Shareholders' Equity (Tables)
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12 Months Ended |
Sep. 24, 2016 |
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| Equity [Abstract] |
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| Cash Dividends Declared and Paid Per Share |
The Company declared and paid cash dividends per share during the periods presented as follows: | | | | | | | | | | Dividends Per Share | | Amount (in millions) | 2016: | | | | Fourth quarter | $ | 0.57 |
| | $ | 3,071 |
| Third quarter | 0.57 |
| | 3,117 |
| Second quarter | 0.52 |
| | 2,879 |
| First quarter | 0.52 |
| | 2,898 |
| Total cash dividends declared and paid | $ | 2.18 |
| | $ | 11,965 |
| 2015: | | | | Fourth quarter | $ | 0.52 |
| | $ | 2,950 |
| Third quarter | 0.52 |
| | 2,997 |
| Second quarter | 0.47 |
| | 2,734 |
| First quarter | 0.47 |
| | 2,750 |
| Total cash dividends declared and paid | $ | 1.98 |
| | $ | 11,431 |
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| Accelerated Share Repurchase Activity and Related Information |
The following table shows the Company’s ASR activity and related information during the years ended September 24, 2016 and September 26, 2015: | | | | | | | | | | | | | | | Purchase Period End Date | | Number of Shares (in thousands) | | Average Repurchase Price Per Share | | ASR Amount (in millions) | August 2016 ASR | November 2016 | | 22,468 |
| (1) | (1) |
| | $ | 3,000 |
| May 2016 ASR | August 2016 | | 60,452 |
| (2) | $ | 99.25 |
| | $ | 6,000 |
| November 2015 ASR | April 2016 | | 29,122 |
| | $ | 103.02 |
| | $ | 3,000 |
| May 2015 ASR | July 2015 | | 48,293 |
| | $ | 124.24 |
| | $ | 6,000 |
| August 2014 ASR | February 2015 | | 81,525 |
| | $ | 110.40 |
| | $ | 9,000 |
| January 2014 ASR | December 2014 | | 134,247 |
| | $ | 89.39 |
| | $ | 12,000 |
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| | (1) | “Number of Shares” represents those shares delivered in the beginning of the purchase period and does not represent the final number of shares to be delivered under the ASR. The total number of shares ultimately delivered, and therefore the average repurchase price paid per share, will be determined at the end of the purchase period based on the volume-weighted average price of the Company’s common stock during that period. The August 2016 ASR purchase period will end in or before November 2016. |
| | (2) | Includes 48.2 million shares delivered and retired at the beginning of the purchase period, which began in the third quarter of 2016, and 12.3 million shares delivered and retired at the end of the purchase period, which concluded in the fourth quarter of 2016. |
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| Repurchases of Common Shares in Open Market |
Additionally, the Company repurchased shares of its common stock in the open market, which were retired upon repurchase, during the periods presented as follows: | | | | | | | | | | | | | Number of Shares (in thousands) | | Average Repurchase Price Per Share | | Amount (in millions) | 2016: | | | | | | Fourth quarter | 28,579 |
| | $ | 104.97 |
| | $ | 3,000 |
| Third quarter | 41,238 |
| | $ | 97.00 |
| | 4,000 |
| Second quarter | 71,766 |
| | $ | 97.54 |
| | 7,000 |
| First quarter | 25,984 |
| | $ | 115.45 |
| | 3,000 |
| Total open market common stock repurchases | 167,567 |
| | | | $ | 17,000 |
| 2015: | | | | | | Fourth quarter | 121,802 |
| | $ | 115.15 |
| | $ | 14,026 |
| Third quarter | 31,231 |
| | $ | 128.08 |
| | 4,000 |
| Second quarter | 56,400 |
| | $ | 124.11 |
| | 7,000 |
| First quarter | 45,704 |
| | $ | 109.40 |
| | 5,000 |
| Total open market common stock repurchases | 255,137 |
| | | | $ | 30,026 |
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