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Stockholders' Equity (Tables)
 12 Months Ended
Apr. 24, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
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 at April 27, 2012

 

 

20.6

 

 

$

29.98

 

 

 

 

 

 

 

 

 

Granted

 

 

2.4

 

 

$

28.87

 

 

 

 

 

 

 

 

 

Exercised

 

 

(3.0

)

 

$

18.37

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(0.8

)

 

$

40.11

 

 

 

 

 

 

 

 

 

Outstanding at April 26, 2013

 

 

19.2

 

 

$

31.27

 

 

 

 

 

 

 

 

 

Granted

 

 

2.9

 

 

$

38.26

 

 

 

 

 

 

 

 

 

Exercised

 

 

(6.3

)

 

$

25.83

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(1.3

)

 

$

42.47

 

 

 

 

 

 

 

 

 

Outstanding as of April 25, 2014

 

 

14.5

 

 

$

34.10

 

 

 

 

 

 

 

 

 

Granted

 

 

2.2

 

 

$

36.64

 

 

 

 

 

 

 

 

 

Exercised

 

 

(4.6

)

 

$

25.25

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(0.6

)

 

$

42.42

 

 

 

 

 

 

 

 

 

Outstanding as of April 24, 2015

 

 

11.5

 

 

$

37.74

 

 

 

3.70

 

 

$

29.8

 

Vested and expected to vest as of April 24, 2015

 

 

11.1

 

 

$

37.78

 

 

 

3.63

 

 

$

29.5

 

Exercisable as of April 24, 2015

 

 

7.9

 

 

$

38.32

 

 

 

2.89

 

 

$

26.1

 

 
Additional Information Related to Stock Options

Additional information related to our stock options is summarized below (in millions):

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

Intrinsic value of exercises

 

$

69.9

 

 

$

90.7

 

 

$

46.1

 

Proceeds received from exercises

 

$

116.6

 

 

$

163.7

 

 

$

56.5

 

Fair value of options vested

 

$

33.4

 

 

$

45.3

 

 

$

55.9

 

 
Activity Related to Restricted Stock Units (RSUs)

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

 

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Fair Value

 

Outstanding at April 27, 2012

 

 

12.0

 

 

$

43.28

 

Granted

 

 

6.0

 

 

$

29.94

 

Vested

 

 

(4.0

)

 

$

39.83

 

Forfeited

 

 

(1.2

)

 

$

40.95

 

Outstanding at April 26, 2013

 

 

12.8

 

 

$

38.36

 

Granted

 

 

6.5

 

 

$

38.61

 

Vested

 

 

(4.5

)

 

$

38.48

 

Forfeited

 

 

(1.6

)

 

$

39.08

 

Outstanding as of April 25, 2014

 

 

13.2

 

 

$

38.35

 

Granted

 

 

6.5

 

 

$

35.80

 

Vested

 

 

(4.7

)

 

$

40.14

 

Forfeited

 

 

(1.7

)

 

$

37.48

 

Outstanding as of April 24, 2015

 

 

13.3

 

 

$

36.58

 

 
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):

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

Shares withheld for taxes

 

 

1.5

 

 

 

1.5

 

 

 

1.3

 

Fair value of shares withheld

 

$

56.8

 

 

$

57.7

 

 

$

40.9

 

 
Schedule of Employee Stock Purchase Plan (ESPP) Disclosures

The following table summarizes activity related to the purchase rights issued under the ESPP (in millions):

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

Shares issued under the ESPP

 

 

3.4

 

 

 

3.8

 

 

 

3.8

 

Proceeds from issuance of shares

 

$

97.1

 

 

$

95.5

 

 

$

95.0

 

 
Stock-Based Compensation Expense

Stock-based compensation expense is included in the consolidated statements of operations as follows (in millions):

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

Cost of product revenues

 

$

5.8

 

 

$

5.6

 

 

$

6.1

 

Cost of hardware maintenance and other services revenues

 

 

16.0

 

 

 

16.7

 

 

 

19.4

 

Sales and marketing

 

 

116.5

 

 

 

125.0

 

 

 

132.2

 

Research and development

 

 

84.1

 

 

 

87.7

 

 

 

84.1

 

General and administrative

 

 

36.9

 

 

 

38.0

 

 

 

34.8

 

Total stock-based compensation expense

 

$

259.3

 

 

$

273.0

 

 

$

276.6

 

 
Income Tax Effects Associated with Employee Stock Transactions

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

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

Income tax benefit associated with employee stock transactions

 

$

56.9

 

 

$

40.5

 

 

$

53.8

 

 
Summary of Valuation Assumptions

The valuation of stock options, RSUs and ESPP purchase rights and the underlying weighted-average assumptions are summarized as follows:

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

Stock options:

 

