| Equity |
Equity The Company declared the following dividends in fiscal 2025 and 2024: | | | | | | | | | | | | | | | | | Per Share | | Amount | | Payment Date | | | | $0.50 | | $0.9 billion | | July 23, 2025(1) | | | | $0.50 | | $0.9 billion | | January 16, 2025 | | | | $0.45 | | $0.8 billion | | July 25, 2024 | | | | $0.30 | | $0.5 billion | | January 10, 2024 | | |
(1)Amount represents our estimate of the dividend that will be paid on July 23, 2025. The actual amount will be determined based on shareholders of record at June 24, 2025. Share Repurchase Program Effective February 7, 2024, the Board of Directors authorized the Company to repurchase a total of 400 million shares of its common stock. During the quarter and six months ended March 29, 2025, the Company repurchased 9.4 million and 16.5 million shares of its common stock for $1.0 billion and $1.8 billion, respectively (amount excludes the one percent excise tax on stock repurchases imposed by the Inflation Reduction Act of 2022). During the quarter and six months ended March 30, 2024, the Company repurchased 8.9 million shares of its common stock for $1.0 billion. As of March 29, 2025, the Company had remaining authorization in place to repurchase approximately 355 million additional shares. The repurchase program does not have an expiration date. The following tables summarize the changes in each component of accumulated other comprehensive income (loss) (AOCI) including our proportional share of equity method investee amounts: | | | | | | | | | | | | | | | | | | | | | | | | | | Market Value
Adjustments
for Hedges | | Unrecognized
Pension and
Postretirement
Medical
Expense | | Foreign
Currency
Translation
and Other | | AOCI | | | | AOCI, before tax | | Second quarter of fiscal 2025 | | | | | | | | | Balance at December 28, 2024 | $ | 152 | | | $ | (2,210) | | | $ | (1,197) | | | $ | (3,255) | | | Quarter Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | (213) | | | (7) | | | 50 | | | (170) | | | Reclassifications of realized net (gains) losses to net income | (117) | | | 33 | | | — | | | (84) | | | Balance at March 29, 2025 | $ | (178) | | | $ | (2,184) | | | $ | (1,147) | | | $ | (3,509) | | | | | | | | | | Second quarter of fiscal 2024 | | | | | | | | | Balance at December 30, 2023 | $ | (158) | | | $ | (2,199) | | | $ | (1,837) | | | $ | (4,194) | | | Quarter Ended March 30, 2024: | | | | | | | | | Unrealized gains (losses) arising during the period | 244 | | | (6) | | | (107) | | | 131 | | | Reclassifications of realized net (gains) losses to net income | (92) | | | (24) | | | — | | | (116) | | | | | | | | | | | Balance at March 30, 2024 | $ | (6) | | | $ | (2,229) | | | $ | (1,944) | | | $ | (4,179) | | | | | | | | | | Six months ended fiscal 2025 | | | | | | | | | Balance at September 28, 2024 | $ | (319) | | | $ | (2,243) | | | $ | (1,855) | | | $ | (4,417) | | | Six Months Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | 346 | | | (7) | | | (196) | | | 143 | | | Reclassifications of realized net (gains) losses to net income | (205) | | | 66 | | | — | | | (139) | | | Star India Transaction | — | | | — | | | 904 | | | 904 | | | Balance at March 29, 2025 | $ | (178) | | | $ | (2,184) | | | $ | (1,147) | | | $ | (3,509) | | | | | | | | | | Six months ended fiscal 2024 | | | | | | | | | Balance at September 30, 2023 | $ | 259 | | | $ | (2,172) | | | $ | (1,974) | | | $ | (3,887) | | | Six Months Ended March 30, 2024: | | | | | | | | | Unrealized gains (losses) arising during the period | (33) | | | (9) | | | 30 | | | (12) | | | Reclassifications of realized net (gains) losses to net income | (232) | | | (48) | | | — | | | (280) | | | | | | | | | | | Balance at March 30, 2024 | $ | (6) | | | $ | (2,229) | | | $ | (1,944) | | | $ | (4,179) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Market Value
Adjustments
for Hedges | | Unrecognized
Pension and
Postretirement
Medical
Expense | | Foreign
Currency
Translation
