Stock Based Compensation (Tables)

12 Months Ended

Jan. 25, 2015

Notes to financial statements [Abstract]

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



	Year Ended
	January 25, 2015		January 26, 2014		January 27, 2013
	(In thousands)
Cost of revenue	$	12,022	$	10,688	$	10,490
Research and development	88,355		82,940		82,157
Sales, general and administrative	57,464		42,667		44,015
Total	$	157,841	$	136,295	$	136,662

Summary of equity awards granted under equity incentive plans



	Year Ended
	January 25,		January 26,		January 27,
	2015		2014		2013
	(In thousands, except per share data)
Stock Options
Awards granted	86		6,149		7,119
Estimated total grant-date fair value	$	345	$	21,310	$	38,326
Weighted average grant-date fair value (per share)	$	4.02	$	3.47	$	5.38

RSUs and PSUs
Awards granted	12,912		10,757		8,136
Estimated total grant-date fair value	$	228,223	$	144,798	$	112,795
Weighted average grant-date fair value (per share)	$	17.68	$	13.46	$	13.86

ESPP
Shares purchased	6,672		6,124		5,463
Weighted average price (per share)	$	10.99	$	10.79	$	10.83
Weighted average grant-date fair value (per share)	$	4.99	$	5.60	$	5.16

Summary of unearned stock-based compensation expense



	January 25,		January 26,
	2015		2014
	(In thousands)
Aggregated unearned stock-based compensation expense	$	291,416	$	256,500

Estimated weighted average amortization period	(In years)
Stock Options	1.8		2.5
RSUs and PSUs	2.8		2.7
ESPP	0.5		0.6

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions



	Year Ended
	January 25, 2015	January 26, 2014	January 27, 2013
	(Using a binomial model)
Stock Options
Weighted average expected life (in years)	2.5-3.2	2.4-3.5	3.1-4.9
Risk-free interest rate	2.5%-2.8%	1.8%-3.0%	1.5%-2.3%
Volatility	31%	28%-37%	39%-49%
Dividend yield	1.8%-1.9%	1.9%-2.4%	2.4%



	Year Ended
	January 25, 2015	January 26, 2014	January 27, 2013
	(Using the Black-Scholes model)
ESPP
Weighted average expected life (in years)	0.5-2.0	0.5-2.0	0.5-2.0
Risk-free interest rate	0.1%-0.5%	0.1%-0.4%	0.1%-0.3%
Volatility	23%-31%	32%-37%	44%-47%
Dividend yield	1.7%-1.9%	2.0%-2.4%	—

Schedule of Share-based Compensation, Activity



	Options Outstanding							RSUs and PSUs Outstanding
	Number of Shares		Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (1)		Number of Shares		Weighted Average Grant-Date Fair Value
	(In thousands, except years and per share data)
Balances, January 26, 2014	32,504		$	14.22				18,852		$	13.82
Granted (2)	86		$	18.75				12,912		$	17.68
Exercised	(9,795	)	$	12.64				—		—
Vested restricted stock	—		—					(7,163	)	$	13.78
Canceled and forfeited	(1,450	)	$	19.27				(1,326	)	$	14.44
Balances, January 25, 2015	21,345		$	14.61	5.9	$	130,923	23,275		$	15.94
Exercisable at January 25, 2015	15,120		$	14.70	5.1	$	91,434
Vested and expected to vest after January 25, 2015	20,356		$	14.62	5.8	$	124,575	18,988		$	15.96

(1)

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value for in-the-money options at January 25, 2015, based on the $20.71 closing stock price of our common stock on the NASDAQ Global Select Market on January 23, 2015, the last trading day of fiscal year 2015, which would have been received by the option holders had all in-the-money option holders exercised their options as of that date. The total number of in-the-money options outstanding and exercisable as of January 25, 2015 was 21.1 million shares and 14.9 million shares, respectively.

(2)

Includes the total number of PSUs issuable if the maximum corporate financial performance target level for fiscal year 2015 is achieved. Depending on the actual level of achievement of the corporate performance target at the end of fiscal year 2015, the range of PSUs issued could be from 1.3 million to 2.5 million shares. The PSUs were granted during the first quarter of fiscal year 2015 to our CEO and senior management as approved by our Compensation Committee.