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Income Taxes (Tables)

12 Months Ended

Apr. 24, 2015

Income Tax Disclosure [Abstract]

Income Before Income Taxes

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

		Year Ended
		April 24, 2015				April 25, 2014				April 26, 2013
Domestic		$	252.9			$	120.5			$	(63.8	)
Foreign			459.9				620.2				630.4
Total		$	712.8			$	740.7			$	566.6

Provision for Income Taxes

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

		Year Ended
		April 24, 2015				April 25, 2014				April 26, 2013
Current:
Federal		$	103.6			$	123.7			$	85.3
State			11.7				14.6				14.6
Foreign			40.3				40.9				38.0
Total current			155.6				179.2				137.9
Deferred:
Federal			8.0				(64.8	)			(56.9	)
State			(3.3	)			(6.1	)			(17.8	)
Foreign			(7.4	)			(5.1	)			(1.9	)
Total deferred			(2.7	)			(76.0	)			(76.6	)
Provision for income taxes		$	152.9			$	103.2			$	61.3

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate as follows (in millions):

		Year Ended
		April 24, 2015				April 25, 2014				April 26, 2013
Tax computed at federal statutory rate		$	249.5			$	259.2			$	198.3
State income taxes, net of federal benefit			5.4				5.6				(2.0	)
Foreign earnings in lower tax jurisdictions			(141.0	)			(163.3	)			(144.4	)
Stock-based compensation			5.5				9.8				18.4
Research and experimentation credits			(13.7	)			(8.7	)			(12.1	)
Resolution of income tax examinations			46.4				—				0.1
Other			0.8				0.6				3.0
Provision for income taxes		$	152.9			$	103.2			$	61.3

Deferred Tax Assets and Liabilities

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

		April 24, 2015				April 25, 2014
Deferred tax assets:
Reserves and accruals		$	94.3			$	89.3
Acquired intangibles			43.8				22.3
Net operating loss and credit carryforwards			79.6				87.6
Stock-based compensation			70.4				73.3
Deferred revenue			297.7				318.9
Other			27.0				19.8
Gross deferred tax assets			612.8				611.2
Valuation allowance			(57.7	)			(49.6	)
Deferred tax assets, net of valuation allowance			555.1				561.6
Deferred tax liabilities:
Reserves and accruals			4.0				3.9
Acquired intangibles			13.7				10.0
Property and equipment			26.3				30.8
Other			3.5				2.6
Total deferred tax liabilities			47.5				47.3
Deferred tax assets, net of valuation allowance and deferred tax liabilities		$	507.6			$	514.3

Net Deferred Tax Assets

Net deferred tax assets consist of the following (in millions):

		April 24, 2015				April 25, 2014
Current deferred tax assets, net		$	251.7			$	269.3
Non-current deferred tax assets, net		$	255.9			$	245.0

Unrecognized Tax Benefits

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

		Year Ended
		April 24, 2015				April 25, 2014				April 26, 2013
Balance at beginning of period		$	235.9			$	189.6			$	161.0
Additions based on tax positions related to the current year			21.7				26.9				34.5
Additions for tax positions of prior years			101.2				23.8				1.0
Decreases for tax positions of prior years			(29.3	)			(4.4	)			(6.9	)
Settlements			(57.6	)			—				—
Balance at end of period		$	271.9			$	235.9			$	189.6

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

The tax years that remain subject to examination for our major tax jurisdictions are shown below:

Fiscal Years Subject to Examination for Major Tax Jurisdictions at April 24, 2015

2008 — 2015		United States — federal income tax
2008 — 2015		United States — state and local income tax
2011 — 2015		Australia
2009 — 2015		Germany
2006 — 2015		India
2009 — 2015		Japan
2011 — 2015		The Netherlands
2013 — 2015		United Kingdom
2008 — 2015		Canada

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