Shareholders' Equity

9 Months Ended

Jun. 29, 2019

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

On April 30, 2019, the Company announced the Board of Directors increased the current share repurchase program authorization from $100 billion to $175 billion of the Company’s common stock, of which $78.2 billion had been utilized as of June 29, 2019. During the nine months ended June 29, 2019, the Company repurchased 252.6 million shares of its common stock for $49.2 billion, including 55.1 million shares initially delivered under a $12.0 billion accelerated share repurchase arrangement dated February 2019. The Company’s share repurchase program does not obligate it to acquire any specific number of shares. Under this program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).