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Stockholders' Equity (Tables) | 9 Months Ended
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Jan. 29, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Information Related to Stock Options | Information related to our stock options is summarized below (in millions):
|  | Nine Months Ended |
|  | January 29, 2021 |  |  | January 24, 2020 |
Intrinsic value of exercises |  | $ | 4 |  |  | $ | 4 |
Proceeds received from exercises |  | $ | 2 |  |  | $ | 4 |
Fair value of options vested |  | $ | 4 |  |  | $ | 1 |
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 24, 2020 |  |  | 7 |  |  | $ | 51.40 |
Granted |  |  | 5 |  |  | $ | 40.94 |
Vested |  |  | (2 | ) |  | $ | 44.68 |
Forfeited |  |  | (1 | ) |  | $ | 51.53 |
Outstanding as of January 29, 2021 |  |  | 9 |  |  | $ | 47.05 |
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):
|  | Nine Months Ended |
|  | January 29, 2021 |  |  | January 24, 2020 |
Shares withheld for taxes |  |  | 1 |  |  |  | 1 |
Fair value of shares withheld |  | $ | 38 |  |  | $ | 77 |
Schedule of Employee Stock Purchase Plan (ESPP) | The following table summarizes activity related to the purchase rights issued under the ESPP (in millions):
|  | Nine Months Ended |
|  | January 29, 2021 |  |  | January 24, 2020 |
Shares issued under the ESPP |  |  | 2 |  |  |  | 2 |
Proceeds from issuance of shares |  | $ | 90 |  |  | $ | 98 |
Stock-Based Compensation Expense | Stock-based compensation expense is included in the condensed consolidated statements of operations as follows (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | January 29, 2021 |  |  | January 24, 2020 |  |  | January 29, 2021 |  |  | January 24, 2020 |
Cost of product revenues |  | $ | 1 |  |  | $ | 1 |  |  | $ | 3 |  |  | $ | 3 |
Cost of hardware maintenance and other services revenues |  |  | 2 |  |  |  | 2 |  |  |  | 7 |  |  |  | 7 |
Sales and marketing |  |  | 21 |  |  |  | 15 |  |  |  | 70 |  |  |  | 50 |
Research and development |  |  | 15 |  |  |  | 13 |  |  |  | 49 |  |  |  | 41 |
General and administrative |  |  | 7 |  |  |  | 5 |  |  |  | 20 |  |  |  | 17 |
Total stock-based compensation expense |  | $ | 46 |  |  | $ | 36 |  |  | $ | 149 |  |  | $ | 118 |
Income tax benefit for stock-based compensation expense |  | $ | 4 |  |  | $ | 3 |  |  | $ | 12 |  |  | $ | 11 |
Summary of Activities Related to Stock Repurchase Program | The following table summarized activity related to the stock repurchase program for the nine months ended January 29, 2021 (in millions, except for per share amounts):
Number of shares repurchased |  |  | 1 |
Average price per share |  | $ | 64.78 |
Stock repurchases allocated to additional paid-in capital |  | $ | 1 |
Stock repurchases allocated to retained earnings |  | $ | 49 |
Remaining authorization at end of period |  | $ | 427 |
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):
|  | Nine Months Ended |
|  | January 29, 2021 |  |  | January 24, 2020 |
Dividends per share declared |  | $ | 1.44 |  |  | $ | 1.44 |
Dividend payments allocated to additional paid-in capital |  | $ | 30 |  |  | $ | 334 |
Dividend payments allocated to retained earnings |  | $ | 291 |  |  | $ | — |
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 24, 2020 |  | $ | (42 | ) |  | $ | (1 | ) |  | $ | 1 |  |  | $ | — |  |  | $ | (42 | )
Other comprehensive income (loss), net of tax |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | (13 | ) |  |  | (3 | )
Amounts reclassified from AOCI, net of tax |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | 11 |
Total other comprehensive income (loss) |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | 8 |
Balance as of January 29, 2021 |  | $ | (32 | ) |  | $ | (1 | ) |  | $ | 1 |  |  | $ | (2 | ) |  | $ | (34 | )
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) | The amounts reclassified out of AOCI are as follows (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |  |  |
|  | January 29, 2021 |  |  | January 24, 2020 |  |  | January 29, 2021 |  |  | January 24, 2020 |  |  | Statements of Operations Classification
Recognized gains on defined benefit obligations |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | (2 | ) |  | Operating expenses
Realized gains on available-for-sale securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (14 | ) |  | Other income (expense), net
Realized losses on cash flow hedges |  |  | 3 |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  | Net revenues
Total reclassifications |  | $ | 3 |  |  | $ | (1 | ) |  | $ | 11 |  |  | $ | (16 | ) |  |

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