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Common Stock and Stock-based Compensation | 9 Months Ended
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Sep. 27, 2025
Equity [Abstract] |
Common Stock and Stock-based Compensation | Common Stock and Stock-based Compensation Common Stock On May 14, 2025, the Company’s stockholders approved the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 2.25 billion shares to 4.0 billion shares. Shares of common stock outstanding were as follows:
| Three Months Ended |  | Nine Months Ended
| September 27, 2025 |  | September 28, 2024 |  | September 27, 2025 |  | September 28, 2024
| (In millions)
Balance, beginning of period | 1,622 |  |  | 1,618 |  |  | 1,622 |  |  | 1,616 |
Common stock issued under employee equity plans | 9 |  |  | 10 |  |  | 13 |  |  | 15 |
Common stock repurchases for tax withholding on equity awards | (3) |  |  | (3) |  |  | (3) |  |  | (4) |
Repurchases of common stock | — |  |  | (2) |  |  | (12) |  |  | (4) |
Common stock issued in the acquisition of ZT Systems | — |  |  | — |  |  | 8 |  |  | — |
Balance, end of period | 1,628 |  |  | 1,623 |  |  | 1,628 |  |  | 1,623 |
Stock Repurchase Program On May 13, 2025, the Company’s board of directors approved a new $6 billion share repurchase program. The authorization is in addition to the Company’s existing share repurchase program (collectively, the Repurchase Program), increasing the total repurchase authority to $14 billion. During the three and nine months ended September 27, 2025, the Company repurchased 0.6 million and 12 million shares of its common stock under the Repurchase Program for $89 million and $1.3 billion, respectively. The repurchased amounts do not include the 1% excise tax on stock repurchases enacted by the Inflation Reduction Act of 2022. As of September 27, 2025, $9.4 billion remained 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 consolidated statements of operations was as follows:
| Three Months Ended |  | Nine Months Ended
| September 27, 2025 |  | September 28, 2024 |  | September 27, 2025 |  | September 28, 2024
| (In millions)
Cost of sales | $ | 7 |  |  | $ | 5 |  |  | $ | 18 |  |  | $ | 16 |
Research and development | 333 |  |  | 267 |  |  | 905 |  |  | 809 |
Marketing, general and administrative | 79 |  |  | 79 |  |  | 229 |  |  | 243 |
Total | $ | 419 |  |  | $ | 351 |  |  | $ | 1,152 |  |  | $ | 1,068 |

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent + Details
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