Quarterly report pursuant to Section 13 or 15(d)

Capital Stock

v3.22.1
Capital Stock
 6 Months Ended
Mar. 27, 2022
Stockholders' Equity Attributable to Parent [Abstract]  
Capital Stock Capital StockStock Repurchase Program. On October 12, 2021, we announced a new $10.0 billion stock repurchase program. This was in addition to the then remaining authority of $0.9 billion under the previous program. The stock repurchase programs have no expiration date. During the second quarter of fiscal 2022, we utilized the remaining repurchase authority under the previous program and began repurchases under the new program. At March 27, 2022, $9.1 billion remained authorized for repurchase under our stock repurchase program.
Shares Outstanding. Shares of common stock outstanding at March 27, 2022 were as follows (in millions):
Balance at September 26, 2021 1,125 
Issued 11 
Repurchased (14)
Balance at March 27, 2022 1,122 
Dividends. On March 9, 2022, we announced a 10% increase in our quarterly dividend per share of common stock from $0.68 to $0.75, which is effective for dividends payable after March 24, 2022. On April 13, 2022, we announced a cash dividend of $0.75 per share on our common stock, payable on June 23, 2022 to stockholders of record as of the close of business on June 2, 2022.
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 dilutive common share equivalents, comprised of shares issuable under our share-based compensation plans and the weighted-average number of common shares outstanding 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 27,
2022		 March 28,
2021		 March 27,
2022		 March 28,
2021
Dilutive common share equivalents included in diluted shares 16  18  17  20 
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 —  —  —  —