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Stockholders' Equity (Tables)
 9 Months Ended
Jan. 27, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Activity Related to Stock Options

The following table summarizes information related to our stock options (in millions, except 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 29, 2016

 

 

9

 

 

$

34.01

 

 

 

 

 

 

 

 

 

Exercised

 

 

(2

)

 

$

22.13

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(2

)

 

$

39.44

 

 

 

 

 

 

 

 

 

Outstanding as of January 27, 2017

 

 

5

 

 

$

35.01

 

 

 

3.42

 

 

$

33

 

Exercisable as of January 27, 2017

 

 

4

 

 

$

40.19

 

 

 

2.50

 

 

$

10

 

 
Additional Information Related to Stock Options

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

 

 

 

Nine Months Ended

 

 

 

January 27,

2017

 

 

January 29,

2016

 

Intrinsic value of exercises

 

$

18

 

 

$

12

 

Proceeds received from exercises

 

$

33

 

 

$

24

 

Fair value of options vested

 

$

12

 

 

$

10

 

 
Activity Related to Restricted Stock Units Including Performance-Based Restricted Stock Units

The following table summarizes information related to RSUs, including PBRSUs, (in millions, except for fair value):

 

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Fair Value

 

Outstanding as of April 29, 2016

 

 

13

 

 

$

32.46

 

Granted

 

 

5

 

 

$

24.42

 

Vested

 

 

(5

)

 

$

32.69

 

Forfeited

 

 

(2

)

 

$

32.01

 

Outstanding as of January 27, 2017

 

 

11

 

 

$

28.46

 

 
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 27,

2017

 

 

January 29,

2016

 

Shares withheld for taxes

 

 

2

 

 

 

2

 

Fair value of shares withheld

 

$

42

 

 

$

47

 

 
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 27,

2017

 

 

January 29,

2016

 

Shares issued under the ESPP

 

 

4

 

 

 

3

 

Proceeds from issuance of shares

 

$

80

 

 

$

93

 

 
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 27,

2017

 

 

January 29,

2016

 

 

January 27,

2017

 

 

January 29,

2016

 

Cost of product revenues

 

$

1

 

 

$

1

 

 

$

3

 

 

$

4

 

Cost of hardware maintenance and other services revenues

 

 

3

 

 

 

5

 

 

 

10

 

 

 

15

 

Sales and marketing

 

 

20

 

 

 

27

 

 

 

64

 

 

 

84

 

Research and development

 

 

14

 

 

 

20

 

 

 

46

 

 

 

64

 

General and administrative

 

 

8

 

 

 

10

 

 

 

26

 

 

 

32

 

Total stock-based compensation expense

 

$

46

 

 

$

63

 

 

$

149

 

 

$

199

 

 
Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to this program for the nine months ended January 27, 2017 (in millions, except per share amounts):

 

Number of shares repurchased

 

 

18

 

Average price per share

 

$

31.19

 

Aggregate purchase price

 

$

576

 

Remaining authorization at end of period

 

$

924

 

 
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 27,

2017

 

 

January 29,

2016

 

Dividends per share declared

 

$

0.57

 

 

$

0.54

 

Dividend payments allocated to additional paid-in capital

 

$

88

 

 

$

84

 

Dividend payments allocated to retained earnings

 

$

69

 

 

$

75

 

 
Reconciliation of Retained Earnings

A reconciliation of retained earnings is as follows (in millions):

 

Balance as of April 29, 2016

 

$

—

 

Cumulative-effect of new accounting principle

 

 

21

 

Net income

 

 

319

 

Repurchases of common stock

 

 

(271

)

Dividends

 

 

(69

)

Balance as of January 27, 2017

 

$

—

 

 
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 (1)

 

 

Unrealized

Gains

(Losses) on

Available-

for-Sale

Securities

 

 

Unrealized

Gains

(Losses) on

Derivative

Instruments

 

 

Total

 

Balance as of April 29, 2016

 

$

(19

)

 

$

(16

)

 

$

6

 

 

$

(2

)

 

$

(31

)

OCI before reclassifications, net of tax

 

 

(14

)

 

 

15

 

 

 

(10

)

 

 

8

 

 

 

(1

)

Amounts reclassified from AOCI, net of tax

 

 

—

 

 

 

1

 

 

 

—

 

 

 

(6

)

 

 

(5

)

Total OCI

 

 

(14

)

 

 

16

 

 

 

(10

)

 

 

2

 

 

 

(6

)

Balance as of January 27, 2017

 

$

(33

)

 

$

—

 

 

$

(4

)

 

$

—

 

 

$

(37

)

 

(1) See Note 15 – Employee Benefits for details of defined benefit obligation adjustments resulting from amendments made to our postretirement healthcare plan.
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 27,

2017

 

 

January 29,

2016

 

 

January 27,

2017

 

 

January 29,

2016

 

 

 

 

 

Amounts Reclassified from AOCI

 

 

Amounts Reclassified from AOCI

 

 

Statements of

Operations Location

Recognized losses on defined benefit

    obligations

 

$

—

 

 

$

—

 

 

$

1

 

 

$

2

 

 

Operating expenses

Realized gains on available-for-sale

    securities

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1

)

 

Other income (expense), net

Realized gains on cash flow hedges

 

 

(5

)

 

 

(2

)

 

 

(6

)

 

 

—

 

 

Net revenues

Total reclassifications

 

$

(5

)

 

$

(2

)

 

$

(5

)

 

$

1