricted stock and stock unit activity, which includes time-based and performance-based or market-based restricted stock units, is as follows (in millions, except per-share amounts):

	Restricted Stock/ Stock Units			Weighted-Average Grant Date Fair Value per Share				Aggregated Fair Market Value
UNVESTED BALANCE AT JULY 27, 2013	143			$	18.80
Granted and assumed	72			20.85
Vested	(53	)		19.55				$	1,229
Canceled/forfeited	(13	)		18.61
UNVESTED BALANCE AT JULY 26, 2014	149			19.54
Granted and assumed	52			24.68
Vested	(46	)		19.57				$	1,191
Canceled/forfeited	(14	)		19.91
UNVESTED BALANCE AT APRIL 25, 2015	141			$	21.40

Summary Of Stock Option Activity

A summary of the stock option activity is as follows (in millions, except per-share amounts):

	STOCK OPTIONS OUTSTANDING
	Number Outstanding			Weighted-Average Exercise Price per Share
BALANCE AT JULY 27, 2013	276			$	24.44
Assumed from acquisitions	6			3.60
Exercised	(78	)		18.30
Canceled/forfeited/expired	(17	)		27.53
BALANCE AT JULY 26, 2014	187			26.03
Assumed from acquisitions	1			2.72
Exercised	(64	)		21.05
Canceled/forfeited/expired	(12	)		29.55
BALANCE AT APRIL 25, 2015	112			$	28.26

Summary Of Significant Ranges Of Outstanding And Exercisable Stock Options

The following table summarizes significant ranges of outstanding and exercisable stock options as of April 25, 2015 (in millions, except years and share prices):

		STOCK OPTIONS OUTSTANDING													STOCK OPTIONS EXERCISABLE
Range of Exercise Prices		Number Outstanding			Weighted- Average Remaining Contractual Life (in Years)		Weighted- Average Exercise Price per Share				Aggregate Intrinsic Value				Number Exercisable			Weighted- Average Exercise Price per Share				Aggregate Intrinsic Value
$   0.01 – 20.00		5			4.6		$	6.46			$	116			4			$	8.51			$	69
$ 20.01 – 25.00		24			0.6		22.99				140				24			22.99				140
$ 25.01 – 30.00		15			1.3		26.79				33				15			26.79				33
$ 30.01 – 35.00		68			1.3		32.16				—				68			32.16				—
Total		112			1.3		$	28.26			$	289			111			$	28.68			$	242

Schedule of Assumptions Used

The assumptions for the valuation of time-based RSUs and PRSUs are summarized as follows:

	RESTRICTED STOCK UNITS								PERFORMANCE RESTRICTED STOCK UNITS
Three Months Ended	April 25, 2015				April 26, 2014				April 25, 2015				April 26, 2014
Number of shares granted (in millions)	33				6				1				2
Grant date fair value per share	$	25.31			$	19.95			$	25.87			$	19.85
Weighted-average assumptions/inputs:
Expected dividend yield	2.8		%		3.1		%		3.0		%		3.5		%
Range of risk-free interest rates	0.0% – 1.4%				0.0% – 1.7%				0.0% – 1.4%				0.1% – 1.7%
Range of expected volatilities for index	N/A				N/A				N/A				N/A

	RESTRICTED STOCK UNITS								PERFORMANCE RESTRICTED STOCK UNITS
Nine Months Ended	April 25, 2015				April 26, 2014				April 25, 2015				April 26, 2014
Number of shares granted (in millions)	44				53				8				6
Grant date fair value per share	$	24.83			$	20.50			$	23.97			$	21.73
Weighted-average assumptions/inputs:
Expected dividend yield	2.9		%		3.1		%		3.0		%		2.7		%
Range of risk-free interest rates	0.0% – 1.8%				0.0% – 1.7%				0.0% – 1.8%				0.0% – 1.7%
Range of expected volatilities for index	N/A				N/A				14.4% – 70.0%				17.4% – 70.5%

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Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of share-based compensation plans that may be presented in a single table for outstanding, vested and expected to vest, and exercisable awards. The information that may be disclosed in this table may include, but is not limited to, number of shares, weighted average exercise price, weighted average remaining contractual life, and aggregate intrinsic value.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year.

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