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Stockholders' Equity | 3 Months Ended
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Jul. 04, 2025
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders' Equity Dividends On August 7, 2025, we announced that our Board of Directors declared a cash dividend of $0.125 per share of common stock to be paid in September 2025. All shares of common stock issued and outstanding and all RSUs and performance-based restricted stock units (PRUs) as of the record date will be entitled to the dividend and dividend equivalent rights, respectively, which will be paid out if and when the underlying shares are released. However, the 4 million unvested RSUs assumed in connection with the acquisition of Avast and the 4 million assumed RSUs under the MoneyLion Plan will not be entitled to dividend equivalent rights (DERs). See Note 15 for further information about these equity awards. Any future dividends and DERs will be subject to the approval of our Board of Directors. Contingent value rights In connection with the acquisition of MoneyLion, we issued 12 million equity-classified CVRs to MoneyLion shareholders. The CVRs entitle holders to receive a contingent payment of $23.00 per CVR, payable in shares of Gen’s common stock, if our average volume-weighted average share price equals or exceeds $37.50 over any 30 consecutive trading days from December 10, 2024 until 24 months after close. The CVRs were recorded as a component of additional paid-in capital at a fair value of approximately $73 million as of the acquisition date, based on a Monte-Carlo simulation valuation model. As of July 4, 2025, there were 12 million CVRs outstanding, subject to the achievement of specified stock price conditions. Refer to Note 4 for additional information regarding the CVRs and our acquisition of MoneyLion. Stock repurchase program Under our stock repurchase program, we may purchase shares of our outstanding common stock on the open market and through accelerated stock repurchase transactions. As of July 4, 2025, we had $2,594 million remaining under the authorization to be completed in future periods. The following table summarizes activity related to our stock repurchase program during three months ended July 4, 2025 and June 28, 2024:
| Three Months Ended |  |
(In millions, except per share amounts) | July 4, 2025 |  | June 28, 2024 |  |  |  |
Number of shares repurchased | 5 |  |  | 11 |  |  |  |  |
Average price per share | $ | 27.86 |  |  | $ | 24.65 |  |  |  |  |
Aggregate purchase price | $ | 134 |  |  | $ | 272 |  |  |  |  |
Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss), net of taxes, consisted of foreign currency translation adjustments and unrealized gain (loss) on derivative instruments:
(In millions) | Foreign Currency Translation Adjustments |  | Unrealized Gain (Loss) On Derivative Instruments |  | Total |  |  |
Balance as of March 28, 2025 | $ | (36) |  |  | $ | 3 |  |  | $ | (33) |  |  |  |
Other comprehensive income (loss), net of taxes | 59 |  |  | — |  |  | 59 |  |  |  |
Balance as of July 4, 2025 | $ | 23 |  |  | $ | 3 |  |  | $ | 26 |  |  |  |

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