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Stockholders' Equity (Tables) | 3 Months Ended
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Jul. 27, 2018
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 27, 2018 |  |  | 1 |  |  | $ | 31.19 |  |  |  |  |  |  |  |  |
Outstanding as of July 27, 2018 |  |  | 1 |  |  | $ | 29.86 |  |  |  | 3.50 |  |  | $ | 40 |
Exercisable as of July 27, 2018 |  |  | 1 |  |  | $ | 32.23 |  |  |  | 3.05 |  |  | $ | 34 |
Additional Information Related to Stock Options | Additional information related to our stock options is summarized below (in millions):
|  | Three Months Ended |
|  | July 27, 2018 |  |  | July 28, 2017 |
Intrinsic value of exercises |  | $ | 15 |  |  | $ | 5 |
Proceeds received from exercises |  | $ | 13 |  |  | $ | 6 |
Fair value of options vested |  | $ | 1 |  |  | $ | 3 |
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 27, 2018 |  |  | 9 |  |  | $ | 32.91 |
Granted |  |  | 3 |  |  | $ | 62.42 |
Vested |  |  | (3 | ) |  | $ | 31.34 |
Forfeited |  |  | (1 | ) |  | $ | 31.62 |
Outstanding as of July 27, 2018 |  |  | 8 |  |  | $ | 43.43 |
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):
|  | Three Months Ended |
|  | July 27, 2018 |  |  | July 28, 2017 |
Shares withheld for taxes |  |  | 1 |  |  |  | 1 |
Fair value of shares withheld |  | $ | 84 |  |  | $ | 57 |
Schedule of Employee Stock Purchase Plan (ESPP) | The following table summarizes activity related to the purchase rights issued under the ESPP (in millions):
|  | Three Months Ended |
|  | July 27, 2018 |  |  | July 28, 2017 |
Shares issued under the ESPP |  |  | 2 |  |  |  | 2 |
Proceeds from issuance of shares |  | $ | 49 |  |  | $ | 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 |
|  | July 27, 2018 |  |  | July 28, 2017 |
Cost of product revenues |  | $ | 1 |  |  | $ | 1 |
Cost of hardware maintenance and other services revenues |  |  | 3 |  |  |  | 3 |
Sales and marketing |  |  | 17 |  |  |  | 21 |
Research and development |  |  | 12 |  |  |  | 15 |
General and administrative |  |  | 7 |  |  |  | 8 |
Total stock-based compensation expense |  | $ | 40 |  |  | $ | 48 |
Income tax benefit for stock-based compensation expense |  | $ | 5 |  |  | $ | 9 |
Summary of Activities Related to Stock Repurchase Program | The following table summarizes activity related to this program for the three months ended July 27, 2018 (in millions, except per share amounts):
Number of shares repurchased |  |  | 7 |
Average price per share |  | $ | 74.37 |
Aggregate purchase price |  | $ | 500 |
Remaining authorization at end of period |  | $ | 3,500 |
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):
|  | Three Months Ended |
|  | July 27, 2018 |  |  | July 28, 2017 |
Dividends per share declared |  | $ | 0.40 |  |  | $ | 0.20 |
Dividend payments allocated to additional paid-in capital |  | $ | 105 |  |  | $ | — |
Dividend payments allocated to retained earnings (accumulated deficit) |  | $ | — |  |  | $ | 54 |
Reconciliation of Retained Earnings (Accumulated Deficit) | A reconciliation of retained earnings (accumulated deficit) is as follows (in millions):
Balance as of April 27, 2018 |  | $ | (9 | )
Cumulative-effect of new accounting principle |  |  | (51 | )
Net income |  |  | 283 |
Repurchases of common stock |  |  | (223 | )
Balance as of July 27, 2018 |  | $ | — |

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