Shareholders' Equity

12 Months Ended

Sep. 24, 2022

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share Repurchase Program

During 2022, the Company repurchased 569 million shares of its common stock for $90.2 billion under a share repurchase program authorized by the Board of Directors (the “Program”). The Program does not obligate the Company to acquire a minimum amount of shares. Under the 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.

Shares of Common Stock

The following table shows the changes in shares of common stock for 2022, 2021 and 2020 (in thousands):

	2022	2021	2020
Common stock outstanding, beginning balances	16,426,786	16,976,763	17,772,945
Common stock repurchased	(568,589)	(656,340)	(917,270)
Common stock issued, net of shares withheld for employee taxes	85,228	106,363	121,088
Common stock outstanding, ending balances	15,943,425	16,426,786	16,976,763