Stockholders' Equity
NOTE 18 — STOCKHOLDERS' EQUITY
Shares Outstanding
Shares of common stock outstanding were as follows:
| (In millions) | |||||
| Year Ended June 30, | 2012 | 2011 | 2010 | ||
| Balance, beginning of year | 8,376 | 8,668 | 8,908 | ||
| Issued | 147 | 155 | 140 | ||
| Repurchased | (142) | (447) | (380) | ||
| Balance, end of year | 8,381 | 8,376 | 8,668 |
Share Repurchases
On September 22, 2008, we announced that our Board of Directors approved a share repurchase program authorizing up to $40.0 billion in share repurchases with an expiration date of September 30, 2013. As of June 30, 2012, approximately $8.2 billion of the approved repurchase amount remained. The repurchase program may be suspended or discontinued at any time without prior notice.
We repurchased the following shares of common stock under the above-described repurchase plan using cash resources:
| (In millions) | Shares | Amount | Shares | Amount | Shares | Amount | |||||
| Year Ended June 30, | 2012 | 2011 | 2010 | ||||||||
| First quarter | 38 | $ 1,000 | 163 | $ 4,000 | 58 | $ 1,445 | |||||
| Second quarter | 39 | 1,000 | 188 | 5,000 | 125 | 3,583 | |||||
| Third quarter | 31 | 1,000 | 30 | 827 | 67 | 2,000 | |||||
| Fourth quarter | 34 | 1,000 | 66 | 1,631 | 130 | 3,808 | |||||
| Total | 142 | $ 4,000 | 447 | $ 11,458 | 380 | $ 10,836 |
Dividends
In fiscal year 2012, our Board of Directors declared the following dividends:
| Declaration Date | Dividend Per Share |
Record Date | Total Amount | Payment Date | |||
| (In millions) | |||||||
| September 20, 2011 | $ 0.20 | November 17, 2011 | $ 1,683 | December 8, 2011 | |||
| December 14, 2011 | $ 0.20 | February 16, 2012 | $ 1,683 | March 8, 2012 | |||
| March 13, 2012 | $ 0.20 | May 17, 2012 | $ 1,678 | June 14, 2012 | |||
| June 13, 2012 | $ 0.20 | August 16, 2012 | $ 1,676 | September 13, 2012 | |||
The dividend declared on June 13, 2012 will be paid after the filing date of our Form 10-K and was included in other current liabilities as of June 30, 2012. In fiscal year 2011, our Board of Directors declared the following dividends: |
|||||||
| Declaration Date | Dividend Per Share |
Record Date | Total Amount | Payment Date | |||
| (In millions) | |||||||
| September 21, 2010 | $ 0.16 | November 18, 2010 | $ 1,363 | December 9, 2010 | |||
| December 15, 2010 | $ 0.16 | February 17, 2011 | $ 1,349 | March 10, 2011 | |||
| March 14, 2011 | $ 0.16 | May 19, 2011 | $ 1,350 | June 9, 2011 | |||
| June 15, 2011 | $ 0.16 | August 18, 2011 | $ 1,341 | September 8, 2011 | |||
The dividend declared on June 15, 2011 was included in other current liabilities as of June 30, 2011.