and Other | | AOCI | | | | Tax on AOCI | | | Second quarter of fiscal 2025 | | | | | | | | | Balance at December 28, 2024 | $ | (38) | | | $ | 523 | | | $ | 82 | | | $ | 567 | | | Quarter Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | 50 | | | — | | | (4) | | | 46 | | | Reclassifications of realized net (gains) losses to net income | 27 | | | (8) | | | — | | | 19 | | | Balance at March 29, 2025 | $ | 39 | | | $ | 515 | | | $ | 78 | | | $ | 632 | | | | | | | | | | | Second quarter of fiscal 2024 | | | | | | | | | Balance at December 30, 2023 | $ | 34 | | | $ | 523 | | | $ | 135 | | | $ | 692 | | | Quarter Ended March 30, 2024: | | | | | | | | | Unrealized gains (losses) arising during the period | (58) | | | — | | | 9 | | | (49) | | | Reclassifications of realized net (gains) losses to net income | 21 | | | 6 | | | — | | | 27 | | | | | | | | | | | Balance at March 30, 2024 | $ | (3) | | | $ | 529 | | | $ | 144 | | | $ | 670 | | | | | | | | | | | Six months ended fiscal 2025 | | | | | | | | | Balance at September 28, 2024 | $ | 71 | | | $ | 531 | | | $ | 116 | | | $ | 718 | | | Six Months Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | (80) | | | — | | | 20 | | | (60) | | | Reclassifications of realized net (gains) losses to net income | 48 | | | (16) | | | — | | | 32 | | | Star India Transaction | — | | | — | | | (58) | | | (58) | | | Balance at March 29, 2025 | $ | 39 | | | $ | 515 | | | $ | 78 | | | $ | 632 | | | | | | | | | | | Six months ended fiscal 2024 | | | | | | | | | Balance at September 30, 2023 | $ | (64) | | | $ | 517 | | | $ | 142 | | | $ | 595 | | | Six Months Ended March 30, 2024: | | | | | | | | | Unrealized gains (losses) arising during the period | 8 | | | — | | | 2 | | | 10 | | | Reclassifications of realized net (gains) losses to net income | 53 | | | 12 | | | — | | | 65 | | | | | | | | | | | Balance at March 30, 2024 | $ | (3) | | | $ | 529 | | | $ | 144 | | | $ | 670 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | Market Value
Adjustments
for Hedges | | Unrecognized
Pension and
Postretirement
Medical
Expense | | Foreign
Currency
Translation
and Other | | AOCI | | | | AOCI, after tax | | | Second quarter of fiscal 2025 | | | | | | | | | Balance at December 28, 2024 | $ | 114 | | | $ | (1,687) | | | $ | (1,115) | | | $ | (2,688) | | | Quarter Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | (163) | | | (7) | | | 46 | | | (124) | | | Reclassifications of realized net (gains) losses to net income | (90) | | | 25 | | | — | | | (65) | | | Balance at March 29, 2025 | $ | (139) | | | $ | (1,669) | | | $ | (1,069) | | | $ | (2,877) | | | | | | | | | | | Second quarter of fiscal 2024 | | | | | | | | | Balance at December 30, 2023 | $ | (124) | | | $ | (1,676) | | | $ | (1,702) | | | $ | (3,502) | | | Quarter Ended March 30, 2024: | | | | | | | | | Unrealized gains (losses) arising during the period | 186 | | | (6) | | | (98) | | | 82 | | | Reclassifications of realized net (gains) losses to net income | (71) | | | (18) | | | — | | | (89) | | | | | | | | | | | Balance at March 30, 2024 | $ | (9) | | | $ | (1,700) | | | $ | (1,800) | | | $ | (3,509) | | | | | | | | | | | Six months ended fiscal 2025 | | | | | | | | | Balance at September 28, 2024 | $ | (248) | | | $ | (1,712) | | | $ | (1,739) | | | $ | (3,699) | | | Six Months Ended March 29, 2025: | | | | | | | | | Unrealized gains (losses) arising during the period | 266 | | | (7) | | | (176) | | | 83 | | | Reclassifications of realized net (gains) losses to net income | (157) | | | 50 | | | — | | | (107) | | | Star India Transaction | — | | | — | | | 846 | | | 846 | | | Balance at March 29, 2025 | $ | (139) | | | $ | (1,669) | | | $ | (1,069) | | | $ | (2,877) | | | | | | | | | | | Six months ended fiscal 2024 | | | | | | | | | Balance at September 30, 2023 | $ | 195 | | | $ | (1,655) | | | $ | (1,832) | | | $ | (3,292) | | | Six Months Ended March 30, 2024: | | | | | | | | | Unrealized gains (losses) arising during the period | (25) | | | (9) | | | 32 | | | (2) | | | Reclassifications of realized net (gains) losses to net income | (179) | | | (36) | | | — | | | (215) | | | | | | | | | | | Balance at March 30, 2024 | $ | (9) | | | $ | (1,700) | | | $ | (1,800) | | | $ | (3,509) | |
Details about AOCI components reclassified to net income are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gain (loss) in net income: | | Affected line item in the Condensed Consolidated Statements of Operations: | | Quarter Ended | | Six Months Ended | | | March 29,
2025 | | March 30,
2024 | | March 29,
2025 | | March 30,
2024 | | Market value adjustments, primarily cash flow hedges | | Primarily revenue | | $ | 117 | | | $ | 92 | | | $ | 205 | | | $ | 232 | | | Estimated tax | | Income taxes | | (27) | | | (21) | | | (48) | | | (53) | | | | | | 90 | | | 71 | | | 157 | | | 179 | | | | | | | | | | | | | | | | | | | | | | | | | Pension and postretirement medical expense | | Interest expense, net | | (33) | | | 24 | | | (66) | | | 48 | | | Estimated tax | | Income taxes | | 8 | | | (6) | | | 16 | | | (12) | | | | | | (25) | | | 18 | | | (50) | | | 36 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total reclassifications for the period | | | | $ | 65 | | | $ | 89 | | | $ | 107 | | | $ | 215 | |
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