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Stockholders' Equity (Tables)

12 Months Ended

Apr. 28, 2017

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The following table summarizes information related to our stock options (in millions, except 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		15		$	34.10
Granted		2		$	36.64
Exercised		(5	)	$	25.25
Forfeited and expired		—		$	42.42
Outstanding as of April 24, 2015		12		$	37.74
Assumed in acquisition		2		$	5.20
Exercised		(2	)	$	19.64
Forfeited and expired		(3	)	$	38.27
Outstanding as of April 29, 2016		9		$	34.01
Exercised		(3	)	$	25.61
Forfeited and expired		(2	)	$	39.36
Outstanding as of April 28, 2017		4		$	35.76		3.25	$	31
Exercisable as of April 28, 2017		3		$	40.92		2.39	$	11

Additional Information Related to Stock Options

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

	Year Ended
	April 28, 2017		April 29, 2016		April 24, 2015
Intrinsic value of exercises	$	26	$	16	$	70
Proceeds received from exercises	$	60	$	27	$	117
Fair value of options vested	$	15	$	15	$	33

The following table summarizes information related to RSUs, including PBRSUs, (in millions, except for fair value):

	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding as of April 25, 2014		13		$	38.35
Granted		7		$	35.80
Vested		(5	)	$	40.14
Forfeited		(2	)	$	37.48
Outstanding as of April 24, 2015		13		$	36.58
Granted		7		$	29.26
Vested		(5	)	$	37.72
Forfeited		(2	)	$	34.85
Outstanding as of April 29, 2016		13		$	32.46
Granted		5		$	24.99
Vested		(5	)	$	32.03
Forfeited		(2	)	$	31.66
Outstanding as of April 28, 2017		11		$	28.81

Number and Value of Shares Netted for Employee Taxes

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

	Year Ended
	April 28, 2017		April 29, 2016		April 24, 2015
Shares withheld for taxes		2		2		2
Fair value of shares withheld	$	48	$	50	$	57

Schedule of Employee Stock Purchase Plan (ESPP)

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

	Year Ended
	April 28, 2017		April 29, 2016		April 24, 2015
Shares issued under the ESPP		4		3		3
Proceeds from issuance of shares	$	80	$	93	$	97

Stock-Based Compensation Expense

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

	Year Ended
	April 28, 2017		April 29, 2016		April 24, 2015
Cost of product revenues	$	4	$	5	$	6
Cost of hardware maintenance and other services revenues		13		19		16
Sales and marketing		84		110		116
Research and development		59		84		84
General and administrative		35		42		37
Total stock-based compensation expense	$	195	$	260	$	259
Income tax benefit for stock-based compensation	$	41	$	53	$	57

Summary of Valuation Assumptions

The valuation of stock options, RSUs and ESPP purchase rights and the underlying weighted-average assumptions are summarized as follows:

	Year Ended
	April 28, 2017			April 29, 2016			April 24, 2015
Stock options:
Expected term in years	N/A			N/A				4.8
Risk-free interest rate	N/A			N/A				1.6	%
Expected volatility	N/A			N/A				29	%
Expected dividend yield	N/A			N/A				1.8	%
Weighted-average fair value per share granted	N/A			N/A			$	8.24

RSUs:
Risk-free interest rate		1.0	%		0.6	%		0.6	%
Expected dividend yield		3.1	%		2.3	%		1.8	%
Weighted-average fair value per share granted	$	24.99		$	29.26		$	35.80

ESPP:
Expected term in years		1.2			1.2			1.3
Risk-free interest rate		0.8	%		0.5	%		0.2	%
Expected volatility		30	%		27	%		27	%
Expected dividend yield		3.1	%		2.3	%		1.8	%
Weighted-average fair value per right granted	$	7.85		$	8.18		$	9.81

N/A - Not applicable. No options were granted in fiscal years 2017 or 2016.

Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to this program (in millions, except per share amounts):

	Year Ended
	April 28, 2017		April 29, 2016		April 24, 2015
Number of shares repurchased		22		33		30
Average price per share	$	32.72	$	28.80	$	39.30
Aggregate purchase price	$	705	$	960	$	1,165
Remaining authorization at end of period	$	794	$	1,499	$	2,460

Summary of Activities Related to Dividends on Common Stock

The following is a summary of our fiscal 2017, 2016 and 2015 activities related to dividends on our common stock (in millions, except per share amounts).

	Year Ended
	April 28, 2017		April 29, 2016		April 24, 2015
Dividends per share declared	$	0.76	$	0.72	$	0.66
Dividend payments allocated to additional paid-in capital	$	88	$	125	$	52
Dividend payments allocated to retained earnings	$	120	$	85	$	156

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

Changes in AOCI by component, net of tax, are summarized below (in millions):

	Foreign Currency Translation Adjustments			Defined Benefit Obligation Adjustments			Unrealized Gains (Losses) on Available- for-Sale Securities			Unrealized Gains (Losses) on Derivative Instruments			Total
Balance as of April 24, 2015	$	(23	)	$	(13	)	$	11		$	1		$	(24	)
OCI before reclassifications, net of tax		4			(5	)		(4	)		(4	)		(9	)
Amounts reclassified from AOCI, net of tax		—			2			(1	)		1			2
Total OCI		4			(3	)		(5	)		(3	)		(7	)
Balance as of April 29, 2016		(19	)		(16	)		6			(2	)		(31	)
OCI before reclassifications, net of tax		(10	)		16			(6	)		8			8
Amounts reclassified from AOCI, net of tax		—			—			—			(6	)		(6	)
Total OCI		(10	)		16			(6	)		2			2
Balance as of April 28, 2017	$	(29	)	$	—		$	—		$	—		$	(29	)

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

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

	Year Ended
	April 28, 2017			April 29, 2016			April 24, 2015
	Amounts Reclassified from AOCI									Statements of Operations Location
Recognized losses on defined benefit obligations	$	1		$	2			—		Operating expenses
Realized gains on available-for-sale securities		—			(1	)		—		Other expense, net
Realized (gains) losses on cash flow hedges		(6	)		1			(14	)	Net revenues
Total reclassifications	$	(5	)	$	2		$	(14	)