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Stockholders' Equity (Tables)
 9 Months Ended
Jan. 23, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Activity Related to Stock Options

The following table summarizes activity related to our stock options (in millions, except for exercise price and contractual term):

 

 

 

Number

of Shares

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual Term

(Years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding as of April 25, 2014

 

 

14.5

 

 

$

34.10

 

 

 

 

 

 

 

 

 

Granted

 

 

2.2

 

 

$

36.64

 

 

 

 

 

 

 

 

 

Exercised

 

 

(4.0

)

 

$

25.33

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(0.4

)

 

$

43.40

 

 

 

 

 

 

 

 

 

Outstanding as of January 23, 2015

 

 

12.3

 

 

$

37.03

 

 

 

3.85

 

 

$

62.6

 

Vested and expected to vest as of January 23, 2015

 

 

11.8

 

 

$

37.05

 

 

 

3.76

 

 

 

61.0

 

Exercisable as of January 23, 2015

 

 

8.1

 

 

$

37.23

 

 

 

2.91

 

 

 

48.3

 

 
Additional Information Related to Stock Options

Additional information related to our stock options is summarized below (in millions):

 

 

 

Nine Months Ended

 

 

 

January 23,

2015

 

 

January 24,

2014

 

Intrinsic value of exercises

 

$

61.2

 

 

$

81.3

 

Proceeds received from exercises

 

$

99.9

 

 

$

147.7

 

Fair value of options vested

 

$

26.3

 

 

$

36.0

 

 
Activity Related to Restricted Stock Units (RSUs)

The following table summarizes activity related to our restricted stock units (RSUs) (in millions, except for fair value):

 

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Fair Value

 

Outstanding as of April 25, 2014

 

 

13.2

 

 

$

38.35

 

Granted

 

 

6.3

 

 

 

35.80

 

Vested

 

 

(4.3

)

 

 

40.05

 

Forfeited

 

 

(1.3

)

 

 

37.71

 

Outstanding as of January 23, 2015

 

 

13.9

 

 

 

36.73

 

 
Number and Value of the Shares Netted for Employee Taxes

The number and value of the shares netted for employee taxes are summarized in the table below (in millions):

 

 

 

Nine Months Ended

 

 

 

January 23,

2015

 

 

January 24,

2014

 

Shares withheld for taxes

 

 

1.4

 

 

 

1.3

 

Fair value of shares withheld

 

$

51.4

 

 

$

51.4

 

 
Schedule of Employee Stock Purchase Plan (ESPP) Disclosures

The following table summarizes activity related to the purchase rights issued under the Employee Stock Purchase Plan (ESPP) (in millions):

 

 

 

Nine Months Ended

 

 

 

January 23,

2015

 

 

January 24,

2014

 

Shares issued under the ESPP

 

 

3.4

 

 

 

3.8

 

Proceeds from issuance of shares

 

$

97.1

 

 

$

95.5

 

 
Stock-Based Compensation Expense

Stock-based compensation expense is included in the condensed consolidated statements of operations as follows (in millions):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

January 23,

2015

 

 

January 24,

2014

 

 

January 23,

2015

 

 

January 24,

2014

 

Cost of product revenues

 

$

1.4

 

 

$

1.5

 

 

$

4.5

 

 

$

4.2

 

Cost of service revenues

 

 

4.0

 

 

 

4.6

 

 

 

12.4

 

 

 

12.8

 

Sales and marketing

 

 

29.6

 

 

 

33.0

 

 

 

87.0

 

 

 

94.6

 

Research and development

 

 

21.9

 

 

 

23.6

 

 

 

64.6

 

 

 

66.6

 

General and administrative

 

 

9.1

 

 

 

9.2

 

 

 

27.6

 

 

 

27.6

 

Total stock-based compensation expense

 

$

66.0

 

 

$

71.9

 

 

$

196.1

 

 

$

205.8

 

