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Stock-Based Compensation
 6 Months Ended
Jul. 28, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Our stock-based compensation expense is associated with restricted stock units, or RSUs, performance stock units that are based on our corporate financial performance targets, or PSUs, performance stock units that are based on market conditions, or market-based PSUs, and our employee stock purchase plan, or ESPP.
Our Condensed Consolidated Statements of Income include stock-based compensation expense, net of amounts allocated to inventory, as follows:
 
Three Months Ended
 
Six Months Ended
 
July 28,
2019
 
July 29,
2018
 
July 28,
2019
 
July 29,
2018
 
(In millions)
Cost of revenue
$
8

 
$
8

 
$
12

 
$
16

Research and development
145

 
76

 
259

 
150

Sales, general and administrative
71

 
48

 
130

 
96

Total
$
224

 
$
132

 
$
401

 
$
262


Equity Award Activity
The following is a summary of equity award transactions under our equity incentive plans:
 
RSUs, PSUs, and Market-based PSUs Outstanding
 
Number of Shares
 
Weighted Average Grant-Date Fair Value Per Share
 
(In millions, except per share data)
Balances, January 27, 2019
16

 
$
129.92

Granted (1) (2)
6

 
$
183.33

Vested restricted stock
(4
)
 
$
67.51

Canceled and forfeited
(1
)
 
$
189.95

Balances, July 28, 2019
17

 
$
161.37


(1)
Includes the number of PSUs granted that will be issued and eligible to vest if the maximum corporate financial performance goal for fiscal year 2020 is achieved. Depending on the actual level of the corporate performance achievement at the end of fiscal year 2020, the PSUs issued could be up to 0.4 million shares.
(2)
Includes the number of market-based PSUs granted that will be issued and eligible to vest if the maximum goal for total shareholder return, or TSR, over the 3-year measurement period is achieved. Depending on the ranking of our TSR compared to those of the companies comprising the Standard & Poor’s 500 Index during that period, the market-based PSUs issued could be up to 60 thousand shares.
As of July 28, 2019, there was $2.06 billion of aggregate unearned stock-based compensation expense, net of forfeitures. This amount is expected to be recognized over a weighted average period of 2.5 years for RSUs, PSUs, and market-based PSUs, and 1.1 years for ESPP.