 

 

 

 

 

 

 

 

 

 

 

Expected term in years

 

 

4.8

 

 

 

4.8

 

 

 

4.8

 

Risk-free interest rate

 

 

1.6

%

 

 

1.1

%

 

 

0.6

%

Expected volatility

 

 

29

%

 

 

34

%

 

 

41

%

Expected dividend yield

 

 

1.8

%

 

 

1.6

%

 

 

—

%

Weighted-average fair value per share granted

 

$

8.24

 

 

$

9.85

 

 

$

11.52

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs:

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

0.6

%

 

 

0.5

%

 

N/A

 

Expected dividend yield

 

 

1.8

%

 

 

1.6

%

 

 

—

%

Weighted-average fair value per share granted

 

$

35.80

 

 

$

38.61

 

 

$

29.94

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ESPP:

 

 

 

 

 

 

 

 

 

 

 

 

Expected term in years

 

 

1.3

 

 

 

1.2

 

 

 

1.2

 

Risk-free interest rate

 

 

0.2

%

 

 

0.2

%

 

 

0.2

%

Expected volatility

 

 

27

%

 

 

31

%

 

 

40

%

Expected dividend yield

 

 

1.8

%

 

 

1.6

%

 

 

—

%

Weighted-average fair value per right granted

 

$

9.81

 

 

$

10.83

 

 

$

10.36

 

 
Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to this program (in millions, except per share information):

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

Number of shares repurchased

 

 

29.6

 

 

 

47.3

 

 

 

18.1

 

Average price per share

 

$

39.30

 

 

$

39.78

 

 

$

32.68

 

Aggregate purchase price

 

$

1,165.2

 

 

$

1,881.5

 

 

$

590.0

 

Remaining authorization at end of period

 

$

2,459.5

 

 

$

1,124.8

 

 

$

1,406.3

 

 
Summary of Activities Related to Dividends on Common Stock

The following is a summary of our fiscal 2015 and 2014 activities related to dividends on our common stock (in millions, except per share amounts). No dividends were declared or paid in fiscal 2013.

 

 

 

Year Ended

 

 

 

April 24,

2015

 

 

April 25,

2014

 

Dividends per share declared

 

$

0.66

 

 

$

0.60

 

Dividend payments allocated to additional paid-in capital

 

$

52.0

 

 

$

50.4

 

Dividend payments allocated to retained earnings

 

$

155.4

 

 

$

151.9

 

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

Changes in 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

Derivatives

Instruments

 

 

Total

 

Balance as of April 26, 2013

 

$

2.0

 

 

$

(5.7

)

 

$

11.4

 

 

$

1.0

 

 

$

8.7

 

OCI before reclassifications, net of tax

 

 

3.5

 

 

 

0.5

 

 

 

(1.2

)

 

 

(3.5

)

 

 

(0.7

)

Amounts reclassified from AOCI, net of tax

 

 

—

 

 

 

0.4

 

 

 

(1.3

)

 

 

2.0

 

 

 

1.1

 

Total OCI

 

 

3.5

 

 

 

0.9

 

 

 

(2.5

)

 

 

(1.5

)

 

 

0.4

 

Balance as of April 25, 2014

 

 

5.5

 

 

 

(4.8

)

 

 

8.9

 

 

 

(0.5

)

 

 

9.1

 

OCI before reclassifications, net of tax

 

 

(28.3

)

 

 

(7.8

)

 

 

2.3

 

 

 

15.5

 

 

 

(18.3

)

Amounts reclassified from AOCI, net of tax

 

 

—

 

 

 

0.2

 

 

 

(0.3

)

 

 

(14.4

)

 

 

(14.5

)

Total OCI

 

 

(28.3

)

 

 

(7.6

)

 

 

2.0

 

 

 

1.1

 

 

 

(32.8

)

Balance as of April 24, 2015

 

$

(22.8

)

 

$

(12.4

)

 

$

10.9

 

 

$

0.6

 

 

$

(23.7

)

 
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

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

 

 

 

Year Ended

 

 

 

 

 

April 24,

2015

 

 

April 25,

2014

 

 

April 26,

2013

 

 

 

 

 

Amounts Reclassified from AOCI

 

 

Statements of

Operations Location

Recognized losses on defined benefit

    obligations

 

$

0.2

 

 

$

0.4

 

 

$

—

 

 

Operating expenses

Realized gains on available-for-sale

    securities

 

 

(0.3

)

 

 

(1.3

)

 

 

(0.6

)

 

Other income (expense), net

Realized (gains) losses on cash flow hedges

 

 

(14.4

)

 

 

2.0

 

 

 

(2.2

)

 

Net revenues

Total reclassifications

 

$

(14.5

)

 

$

1.1

 

 

$

(2.8

)