Quarterly report pursuant to Section 13 or 15(d)

Common Stock and Employee Equity Plans

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Common Stock and Employee Equity Plans
 3 Months Ended
Apr. 01, 2023
Equity [Abstract]  
Common Stock and Employee Equity Plans Common Stock and Employee Equity Plans
Common Stock
Shares of common stock outstanding were as follows:
Three Months Ended
April 1,
2023		 March 26,
2022
(In millions)
Balance, beginning of period 1,612  1,207 
Common stock issued in the acquisition of Xilinx —  429 
Common stock issued under employee equity plans 1  1 
Common stock repurchases for tax withholding on equity awards (1) (1)
Repurchases of common stock (3) (16)
Balance, end of period 1,609  1,620 
Stock Repurchase Program
In May 2021, the Company’s Board of Directors approved a stock repurchase program authorizing repurchases of up to $4 billion of the Company’s common stock (Existing Repurchase Program). In February 2022, the Company’s Board of Directors approved a new stock repurchase program in addition to the Existing Repurchase Program to purchase up to $8 billion of outstanding common stock in the open market (collectively referred to as the “Repurchase Program”).
During the three months ended April 1, 2023, the Company returned $241 million to shareholders through the repurchase of 3.0 million shares of its common stock under the Repurchase Program. As of April 1, 2023, $6.3 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
April 1,
2023		 March 26,
2022
(In millions)
Cost of sales $ 8  $ 4 
Research and development 214  113 
Marketing, general and administrative 87  82 
Total $ 309  $ 199 
During the three months ended April 1, 2023 and March 26, 2022, the Company recorded $4 million and $25 million of acquisition-related stock-based compensation expense under post-acquisition service conditions.