Quarterly report pursuant to Section 13 or 15(d)

Capital Stock

v3.22.2
Capital Stock
9 Months Ended
Jun. 26, 2022
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 June 26, 2022, $8.6 billion remained authorized for repurchase under our stock repurchase program.
Shares Outstanding. Shares of common stock outstanding at June 26, 2022 were as follows (in millions):
Balance at September 26, 2021 1,125 
Issued 15 
Repurchased (18)
Balance at June 26, 2022
1,122 
Dividends. On July 15, 2022, we announced a cash dividend of $0.75 per share on our common stock, payable on September 22, 2022 to stockholders of record as of the close of business on September 1, 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 Nine Months Ended
June 26,
2022
June 27,
2021
June 26,
2022
June 27,
2021
Dilutive common share equivalents included in diluted shares 12  16  15  19 
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 —  —