Quarterly report pursuant to Section 13 or 15(d)

Capital Stock

v3.23.1
Capital Stock
 3 Months Ended
Mar. 26, 2023
Stockholders' Equity Attributable to Parent [Abstract]  
Capital Stock Capital Stock
Stock Repurchase Program. On October 12, 2021, we announced a $10.0 billion stock repurchase program. The stock repurchase program has no expiration date. At March 26, 2023, $5.9 billion remained authorized for repurchase under our stock repurchase program.
Shares Outstanding. Shares of common stock outstanding at March 26, 2023 were as follows (in millions):
Balance at September 25, 2022
 1,121 
Issued 11 
Repurchased (18)
Balance at March 26, 2023
 1,114 
Dividends. On March 8, 2023, we announced a 7% increase in our quarterly dividend per share of common stock from $0.75 to $0.80, which is effective for dividends payable after March 23, 2023. On April 12, 2023, we announced a cash dividend of $0.80 per share on our common stock, payable on June 22, 2023 to stockholders of record as of the close of business on June 1, 2023.
Earnings Per Common Share. Basic earnings per common share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed by dividing net income by the combination of the weighted-average number of common shares outstanding and the weighted-average number of dilutive common share equivalents, comprised of shares issuable under our share-based compensation plans, during the reporting period. The following table provides information about the diluted earnings per share calculation (in millions):
  Three Months Ended Six Months Ended
March 26,
2023		 March 27,
2022		 March 26,
2023		 March 27,
2022
Dilutive common share equivalents included in diluted shares 7  16  8  17 
Shares of common stock equivalents not included because the effect would be anti-dilutive or certain performance conditions were not satisfied at the end of the period 5  —  5  —