Quarterly report pursuant to Section 13 or 15(d)

Common Stock and Employee Equity Plans

v3.23.3
Common Stock and Employee Equity Plans
 9 Months Ended
Sep. 30, 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 Nine Months Ended
September 30,
2023		 September 24,
2022		 September 30,
2023		 September 24,
2022
(In millions)
Balance, beginning of period 1,614  1,612  1,612  1,207 
Common stock issued in the acquisition of Xilinx —  —  —  429 
Common stock issued under employee equity plans 9  10  14  14 
Common stock repurchases for tax withholding on equity awards (3) (3) (4) (5)
Issuance of common stock upon warrant exercise —  —  1  — 
Repurchases of common stock (5) (7) (8) (33)
Balance, end of period 1,615  1,612  1,615  1,612 
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 30, 2023, the Company returned $511 million and $752 million to shareholders through the repurchase of 5 million and 8 million shares of its common stock under the Repurchase Program, respectively. As of September 30, 2023, $5.8 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 30,
2023		 September 24,
2022		 September 30,
2023		 September 24,
2022
(In millions)
Cost of sales $ 6  $ 8  $ 24  $ 20 
Research and development 260  185  721  478 
Marketing, general and administrative 87  82  265  268 
Total $ 353  $ 275  $ 1,010  $ 766