Quarterly report pursuant to Section 13 or 15(d)

Common Stock and Employee Equity Plans

v3.24.3
Common Stock and Employee Equity Plans
 9 Months Ended
Sep. 28, 2024
Equity [Abstract]  
Common Stock and Employee Equity Plans Common Stock and Stock-based Compensation
Common Stock
Shares of common stock outstanding were as follows:
Three Months Ended Nine Months Ended
September 28,
2024		 September 30,
2023		 September 28,
2024		 September 30,
2023
(In millions)
Balance, beginning of period 1,618  1,614  1,616  1,612 
Common stock issued under employee equity plans 10  9  15  14 
Common stock repurchases for tax withholding on equity awards (3) (3) (4) (4)
Issuance of common stock upon warrant exercise —  —  —  1 
Repurchases of common stock (2) (5) (4) (8)
Balance, end of period 1,623  1,615  1,623  1,615 
Stock Repurchase Program
The Company has an approved stock repurchase program authorizing repurchases of up to $12 billion of the Company’s common stock (Repurchase Program). During the three and nine months ended September 28, 2024, the Company returned $250 million and $606 million, respectively, to shareholders through the repurchase of its common stock under the Repurchase Program. As of September 28, 2024, $4.9 billion remains available for future stock repurchases under the Repurchase Program. The Repurchase Program does not obligate the Company to acquire any common stock, has no termination date and may be suspended or discontinued at any time.
Stock-based Compensation
Stock-based compensation expense recorded in the condensed consolidated statements of operations was as follows: 
Three Months Ended Nine Months Ended
September 28,
2024		 September 30,
2023		 September 28,
2024		 September 30,
2023
(In millions)
Cost of sales $ 5  $ 6  $ 16  $ 24 
Research and development 267  260  809  721 
Marketing, general and administrative 79  87  243  265 
Total $ 351  $ 353  $ 1,068  $ 1,010