Microsoft 2011 Annual Report Download - page 33

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33
new share repurchase program authorizing up to $40.0 billion in share repurchases with an expiration date of
September 30, 2013 (the “2008 Program”). As of June 30, 2011, approximately $12.2 billion remained of the
$40.0 billion approved repurchase amount. The repurchase program may be suspended or discontinued at any
time without notice.
During the periods reported, we repurchased with cash resources: 447 million shares for $11.5 billion during fiscal
year 2011; 380 million shares for $10.8 billion during fiscal year 2010; and 318 million shares for $8.2 billion
during fiscal year 2009. All shares repurchased in fiscal years 2011 and 2010 were repurchased under the 2008
Program. Of the shares repurchased in fiscal year 2009, 101 million shares were repurchased for $2.7 billion
under the 2007 Programs, while the remainder was repurchased under the 2008 Program.
Dividends
During fiscal years 2011 and 2010, our Board of Directors declared the following dividends:
Declaration Date Dividend
Per Share Record Date Total Amount Payment Date
(In millions)
Fiscal Year 2011
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 $ 1,340 September 8, 2011
Fiscal Year 2010
September 18, 2009 $ 0.13 November 19, 2009 $ 1,152 December 10, 2009
December 9, 2009 $ 0.13 February 18, 2010 $ 1,139 March 11, 2010
March 8, 2010 $ 0.13 May 20, 2010 $ 1,130 June 10, 2010
June 16, 2010 $ 0.13 August 19, 2010 $ 1,118 September 9, 2010
Off-Balance Sheet Arrangements
We provide indemnifications of varying scope and size to certain customers against claims of intellectual property
infringement made by third parties arising from the use of our products and certain other matters. In evaluating
estimated losses on these indemnifications, we consider factors such as the degree of probability of an
unfavorable outcome and our ability to make a reasonable estimate of the amount of loss. To date, we have not
encountered significant costs as a result of these obligations and have not accrued in our financial statements any
liabilities related to these indemnifications.
Contractual Obligations
The following table summarizes the payments due by fiscal year for our outstanding contractual obligations as of
June 30, 2011.
(In millions) 2012 2013-2015 2016-2018 2019 and
Thereafter Total
Long-term debt: (a)
Principal payments $ 0 $ 4,250 $ 2,500 $ 5,250 $ 12,000
Interest payments 344 959 720 3,228 5,251
Construction commitments (b) 263 0 0 0 263
Operating leases (c) 481 964 380 127 1,952
Purchase commitments (d) 5,580 355 0 0 5,935
Other long-term liabilities (e) 0 92 22 22 136
Total contractual obligations $ 6,668 $ 6,620 $ 3,622 $ 8,627 $ 25,537
(a) See Note 12 – Debt of the Notes to Financial Statements
(b) These amounts represent commitments for the construction of buildings, building improvements and
leasehold improvements.