While overall revenue declined, the Consumer segment increased 19% year-over-year. This growth was attributed to greater share gains within the consumer market.

The communications end market declined, but was partially offset by growth in the wireline sub-market driven by data center infrastructure build outs primarily to support growth in artificial intelligence applications.

Special charges, net increased to $63.9 million, primarily due to increased charges related to the company's Global Repositioning Actions. These actions are part of a transformation initiative aimed at aligning the company's enterprise strategy and streamlining operations.

The 10-Q references Part I, Item 1A, “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended November 2, 2024, which was filed with the Securities and Exchange Commission on November 26, 2024.

On February 18, 2025, the Board of Directors authorized the Company to repurchase an additional $10.0 billion of its common stock, bringing the total remaining share repurchase authorization to approximately $11.5 billion.

On February 18, 2025, the Board of Directors declared a cash dividend of $0.99 per outstanding share of common stock, expected to total approximately $491.0 million.

SMG&A expenses decreased in the three-month period ended February 1, 2025, as compared to the same period of the prior fiscal year, primarily as a result of the impact of an additional week of operations in the first quarter of fiscal 2024 as compared to the first quarter of fiscal 2025 and lower SMG&A employee-related variable compensation expenses, partially offset by higher benefit payments.