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Stock-Based Compensation Plans
12 Months Ended
Sep. 03, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Plans Note 7—Stock-Based CompensationThe 2019 Incentive Plan authorized the issuance of 17,500,000 shares (10,000,000 RSUs) of common stock for future grants, plus the remaining shares that were available for grant and the future forfeited shares from grants under the previous plan, up to a maximum aggregate of 27,800,000 shares (15,885,000 RSUs). The Company issues new shares of common stock upon vesting of RSUs. Shares for vested RSUs are generally delivered to participants annually, net of shares withheld for taxes.Summary of Restricted Stock Unit ActivityAt the end of 2023, 8,747,000 shares were available to be granted as RSUs, and the following awards were outstanding:•2,869,000 time-based RSUs, which vest upon continued employment or service over specified periods of time; and•176,000 performance-based RSUs, of which 135,000 were granted to executive officers subject to the determination of the attainment of performance targets for 2023. This determination occurred in September 2023, at which time at least 33% of the units vested, as a result of the long service of all executive officers, with the exception of one executive officer who has less than 25 years of service. The remaining awards vest upon continued employment over specified periods of time. Please refer to Note 1 for accelerated vesting requirements.The following table summarizes RSU transactions during 2023:Number ofUnits(in 000’s)Weighted-AverageGrant Date FairValueOutstanding at the end of 20223,449 $338.41 Granted1,814 471.47 Vested and delivered(2,102)352.53 Forfeited(116)398.31 Outstanding at the end of 20233,045 $405.63 The weighted-average grant date fair value of RSUs granted was $471.47, $476.06, and $369.15 in 2023, 2022, and 2021. The remaining unrecognized compensation cost related to non-vested RSUs at the end of 2023 was $790 and the weighted-average period of time over which this cost will be recognized is 1.6 years. Included in the outstanding balance at the end of 2023 were approximately 1,050,000 RSUs vested but not yet delivered.Summary of Stock-Based CompensationThe following table summarizes stock-based compensation expense and the related tax benefits:202320222021Stock-based compensation expense$774 $724 $665 Less recognized income tax benefit 163 154 140 Stock-based compensation expense, net$611 $570 $525