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Stockholders' Equity (Tables) | 12 Months Ended
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Apr. 26, 2019
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 |
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 |
Exercised |  |  | (2 | ) |  | $ | 36.99 |
Forfeited and expired |  |  | (1 | ) |  | $ | 40.50 |
Outstanding as of April 27, 2018 |  |  | 1 |  |  | $ | 31.19 |
Exercised |  |  | (1 | ) |  | $ | 32.50 |
Forfeited and expired |  |  | — |  |  | N/A |
Outstanding as of April 26, 2019 |  |  | — |  |  | N/A |
Exercisable as of April 26, 2019 |  |  | — |  |  | N/A |
Additional Information Related to Stock Options | Additional information related to our stock options is summarized below (in millions):
|  | Year Ended |
|  | April 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |
Intrinsic value of exercises |  | $ | 31 |  |  | $ | 37 |  |  | $ | 26 |
Proceeds received from exercises |  | $ | 25 |  |  | $ | 88 |  |  | $ | 60 |
Fair value of options vested |  | $ | 2 |  |  | $ | 8 |  |  | $ | 15 |
Activity Related to Restricted Stock Units Including Performance-Based Restricted Stock Units | 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 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 |
Granted |  |  | 4 |  |  | $ | 39.74 |
Vested |  |  | (5 | ) |  | $ | 30.59 |
Forfeited |  |  | (1 | ) |  | $ | 29.54 |
Outstanding as of April 27, 2018 |  |  | 9 |  |  | $ | 32.91 |
Granted |  |  | 3 |  |  | $ | 63.40 |
Vested |  |  | (3 | ) |  | $ | 32.02 |
Forfeited |  |  | (1 | ) |  | $ | 36.61 |
Outstanding as of April 26, 2019 |  |  | 8 |  |  | $ | 45.68 |
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 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |
Shares withheld for taxes |  |  | 1 |  |  |  | 2 |  |  |  | 2 |
Fair value of shares withheld |  | $ | 96 |  |  | $ | 75 |  |  | $ | 48 |
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 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |
Shares issued under the ESPP |  |  | 3 |  |  |  | 4 |  |  |  | 4 |
Proceeds from issuance of shares |  | $ | 96 |  |  | $ | 85 |  |  | $ | 80 |
Stock-Based Compensation Expense | Stock-based compensation expense is included in the consolidated statements of operations as follows (in millions):
|  | Year Ended |
|  | April 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |
Cost of product revenues |  | $ | 4 |  |  | $ | 3 |  |  | $ | 4 |
Cost of hardware maintenance and other services revenues |  |  | 10 |  |  |  | 10 |  |  |  | 13 |
Sales and marketing |  |  | 67 |  |  |  | 68 |  |  |  | 84 |
Research and development |  |  | 48 |  |  |  | 49 |  |  |  | 59 |
General and administrative |  |  | 29 |  |  |  | 31 |  |  |  | 35 |
Total stock-based compensation expense |  | $ | 158 |  |  | $ | 161 |  |  | $ | 195 |
Income tax benefit for stock-based compensation |  | $ | 15 |  |  | $ | 29 |  |  | $ | 41 |
Summary of Valuation Assumptions | The valuation of RSUs and ESPP purchase rights and the underlying weighted-average assumptions are summarized as follows:
|  | Year Ended |
|  | April 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |
RSUs: |  |  |  |  |  |  |  |  |  |  |  |
Risk-free interest rate |  |  | 2.6 | % |  |  | 1.4 | % |  |  | 1.0 | %
Expected dividend yield |  |  | 2.4 | % |  |  | 2.0 | % |  |  | 3.1 | %
Weighted-average fair value per share granted |  | $ | 63.40 |  |  | $ | 39.74 |  |  | $ | 24.99 |
ESPP: |  |  |  |  |  |  |  |  |  |  |  |
Expected term in years |  |  | 1.2 |  |  |  | 1.2 |  |  |  | 1.2 |
Risk-free interest rate |  |  | 2.6 | % |  |  | 1.4 | % |  |  | 0.8 | %
Expected volatility |  |  | 31 | % |  |  | 28 | % |  |  | 30 | %
Expected dividend yield |  |  | 2.4 | % |  |  | 2.0 | % |  |  | 3.1 | %
Weighted-average fair value per right granted |  | $ | 18.07 |  |  | $ | 12.34 |  |  | $ | 7.85 |
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 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |
Number of shares repurchased |  |  | 29 |  |  |  | 15 |  |  |  | 22 |
Average price per share |  | $ | 72.87 |  |  | $ | 51.57 |  |  | $ | 32.72 |
Aggregate purchase price |  | $ | 2,111 |  |  | $ | 794 |  |  | $ | 705 |
Remaining authorization at end of period |  | $ | 1,889 |  |  | $ | 4,000 |  |  | $ | 794 |
Summary of Activities Related to Dividends on Common Stock | The following is a summary of our fiscal 2019, 2018 and 2017 activities related to dividends on our common stock (in millions, except per share amounts).
|  | Year Ended |
|  | April 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |
Dividends per share declared |  | $ | 1.60 |  |  | $ | 0.80 |  |  | $ | 0.76 |
Dividend payments allocated to additional paid-in capital |  | $ | 403 |  |  | $ | 106 |  |  | $ | 88 |
Dividend payments allocated to retained earnings (accumulated deficit) |  | $ | — |  |  | $ | 108 |  |  | $ | 120 |
Accumulated Other Comprehensive Income (Loss) by Component Net of Tax | Changes in accumulated other comprehensive income (loss) (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 28, 2017 |  | $ | (29 | ) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (29 | )
OCI before reclassifications, net of tax |  |  | 2 |  |  |  | 1 |  |  |  | (43 | ) |  |  | — |  |  |  | (40 | )
Amounts reclassified from AOCI, net of tax |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | (1 | )
Total OCI |  |  | 2 |  |  |  | — |  |  |  | (43 | ) |  |  | — |  |  |  | (41 | )
Balance as of April 27, 2018 |  |  | (27 | ) |  |  | — |  |  |  | (43 | ) |  |  | — |  |  |  | (70 | )
OCI before reclassifications, net of tax |  |  | (7 | ) |  |  | (2 | ) |  |  | 36 |  |  |  | 2 |  |  |  | 29 |
Amounts reclassified from AOCI, net of tax |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1 | ) |  |  | (2 | )
Total OCI |  |  | (7 | ) |  |  | (3 | ) |  |  | 36 |  |  |  | 1 |  |  |  | 27 |
Balance as of April 26, 2019 |  | $ | (34 | ) |  | $ | (3 | ) |  | $ | (7 | ) |  | $ | 1 |  |  | $ | (43 | )
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) | The amounts reclassified out of AOCI are as follows (in millions):
|  | Year Ended |  |  |
|  | April 26, 2019 |  |  | April 27, 2018 |  |  | April 28, 2017 |  |  |
|  | Amounts Reclassified from AOCI |  |  | Statements of Operations Classification
Recognized (gains) losses on defined benefit obligations |  | $ | (2 | ) |  | $ | (2 | ) |  |  | 1 |  |  | Operating expenses
Realized gains on cash flow hedges |  |  | (1 | ) |  |  | — |  |  |  | (6 | ) |  | Net revenues
Total reclassifications |  | $ | (3 | ) |  | $ | (2 | ) |  | $ | (5 | ) |  |

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