Stockholders’ Equity

Preferred stock

Our Board of Directors has the authority to issue up to 1 million shares of preferred stock and to determine the price, rights, preferences, privileges, and restrictions, including voting rights, of those shares without any further vote or action by the stockholders. As of March 29, 2019 and March 30, 2018, there were no shares outstanding.

Dividends

On May 9, 2019, we announced a cash dividend of $0.075 per share of common stock to be paid in June 2019. All shares of common stock issued and outstanding and all RSUs and PRUs as of the record date will be entitled to the dividend and dividend equivalents, respectively. Any future dividends and dividend equivalents will be subject to the approval of our Board of Directors.

Stock repurchase program

Under our stock repurchase program, we may purchase shares of our outstanding common stock through open market and through accelerated stock repurchase (ASR) transactions. In fiscal 2019, we executed share repurchases of 11 million shares for $252 million in the open market at an average price of $22.68 per share, including $18 million for 1 million shares settled in April 2019. In fiscal 2018, we received 2 million shares at an average price of $30.51 per share from the final settlement of an ASR entered into in fiscal 2017 under which we made a prepayment of $500 million in March 2017 and received an initial delivery of 14 million shares. In January 2019, our Board of Directors increased their authorization by $500 million. As of March 29, 2019, we have $1,048 million remaining under the authorization to be completed in future periods with no expiration date.

Accumulated other comprehensive income (loss)

Components and activities of AOCI, net of tax, were as follows:



(In millions)	Foreign Currency Translation Adjustments			Unrealized Gain (Loss) On Available-For-Sale Securities			Equity Method Investee			Total AOCI
Balance as of March 31, 2017	$	7		$	5		$	—		$	12
Other comprehensive loss before reclassifications	(4		)	(5		)	—			(9		)
Reclassification to net income (loss)	5			(4		)	—			1
Balance as of March 30, 2018	8			(4		)	—			4
Other comprehensive income (loss) before reclassifications	(13		)	3			(1		)	(11		)
Balance as of March 29, 2019	$	(5	)	$	(1	)	$	(1	)	$	(7	)

During fiscal 2018, a net foreign currency translation loss of $8 million related to foreign entities sold in the divestiture of our WSS and PKI solutions was reclassified to Gain on divestiture, and a net gain of $3 million related to liquidated foreign entities was reclassified to Other income (expense), net. A realized gain of $7 million on securities sold in connection with the divestiture of our WSS and PKI solutions was reclassified to Gain on divestiture. The tax effect of $3 million was reclassified to Income tax expense (benefit).