XML 32 R17.htm IDEA: XBRL DOCUMENT v3.25.2
Stockholders' Equity
 9 Months Ended
Jun. 27, 2025
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS’ EQUITY
10.     STOCKHOLDERS’ EQUITY

Stock Repurchase and Retirement
On February 4, 2025, the Board of Directors approved a stock repurchase program (“February 4, 2025 stock repurchase program”), pursuant to which the Company is authorized to repurchase up to $2.0 billion of its common stock from time to time through February 3, 2027, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. The February 4, 2025 stock repurchase program succeeds in its entirety the stock repurchase program approved by the Board of Directors on January 31, 2023 (“January 31, 2023 stock repurchase program”). The timing and amount of any shares of the Company’s common stock that are repurchased under the February 4, 2025 stock repurchase program will be determined by the Company’s management based on its evaluation of market conditions and other factors. The February 4, 2025 stock repurchase program may be suspended or discontinued at any time. The Company currently expects to fund the February 4, 2025 stock repurchase program using the Company’s working capital.

During the three months ended June 27, 2025, the Company repurchased 5.2 million shares of its common stock for $333.4 million (including commissions and excise tax, as applicable), all of which shares were repurchased pursuant to the February 4, 2025 stock repurchase program. During the nine months ended June 27, 2025, the Company repurchased 12.6 million shares of its common stock for $837.7 million (including commissions and excise tax, as applicable), all of which shares were repurchased pursuant to the February 4, 2025 stock repurchase program. As of June 27, 2025, approximately $1.2 billion remained available under the February 4, 2025 stock repurchase program.

During each of the three and nine months ended June 28, 2024, the Company repurchased 0.8 million shares of its common stock for $77.4 million (including commissions and excise tax, as applicable), all of which shares were repurchased pursuant to the January 31, 2023 stock repurchase program.

Dividends
On August 5, 2025, the Company announced that the Board of Directors had declared a cash dividend on the Company’s common stock of $0.71 per share. This dividend is payable on September 16, 2025, to the Company’s stockholders of record as of the close of business on August 26, 2025. Future dividends are subject to declaration by the Board of Directors.

Dividends charged to retained earnings were as follows (in millions, except per share data):
Fiscal Years Ended
October 3, 2025September 27, 2024
Per ShareTotal AmountPer ShareTotal Amount
First quarter$0.70 $112.5 $0.68 $108.9 
Second quarter0.70 110.6 0.68 109.1 
Third quarter0.70 103.9 0.68 109.1 
Total dividends$2.10 $327.0 $2.04 $327.1 

Share-based Compensation
The following table summarizes the share-based compensation expense by line item in the Consolidated Statements of Operations (in millions):
Three Months EndedNine Months Ended
June 27, 2025June 28, 2024June 27, 2025June 28, 2024
Cost of goods sold$8.5 $5.7 $21.5 $26.1 
Research and development32.8 21.8 86.0 67.1 
Selling, general, and administrative13.9 15.2 48.9 48.9 
Restructuring, impairment, and other charges— — 12.5 — 
Total share-based compensation$55.2 $42.7 $168.9 $142.1