Shareholders' Equity

12 Months Ended

Sep. 28, 2019

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share Repurchase Program

On April 30, 2019, the Company announced the Board of Directors increased the current share repurchase program authorization from $100 billion to $175 billion of the Company’s common stock, of which $96.1 billion had been utilized as of September 28, 2019. During 2019, the Company repurchased 345.2 million shares of its common stock for $67.1 billion, including 62.0 million shares delivered under a $12.0 billion accelerated share repurchase arrangement dated February 2019, which settled in August 2019. The Company’s share repurchase program does not obligate it to acquire any specific number of shares. Under this program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Shares of Common Stock

The following table shows the changes in shares of common stock for 2019, 2018 and 2017 (in thousands):

	2019		2018		2017
Common stock outstanding, beginning balances	4,754,986		5,126,201		5,336,166
Common stock repurchased	(345,205	)	(405,549	)	(246,496	)
Common stock issued, net of shares withheld for employee taxes	33,455		34,334		36,531
Common stock outstanding, ending balances	4,443,236		4,754,986		5,126,201