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Stockholders' Equity (Tables) | 12 Months Ended
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Apr. 24, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Additional Information Related to Stock Options | Additional information related to our stock options is summarized below (in millions):
|  | Year Ended |
|  | April 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |
Intrinsic value of exercises |  | $ | 5 |  |  | $ | 31 |  |  | $ | 37 |
Proceeds received from exercises |  | $ | 4 |  |  | $ | 25 |  |  | $ | 88 |
Fair value of options vested |  | $ | 1 |  |  | $ | 2 |  |  | $ | 8 |
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 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 |
Granted |  |  | 4 |  |  | $ | 51.39 |
Vested |  |  | (4 | ) |  | $ | 38.87 |
Forfeited |  |  | (1 | ) |  | $ | 48.30 |
Outstanding as of April 24, 2020 |  |  | 7 |  |  | $ | 51.40 |
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 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |
Shares withheld for taxes |  |  | 1 |  |  |  | 1 |  |  |  | 2 |
Fair value of shares withheld |  | $ | 79 |  |  | $ | 96 |  |  | $ | 75 |
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 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |
Shares issued under the ESPP |  |  | 2 |  |  |  | 3 |  |  |  | 4 |
Proceeds from issuance of shares |  | $ | 98 |  |  | $ | 96 |  |  | $ | 85 |
Stock-Based Compensation Expense | Stock-based compensation expense is included in the consolidated statements of operations as follows (in millions):
|  | Year Ended |
|  | April 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |
Cost of product revenues |  | $ | 3 |  |  | $ | 4 |  |  | $ | 3 |
Cost of hardware maintenance and other services revenues |  |  | 10 |  |  |  | 10 |  |  |  | 10 |
Sales and marketing |  |  | 66 |  |  |  | 67 |  |  |  | 68 |
Research and development |  |  | 53 |  |  |  | 48 |  |  |  | 49 |
General and administrative |  |  | 21 |  |  |  | 29 |  |  |  | 31 |
Total stock-based compensation expense |  | $ | 153 |  |  | $ | 158 |  |  | $ | 161 |
Income tax benefit for stock-based compensation |  | $ | 15 |  |  | $ | 15 |  |  | $ | 29 |
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 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |
RSUs: |  |  |  |  |  |  |  |  |  |  |  |
Risk-free interest rate |  |  | 1.7 | % |  |  | 2.6 | % |  |  | 1.4 | %
Expected dividend yield |  |  | 2.9 | % |  |  | 2.4 | % |  |  | 2.0 | %
Weighted-average fair value per share granted |  | $ | 51.39 |  |  | $ | 63.40 |  |  | $ | 39.74 |
ESPP: |  |  |  |  |  |  |  |  |  |  |  |
Expected term in years |  |  | 1.2 |  |  |  | 1.2 |  |  |  | 1.2 |
Risk-free interest rate |  |  | 2.0 | % |  |  | 2.6 | % |  |  | 1.4 | %
Expected volatility |  |  | 33 | % |  |  | 31 | % |  |  | 28 | %
Expected dividend yield |  |  | 3.1 | % |  |  | 2.4 | % |  |  | 2.0 | %
Weighted-average fair value per right granted |  | $ | 10.15 |  |  | $ | 18.07 |  |  | $ | 12.34 |
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 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |
Number of shares repurchased |  |  | 25 |  |  |  | 29 |  |  |  | 15 |
Average price per share |  | $ | 56.34 |  |  | $ | 72.87 |  |  | $ | 51.57 |
Stock repurchases allocated to additional paid-in capital |  | $ | 625 |  |  | $ | 1,002 |  |  | $ | 568 |
Stock repurchases allocated to retained earnings (accumulated deficit) |  | $ | 786 |  |  | $ | 1,109 |  |  | $ | 226 |
Remaining authorization at end of period |  | $ | 477 |  |  | $ | 1,889 |  |  | $ | 4,000 |
Summary of Activities Related to Dividends on Common Stock | The following is a summary of our fiscal 2020, 2019 and 2018 activities related to dividends on our common stock (in millions, except per share amounts).
|  | Year Ended |
|  | April 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |
Dividends per share declared |  | $ | 1.92 |  |  | $ | 1.60 |  |  | $ | 0.80 |
Dividend payments allocated to additional paid-in capital |  | $ | 400 |  |  | $ | 403 |  |  | $ | 106 |
Dividend payments allocated to retained earnings |  | $ | 39 |  |  | $ | — |  |  | $ | 108 |
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 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 | )
OCI before reclassifications, net of tax |  |  | (8 | ) |  |  | 3 |  |  |  | 22 |  |  |  | 5 |  |  |  | 22 |
Amounts reclassified from AOCI, net of tax |  |  | — |  |  |  | (1 | ) |  |  | (14 | ) |  |  | (6 | ) |  |  | (21 | )
Total OCI |  |  | (8 | ) |  |  | 2 |  |  |  | 8 |  |  |  | (1 | ) |  |  | 1 |
Balance as of April 24, 2020 |  | $ | (42 | ) |  | $ | (1 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | (42 | )
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) | The amounts reclassified out of AOCI are as follows (in millions):
|  | Year Ended |  |  |
|  | April 24, 2020 |  |  | April 26, 2019 |  |  | April 27, 2018 |  |  |
|  | Amounts Reclassified from AOCI |  |  | Statements of Operations Classification
Recognized (gains) losses on defined benefit obligations |  | $ | (2 | ) |  | $ | (2 | ) |  |  | (2 | ) |  | Operating expenses
Realized gains on available-for-sale securities |  |  | (14 | ) |  |  | — |  |  |  | — |  |  | Other income (expense), net
Realized gains on cash flow hedges |  |  | (6 | ) |  |  | (1 | ) |  |  | — |  |  | Net revenues
Total reclassifications |  | $ | (22 | ) |  | $ | (3 | ) |  | $ | (2 | ) |  |

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