11 unchanged sentences
The table below summarizes the activity related to stock repurchases for the three months ended October 30, 2021.
+Added: We have an ongoing authorization, originally approved by our Board of Directors in 2004, and subsequently amended, to repurchase shares of our common stock in open market or negotiated transactions.
In March 2020, we temporarily suspended our share repurchase program as a result of the global macroeconomic environment.
That suspension continued through the fourth quarter of fiscal 2020 given the planned acquisition of Maxim Integrated Products, Inc.
−Removed: We reinstated the common stock repurchase program effective November 2020 (fiscal 2021).
+Added: We reinstated the common stock repurchase program effective November 2020.
+Added: In September 2021, we entered into Accelerated Share Repurchase agreements to repurchase $2.5 billion of our common stock.
+Added: These agreements were partially settled in September 2021 and we expect the remaining 20% of shares, or $500.0 million, to settle in the first half of the fiscal year ending October 29, 2022 (fiscal 2022).
+Added: As of October 30, 2021, the Company had repurchased a total of approximately 171.6 million shares of its common stock for approximately $8.8 billion under our share repurchase program, excluding the $500.0 million noted above.
+Added: An additional $7.4 billion remains available for repurchase of shares under the current authorized program.
Future repurchases of common stock will be dependent upon our financial position, results of operations, outlook, liquidity, and other factors we deem relevant.
13 unchanged sentences
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−Removed: (1) All shares repurchased related to shares withheld by us from employees to satisfy employee tax obligations upon vesting of restricted stock units/awards granted to our employees under our equity compensation plans.
+Added: (1) Includes 227,937 shares withheld by us from employees to satisfy employee tax obligations upon vesting of restricted stock units/awards granted to our employees under our equity compensation plans.
(2) The average price paid for shares in connection with vesting of restricted stock units/awards are averages of the closing stock price at the vesting date which is used to calculate the number of shares to be withheld.
3 unchanged sentences
Unless terminated earlier by resolution of our Board of Directors, the repurchase program will expire when we have repurchased all shares authorized for repurchase under the repurchase program.
+Added: (4) Includes a $500.0 million advance payment for the remaining 20% of shares to be delivered in the first half of 2022 under our Accelerated Share Repurchase agreement discussed above.
Comparative Stock Performance Graph
2 unchanged sentences
Measurement points are the last trading day for each respective fiscal year.
−Removed: SELECTED FINANCIAL DATA
−Removed: The following selected financial information has been derived from the Company's historical audited consolidated financial statements and should be read in conjunction with the Consolidated Financial Statements and the accompanying notes for the corresponding fiscal years.
−Removed: The following are noteworthy when comparing year to year:
−Removed: • The Company’s fiscal year is the 52-week or 53-week period ending on the Saturday closest to the last day in October.
−Removed: Fiscal 2020, 2019, 2017, and 2016 were 52-week fiscal years.
−Removed: Fiscal 2018 was a 53-week fiscal year.
−Removed: The additional week in fiscal 2018 was included in the first quarter ended February 3, 2018.
−Removed: Therefore, fiscal 2018 included an additional week of operations as compared to other periods presented;
−Removed: • Balances for fiscal 2018 and fiscal 2017 have been restated to reflect the adoption during fiscal 2019 of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASU 2014-09).
−Removed: Therefore, balances from fiscal 2016 may not be comparable to other periods presented;
−Removed: • Fiscal 2017 includes the results of operations from the acquisition of Linear Technology Corporation from March 10, 2017.
−Removed: (thousands, except per share amounts) 2020 2019
−Removed: Statement of Income data:
−Removed: Revenue $ 5,603,056 $ 5,991,065 $ 6,224,689 $ 5,246,354 $ 3,421,409
−Removed: Net income $ 1,220,761 $ 1,363,011 $ 1,506,980 $ 805,379 $ 861,664
−Removed: Net income per common share
−Removed: Basic $ 3.31 $ 3.68 $ 4.05 $ 2.32 $ 2.79
−Removed: Diluted $ 3.28 $ 3.65 $ 4.00 $ 2.29 $ 2.76
−Removed: Dividends declared per common share $ 2.40 $ 2.10 $ 1.89 $ 1.77 $ 1.66
−Removed: Balance Sheet data:
−Removed: Total assets $ 21,468,603 $ 21,392,641 $ 20,438,366 $ 21,118,283 $ 7,970,278
−Removed: Debt $ 5,145,102 $ 5,491,919 $ 6,332,674 $ 7,851,084 $ 1,732,177
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.