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Stockholders' Equity (Tables)
 9 Months Ended
Jan. 26, 2018
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 28, 2017

 

 

4

 

 

$

35.76

 

 

 

 

 

 

 

 

 

Exercised

 

 

(2

)

 

$

36.44

 

 

 

 

 

 

 

 

 

Outstanding as of January 26, 2018

 

 

2

 

 

$

33.24

 

 

 

3.35

 

 

$

49

 

Exercisable as of January 26, 2018

 

 

1

 

 

$

37.57

 

 

 

2.62

 

 

$

34

 

 
Additional Information Related to Stock Options

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

 

 

 

Nine Months Ended

 

 

 

January 26,

2018

 

 

January 27,

2017

 

Intrinsic value of exercises

 

$

29

 

 

$

18

 

Proceeds received from exercises

 

$

72

 

 

$

33

 

Fair value of options vested

 

$

6

 

 

$

12

 

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

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

 

 

 

Number of

Shares

 

 

Weighted-

Average

Grant Date

Fair Value

 

Outstanding as of April 28, 2017

 

 

11

 

 

$

28.81

 

Granted

 

 

4

 

 

$

38.96

 

Vested

 

 

(5

)

 

$

31.08

 

Forfeited

 

 

(1

)

 

$

29.06

 

Outstanding as of January 26, 2018

 

 

9

 

 

$

32.10

 

 
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 26,

2018

 

 

January 27,

2017

 

Shares withheld for taxes

 

 

2

 

 

 

2

 

Fair value of shares withheld

 

$

67

 

 

$

42

 

 
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 26,

2018

 

 

January 27,

2017

 

Shares issued under the ESPP

 

 

4

 

 

 

4

 

Proceeds from issuance of shares

 

$

85

 

 

$

80

 

 
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 26,

2018

 

 

January 27,

2017

 

 

January 26,

2018

 

 

January 27,

2017

 

Cost of product revenues

 

$

—

 

 

$

1

 

 

$

2

 

 

$

3

 

Cost of hardware maintenance and other services revenues

 

 

3

 

 

 

3

 

 

 

8

 

 

 

10

 

Sales and marketing

 

 

16

 

 

 

20

 

 

 

53

 

 

 

64

 

Research and development

 

 

11

 

 

 

14

 

 

 

38

 

 

 

46

 

General and administrative

 

 

8

 

 

 

8

 

 

 

24

 

 

 

26

 

Total stock-based compensation expense

 

$

38

 

 

$

46

 

 

$

125

 

 

$

149

 

Income tax benefit for stock-based compensation

 

$

5

 

 

$

10

 

 

$

23

 

 

$

30

 

 
Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to this program for the nine months ended January 26, 2018 (in millions, except per share amounts):

 

Number of shares repurchased

 

 

10

 

Average price per share

 

$

46.37

 

Aggregate purchase price

 

$

450

 

Remaining authorization at end of period

 

$

344

 

 
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,

2018

 

 

January 27,

2017

 

Dividends per share declared

 

$

0.60

 

 

$

0.57

 

Dividend payments allocated to additional paid-in capital

 

$

53

 

 

$

88

 

Dividend payments allocated to retained earnings (accumulated deficit)

 

$

108

 

 

$

69

 

 
Reconciliation of Retained Earnings (Accumulated Deficit)

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

 

Balance as of April 28, 2017

 

$

40

 

Net loss

 

 

(195

)

Repurchases of common stock

 

 

(226

)

Dividends

 

 

(108

)

Balance as of January 26, 2018

 

$

(489

)

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

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

 

 

 

Foreign

Currency

Translation

Adjustments

 

 

Defined

Benefit

Obligation

Adjustments

 

 

Unrealized

Gains

(Losses) on

Available-

for-Sale

Securities

 

 

Total

 

Balance as of April 28, 2017

 

$

(29

)

 

$

—

 

 

$

—

 

 

$

(29

)

Other comprehensive income, net of tax

 

 

3

 

 

 

(1

)

 

 

(15

)

 

 

(13

)

Balance as of January 26, 2018

 

$

(26

)

 

$

(1

)

 

$

(15

)

 

$

(42

)

 
Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss)

The amounts reclassified out of accumulated other comprehensive income (loss) are as follows (in millions):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

 

January 26,

2018

 

 

January 27,

2017

 

 

January 26,

2018

 

 

January 27,

2017

 

 

 

 

 

Amounts Reclassified from AOCI

 

 

Amounts Reclassified from AOCI

 

 

Statements of

Operations Classification

Recognized (gains) losses on defined benefit

    obligations

 

$

(1

)

 

$

—

 

 

$

(2

)

 

$

1

 

 

Operating expenses

Realized gains on cash flow hedges

 

 

—

 

 

 

(5

)

 

 

—

 

 

 

(6

)

 

Net revenues

Total reclassifications

 

$

(1

)

 

$

(5

)

 

$

(2

)

 

$

(5

)