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Stock Purchase and Award Plans (Tables) | 12 Months Ended
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Apr. 25, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | The following table presents the components and classification of stock-based compensation expense recognized for stock options, restricted stock, performance share units, and employee stock purchase plan (ESPP) in fiscal years 2025, 2024, and 2023:
| Fiscal Year
(in millions) | 2025 |  | 2024 |  | 2023
Stock options | $ | 66 |  |  | $ | 76 |  |  | $ | 77 |
Restricted stock | 216 |  |  | 184 |  |  | 166 |
Performance share units | 111 |  |  | 97 |  |  | 74 |
Employee stock purchase plan | 35 |  |  | 36 |  |  | 38 |
Total stock-based compensation expense | $ | 429 |  |  | $ | 393 |  |  | $ | 355 |
Cost of products sold | $ | 46 |  |  | $ | 35 |  |  | $ | 36 |
Research and development expense | 52 |  |  | 47 |  |  | 39 |
Selling, general, and administrative expense | 331 |  |  | 310 |  |  | 280 |
Total stock-based compensation expense | 429 |  |  | 393 |  |  | 355 |
Income tax benefits | (70) |  |  | (64) |  |  | (60) |
Total stock-based compensation expense, net of tax | $ | 358 |  |  | $ | 329 |  |  | $ | 295 |
Schedule of Stock Options Valuation Assumptions | The following table provides the weighted average fair value of options granted to employees and the related assumptions used in the Black-Scholes model:
| Fiscal Year
| 2025 |  | 2024 |  | 2023
Weighted average fair value of options granted | $ | 16.43 |  |  | $ | 18.49 |  |  | $ | 17.76 |
Assumptions used: |  |  |  |  |
Expected life (years) | 6.1 |  | 6.1 |  | 6.0
Risk-free interest rate | 4.07 | % |  | 4.16 | % |  | 2.70 | %
Volatility | 24.47 | % |  | 24.29 | % |  | 24.05 | %
Dividend yield | 3.48 | % |  | 3.18 | % |  | 2.92 | %
Schedule of Stock Options Activity | The following table summarizes stock option activity during fiscal year 2025:
| Options (in thousands) |  | Wtd. Avg. Exercise Price |  | Wtd. Avg. Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding at April 26, 2024 | 32,339 |  |  | $ | 93.32 |  |  |  |  |
Granted | 3,414 |  |  | 80.61 |  |  |  |  |
Exercised | (6,058) |  |  | 77.30 |  |  |  |  |
Expired/Forfeited/Cancelled | (1,928) |  |  | 96.31 |  |  |  |  |
Outstanding at April 25, 2025 | 27,766 |  |  | 95.04 |  |  | 5.2 |  | $ | 22 |
Expected to vest at April 25, 2025 | 7,764 |  |  | 88.49 |  |  | 8.3 |  | 14 |
Exercisable at April 25, 2025 | 19,467 |  |  | 97.93 |  |  | 3.9 |  | 7 |
The following table summarizes the total cash received from the issuance of new shares upon stock option award exercises, the total intrinsic value of options exercised, and the related tax benefit during fiscal years 2025, 2024, and 2023:
| Fiscal Year
(in millions) | 2025 |  | 2024 |  | 2023
Cash proceeds from options exercised | $ | 305 |  |  | $ | 78 |  |  | $ | 77 |
Intrinsic value of options exercised | 66 |  |  | 28 |  |  | 42 |
Tax benefit related to options exercised | 14 |  |  | 6 |  |  | 9 |
Schedule of Restricted Stock Activity | The following table summarizes restricted stock activity during fiscal year 2025:
| Units (in thousands) |  | Wtd. Avg. Grant Price
Nonvested at April 26, 2024 | 6,142 |  |  | $ | 92.57 |
Granted | 4,207 |  |  | 82.37 |
Vested | (2,068) |  |  | 99.19 |
Forfeited/Cancelled | (636) |  |  | 88.62 |
Nonvested at April 25, 2025 | 7,644 |  |  | 85.64 |
The following table summarizes the weighted-average grant date fair value of restricted stock granted, total fair value of restricted stock vested and related tax benefit during fiscal years 2025, 2024, and 2023:
| Fiscal Year
(in millions, except per share data) | 2025 |  | 2024 |  | 2023
Weighted-average grant-date fair value per restricted stock | $ | 82.37 |  |  | $ | 82.80 |  |  | $ | 91.83 |
Fair value of restricted stock vested | 205 |  |  | 186 |  |  | 256 |
Tax benefit related to restricted stock vested | 33 |  |  | 29 |  |  | 45 |
Schedule of Performance Share Unit Activity | The following table summarizes performance share unit activity during fiscal year 2025:
| Units (in thousands) |  | Wtd. Avg. Grant Price
Nonvested at April 26, 2024 | 2,422 |  |  | $ | 106.50 |
Granted | 1,444 |  |  | 98.49 |
Vested | (260) |  |  | 147.85 |
Performance adjustments (1) | (256) |  |  | 97.75 |
Forfeited/Cancelled | (209) |  |  | 103.56 |
Nonvested at April 25, 2025 | 3,141 |  |  | 100.51 |
(1)Performance adjustments are adjustments to grants where the performance period has ended and actual performance is known. The following table summarizes the weighted-average grant date fair value of performance share units granted, total fair value of performance share units vested and related tax benefit during fiscal year 2025, 2024, and 2023:
| Fiscal Year
(in millions, except per share data) | 2025 |  | 2024 |  | 2023
Weighted-average grant-date fair value per performance share units | $ | 98.49 |  |  | $ | 104.78 |  |  | $ | 98.17 |
Fair value of performance share units vested | 38 |  |  | 78 |  |  | — |
Tax benefit related to performance share units vested | 3 |  |  | 3 |  |  | — |

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