Stockholders' Equity (Tables)

3 Months Ended

Jul. 26, 2013

Activity Related To Stock Options

The following table summarizes activity related to our stock options (in millions, except for exercise price and contractual term):

	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of April 26, 2013		19.2		$	31.27
Granted		2.4			37.63
Exercised		(2.3	)		25.17
Forfeited and expired		(0.2	)		44.39
Outstanding as of July 26, 2013		19.1			32.67		3.73	$	199.4
Vested and expected to vest as of July 26, 2013		18.4			32.50		3.63		195.6
Exercisable as of July 26, 2013		13.1			30.16		2.78		166.8

Additional Information Related to Stock Options

Additional information related to our stock options is summarized below (in millions, except per share information):

	Three Months Ended
	July 26, 2013		July 27, 2012
Weighted-average fair value per share granted	$	9.78	$	10.71
Intrinsic value of exercises	$	27.4	$	5.4
Proceeds received from exercises	$	56.8	$	6.7
Fair value of options vested	$	12.0	$	14.4

Activity Related to Restricted Stock Units (RSUs)

The following table summarizes activity related to our restricted stock units (RSUs) (in millions, except for fair value):

	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding as of April 26, 2013		12.8		$	38.36
Granted		4.6			38.16
Vested		(2.7	)		36.55
Forfeited		(0.6	)		39.93
Outstanding as of July 26, 2013		14.1			38.57

Number and Value of the Shares Netted For Employee Taxes

The number and value of the shares netted for employee taxes are summarized in the table below (in millions):

	Three Months Ended
	July 26, 2013		July 27, 2012
Shares withheld for taxes		0.9		0.7
Fair value of shares withheld	$	35.3	$	19.8

Schedule of Employee Stock Purchase Plan (ESPP) Disclosures

Information related to the purchase rights issued under the ESPP is provided below (in millions, except per right information):

	Three Months Ended
	July 26, 2013		July 27, 2012
Weighted-average fair value per right granted	$	10.53	$	10.25
Shares issued under the ESPP		2.0		1.9
Proceeds from issuance of shares	$	49.9	$	48.2

Stock-Based Compensation Expense

Stock-based compensation expense consists primarily of expenses for stock options, RSUs and ESPP and is included in the condensed consolidated statements of operations as follows (in millions):

	Three Months Ended
	July 26, 2013		July 27, 2012
Cost of product revenues	$	1.3	$	1.8
Cost of service revenues		4.0		5.6
Sales and marketing		30.5		39.0
Research and development		21.4		23.7
General and administrative		9.1		9.1
Total stock-based compensation expense	$	66.3	$	79.2

Income Tax Effects Associated with Employee Stock Transactions

Total income tax charges associated with employee stock transactions and recognized in stockholders’ equity were as follows (in millions):

	Three Months Ended
	July 26, 2013		July 27, 2012
Income tax charges associated with employee stock transactions	$	8.0	$	8.8

Valuation Assumptions - Stock Options

The fair value of each award is estimated on the grant date using the Black-Scholes option pricing model and the following weighted-average assumptions:

	Stock Options
	Three Months Ended
	July 26, 2013			July 27, 2012
Expected term in years		4.8			4.8
Risk-free interest rate		1.0	%		0.6	%
Volatility		34	%		41	%
Dividend yield		1.6	%		0.0	%

Valuation Assumptions - ESPP

	ESPP
	Three Months Ended
	July 26, 2013			July 27, 2012
Expected term in years		1.2			1.2
Risk-free interest rate		0.2	%		0.2	%
Volatility		32	%		38	%
Dividend yield		1.6	%		0.0	%

Valuation Assumptions - RSUs

The weighted-average assumptions used to value RSUs are summarized as follows:

	RSUs
	Three Months Ended
	July 26, 2013			July 27, 2012
Grant date fair value per share	$	38.16		$	29.03
Expected dividend		1.6	%		0.0	%

Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to this program for the three months ended July 26, 2013 (in millions, except per share information):

Number of shares purchased		21.7
Average price per share	$	39.20
Aggregate purchase price	$	849.5
Remaining authorization at end of period	$	2,156.8

Reconciliation of Retained Earnings

A reconciliation of retained earnings for the three months ended July 26, 2013 is as follows (in millions):

	Retained Earnings
Balance as of April 26, 2013	$	2,896.8
Net income		81.6
Repurchases of common stock		(613.7	)
Dividends		(51.4	)
Balance as of July 26, 2013	$	2,313.3

Accumulated Other Comprehensive Income (Loss) by Component Net of Tax

Changes in accumulated other comprehensive income (AOCI) by component, net of tax, are summarized below (in millions):

	Foreign Currency Translation Adjustments			Defined Benefit Obligation Adjustments			Unrealized Gains on Available- for-Sale Securities			Unrealized Gains (Losses) on Derivative Instruments			Total
Balance as of April 26, 2013	$	2.0		$	(5.7	)	$	11.4		$	1.0		$	8.7
Other comprehensive income (loss) (OCI) before reclassifications		(1.2	)		0.1			(7.4	)		(0.4	)		(8.9	)
Amounts reclassified from AOCI		0.0			0.0			(0.1	)		(1.0	)		(1.1	)
Net OCI		(1.2	)		0.1			(7.5	)		(1.4	)		(10.0	)
Balance as of July 26, 2013	$	0.8		$	(5.6	)	$	3.9		$	(0.4	)	$	(1.3	)

Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

The amounts reclassified out of AOCI are as follows (in millions):

	Three Months Ended
	July 26, 2013			July 27, 2012
OCI Components	Amounts Reclassified from AOCI						Statements of  Operations Location
Realized gains on available-for-sale securities	$	(0.1	)	$	(0.1	)		Other income, net
Realized gains on cash flow hedges		(1.0	)		(4.5	)		Net revenues
Total reclassifications	$	(1.1	)	$	(4.6	)