Common stock transactions

6 Months Ended

Aug. 03, 2012

Common stock transactions

Common stock transactions

2.Common stock transactions

On November 30, 2011, the Company’s Board of Directors authorized a $500 million common stock repurchase program, of which $15 million remained available for repurchase as of August 3, 2012. The repurchase authorization has no expiration date and allows repurchases from time to time in the open market or in privately negotiated transactions, which could include repurchases from Buck Holdings, L.P. (which is controlled by affiliates of Kohlberg Kravis Roberts & Co., L.P. (“KKR”) and Goldman Sachs & Co.) or other related parties if appropriate. The timing and number of shares purchased depends on a variety of factors, such as price, market conditions and other factors. Repurchases under the program may be funded from available cash or borrowings under the Company’s revolving credit facility. On April 2, 2012, the Company repurchased under this program 6,817,311 shares from Buck Holdings, L.P. for $300 million.