Equity

3 Months Ended

Dec. 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. In the first quarter of 2023, we repurchased 8.6 million shares of our common stock for $425 million. Through December 1, 2022, we had repurchased an aggregate of $6.89 billion under the authorization. Amounts repurchased are included in treasury stock.

Dividends: In the first quarter of 2023, we declared and paid dividends of $126 million ($0.115 per share) to shareholders of record as of October 11, 2022.

Accumulated Other Comprehensive Income (Loss): Changes in accumulated other comprehensive income (loss) by component for the three months ended December 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 1, 2022	$	(538)	$	(47)	$	25	$	—	$	(560)
Other comprehensive income (loss) before reclassifications	70		(7)				(3)		60
Amount reclassified out of accumulated other comprehensive income (loss)	68		1		1		—		70
Tax effects	(30)		(13)		—		—		(43)
Other comprehensive income (loss)	108		(19)		1		(3)		87
As of December 1, 2022	$	(430)	$	(66)	$	26	$	(3)	$	(473)