 
Income Tax Effects Associated with Employee Stock Transactions

Total income tax benefit associated with employee stock transactions and recognized in stockholders’ equity were as follows (in millions):

 

 

 

Nine Months Ended

 

 

 

January 23,

2015

 

 

January 24,

2014

 

Income tax benefit associated with employee stock transactions

 

$

54.0

 

 

$

22.5

 

 
Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to this program for the nine months ended January 23, 2015 (in millions, except per share information):

 

Number of shares repurchased

 

 

23.1

 

Average price per share

 

$

39.73

 

Aggregate purchase price

 

$

918.9

 

Remaining authorization at end of period

 

$

205.9

 

 
Summary of Activities Related to Dividends on Common Stock

The following is a summary of our activities related to dividends on our common stock (in millions, except per share amounts):

 

 

 

Nine Months Ended

 

 

 

January 23,

2015

 

 

January 24,

2014

 

Dividends per share declared and paid

 

$

0.495

 

 

$

0.450

 

Dividend payments allocated to additional paid-in capital

 

$

52.1

 

 

$

50.4

 

Dividend payments allocated to retained earnings

 

$

104.8

 

 

$

102.7

 

 
Reconciliation of Retained Earnings

A reconciliation of retained earnings for the nine months ended January 23, 2015 is as follows (in millions):

 

Balance as of April 25, 2014

 

$

1.1

 

Net income

 

 

425.0

 

Repurchases of common stock

 

 

(251.5

)

Dividends

 

 

(104.8

)

Balance as of January 23, 2015

 

$

69.8

 

 
Accumulated Other Comprehensive Income (Loss) by Component Net of Tax

Changes in accumulated other comprehensive income (AOCI) by component, net of tax, for the nine months ended January 23, 2015 are summarized below (in millions):

 

 

 

Foreign

Currency

Translation

Adjustments

 

 

Defined

Benefit

Obligation

Adjustments

 

 

Unrealized

Gains on

Available-

for-Sale

Securities

 

 

Unrealized

Gains

(Losses) on

Derivatives

Instruments

 

 

Total

 

Balance as of April 25, 2014

 

$

5.5

 

 

$

(4.8

)

 

$

8.9

 

 

$

(0.5

)

 

$

9.1

 

Other comprehensive income (loss) (OCI)

   before reclassifications, net of tax

 

 

(26.9

)

 

 

1.1

 

 

 

(1.4

)

 

 

13.1

 

 

 

(14.1

)

Amounts reclassified from AOCI, net of tax

 

 

—

 

 

 

0.3

 

 

 

(0.1

)

 

 

(9.5

)

 

 

(9.3

)

Net OCI

 

 

(26.9

)

 

 

1.4

 

 

 

(1.5

)

 

 

3.6

 

 

 

(23.4

)

Balance as of January 23, 2015

 

$

(21.4

)

 

$

(3.4

)

 

$

7.4

 

 

$

3.1

 

 

$

(14.3

)

 
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

The amounts reclassified out of AOCI are as follows (in millions):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

 

January 23,

2015

 

 

January 24,

2014

 

 

January 23,

2015

 

 

January 24,

2014

 

 

 

 

 

Amounts Reclassified from AOCI

 

 

Amounts Reclassified from AOCI

 

 

Statements of

Operations Location

Recognized losses on defined benefit

    obligations

 

$

0.1

 

 

$

—

 

 

$

0.3

 

 

$

—

 

 

Operating expenses

Realized gains on available-for-sale

    securities

 

 

(0.3

)

 

 

—

 

 

 

(0.1

)

 

 

(1.1

)

 

Other income (expense), net

Realized (gains) losses on cash flow hedges

 

 

(15.7

)

 

 

(0.2

)

 

 

(9.5

)

 

 

1.2

 

 

Net revenues

Total reclassifications

 

$

(15.9

)

 

$

(0.2

)

 

$

(9.3

)

 

$

0.1