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Shareholders' Equity
12 Months Ended
Sep. 25, 2021
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
As of September 25, 2021, the Company was authorized to purchase up to $315 billion of the Company’s common stock under a share repurchase program (the “Program”). During 2021, the Company repurchased 656 million shares of its common stock for $85.5 billion, including 36 million shares delivered under a $5.0 billion accelerated share repurchase agreement entered into in May 2021, bringing the total utilization under the Program to $254.1 billion as of September 25, 2021. The Program does not obligate the Company to acquire any specific number of shares. Under the 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 2021, 2020 and 2019 (in thousands):
202120202019
Common stock outstanding, beginning balances
16,976,763 17,772,945 19,019,943 
Common stock repurchased
(656,340)(917,270)(1,380,819)
Common stock issued, net of shares withheld for employee taxes
106,363 121,088 133,821 
Common stock outstanding, ending balances
16,426,786 16,976,763 17,772,945