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Stockholders' Equity (Tables)
 6 Months Ended
Oct. 27, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Activity Related to Stock Options

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 28, 2017

 

 

4

 

 

$

35.76

 

 

 

 

 

 

 

 

 

Exercised

 

 

(1

)

 

$

24.14

 

 

 

 

 

 

 

 

 

Outstanding as of October 27, 2017

 

 

3

 

 

$

37.30

 

 

 

2.77

 

 

$

29

 

Exercisable as of October 27, 2017

 

 

3

 

 

$

40.97

 

 

 

2.14

 

 

$

16

 

 
Additional Information Related to Stock Options

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

 

 

 

Six Months Ended

 

 

 

October 27,

2017

 

 

October 28,

2016

 

Intrinsic value of exercises

 

$

11

 

 

$

11

 

Proceeds received from exercises

 

$

15

 

 

$

20

 

Fair value of options vested

 

$

5

 

 

$

9

 

 
Activity Related to Restricted Stock Units Including Performance-Based Restricted Stock Units

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

 

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Fair Value

 

Outstanding as of April 28, 2017

 

 

11

 

 

$

28.81

 

Granted

 

 

4

 

 

$

38.61

 

Vested

 

 

(4

)

 

$

31.29

 

Forfeited

 

 

(1

)

 

$

28.30

 

Outstanding as of October 27, 2017

 

 

10

 

 

$

31.73

 

 
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):

 

 

 

Six Months Ended

 

 

 

October 27,

2017

 

 

October 28,

2016

 

Shares withheld for taxes

 

 

2

 

 

 

1

 

Fair value of shares withheld

 

$

60

 

 

$

36

 

 
Schedule of Employee Stock Purchase Plan (ESPP)

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

 

 

 

Six Months Ended

 

 

 

October 27,

2017

 

 

October 28,

2016

 

Shares issued under the ESPP

 

 

2

 

 

 

2

 

Proceeds from issuance of shares

 

$

42

 

 

$

42

 

 
Stock-Based Compensation Expense

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

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

October 27,

2017

 

 

October 28,

2016

 

 

October 27,

2017

 

 

October 28,

2016

 

Cost of product revenues

 

$

1

 

 

$

1

 

 

$

2

 

 

$

2

 

Cost of hardware maintenance and other services revenues

 

 

2

 

 

 

3

 

 

 

5

 

 

 

7

 

Sales and marketing

 

 

16

 

 

 

21

 

 

 

37

 

 

 

44

 

Research and development

 

 

12

 

 

 

17

 

 

 

27

 

 

 

32

 

General and administrative

 

 

8

 

 

 

9

 

 

 

16

 

 

 

18

 

Total stock-based compensation expense

 

$

39

 

 

$

51

 

 

$

87

 

 

$

103

 

Income tax benefit for stock-based compensation

 

$

9

 

 

$

11

 

 

$

18

 

 

$

20

 

 
Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to this program for the six months ended October 27, 2017 (in millions, except per share amounts):

 

Number of shares repurchased

 

 

7

 

Average price per share

 

$

41.80

 

Aggregate purchase price

 

$

300

 

Remaining authorization at end of period

 

$

494

 

 
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):

 

 

 

Six Months Ended

 

 

 

October 27,

2017

 

 

October 28,

2016

 

Dividends per share declared

 

$

0.40

 

 

$

0.38

 

Dividend payments allocated to additional paid-in capital

 

$

—

 

 

$

76

 

Dividend payments allocated to retained earnings

 

$

108

 

 

$

29

 

 
Reconciliation of Retained Earnings

A reconciliation of retained earnings is as follows (in millions):

 

Balance as of April 28, 2017

 

$

40

 

Net income

 

 

311

 

Repurchases of common stock

 

 

(226

)

Dividends

 

 

(108

)

Balance as of October 27, 2017

 

$

17

 

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

Changes in accumulated other comprehensive income (loss) by component, net of tax, are summarized below (in millions):

 

 

 

Foreign

Currency

Translation

Adjustments

 

 

Unrealized

Gains

(Losses) on

Available-

for-Sale

Securities

 

 

Total

 

Balance as of April 28, 2017

 

$

(29

)

 

$

—

 

 

$

(29

)

Other comprehensive income, net of tax

 

 

8

 

 

 

2

 

 

 

10

 

Balance as of October 27, 2017

 

$

(21

)

 

$

2

 

 

$

(19

)

 
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

The amounts reclassified out of accumulated other comprehensive income (loss) are as follows (in millions):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

 

October 27,

2017

 

 

October 28,

2016

 

 

October 27,

2017

 

 

October 28,

2016

 

 

 

 

 

Amounts Reclassified from AOCI

 

 

Amounts Reclassified from AOCI

 

 

Statements of

Operations Classification

Recognized (gains) losses on defined benefit

    obligations

 

$

(1

)

 

$

1

 

 

$

(1

)

 

$

1

 

 

Operating expenses

Realized gains on cash flow hedges

 

 

—

 

 

 

(1

)

 

 

—

 

 

 

(1

)

 

Net revenues

Total reclassifications

 

$

(1

)

 

$

—

 

 

$

(1

)

 

$

—