Issuer Purchases of Equity Securities
Issuer Purchases of Equity Securities
We have an ongoing authorization, amended in November 2005, from our Board of Directors to repurchase up to $25 billion in shares of our common stock in open market or negotiated transactions. As of December 29, 2007, $14.5 billion remained available for repurchase under the existing repurchase authorization. A portion of our purchases in the fourth quarter of 2007 were executed under a privately negotiated forward purchase agreement.
Common stock repurchases under our authorized plan in each quarter of 2007 were as follows (in millions, except per share amounts):
| Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans | ||||
|---|---|---|---|---|---|---|---|
| December 31, 2006–March 31, 2007 | 19.2 | $ | 20.82 | 19.2 | |||
| April 1, 2007–June 30, 2007 | 4.6 | $ | 21.95 | 4.6 | |||
| July 1, 2007–September 29, 2007 | 30.4 | $ | 24.63 | 30.4 | |||
| September 30, 2007–December 29, 2007 | 57.1 | $ | 26.29 | 57.1 | |||
| Total | 111.3 | $ | 24.71 | 111.3 | |||
Common stock repurchases under our authorized plan during the fourth quarter of 2007 were as follows (in millions, except per share amounts):
| Period | Total Number of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans | Dollar Value of Shares That May Yet Be Purchased Under the Plans | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| September 30, 2007–October 27, 2007 | 4.0 | $ | 26.53 | 4.0 | $ | 15,913 | ||||
| October 28, 2007–November 24, 2007 | 18.0 | $ | 25.85 | 18.0 | $ | 15,449 | ||||
| November 25, 2007–December 29, 2007 | 35.1 | $ | 26.48 | 35.1 | $ | 14,520 | ||||
| Total | 57.1 | $ | 26.29 | 57.1 | ||||||
For the majority of restricted stock units granted, the number of shares issued on the date the restricted stock units vest is net of the statutory withholding requirements that we pay on behalf of our employees. These withheld shares are not included within the common stock repurchase totals in the tables above. See "Note 5: Common Stock Repurchases" in Part II, Item 8 of this Form 10-K for further discussion.