Equity

3 Months Ended

Feb. 12, 2023

Equity [Abstract]

Stockholders' equity

Note 5—Equity

Dividends

A quarterly cash dividend of $0.90 per share was declared on January 19, 2023 and paid on February 17, 2023. The Company's quarterly dividend was $0.79 per share in the second quarter of 2022 and dividends totaled $1.80 and $1.58 per share in the first half of 2023 and 2022.

Share Repurchase Program

On January 19, 2023, the Board of Directors authorized a new share repurchase program in the amount of $4,000, which expires in January 2027. This authorization revoked previously authorized but unused amounts, totaling $2,568. At February 12, 2023, the remaining amount available under the program was $3,955. The following table summarizes the Company's stock repurchase activity:

	Shares Repurchased (000s)	Average Price per Share		Total Cost
Second quarter of 2023	294	$	488.30	$	144
First half of 2023	579	$	492.06	$	285
Second quarter of 2022	159	$	518.73	$	83
First half of 2022	236	$	498.00	$	118

These amounts may differ from the accompanying condensed consolidated statements of cash flows due to changes in unsettled stock repurchases at the end of each quarter. Purchases are made from time to time, as conditions warrant, in the open market or in block purchases and pursuant to plans under SEC Rule 10b5-1.