XML 139 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
STOCKHOLDERS' EQUITY
9 Months Ended
Jul. 31, 2013
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS EQUITY
15. STOCKHOLDERS' EQUITY
 
Stock Repurchase Program
 
On November 19, 2009 our board of directors approved a share-repurchase program to reduce or eliminate dilution of basic outstanding shares in connection with issuances of stock under the company's equity incentive plans (the "2009 repurchase program"). The 2009 repurchase program did not require the company to acquire a specific number of shares and could be suspended or discontinued at any time. There was no fixed termination date for the 2009 repurchase program.

On January 16, 2013, our board of directors terminated the 2009 repurchase program and approved a new share-repurchase program (the "2013 repurchase program"). The 2013 repurchase program authorizes the use of up to $500 million to repurchase shares of the company's common stock in open market transactions, inclusive of any amounts repurchased under the 2009 repurchase program since November 1, 2012. On May 14, 2013, we announced that our board of directors authorized an increase of $500 million to the 2013 repurchase program bringing the cumulative authorization to $1 billion. Unless terminated earlier by the board of directors, the 2013 repurchase program is designed to cover purchases until the end of the calendar year 2013 and any unused portion may be used in calendar year 2014. The 2013 repurchase program does not require the company to acquire a specific number of shares and may be suspended or discontinued at any time.

For the three months ended July 31, 2013, we repurchased 15 million shares for $681 million. For the nine months ended July 31, 2013, we repurchased 20 million shares for $900 million. For the three months ended July 31, 2012, no shares were repurchased. For the nine months ended July 31, 2012, we repurchased 2 million shares for $78 million. All such shares and related costs are held as treasury stock and accounted for using the cost method. As of July 31, 2013, $100 million remains to be used to repurchase shares under the 2013 repurchase program.
 
Cash Dividends on Shares of Common Stock
 
During the three and nine months ended July 31, 2013, we paid cash dividends of $0.12 per common share or $41 million and $0.34 per common share or $117 million, respectively, on the company's common stock. During the three and nine months ended July 31, 2012, we paid cash dividends of $0.10 per common share or $35 million and $0.20 per common share or $70 million, respectively, on the company's common stock.

The timing and amounts of any future dividends are subject to determination and approval by our board of directors.