v3.26.1
Stockholders' Equity (Tables)
12 Months Ended
Apr. 24, 2026
Share-Based Payment Arrangement [Abstract]  
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 28, 2023

 

 

12

 

 

$

62.08

 

Granted

 

 

5

 

 

$

76.46

 

Vested

 

 

(5

)

 

$

59.32

 

Forfeited

 

 

(1

)

 

$

65.17

 

Outstanding as of April 26, 2024

 

 

11

 

 

$

68.87

 

Granted

 

 

4

 

 

$

123.45

 

Vested

 

 

(5

)

 

$

72.07

 

Forfeited

 

 

(2

)

 

$

78.21

 

Outstanding as of April 25, 2025

 

 

8

 

 

$

91.30

 

Granted

 

 

5

 

 

$

104.74

 

Vested

 

 

(4

)

 

$

86.44

 

Forfeited

 

 

(1

)

 

$

89.27

 

Outstanding as of April 24, 2026

 

 

8

 

 

$

101.15

 

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):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Shares withheld for taxes

 

 

1

 

 

 

2

 

 

 

2

 

Fair value of shares withheld

 

$

137

 

 

$

199

 

 

$

128

 

Schedule of Employee Stock Purchase Plan (ESPP) The following table summarizes activity related to the purchase rights issued under the ESPP (in millions):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

Shares issued under the ESPP

 

 

1

 

 

 

2

 

Proceeds from issuance of shares

 

$

103

 

 

$

108

 

Stock-Based Compensation Expense

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

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Cost of product revenues

 

$

6

 

 

$

6

 

 

$

6

 

Cost of services revenues

 

 

22

 

 

 

24

 

 

 

23

 

Sales and marketing

 

 

155

 

 

 

162

 

 

 

143

 

Research and development

 

 

126

 

 

 

135

 

 

 

132

 

General and administrative

 

 

73

 

 

 

59

 

 

 

53

 

Total stock-based compensation expense

 

$

382

 

 

$

386

 

 

$

357

 

Summary of Valuation Assumptions

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

 

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

RSUs:

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

3.8

%

 

 

4.6

%

 

 

4.9

%

Expected dividend yield

 

 

2.0

%

 

 

1.8

%

 

 

2.6

%

Weighted-average fair value per share granted

 

$

104.74

 

 

$

123.45

 

 

$

76.46

 

 

 

 

 

 

 

 

 

 

 

ESPP:

 

 

 

 

 

 

 

 

 

Expected term in years

 

 

1.2

 

 

 

1.2

 

 

 

1.2

 

Risk-free interest rate

 

 

4.1

%

 

 

5.2

%

 

 

4.9

%

Expected volatility

 

 

36

%

 

 

31

%

 

 

30

%

Expected dividend yield

 

 

2.1

%

 

 

1.7

%

 

 

2.8

%

Weighted-average fair value per right granted

 

$

26.42

 

 

$

29.70

 

 

$

17.37

 

Summary of Activities Related to Stock Repurchase Program

The following table summarizes activity related to the stock repurchase program (in millions, except for per share amounts):

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Number of shares repurchased

 

 

9.0

 

 

 

10.2

 

 

 

11.5

 

Average price per share

 

$

105.89

 

 

$

112.55

 

 

$

77.87

 

Stock repurchases allocated to additional paid-in capital

 

$

98

 

 

$

50

 

 

$

102

 

Stock repurchases allocated to retained earnings

 

$

852

 

 

$

1,100

 

 

$

798

 

Remaining authorization at end of period

 

$

502

 

 

$

352

 

 

$

502

 

On May 21, 2026, our Board of Directors authorized the repurchase of an additional $1.0 billion of our common stock.

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).

 

 

Year Ended

 

 

 

April 24, 2026

 

 

April 25, 2025

 

 

April 26, 2024

 

Dividends per share declared

 

$

2.08

 

 

$

2.08

 

 

$

2.00

 

Dividend payments allocated to additional paid-in capital

 

$

142

 

 

$

130

 

 

$

171

 

Dividend payments allocated to retained earnings

 

$

271

 

 

$

294

 

 

$

245