5 unchanged sentences
We intend to continue to pay quarterly dividends subject to capital availability and our view that cash dividends are in the best interests of our stockholders.
−Removed: Future cash dividends may be affected by, among other items, our views on potential future capital requirements, including those relating to research and development, creation and expansion of sales distribution channels and investments and acquisitions, legal risks, stock repurchase programs, debt issuance, changes in federal and state income tax law and changes to our business model.
+Added: Future cash dividends may be affected by, among other items, our views on potential future capital requirements, including those relating to research and development, creation and expansion of sales distribution channels and investments and acquisitions, legal risks, stock repurchase programs, debt issuances and repayments, changes in federal and state income tax law, and changes to our business model.
Issuer Purchases of Equity Securities
5 unchanged sentences
_________________________
−Removed: _________________________
−Removed: (1) The stock repurchase program approved by the Board of Directors on January 30, 2019, authorizes the repurchase of up to $2.0 billion of our common stock from time to time on the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements.
−Removed: The January 30, 2019, stock repurchase program replaced in its entirety the January 31, 2018, plan and is scheduled to expire on January 30, 2021.
+Added: (1) We announced on January 28, 2021, that our Board of Directors had approved a stock repurchase program on January 26, 2021, which authorizes the repurchase of up to $2.0 billion of our common stock from time to time on the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements and which expires on January 26, 2023.
(2) Represents shares repurchased by us at the fair market value of the common stock as of the applicable purchase date, in connection with the satisfaction of tax withholding obligations under equity award agreements.
−Removed: (3) 627,437 shares were repurchased at an average price of $142.12 per share as part of our stock repurchase program, and 8,744 shares were repurchased by us at the fair market value of the common stock as of the applicable purchase date, in connection with the satisfaction of tax withholding obligations under equity award agreements with an average price of $146.09 per share.
−Removed: (4) 1,025,231 shares were repurchased at an average price of $138.42 per share as part of our stock repurchase program, and 6,186 shares were repurchased by us at the fair market value of the common stock as of the applicable purchase date, in connection with the satisfaction of tax withholding obligations under equity award agreements with an average price of $142.76 per share.
−Removed: SELECTED FINANCIAL DATA.
−Removed: The information set forth below for the five years ended October 2, 2020, is not necessarily indicative of results of future operations, and should be read in conjunction with Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations , and our consolidated financial statements and related notes included in Part II, Item 8 of this Annual Report on Form 10-K to fully understand factors that may affect the comparability of the information presented below.
−Removed: Our fiscal year ends on the Friday closest to September 30.
−Removed: Fiscal 2020 consisted of 53 weeks and ended on October 2, 2020.
−Removed: Fiscal 2019, 2018, 2017, and 2016 each consisted of 52 weeks and ended on September 27, 2019, September 28, 2018, September 29, 2017, and September 30, 2016, respectively.
−Removed: The following table represents the selected financial data (in millions, except per share data):
−Removed: Fiscal Years Ended
−Removed: Statement of Operations Data:
−Removed: October 2, 2020 (1) September 27, 2019 (1) September 28, 2018 (2) September 29, 2017 September 30, 2016 (3)
−Removed: Net revenue $ 3,355.7 $ 3,376.8 $ 3,868.0 $ 3,651.4 $ 3,289.0
−Removed: Operating income $ 891.8 $ 952.0 $ 1,319.3 $ 1,253.8 $ 1,118.7
−Removed: Operating margin 26.6 % 28.2 % 34.1 % 34.3 % 34.0 %
−Removed: Net income $ 814.8 $ 853.6 $ 918.4 $ 1,010.2 $ 995.2
−Removed: Earnings per share:
−Removed: Basic $ 4.84 $ 4.92 $ 5.06 $ 5.48 $ 5.27
−Removed: Diluted $ 4.80 $ 4.89 $ 5.01 $ 5.41 $ 5.18
−Removed: Cash dividends declared per share $ 1.82 $ 1.58 $ 1.34 $ 1.16 $ 1.06
−Removed: Balance Sheet Data:
−Removed: October 2, 2020 September 27, 2019 September 28, 2018 September 29,
−Removed: 2017 September 30,
−Removed: Working capital $ 1,869.2 $ 1,860.6 $ 1,872.5 $ 2,245.8 $ 1,791.9
−Removed: Property, plant, and equipment, net $ 1,249.5 $ 1,205.6 $ 1,140.9 $ 882.3 $ 806.3
−Removed: Total assets $ 5,106.7 $ 4,839.6 $ 4,828.9 $ 4,573.6 $ 3,855.4
−Removed: Stockholders’ equity $ 4,164.2 $ 4,122.3 $ 4,097.0 $ 4,065.7 $ 3,541.4
−Removed: (1) Fiscal 2020 and fiscal 2019 net revenue, net income, and earnings per share were adversely impacted as a result of the U.S.
−Removed: Bureau of Industry and Security of the U.S.
−Removed: Department of Commerce placing Huawei on the Entity List in May 2019.
−Removed: (2) Fiscal 2018 net income and earnings per share include a one-time charge of $224.6 million related to the mandatory deemed repatriation tax on foreign earnings and a one-time charge of $18.3 million related to the revaluation of deferred tax assets and liabilities at the new corporate tax rate, as a result of the Tax Reform Act.
−Removed: (3) Fiscal 2016 net income and earnings per share include other income of $88.5 million related to the receipt of a merger termination fee in November 2015 in connection with the termination by PMC-Sierra, Inc.
−Removed: (“PMC”), of the Amended and Restated Agreement and Plan of Merger that we had entered into with PMC in October 2015.
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.