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PAGE 69
NOTE 18 STOCKHOLDERS’ EQUITY
SHARES OUTSTANDING
Shares of common stock outstanding were as follows:
(In millions)
Y
ear Ended June 30, 2009
2008 2007
Balance, beginning of year 9,151
9,380 10,062
Issued 75
173 289
Repurchased (318 )
(402) (971)
Balance, end of year 8,908
9,151 9,380
SHARE REPURCHASES
On September 22, 2008, we announced the completion of the two repurchase programs approved by our Board of
Directors during the first quarter of fiscal year 2007 to buy back up to $40.0 billion of Microsoft common stock. On
September 22, 2008, we also announced that our Board of Directors approved a new share repurchase program
authorizing up to $40.0 billion in share repurchases with an expiration date of September 30, 2013. As of June 30,
2009, approximately $34.5 billion remained of the $40.0 billion approved repurchase amount. All repurchases were
made using cash resources. 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 plans:
(In millions)
Year Ended June 30,
2009
(
a
)
2008
(b)
2007
(
c
)
Shares
A
mount Shares
A
mount
Shares
A
mount
First quarter 223 $5,966 81 $ 2,348
285 $ 6,965
Second quarter 95 2,234 120 4,081
205 6,037
Third quarter – – 30 1,020
238 6,744
Fourth quarter – – 171 4,975
243 7,367
Total 318 $8,200 402 $12,424
971 $27,113
(a) Of the 318 million shares of common stock repurchased in fiscal year 2009, 101 million shares were
repurchased for $2.7 billion under the repurchase plan approved by our Board of Directors during the first
quarter of fiscal year 2007. The remaining shares were repurchased under the repurchase plan approved by
our Board of Directors on September 22, 2008.
(b) All shares repurchased in fiscal year 2008 were repurchased under the repurchase plan approved by our
Board of Directors on July 20, 2006.
(c) Of the 971 million shares of common stock repurchased in fiscal year 2007, 155 million shares were
repurchased for $3.8 billion under our tender offer in the first quarter of fiscal year 2007. The remaining shares
were repurchased under the repurchase plan approved by our Board of Directors on July 20, 2006.