Share Repurchase

12 Months Ended

Jan. 28, 2012

Share Repurchase

Share Repurchase

24. Share Repurchase

        We repurchase shares primarily through open market transactions under a $10 billion share repurchase plan authorized by our Board of Directors in November 2007. As of January 28, 2012, we have $279 million remaining capacity on this authorization. In January 2012, our Board of Directors authorized a new $5 billion share repurchase plan. We expect to begin repurchasing shares under this new authorization upon completion of the current program.

Share Repurchases (millions, except per share data)	2011		2010		2009
Total number of shares purchased		37.2		47.8		9.9
Average price paid per share	$	50.89	$	52.44	$	48.54
Total investment	$	1,894	$	2,508	$	479

        Of the shares reacquired, a portion was delivered upon settlement of prepaid forward contracts as follows:

Settlement of Prepaid Forward Contracts (a) (millions)	2011		2010		2009
Total number of shares purchased		1.0		1.1		1.5
Total cash investment	$	52	$	56	$	56
Aggregate market value (b)	$	52	$	61	$	60

(a)

These contracts are among the investment vehicles used to reduce our economic exposure related to our nonqualified deferred compensation plans. The details of our positions in prepaid forward contracts have been provided in Note 26.

(b)

At their respective settlement dates.