Income Taxes (Tables)

12 Months Ended

Apr. 25, 2014

Income Before Income Taxes

Income before income taxes is as follows (in millions):

	Year Ended
	April 25, 2014		April 26, 2013			April 27, 2012
Domestic	$	120.5	$	(63.8	)	$	211.9
Foreign		620.2		630.4			500.5
Total	$	740.7	$	566.6		$	712.4

Provision for Income Taxes

The provision for income taxes consists of the following (in millions):

	Year Ended
	April 25, 2014			April 26, 2013			April 27, 2012
Current:
Federal	$	123.7		$	85.3		$	114.8
State		14.6			14.6			26.2
Foreign		40.9			38.0			26.9
Total current		179.2			137.9			167.9
Deferred:
Federal		(64.8	)		(56.9	)		(61.5	)
State		(6.1	)		(17.8	)		(16.4	)
Foreign		(5.1	)		(1.9	)		17.0
Total deferred		(76.0	)		(76.6	)		(60.9	)
Provision for income taxes	$	103.2		$	61.3		$	107.0

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate as follows (in millions):

	Year Ended
	April 25, 2014			April 26, 2013			April 27, 2012
Tax computed at federal statutory rate	$	259.2		$	198.3		$	249.4
State income taxes, net of federal benefit		5.6			(2.0	)		6.4
Foreign earnings in lower tax jurisdictions		(163.3	)		(144.4	)		(162.2	)
Stock-based compensation		9.8			18.4			14.4
Research and experimentation credits		(8.7	)		(12.1	)		(10.9	)
Resolution of income tax examinations		0.0			0.1			7.3
Other		0.6			3.0			2.6
Provision for income taxes	$	103.2		$	61.3		$	107.0

Deferred Tax Assets and Liabilities

The components of our deferred tax assets and liabilities are as follows (in millions):

	April 25, 2014			April 26, 2013
Deferred tax assets:
Reserves and accruals	$	89.3		$	83.5
Acquired intangibles		22.3			12.3
Net operating loss and credit carryforwards		87.6			76.5
Stock-based compensation		73.3			81.9
Deferred revenue		318.9			311.6
Other		19.8			20.7
Gross deferred tax assets		611.2			586.5
Valuation allowance		(49.6	)		(39.8	)
Deferred tax assets, net of valuation allowance		561.6			546.7
Deferred tax liabilities:
Reserves and accruals		3.9			7.7
Acquired intangibles		10.0			6.0
Property and equipment		30.8			71.5
Convertible Notes		0.0			4.4
Other		2.6			4.1
Total deferred tax liabilities		47.3			93.7
Deferred tax assets, net of valuation allowance and deferred tax liabilities	$	514.3		$	453.0

Current and Noncurrent Net Deferred Tax Assets

Current and non-current net deferred tax assets are as follows (in millions):

	April 25, 2014		April 26, 2013
Current deferred tax assets, net	$	269.3	$	252.7
Non-current deferred tax assets, net		245.0		200.3

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):

	Year Ended
	April 25, 2014			April 26, 2013			April 27, 2012
Balance at beginning of period	$	189.6		$	161.0		$	133.3
Additions based on tax positions related to the current year		26.9			34.5			13.0
Additions for tax positions of prior years		23.8			1.0			22.1
Decreases for tax positions of prior years		(4.4	)		(6.9	)		(7.4	)
Balance at end of period	$	235.9		$	189.6		$	161.0