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Stockholders' Equity (Tables)

12 Months Ended

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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