Stockholders' Equity

6 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Dividends

On November 8, 2022, we announced that our Board of Directors declared a cash dividend of $0.125 per share of common stock to be paid in December 2022. All shares of common stock issued and outstanding and all restricted stock units (RSUs) and performance-based restricted stock units (PRUs) as of the record date will be entitled to the dividend and dividend equivalent rights (DERs), respectively, which will be paid out if and when the underlying shares are released. However, the 4 million unvested RSUs assumed in connection with the Merger will not be entitled to DERs. See Note 15 for further information about these equity awards. Any future dividends and DERs will be subject to the approval of our Board of Directors.

Stock repurchase program

Under our stock repurchase program, we may purchase shares of our outstanding common stock on the open market and through accelerated stock repurchase transactions. As of September 30, 2022, we had $1,370 million remaining under the authorization to be completed in future periods with no expiration date. No shares were repurchased in the prior fiscal year during the six months ended October 1, 2021.

The following table summarizes activity related to this program during the six months ended September 30, 2022:

	Six Months Ended
(In millions, except per share amounts)	September 30, 2022
Number of shares repurchased	17
Average price per share	$	23.60
Aggregate purchase price	$	404

Subsequent to September 30, 2022, we executed repurchases of 14 million shares of our common stock for an aggregate amount of $308 million. As a result, we have $1,062 million remaining under our existing share repurchase program.

Accumulated other comprehensive income (loss)

Accumulated other comprehensive income (loss), net of taxes, consisted of foreign currency translation adjustments:

(In millions)	Foreign Currency Translation Gain (Loss)
Balance as of April 1, 2022	$	(4)
Other comprehensive income (loss), net of taxes	(11)
Balance as of September 30, 2022	$	(15)