Capital Stock

3 Months Ended

Dec. 29, 2024

Equity, Attributable to Parent [Abstract]

Capital Stock

Note 4. Capital Stock

Stock Repurchase Program. During the first quarter of fiscal 2025, we utilized the remaining repurchase authority under the $10.0 billion stock repurchase program announced on October 12, 2021 and we began repurchases under the $15.0 billion stock repurchase program announced on November 6, 2024, which has no expiration date. At December 29, 2024, $14.3 billion remained authorized for repurchase under our stock repurchase program.

Shares Outstanding. Shares of common stock outstanding at December 29, 2024 were as follows (in millions):

Balance at September 29, 2024	1,113
Issued	4
Repurchased	(11)
Balance at December 29, 2024	1,106

Dividends. On January 17, 2025, we announced a cash dividend of $0.85 per share on our common stock, payable on March 27, 2025 to stockholders of record as of the close of business on March 6, 2025.

Earnings Per Common Share. Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed by dividing net income by the combination of the weighted-average number of common shares outstanding and the weighted-average number of dilutive common share equivalents, comprised of shares issuable under our share-based compensation plans, during the reporting period, using the treasury stock method. The following table provides information about the diluted earnings per share calculation (in millions):

	Three Months Ended
	December 29, 2024	December 24, 2023
Dilutive common share equivalents included in diluted shares	12	11
Shares of common stock equivalents not included because the effect would be anti-dilutive or certain performance conditions were not satisfied at the end of the period	1	14