v3.20.4
Stock-Based Compensation (Tables)
 12 Months Ended
Jan. 31, 2021
Share-based Payment Arrangement [Abstract]  
Stock-based compensation expense, net of amounts capitalized as inventory
Our Consolidated Statements of Income include stock-based compensation expense, net of amounts allocated to inventory, as follows:
 Year Ended
January 31,
2021		January 26,
2020		January 27,
2019
 (In millions)
Cost of revenue$88 $39 $27 
Research and development860 540 336 
Sales, general and administrative449 265 194 
Total$1,397 $844 $557 
Summary of equity awards
The following is a summary of equity awards granted under our equity incentive plans:
Year Ended
January 31,
2021		January 26,
2020		January 27,
2019
(In millions, except per share data)
RSUs, PSUs and Market-based PSUs
Awards granted9 7 4 
Estimated total grant-date fair value$2,764 $1,282 $1,109 
Weighted average grant-date fair value per share$307.25 $184.47 $258.26 
ESPP
Shares purchased1 1 1 
Weighted average price per share$139.19 $148.76 $107.48 
Weighted average grant-date fair value per share$67.65 $64.87 $38.51 
Summary of ESPP valuation assumptions
The fair value of shares issued under our ESPP have been estimated with the following assumptions:
 Year Ended
 January 31,
2021		January 26,
2020		January 27,
2019
(Using the Black-Scholes model)
ESPP
Weighted average expected life (in years)
0.1-2.0
0.1-2.0
0.1-2.0
Risk-free interest rate
0.1%-1.6%
1.5%-2.6%
1.6%-2.8%
Volatility
26%-89%
30%-82%
24%-75%
Dividend yield
0.1%-0.3%
0.3%-0.4%
0.3%-0.4%
Schedule of equity award transactions
The following is a summary of our equity award transactions under our equity incentive plans: 
RSUs, PSUs and Market-based PSUs Outstanding
 Number of SharesWeighted Average Grant-Date Fair Value
(In millions, except years and per share data)
Balances, January 26, 202014 $176.72 
Granted9 $307.25 
Vested restricted stock(7)$159.35 
Canceled and forfeited(1)$193.83 
Balances, January 31, 202115 $264.69 
Vested and expected to vest after January 31, 202114 $264.13