Cash Dividends Declared and Paid


	Fiscal Quarter Ended				Two Fiscal Quarters Ended
	May 3, 2026		May 4, 2025		May 3, 2026		May 4, 2025

	(In millions, except per share data)
Dividends per share to common stockholders	$	0.65	$	0.59	$	1.30	$	1.18
Dividends to common stockholders	$	3,092	$	2,785	$	6,178	$	5,559

In April 2025, our Board of Directors authorized a stock repurchase program to repurchase up to $10 billion of our common stock through December 31, 2025, which was subsequently extended through December 31, 2026 and increased to $11 billion. In March 2026, 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, 2026. We repurchased and retired 2 million and 25 million shares for $600 million and $8,450 million during the fiscal quarter and two fiscal quarters ended May 3, 2026, respectively. We also repurchased 16 million shares for $2,450 million during the fiscal quarter ended May 4, 2025. As of May 3, 2026, $10.1 billion of the authorized amount remained available for repurchase.


	Fiscal Quarter Ended				Two Fiscal Quarters Ended
	May 3, 2026		May 4, 2025		May 3, 2026		May 4, 2025

	(In millions)
Cost of products sold	$	64	$	50	$	130	$	83
Cost of subscriptions and services	159		153		329		273
Research and development	1,395		1,169		2,842		1,991
Selling, general and administrative	474		399		967		704
Total stock-based compensation expense	$	2,092	$	1,771	$	4,268	$	3,051

During the second quarter of fiscal year 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 of the Two-Year Equity Awards 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 May 3, 2026, the total unrecognized compensation cost related to unvested stock-based awards was $20,106 million, which is expected to be recognized over the remaining weighted-average service period of 3.0 years.

A summary of 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 2, 2025	229	$	127.63
Granted	4	$	323.86
Vested	(41)	$	85.50
Forfeited	(9)	$	137.42
Balance as of May 3, 2026	183	$	140.26

The aggregate fair value of RSUs that vested during the two fiscal quarters ended May 3, 2026 was $13,527 million, which represented the market value of our common stock on the date that the RSUs vested.