| Equity |
Equity The Company declared the following dividends in fiscal 2026 and 2025: | | | | | | | | | | | | | | | | | Per Share | | Amount | | Payment Date | | | | $0.75 | | $1.3 billion(1) | | July 22, 2026 | | | | $0.75 | | $1.3 billion | | January 15, 2026 | | | | $0.50 | | $0.9 billion | | July 23, 2025 | | | | $0.50 | | $0.9 billion | | January 16, 2025 | | |
(1)Amount is estimated. The actual amount will be determined based on shareholders of record at the record date. Share Repurchase Program Effective February 7, 2024, the Board of Directors authorized the Company to repurchase a total of 400 million shares of its common stock. During the quarter and six months ended March 28, 2026, the Company repurchased 33 million and 51 million shares of its common stock for $3.5 billion and $5.5 billion, respectively. During the quarter and six months ended March 29, 2025, the Company repurchased 9 million and 17 million shares of its common stock for $1.0 billion and $1.8 billion, respectively. As of March 28, 2026, the Company had remaining authorization in place to repurchase approximately 288 million additional shares. The repurchase program does not have an expiration date. The following tables summarize the changes in each component of accumulated other comprehensive income (loss) (AOCI) including our proportional share of equity method investee amounts: | | | | | | | | | | | | | | | | | | | | | | | | | | Market Value
Adjustments
for Hedges | | Unrecognized
Pension and
Postretirement
Medical
Expense | | Foreign
Currency
Translation
and Other | | AOCI | | | | AOCI, before tax | | | Second quarter of fiscal 2026 | | | | | | | | | Balance at December 27, 2025 | $ | (507) | | | $ | (1,905) | | | $ | (1,098) | | | $ | (3,510) | | | Quarter Ended March 28, 2026: | | | | | | | | | Unrealized gains (losses) arising during the period | 145 | | | 8 | | | (294) | | | (141) | | | Reclassifications of realized net (gains) losses to net income | 86 | | | (4) | | | — | | | 82 | | | Balance at March 28, 2026 | $ | (276) | | | $ | (1,901) | | | $ | (1,392) | | | $ | (3,569) | | | | | | | | | | | Second quarter of fiscal 2025 | | | | | | | | | Balance at December 28, 2024 | $ | 152 | | | $ | (2,210) | | | $ | (1,197) | | | $ | (3,255) | | | Quarter Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | (213) | | | (7) | | | 50 | | | (170) | | | Reclassifications of realized net (gains) losses to net income | (117) | | | 33 | | | — | | | (84) | | | | | | | | | | | Balance at March 29, 2025 | $ | (178) | | | $ | (2,184) | | | $ | (1,147) | | | $ | (3,509) | | | | | | | | | | | Six months ended fiscal 2026 | | | | | | | | | Balance at September 27, 2025 | $ | (549) | | | $ | (1,901) | | | $ | (1,085) | | | $ | (3,535) | | | Six Months Ended March 28, 2026: | | | | | | | | | Unrealized gains (losses) arising during the period | 124 | | | 8 | | | (307) | | | (175) | | | Reclassifications of realized net (gains) losses to net income | 149 | | | (8) | | | — | | | 141 | | | | | | | | | | | Balance at March 28, 2026 | $ | (276) | | | $ | (1,901) | | | $ | (1,392) | | | $ | (3,569) | | | | | | | | | | | Six months ended fiscal 2025 | | | | | | | | | Balance at September 28, 2024 | $ | (319) | | | $ | (2,243) | | | $ | (1,855) | | | $ | (4,417) | | | Six Months Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | 346 | | | (7) | | | (196) | | | 143 | | | Reclassifications of realized net (gains) losses to net income | (205) | | | 66 | | | — | | | (139) | | | Star India Transaction | — | | | — | | | 904 | | | 904 | | | Balance at March 29, 2025 | $ | (178) | | | $ | (2,184) | | | $ | (1,147) | | | $ | (3,509) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Market Value
Adjustments
for Hedges | | Unrecognized
Pension and
Postretirement
Medical
Expense | | Foreign
Currency
Translation
and Other | | AOCI | | | | Tax on AOCI | | | Second quarter of fiscal 2026 | | | | | | | | | Balance at December 27, 2025 | $ | 109 | | | $ | 447 | | | $ | 54 | | | $ | 610 | | | Quarter Ended March 28, 2026: | | | | | | | | | Unrealized gains (losses) arising during the period | (34) | | | — | | | 61 | | | 27 | | | Reclassifications of realized net (gains) losses to net income | (20) | | | 1 | | | — | | | (19) | | | Balance at March 28, 2026 | $ | 55 | | | $ | 448 | | | $ | 115 | | | $ | 618 | | | | | | | | | | | Second quarter of fiscal 2025 | | | | | | | | | Balance at December 28, 2024 | $ | (38) | | | $ | 523 | | | $ | 82 | | | $ | 567 | | | Quarter Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | 