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Common Stock and Employee Equity Plans | 6 Months Ended
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Jun. 29, 2024
Equity [Abstract] |
Common Stock and Employee Equity Plans | Common Stock and Stock-based Compensation Common Stock Shares of common stock outstanding were as follows:
| Three Months Ended |  | Six Months Ended
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
| (In millions)
Balance, beginning of period | 1,618 |  |  | 1,609 |  |  | 1,616 |  |  | 1,612 |
Common stock issued under employee equity plans | 2 |  |  | 4 |  |  | 5 |  |  | 5 |
Common stock repurchases for tax withholding on equity awards | — |  |  | — |  |  | (1) |  |  | (1) |
Issuance of common stock upon warrant exercise | — |  |  | 1 |  |  | — |  |  | 1 |
Repurchases of common stock | (2) |  |  | — |  |  | (2) |  |  | (3) |
Balance, end of period | 1,618 |  |  | 1,614 |  |  | 1,618 |  |  | 1,614 |
Stock Repurchase Program The Company has an approved stock repurchase program authorizing repurchases of up to $12 billion of the Company’s common stock (Repurchase Program). During the three and six months ended June 29, 2024, the Company returned $352 million and $356 million, respectively, to shareholders through the repurchase of its common stock under the Repurchase Program. As of June 29, 2024, $5.2 billion remains available for future stock repurchases under the Repurchase Program. The Repurchase Program does not obligate the Company to acquire any common stock, has no termination date and may be suspended or discontinued at any time. Stock-based Compensation Stock-based compensation expense recorded in the condensed consolidated statements of operations was as follows:
| Three Months Ended |  | Six Months Ended
| June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
| (In millions)
Cost of sales | $ | 5 |  |  | $ | 10 |  |  | $ | 11 |  |  | $ | 18 |
Research and development | 262 |  |  | 247 |  |  | 541 |  |  | 461 |
Marketing, general and administrative | 79 |  |  | 91 |  |  | 165 |  |  | 178 |
Total | $ | 346 |  |  | $ | 348 |  |  | $ | 717 |  |  | $ | 657 |

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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