Capital Stock

9 Months Ended

Oct. 30, 2021

Stockholders' Equity Note [Abstract]

Capital Stock

Capital Stock

Repurchases of Common Stock. On March 3, 2021 the Company announced that its Board of Directors had authorized a new $150 million program to repurchase shares of the Company’s outstanding common stock through August 2022 in open market or private transactions. During the nine months ended October 30, 2021, we repurchased 631,638 shares of common stock, at an average price of $79.16, for $50.0 million. As of October 30, 2021, $100.0 million of the authorization was available for repurchases.

Upon cancellation of shares repurchased, the excess over par value is recorded as a reduction of additional paid-in capital until the balance is reduced to zero, with any additional excess recorded as a reduction of retained earnings. During the nine months ended October 30, 2021, $46.0 million was charged to retained earnings related to shares canceled during the period.