Stock-Based Compensation (Tables)

We reserved the following shares of authorized but unissued common stock:



(In millions)	March 31, 2017
Stock purchase plans	39
Stock award plans	76
Total	115

The following table sets forth the total stock-based compensation expense recognized in our Consolidated Statements of Operations.



	Year Ended
(Dollars in millions)	March 31, 2017			April 1, 2016			April 3, 2015
Cost of revenue	$	21		$	10		$	15
Sales and marketing	107			53			46
Research and development	110			56			39
General and administrative	202			42			31
Total stock-based compensation expense from continuing operations	440			161			131
Tax benefit associated with stock-based compensation expense	(149		)	(50		)	(37		)
Net stock-based compensation expense from continuing operations	291			111			94
Net stock-based compensation expense from discontinued operations	—			56			46
Net stock-based compensation expense	$	291		$	167		$	140



(In millions, except per share and year data)	Number of Shares		Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Years	Aggregate Intrinsic Value
Outstanding at April 1, 2016	17		$	22.72
Granted and assumed	18		$	20.56
Vested and released	(8	)	$	22.54
Forfeited	(4	)	$	21.45
Outstanding and unvested at March 31, 2017	23		$	21.26	1.1	$	692
Expected to vest at March 31, 2017	19				1.0	$	573

Performance-based restricted stock units



(In millions, except per share and year data)	Number of Shares		Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Years	Aggregate Intrinsic Value
Outstanding at April 1, 2016	2		$	27.13
Granted and assumed	5		$	19.99
Vested and released	(1	)	$	28.76
Outstanding and unvested at March 31, 2017	6		$	21.05	1.0	$	181
Expected to vest at March 31, 2017	5				1.0	$	166

Stock options



(In millions, except per share and year data)	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Years	Aggregate Intrinsic Value
Outstanding at April 1, 2016	—		$	—
Assumed	24		$	8.77
Exercised	(4	)	$	7.93
Outstanding and unvested at March 31, 2017	20		$	8.94
Exercisable at March 31, 2017	7				8.3 years	$	164
Vested and expected to vest at March 31, 2017	18				8.4 years	$	392

The following assumptions were used to estimate the fair value of stock options assumed in the Blue Coat and LifeLock acquisitions during fiscal 2017:



Expected life	5.0 years
Weighted-average expected volatility	26.25	%
Weighted-average risk-free interest	1.22	%
Expected dividend yield	1.39	%