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Stockholders' Equity (Tables) | 9 Months Ended
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Jan. 26, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation Expense | Stock-based compensation expense is included in the condensed consolidated statements of income as follows (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | January 26, 2024 |  |  | January 27, 2023 |  |  | January 26, 2024 |  |  | January 27, 2023 |
Cost of product revenues |  | $ | 2 |  |  | $ | 2 |  |  | $ | 4 |  |  | $ | 4 |
Cost of services revenues |  |  | 5 |  |  |  | 6 |  |  |  | 17 |  |  |  | 14 |
Sales and marketing |  |  | 36 |  |  |  | 40 |  |  |  | 109 |  |  |  | 103 |
Research and development |  |  | 32 |  |  |  | 32 |  |  |  | 99 |  |  |  | 82 |
General and administrative |  |  | 14 |  |  |  | 13 |  |  |  | 40 |  |  |  | 35 |
Total stock-based compensation expense |  | $ | 89 |  |  | $ | 93 |  |  | $ | 269 |  |  | $ | 238 |
Summary of Activities Related to Stock Repurchase Program | The following table summarizes activity related to the stock repurchase program for the nine months ended January 26, 2024 (in millions, except for per share amounts):
Number of shares repurchased |  |  | 11 |
Average price per share |  | $ | 76.03 |
Stock repurchases allocated to additional paid-in capital |  | $ | 96 |
Stock repurchases allocated to retained earnings |  | $ | 704 |
Remaining authorization at end of period |  | $ | 602 |
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 26, 2024 |  |  | January 27, 2023 |
Dividends per share declared |  | $ | 1.50 |  |  | $ | 1.50 |
Dividend payments allocated to additional paid-in capital |  | $ | 171 |  |  | $ | 106 |
Dividend payments allocated to retained earnings |  | $ | 141 |  |  | $ | 220 |
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 Derivative Instruments |  |  | Total |
Balance as of April 28, 2023 |  | $ | (48 | ) |  | $ | (3 | ) |  | $ | — |  |  | $ | (51 | )
Other comprehensive income (loss), net of tax |  |  | (3 | ) |  |  | — |  |  |  | 1 |  |  |  | (2 | )
Amounts reclassified from AOCI, net of tax |  |  | — |  |  |  | — |  |  |  | (2 | ) |  |  | (2 | )
Total other comprehensive loss |  |  | (3 | ) |  |  | — |  |  |  | (1 | ) |  |  | (4 | )
Balance as of January 26, 2024 |  | $ | (51 | ) |  | $ | (3 | ) |  | $ | (1 | ) |  | $ | (55 | )
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 26, 2024 |  |  | January 27, 2023 |  |  | January 26, 2024 |  |  | January 27, 2023 |  |  | Statements of Income Classification
Realized losses (gains) on cash flow hedges |  | $ | 2 |  |  | $ | 6 |  |  | $ | (2 | ) |  | $ | 2 |  |  | Net revenues
Total reclassifications |  | $ | 2 |  |  | $ | 6 |  |  | $ | (2 | ) |  | $ | 2 |  |  |

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