Cash Dividends Declared and Paid


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	August 3, 2025		August 4, 2024		August 3, 2025		August 4, 2024

	(In millions, except per share data)
Dividends per share to common stockholders	$	0.590	$	0.525	$	1.770	$	1.575
Dividends to common stockholders	$	2,786	$	2,452	$	8,345	$	7,330

In April 2025, our Board of Directors authorized a stock repurchase program to repurchase up to $10 billion of our common stock from time to time through December 31, 2025. During the fiscal quarter ended May 4, 2025, we repurchased and retired 16 million shares of our common stock for $2,450 million under this stock repurchase program. Repurchases under this stock repurchase program may be effected through a variety of methods, including open market or privately negotiated purchases. The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors. We are not obligated to repurchase any specific amount of shares of common stock, and the stock repurchase program may be suspended or terminated at any time.

In December 2021 and May 2022, our Board of Directors authorized stock repurchase programs to repurchase up to an aggregate of $20 billion of our common stock from time to time prior to December 31, 2023. During the fiscal quarter ended February 4, 2024, we repurchased and retired 67 million shares of our common stock for $7,176 million, and all $20 billion of the aggregate authorized amount was utilized prior to expiration on December 31, 2023.


	Fiscal Quarter Ended				Three Fiscal Quarters Ended
	August 3, 2025		August 4, 2024		August 3, 2025		August 4, 2024

	(In millions)
Cost of products sold	$	69	$	31	$	152	$	87
Cost of subscriptions and services	182		143		455		418
Research and development	1,573		877		3,564		2,621
Selling, general and administrative	498		330		1,202		1,230
Total stock-based compensation expense (a)	$	2,322	$	1,381	$	5,373	$	4,356

(a) Does not include stock-based compensation expense related to discontinued operations recognized during the fiscal quarter and three fiscal quarters ended August 4, 2024, which was included in loss from discontinued operations, net of income taxes in our condensed consolidated statements of operations.

During the fiscal quarter ended May 4, 2025, we granted two-year time- and market-based RSU awards (the “Two-Year Equity Awards”), in lieu of our annual employee equity awards historically granted in the second quarter of each fiscal year. Each Two-Year Equity Award vests on the same basis as two annual grants with staggered vesting start dates of March 15, 2025 and March 15, 2026 and successive four-year vesting periods. We recognize stock-based compensation expense related to these awards from the grant date through their respective vesting date, ranging from four to five years.

As of August 3, 2025, the total unrecognized compensation cost related to unvested stock-based awards was $25,057 million, which is expected to be recognized over the remaining weighted-average service period of 3.6 years.

A summary of time- and market-based RSU activity is as follows:


	Number of RSUs Outstanding	Weighted-Average Grant Date Fair Value Per Share

	(In millions, except per share data)
Balance as of November 3, 2024	213	$	66.44
Granted	117	$	187.96
Vested	(69)	$	66.46
Forfeited	(14)	$	101.17
Balance as of August 3, 2025	247	$	122.05

The aggregate fair value of time- and market-based RSUs that vested during the three fiscal quarters ended August 3, 2025 was $15,075 million, which represented the market value of our common stock on the date that the RSUs vested. The number of RSUs vested included shares of common stock that we withheld for settlement of employees’ tax obligations due upon the vesting of RSUs.