Stockholders' Equity

9 Months Ended

Dec. 27, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Dividends

On January 30, 2025, we announced that our Board of Directors declared a cash dividend of $0.125 per share of common stock to be paid in March 2025. 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, 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

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. 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 December 27, 2024, we had $2,728 million remaining under the authorization to be completed in future periods.

The following table summarizes activity related to our stock repurchase program during three and nine months ended December 27, 2024 and December 29, 2023:

	Three Months Ended				Nine Months Ended
(In millions, except per share amounts)	December 27, 2024		December 29, 2023		December 27, 2024		December 29, 2023
Number of shares repurchased	—		5		11		7
Average price per share	$	—	$	21.54	$	24.65	$	19.88
Aggregate purchase price	$	—	$	100	$	272	$	141

We did not have any stock repurchases during the three months ended December 27, 2024.

Accumulated other comprehensive income (loss)

Accumulated other comprehensive income (loss), net of taxes, consisted of foreign currency translation adjustments and unrealized gain (loss) on derivative instruments:

(In millions)	Foreign Currency Translation Adjustments		Unrealized Gain (Loss) On Derivative Instruments		Total
Balance as of March 29, 2024	$	(5)	$	16	$	11
Other comprehensive income (loss), net of taxes	(47)		(10)		(57)
Balance as of December 27, 2024	$	(52)	$	6	$	(46)