Equity

Summary of Changes in Equity



	Six Months Ended
	September 28, 2013			September 29, 2012
	(millions)
Balance at beginning of period	$	3,785		$	3,653
Comprehensive income	406			408
Dividends declared	(72		)	(73		)
Repurchases of common stock	(210		)	(347		)
Stock-based compensation	43			43
Shares issued and tax benefits recognized pursuant to stock-based compensation plans	39			52
Balance at end of period	$	3,991		$	3,736

Common Stock Repurchase Program

During the six months ended September 28, 2013, 1.1 million shares of Class A common stock were repurchased by the Company at a total cost of $200 million under its common stock repurchase program. The total cost of repurchased shares included two separate $50 million prepayments made in March 2013 and June 2013 pursuant to share repurchase programs with third-party financial institutions, which resulted in the delivery of 0.6 million shares during the six months ended September 28, 2013, based on the volume-weighted average market price of the Company's Class A common stock over the programs' respective 93-day repurchase terms, less a per share discount. The remaining availability under the Company’s common stock repurchase program was approximately $427 million as of September 28, 2013.

In addition, during the six months ended September 28, 2013, 0.4 million shares of Class A common stock at a cost of $60 million were surrendered to, or withheld by, the Company in satisfaction of withholding taxes in connection with the vesting of awards under the Company’s 1997 Long-Term Stock Incentive Plan, as amended (the “1997 Incentive Plan”), and its 2010 Long-Term Stock Incentive Plan, as amended (the “2010 Incentive Plan”).

During the six months ended September 29, 2012, 2.0 million shares of Class A common stock were repurchased by the Company at a cost of $300 million under its common stock repurchase program. In addition, 0.4 million shares of Class A common stock at a cost of $47 million were surrendered to, or withheld by, the Company in satisfaction of withholding taxes in connection with the vesting of awards under the 1997 Incentive Plan and the 2010 Incentive Plan.

Repurchased and surrendered shares are accounted for as treasury stock at cost and held in treasury for future use.

Dividends

Since 2003, the Company has maintained a regular quarterly cash dividend program on its common stock. On May 21, 2012, the Company's Board of Directors approved an increase to the Company's quarterly cash dividend on its common stock from $0.20 per share to $0.40 per share. The second quarter Fiscal 2014 dividend of $0.40 per share was declared on September 11, 2013, was payable to stockholders of record at the close of business on September 27, 2013, and was paid on October 11, 2013. Dividends paid amounted to $73 million and $55 million during the six months ended September 28, 2013 and September 29, 2012, respectively.

On November 5, 2013, the Company's Board of Directors approved an additional increase to the Company's quarterly cash dividend on its common stock from $0.40 to $0.45 per share.