Shareholders' Equity

12 Months Ended

Sep. 28, 2014

Equity [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Shareholders’ Equity

Common Stock

During fiscal year 2013, the Company’s Board of Directors declared a two-for-one split of the Company’s common stock, which was effected through a stock dividend distributed on May 29, 2013. All references made to share or per share amounts in the accompanying consolidated financial statements and applicable disclosures reflect this two-for-one split.

Dividends per Common Share

The following table provides a summary of dividends declared per common share during fiscal years 2014 and 2013 (in millions, except per share amounts):

Date of declaration	Dividend per common share		Date of record	Date of payment	Total amount
Fiscal year 2014:
November 1, 2013	$	0.12	January 17, 2014	January 28, 2014	$	45
February 24, 2014	0.12		April 11, 2014	April 22, 2014	44
June 12, 2014	0.12		July 3, 2014	July 15, 2014	44
September 11, 2014 (1)	0.12		September 26, 2014	October 7, 2014	43
Fiscal year 2013:
November 29, 2012	$	1.00	December 10, 2012	December 21, 2012	$	371
November 7, 2012	0.10		January 18, 2013	January 29, 2013	37
March 15, 2013	0.10		April 12, 2013	April 23, 2013	37
June 12, 2013	0.10		July 5, 2013	July 16, 2013	37
September 10, 2013	0.10		September 27, 2013	October 8, 2013	37

⁽¹⁾ Dividend accrued at September 28, 2014

Treasury Stock

During fiscal year 2014, a new share repurchase program was authorized pursuant to the authority of the Company’s Board of Directors whereby the Company may make up to $1.0 billion in stock purchases of outstanding shares of the common stock of the Company through August 1, 2016. In connection with the new share repurchase program, the $322 million in remaining authorization under the Company’s previous share repurchase program was cancelled. The following table outlines the share repurchase program authorized by the Company’s Board of Directors, and the related repurchase activity as of September 28, 2014 (in millions):

Effective date	Expiration date	Amount authorized		Cost of repurchases		Authorization available
August 1, 2014	August 1, 2016	$	1,000	$	100	$	900

Under the new share repurchase program, purchases can be made from time to time using a variety of methods, which may include open market purchases. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. Purchases may be made through a Rule 10b5-1 plan pursuant to pre-determined metrics set forth in such plan. The Board’s authorization of the share repurchase program does not obligate the Company to acquire any particular amount of common stock, and the program may be suspended or discontinued at any time at the Company’s discretion.

Share repurchase activity for the fiscal years indicated was as follows (in millions, except per share amounts):

	2014		2013
Number of common shares acquired	13.9		2.6
Average price per common share acquired	$	41.51	$	48.70
Total cost of common shares acquired	$	578	$	125

Subsequent to fiscal year end, the Company repurchased approximately 0.9 million shares of the Company’s common stock at an average price per share of $47.39 for a total of approximately $43 million bringing the total current available authorization to approximately $857 million.