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Equity | 9 Months Ended
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Jul. 01, 2017
Equity [Abstract] |
Equity | EQUITY Share Repurchases As of July 1, 2017, 27.8 million shares remained available for repurchase under our share repurchase program. The share repurchase program has no fixed or scheduled termination date and the timing and extent to which we repurchase shares will depend upon, among other things, our working capital needs, markets, industry conditions, liquidity targets, limitations under our debt obligations and regulatory requirements. In addition to the share repurchase program, we purchase shares on the open market to fund certain obligations under our equity compensation plans. A summary of share repurchases of our Class A stock is as follows (in millions):
|  | Three Months Ended |  | Nine Months Ended
|  | July 1, 2017 |  | July 2, 2016 |  | July 1, 2017 |  | July 2, 2016
|  | Shares |  | Dollars |  | Shares |  | Dollars |  | Shares |  | Dollars |  | Shares |  | Dollars
Shares repurchased: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Under share repurchase program |  | 1.3 |  |  | $ | 80 |  |  | 7.1 |  |  | $ | 457 |  |  | 12.5 |  |  | $ | 797 |  |  | 22.0 |  |  | $ | 1,235 |
To fund certain obligations under equity compensation plans |  | 0.2 |  |  | 10 |  |  | 0.1 |  |  | 10 |  |  | 0.8 |  |  | 51 |  |  | 1.2 |  |  | 58 |
Total share repurchases |  | 1.5 |  |  | $ | 90 |  |  | 7.2 |  |  | $ | 467 |  |  | 13.3 |  |  | $ | 848 |  |  | 23.2 |  |  | $ | 1,293 |
Tangible Equity Units In fiscal 2014, we completed the public issuance of 30 million 4.75% tangible equity units (TEUs). Total proceeds, net of underwriting discounts and other expenses, were $1,454 million. Each TEU had a stated amount of $50 and was comprised of a prepaid stock purchase contract and a senior amortizing note due July 15, 2017. We allocated the proceeds from the issuance of the TEUs to equity and debt based on the relative fair values of the respective components of each TEU. The fair value of the prepaid stock purchase contracts, which was $1,295 million, was recorded in Capital in Excess of Par Value, net of issuance costs. The fair value of the senior amortizing notes, which was $205 million, was recorded in debt. Issuance costs associated with the TEU debt were recorded as deferred debt issuance cost and was amortized over the term of the instrument to July 15, 2017. The aggregate values assigned upon issuance of each component of the TEUs, based on the relative fair value of the respective components of each TEU, were as follows (in millions, except price per TEU):
| Equity Component |  | Debt Component |  | Total
Price per TEU | $ | 43.17 |  |  | $ | 6.83 |  |  | $ | 50.00 |
Gross proceeds | 1,295 |  |  | 205 |  |  | 1,500 |
Issuance cost | (40 | ) |  | (6 | ) |  | (46 | )
Net proceeds | $ | 1,255 |  |  | $ | 199 |  |  | $ | 1,454 |
As of July 1, 2017, holders settled 22.8 million purchase contracts and, in exchange, the Company issued 24.2 million shares of its Class A stock. Upon early settlement of these purchase contracts, the corresponding amortizing notes remained outstanding and beneficially owned by the holders that settled purchase contracts early. As of July 1, 2017, 7.2 million TEUs remained outstanding. On July 17, 2017, the Company made the final quarterly cash installment payment of $0.59 per senior amortizing note, or a total of $18 million, and issued 7.8 million shares of its Class A stock upon automatic settlement of each outstanding purchase contract.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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