Equity

9 Months Ended

Jun. 01, 2023

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. No shares were repurchased in the second or third quarters of 2023. In the first quarter of 2023, we repurchased 8.6 million shares of our common stock for $425 million. Through June 1, 2023, we had repurchased an aggregate of $6.89 billion under the authorization. Amounts repurchased are included in treasury stock.

Dividends: We declared and paid dividends of $126 million ($0.115 per share) in each of the first three quarters of 2023. On June 28, 2023, our Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on July 25, 2023, to shareholders of record as of the close of business on July 10, 2023.

Accumulated Other Comprehensive Income (Loss): Changes in accumulated other comprehensive income (loss) by component for the nine months ended June 1, 2023 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	84		12		—		(1)		95
Amount reclassified out of accumulated other comprehensive income (loss)	199		1		(2)		—		198
Tax effects	(61)		(13)		1		—		(73)
Other comprehensive income (loss)	222		—		(1)		(1)		220
As of June 1, 2023	$	(316)	$	(47)	$	24	$	(1)	$	(340)