6 unchanged sentences
Issuer Purchases of Equity Securities
−Removed: Below is a summary of stock repurchases for the three months ended November 27, 2020.
+Added: Below is a summary of stock repurchases for the three months ended December 3, 2021.
See Note 14 of our Notes to Consolidated Financial Statements for information regarding our stock repurchase programs.
3 unchanged sentences
Beginning repurchase authority $ 14,434
−Removed: August 29 — September 25, 2020
−Removed: Shares repurchased 0.3 $ 490.89 0.3 $ (167)
September 4 — October 1, 2021
Shares repurchased 0.5 $ 656.47 0.5 $ (334)
−Removed: October 24 — November 27, 2020
+Added: October 2 — October 29, 2021
Shares repurchased 0.6 $ 596.55 0.6 $ (333) (2)
+Added: October 30 — December 3, 2021
+Added: Shares repurchased 0.5 $ 657.07 0.5 $ (333) (2)
Total 1.6 1.6 $ 13,434
_________________________________________
−Removed: (1) In May 2018, the Board of Directors granted authority to repurchase up to $8 billion in common stock through the end of fiscal 2021.
−Removed: (2) In September 2020, we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $850 million.
−Removed: As of November 27, 2020, approximately $255 million of the prepayment remained under this agreement.
−Removed: SELECTED FINANCIAL DATA
−Removed: The following selected consolidated financial data is derived from our Consolidated Financial Statements.
−Removed: As our historical operating results are not necessarily indicative of future operating results, this data should be read in conjunction with the Consolidated Financial Statements and notes thereto, and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
−Removed: On November 30, 2019, the beginning of our fiscal year 2020, we adopted the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Update (“ASU”) No.
−Removed: 2016-02, Leases (Topic 842), using the alternative modified retrospective transition method provided in ASU 2018-11, Leases (Topic 842):
−Removed: Targeted Improvements.
−Removed: Similarly, on December 1, 2018, the beginning of our fiscal year 2019, we adopted the FASB’s ASU No.
−Removed: 2014-09, Revenue from Contracts with Customers (Topic 606), using the modified retrospective method of transition.
−Removed: Financial information prior to the respective periods of adoption has not been restated and continues to be reported under the accounting standards in effect for those periods.
−Removed: (in millions, except per share amounts and employee data) Fiscal Years
−Removed: 2020 2019 2018 2017 2016 (2)
−Removed: Revenue $ 12,868 $ 11,171 $ 9,030 $ 7,302 $ 5,854
−Removed: Gross profit $ 11,146 $ 9,498 $ 7,835 $ 6,291 $ 5,035
−Removed: Income before income taxes $ 4,176 $ 3,205 $ 2,794 $ 2,138 $ 1,435
−Removed: Net income $ 5,260 $ 2,951 $ 2,591 $ 1,694 $ 1,169
−Removed: Net income per share:
−Removed: Basic $ 10.94 $ 6.07 $ 5.28 $ 3.43 $ 2.35
−Removed: Diluted $ 10.83 $ 6.00 $ 5.20 $ 3.38 $ 2.32
−Removed: Shares used to compute basic net income per share 481 486 491 494 498
−Removed: Shares used to compute diluted net income per share 485 492 498 501 504
−Removed: Financial position:
−Removed: Cash, cash equivalents and short-term investments $ 5,992 $ 4,177 $ 3,229 $ 5,820 $ 4,761
−Removed: Working capital (1)
−Removed: $ 2,634 $ (1,696) $ 556 $ 3,720 $ 3,028
−Removed: Total assets $ 24,284 $ 20,762 $ 18,769 $ 14,536 $ 12,697
−Removed: Debt, current $ — $ 3,149 $ — $ — $ —
−Removed: Debt, non-current $ 4,117 $ 989 $ 4,125 $ 1,881 $ 1,892
−Removed: Stockholders’ equity $ 13,264 $ 10,530 $ 9,362 $ 8,460 $ 7,425
−Removed: Additional data:
−Removed: Worldwide employees 22,516 22,634 21,357 17,973 15,706
−Removed: _________________________________________
−Removed: (1) As of November 29, 2019, working capital was in a deficit primarily due to the reclassification of our $2.25 billion term loan due April 30, 2020 and $900 million 4.75% senior notes due February 1, 2020 to current liabilities.
−Removed: We subsequently refinanced our Term Loan and 2020 Notes in February 2020, before the respective due dates.
−Removed: (2) Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30.
−Removed: Fiscal 2016 was a 53-week fiscal year compared with the other periods presented which were 52-week fiscal years.
+Added: (1) In December 2020, the Board of Directors granted authority to repurchase up to $15 billion in our common stock through the end of fiscal 2024.
+Added: (2) In September 2021, we entered into a structured stock repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $1 billion.
+Added: As of December 3, 2021, approximately $334 million of the prepayment remained under this agreement.
+Added: Table of Content s
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.