50 | | | — | | | (4) | | | 46 | | | Reclassifications of realized net (gains) losses to net income | 27 | | | (8) | | | — | | | 19 | | | | | | | | | | | Balance at March 29, 2025 | $ | 39 | | | $ | 515 | | | $ | 78 | | | $ | 632 | | | | | | | | | | | Six months ended fiscal 2026 | | | | | | | | | Balance at September 27, 2025 | $ | 120 | | | $ | 446 | | | $ | 55 | | | $ | 621 | | | Six Months Ended March 28, 2026: | | | | | | | | | Unrealized gains (losses) arising during the period | (31) | | | — | | | 60 | | | 29 | | | Reclassifications of realized net (gains) losses to net income | (34) | | | 2 | | | — | | | (32) | | | | | | | | | | | Balance at March 28, 2026 | $ | 55 | | | $ | 448 | | | $ | 115 | | | $ | 618 | | | | | | | | | | | Six months ended fiscal 2025 | | | | | | | | | Balance at September 28, 2024 | $ | 71 | | | $ | 531 | | | $ | 116 | | | $ | 718 | | | Six Months Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | (80) | | | — | | | 20 | | | (60) | | | Reclassifications of realized net (gains) losses to net income | 48 | | | (16) | | | — | | | 32 | | | Star India Transaction | — | | | — | | | (58) | | | (58) | | | Balance at March 29, 2025 | $ | 39 | | | $ | 515 | | | $ | 78 | | | $ | 632 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Market Value
Adjustments
for Hedges | | Unrecognized
Pension and
Postretirement
Medical
Expense | | Foreign
Currency
Translation
and Other | | AOCI | | | | AOCI, after tax | | | Second quarter of fiscal 2026 | | | | | | | | | Balance at December 27, 2025 | $ | (398) | | | $ | (1,458) | | | $ | (1,044) | | | $ | (2,900) | | | Quarter Ended March 28, 2026: | | | | | | | | | Unrealized gains (losses) arising during the period | 111 | | | 8 | | | (233) | | | (114) | | | Reclassifications of realized net (gains) losses to net income | 66 | | | (3) | | | — | | | 63 | | | Balance at March 28, 2026 | $ | (221) | | | $ | (1,453) | | | $ | (1,277) | | | $ | (2,951) | | | | | | | | | | | Second quarter of fiscal 2025 | | | | | | | | | Balance at December 28, 2024 | $ | 114 | | | $ | (1,687) | | | $ | (1,115) | | | $ | (2,688) | | | Quarter Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | (163) | | | (7) | | | 46 | | | (124) | | | Reclassifications of realized net (gains) losses to net income | (90) | | | 25 | | | — | | | (65) | | | | | | | | | | | Balance at March 29, 2025 | $ | (139) | | | $ | (1,669) | | | $ | (1,069) | | | $ | (2,877) | | | | | | | | | | | Six months ended fiscal 2026 | | | | | | | | | Balance at September 27, 2025 | $ | (429) | | | $ | (1,455) | | | $ | (1,030) | | | $ | (2,914) | | | Six Months Ended March 28, 2026: | | | | | | | | | Unrealized gains (losses) arising during the period | 93 | | | 8 | | | (247) | | | (146) | | | Reclassifications of realized net (gains) losses to net income | 115 | | | (6) | | | — | | | 109 | | | | | | | | | | | Balance at March 28, 2026 | $ | (221) | | | $ | (1,453) | | | $ | (1,277) | | | $ | (2,951) | | | | | | | | | | | Six months ended fiscal 2025 | | | | | | | | | Balance at September 28, 2024 | $ | (248) | | | $ | (1,712) | | | $ | (1,739) | | | $ | (3,699) | | | Six Months Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | 266 | | | (7) | | | (176) | | | 83 | | | Reclassifications of realized net (gains) losses to net income | (157) | | | 50 | | | — | | | (107) | | Star India Transaction | — | | | — | | | 846 | | | 846 | | | Balance at March 29, 2025 | $ | (139) | | | $ | (1,669) | | | $ | (1,069) | | | $ | (2,877) | |
Details about AOCI components reclassified to net income are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gain (loss) in net income: | | Affected line item in the Condensed Consolidated Statements of Income: | | Quarter Ended | | Six Months Ended | | | March 28,
2026 | | March 29,
2025 | | March 28,
2026 | | March 29,
2025 | | Market value adjustments, primarily cash flow hedges | | Primarily revenue | | $ | (86) | | | $ | 117 | | | $ | (149) | | | $ | 205 | | | Estimated tax | | Income taxes | | 20 | | | (27) | | | 34 | | | (48) | | | | | | (66) | | | 90 | | | (115) | | | 157 | | | | | | | | | | | | | | | | | | | | | | | | | Pension and postretirement medical expense | | Interest expense, net | | 4 | | | (33) | | | 8 | | | (66) | | | Estimated tax | | Income taxes | | (1) | | | 8 | | | (2) | | | 16 | | | | | | 3 | | | (25) | | | 6 | | | (50) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total reclassifications for the period | | | | $ | (63) | | | $ | 65 | | | $ | (109) | | | $ | 107 | |
|