Stockholders' Equity

12 Months Ended

Mar. 29, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Dividends

On May 9, 2024, we announced that our Board of Directors declared a cash dividend of $0.125 per share of common stock to be paid in June 2024. All shares of common stock issued and outstanding and all RSUs and 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 acquisition of Avast 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 March 29, 2024, we had $429 million remaining under the authorization to be completed in future periods with no expiration date. In May 2024, our Board of Directors authorized a new stock repurchase program through which we may repurchase shares of our common stock in an aggregate amount of up to $3 billion with no fixed expiration. This new stock repurchase program will supersede any amounts under the prior stock repurchase programs.

The following table summarizes activity related to our stock repurchase program during the years ended March 29, 2024 and March 31, 2023:

	Year Ended
(In millions, except per share amounts)	March 29, 2024		March 31, 2023
Number of shares repurchased	21		40
Average price per share	$	20.87	$	22.63
Aggregate purchase price	$	441	$	904

Accumulated other comprehensive income (loss)

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

(In millions)	Foreign Currency Translation Adjustments		Net Unrealized Gain (Loss) On Interest Rate Derivative		Total
Balance as of April 1, 2022	$	(4)	$	—	$	(4)
Other comprehensive income (loss), net of taxes	(11)		—		(11)
Balance as of March 31, 2023	(15)		—		(15)
Other comprehensive income (loss), net of taxes	10		16		26
Balance as of March 29, 2024	$	(5)	$	16	$	11