Stock-Based Compensation (Tables)

12 Months Ended

Jan. 30, 2022

Share-based Payment Arrangement [Abstract]

Stock-based compensation expense, net of amounts capitalized as inventory

Our Consolidated Statements of Income include stock-based compensation expense, net of amounts allocated to inventory, as follows:

	Year Ended
	January 30, 2022		January 31, 2021		January 26, 2020
	(In millions)
Cost of revenue	$	141	$	88	$	39
Research and development	1,298		860		540
Sales, general and administrative	565		449		265
Total	$	2,004	$	1,397	$	844

Summary of equity awards

The following is a summary of equity awards granted under our equity incentive plans:

	Year Ended
	January 30, 2022		January 31, 2021		January 26, 2020
	(In millions, except per share data)
RSUs, PSUs and Market-based PSUs
Awards granted	18		36		28
Estimated total grant-date fair value	$	3,492	$	2,764	$	1,282
Weighted average grant-date fair value per share	$	190.69	$	76.81	$	46.12
ESPP
Shares purchased	5		4		4
Weighted average price per share	$	56.36	$	34.80	$	37.19
Weighted average grant-date fair value per share	$	23.24	$	16.91	$	16.22

Summary of ESPP valuation assumptions

The fair value of shares issued under our ESPP have been estimated with the following assumptions:

	Year Ended
	January 30, 2022	January 31, 2021	January 26, 2020
	(Using the Black-Scholes model)
ESPP
Weighted average expected life (in years)	0.1-2.0	0.1-2.0	0.1-2.0
Risk-free interest rate	—%-0.5%	0.1%-1.6%	1.5%-2.6%
Volatility	20%-58%	26%-89%	30%-82%
Dividend yield	0.1%	0.1%-0.3%	0.3%-0.4%

Schedule of equity award transactions

The following is a summary of our equity award transactions under our equity incentive plans: 

	RSUs, PSUs and Market-based PSUs Outstanding
	Number of Shares	Weighted Average Grant-Date Fair Value
	(In millions, except per share data)
Balances, January 31, 2021	59	$	66.17
Granted	18	$	190.69
Vested restricted stock	(29)	$	66.67
Canceled and forfeited	(2)	$	86.47
Balances, January 30, 2022	46	$	114.19
Vested and expected to vest after January 30, 2022	46	$	113.84