Stock-based Compensation (Tables)

12 Months Ended

Apr. 28, 2018

Summary of Stock Options, Weighted Average Assumptions

The fair value of stock options granted was estimated as of the grant date using a Black-Scholes option-pricing model with the following assumptions:

	Fiscal Year Ended
	April 28, 2018			April 29, 2017			April 30, 2016
Expected dividend yield	2.2		%	2.0		%	1.8		%
Expected stock price volatility	21.6		%	21.2		%	25.6		%
Risk-free interest rate	1.9		%	1.2		%	2.1		%
Expected life (years)	6.6			6.6			6.7
Weighted average grant date fair value per share	$	8.18		$	8.32		$	9.66

Summary of Stock Options

The following is a summary of stock option activity:

	Number of Options		Weighted- Average Exercise Price		Aggregate Intrinsic Value
Balance as of April 29, 2017	1,192		$	52.12
Granted	200		44.09
Exercised	(9	)	36.71
Canceled	(177	)	52.90
Balance as of April 28, 2018	1,206		$	50.82	$	31
Vested or expected to vest as of April 28, 2018	914		$	49.64	$	31
Exercisable as of April 28, 2018	87		$	37.38	$	31

Summary of Non-Vested Restricted Stock Awards and Performance Unit Awards

The following is a summary of restricted stock award activity:

	Restricted Stock Awards
	Shares		Weighted- Average Grant  Date Fair Value
Outstanding at April 29, 2017	479		$	38.41
Granted	24		37.94
Vested	(132	)	34.69
Forfeitures	(67	)	37.80
Outstanding at April 28, 2018	304		$	40.13

The following is a summary of restricted stock unit activity:

	Restricted Stock Units
	Shares		Weighted- Average Grant  Date Fair Value
Outstanding at April 29, 2017	304		$	47.50
Granted	330		44.48
Vested	(43	)	47.19
Forfeitures	(50	)	46.80
Outstanding at April 28, 2018	541		$	45.74

The following is a summary of performance unit award activity at target:

	Performance Unit Awards
	Shares		Weighted- Average Grant Date Fair Value
Outstanding at April 29, 2017	230		$	50.88
Granted	102		45.86
Vested	—		—
Forfeitures and cancellations	(96	)	43.67
Outstanding at April 28, 2018	236		$	51.66

Employee Stock Purchase Plan

Summary of Weighted-Average Assumptions

We estimate the grant date fair value of shares purchased under our ESPP using the Black-Scholes option pricing valuation model with the following weighted average assumptions:

	Fiscal Year Ended
	April 28, 2018			April 29, 2017			April 30, 2016
Expected dividend yield	2.8		%	2.3		%	2.0		%
Expected stock price volatility	28.1		%	32.9		%	21.1		%
Risk-free interest rate	1.7		%	0.7		%	0.5		%
Expected life (years)	0.6			0.6			0.6
Weighted average grant date fair value per share	$	8.73		$	10.33		$	9.16

Capital Accumulation Plan (CAP)

Summary of Weighted-Average Assumptions

We estimate the grant date fair value of shares purchased under our CAP using the Black-Scholes option pricing valuation model with the following weighted average assumptions:

	Fiscal Year Ended
	April 28, 2018			April 29, 2017			April 30, 2016
Expected dividend yield	2.8		%	2.3		%	2.0		%
Expected stock price volatility	24.4		%	28.3		%	19.7		%
Risk-free interest rate	1.8		%	0.9		%	0.6		%
Expected life (years)	1.0			1.0			1.0
Weighted average grant date fair value per share	$	12.98		$	15.21		$	14.13