XML 36 R15.htm IDEA: XBRL DOCUMENT v3.21.2
Common Stock and Employee Equity Plans
 6 Months Ended
Jun. 26, 2021
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 EndedSix Months Ended
June 26,
2021		June 27,
2020		June 26,
2021		June 27,
2020
(In millions)
Balance, beginning of period1,215 1,171 1,211 1,170 
Common stock issued under employee equity plans1 3 2 4 
Issuance of common stock to settle convertible debt— — 3 — 
Repurchase of common stock(3)— (3)— 
Balance, end of period1,213 1,174 1,213 1,174 
Stock Repurchase Program
In May 2021, the Company’s Board of Directors approved a stock repurchase program authorizing up to $4 billion of repurchases of the Company’s outstanding common stock (the Repurchase Program). During the three and six months ended June 26, 2021, the Company repurchased 3 million shares of its common stock under the Repurchase Program, for a total cash outlay of $256 million. As of June 26, 2021, $3.7 billion remains available for future stock repurchases under this 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 was as follows: 
Three Months EndedSix Months Ended
June 26,
2021		June 27,
2020		June 26,
2021		June 27,
2020
(In millions)
Cost of sales$1 $2 $2 $4 
Research and development53 37 108 74 
Marketing, general and administrative29 21 58 41 
Total stock-based compensation expense before income taxes83 60 168 119 
Income tax benefit(14)— (27)— 
Total stock-based compensation expense after income taxes$69 $60 $141 $119