Equity

12 Months Ended

Sep. 01, 2022

Equity [Abstract]

Equity

Equity

Common Stock Repurchases: Our Board of Directors has authorized the discretionary repurchase of up to $10 billion of our outstanding common stock through open-market purchases, block trades, privately-negotiated transactions, derivative transactions, and/or pursuant to Rule 10b5-1 trading plans. The repurchase authorization has no expiration date, does not obligate us to acquire any common stock, and is subject to market conditions and our ongoing determination of the best use of available cash. We repurchased 35.4 million shares of our common stock for $2.43 billion in 2022 and 15.6 million shares for $1.20 billion in 2021. Through September 1, 2022, we had repurchased an aggregate of $6.47 billion under the authorization. Amounts repurchased are included in treasury stock.

Dividends: On September 29, 2022, we announced that our Board of Directors had declared a quarterly dividend of $0.115 per share, payable in cash on October 26, 2022, to shareholders of record as of the close of business on October 11, 2022.

Accumulated Other Comprehensive Income (Loss): Changes in accumulated other comprehensive income (loss) by component for the year ended September 1, 2022 were as follows:

	Gains (Losses) on Derivative Instruments		Unrealized Gains (Losses) on Investments		Pension Liability Adjustments		Cumulative Foreign Currency Translation Adjustment		Total
As of September 2, 2021	$	(22)	$	1	$	22	$	1	$	2
Other comprehensive income before reclassifications	(720)		(63)		6		(1)		(778)
Amount reclassified out of accumulated other comprehensive income	53		1		(2)		—		52
Tax effects	151		14		(1)		—		164
Other comprehensive income (loss)	(516)		(48)		3		(1)		(562)
As of September 1, 2022	$	(538)	$	(47)	$	25	$	—	$	(560)