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Subsequent Events

6 Months Ended

May 05, 2024

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

Cash Dividends Declared

On June 11, 2024, our Board of Directors declared a quarterly cash dividend of $5.25 per share on our common stock, payable on June 28, 2024 to stockholders of record on June 24, 2024.

Common Stock Split

On June 12, 2024, we announced a ten-for-one forward stock split of our common stock. The stock split will be effected through the filing of an amendment to our Amended and Restated Certificate of Incorporation. Our stockholders of record after the close of market on July 11, 2024 will receive an additional nine shares of common stock for each share held after the close of market on July 12, 2024. At market open on July 15, 2024, trading is expected to commence on a split-adjusted basis.

The following table reflects basic and diluted weighted average shares and net income per share on an unaudited pro forma basis giving effect to the ten-for-one stock split as if it had been effective for all periods presented:

						Pro Forma (Unaudited)
						Fiscal Quarter Ended												Two Fiscal Quarters Ended
						May 5, 2024						April 30, 2023						May 5, 2024						April 30, 2023
						(In millions, except per share data)
Numerator:
Income from continuing operations						$	2,121					$	3,481					$	3,395					$	7,255
Income from discontinued operations, net of income taxes						—						—						51						—
Net income						$	2,121					$	3,481					$	3,446					$	7,255
Denominator:
Weighted-average shares outstanding - basic						4,650						4,150						4,580						4,170
Dilutive effect of equity awards						150						120						150						110
Weighted-average shares outstanding - diluted						4,800						4,270						4,730						4,280
Basic income per share:
Income per share from continuing operations						$	0.46					$	0.84					$	0.74					$	1.74
Income per share from discontinued operations						—						—						0.01						—
Net income per share						$	0.46					$	0.84					$	0.75					$	1.74
Diluted income per share:
Income per share from continuing operations						$	0.44					$	0.82					$	0.72					$	1.70
Income per share from discontinued operations						—						—						0.01						—
Net income per share						$	0.44					$	0.82					$	0.73					$	1.70

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- References

No definition available.

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- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//855/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 855
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483399/855-10-50-2

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