Free Cash Flow Reconciliation | |||||||
|
| |||||||
|
| Three Months Ended Dec. 31, |
| Twelve Months Ended Dec. 31, | ||||
(In thousands) | 2023 |
| 2022 |
| 2023 |
| 2022 |
Net cash provided by operating activities | $ 622,242 |
| $ 688,290 |
| $ 3,475,952 |
| $ 3,337,942 |
Capital expenditures | (76,801) |
| (93,642) |
| (308,443) |
| (351,458) |
Free cash flow | $ 545,441 |
| $ 594,648 |
| $ 3,167,509 |
| $ 2,986,484 |
Capital Returns Calculation | |||||||
|
| |||||||
|
| Three Months Ended Dec. 31, |
| Twelve Months Ended Dec. 31, | ||||
(In thousands) | 2023 |
| 2022 |
| 2023 |
| 2022 |
Payments of dividends to stockholders | $ 196,859 |
| $ 184,208 |
| $ 738,730 |
| $ 688,770 |
Common stock repurchases | 437,817 |
| 355,007 |
| 1,760,240 |
| 3,583,108 |
Forward contract for accelerated share repurchases | — |
| — |
| — |
| 900,000 |
Capital returns | $ 634,676 |
| $ 539,215 |
| $ 2,498,970 |
| $ 5,171,878 |
Third Quarter Fiscal 2024 Guidance
Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS | ||||
|
| ||||
|
|
| Three Months Ending March 31, 2024 | ||
(In millions, except per share amounts) |
| Low |
| High |
GAAP net income per diluted share |
| $4.33 |
| $5.53 |
Acquisition-related charges | a | 0.42 |
| 0.42 |
Restructuring, severance and other charges | b | 0.06 |
| 0.06 |
| Income tax effect of non-GAAP adjustments | e | (0.15) |
| (0.15) |
| Non-GAAP net income per diluted share |
| $4.66 |
| $5.86 |
| Shares used in net income per diluted share calculation |
| 135.6 |
| 135.6 |
