Stockholders' Equity

6 Months Ended

Jan. 25, 2025

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

(a)Stock Repurchase Program

In September 2001, our Board of Directors authorized a stock repurchase program. On February 12, 2025, our Board of Directors authorized a $15 billion increase to the stock repurchase program. The remaining authorized amount for stock repurchases under this program, including the additional authorization, is approximately $17 billion, with no termination date. The stock repurchase activity for fiscal 2025 and 2024 under the stock repurchase program, reported based on the trade date, is summarized as follows (in millions, except per-share amounts):

Quarter Ended	Shares	Weighted-Average Price per Share		Amount
Fiscal 2025
January 25, 2025	21	$	58.58	$	1,236
October 26, 2024	40	$	49.56	$	2,003
Fiscal 2024
July 27, 2024	43	$	46.80	$	2,002
April 27, 2024	26	$	49.22	$	1,256
January 27, 2024	25	$	49.54	$	1,254
October 28, 2023	23	$	54.53	$	1,252

There were stock repurchases of $21 million and $25 million that were pending settlement January 25, 2025 and July 27, 2024, respectively.

The purchase price for the shares of our stock repurchased is reflected as a reduction to stockholders’ equity. We are required to allocate the purchase price of the repurchased shares as (i) a reduction to retained earnings or an increase to accumulated deficit and (ii) a reduction of common stock and additional paid-in capital.

(b)    Dividends Declared

On February 12, 2025, our Board of Directors declared a quarterly dividend of $0.41 per common share to be paid on April 23, 2025, to all stockholders of record as of the close of business on April 3, 2025. Future dividends will be subject to the approval of our Board of Directors.

(c) Preferred Stock

Under the terms of our Amended and Restated Certificate of Incorporation, the Board of Directors is authorized to issue preferred stock in one or more series and, in connection with the creation of such series, to fix by resolution the designation, powers (including voting powers (if any)), preferences and relative, participating, optional or other special rights, if any, of such series, and any qualifications, limitations or restrictions thereof, of the shares of such series. As of January 25, 2025, we have not issued any shares of preferred stock.