Capital Stock

12 Months Ended

Jan. 28, 2023

Stockholders' Equity Note [Abstract]

Capital Stock

Capital Stock

Repurchases of Common Stock. The company made the following repurchases during fiscal 2023, fiscal 2022, and fiscal 2021 (all shares repurchased have been canceled).

Period	Number of Shares Repurchased	Total Consideration (In thousands)		Average Price Per Share
Fiscal 2023	514,030	$	48,732	$	94.80
Fiscal 2022	1,231,638	$	106,133	$	86.17
Fiscal 2021	1,324,381	$	100,000	$	75.51

On March 2, 2022 the Company announced that its Board of Directors authorized a new $150.0 million program to repurchase shares of the Company’s outstanding common stock through August 2023 in open market or private transactions. During fiscal 2023 we repurchased 514,030 shares of common stock, at an average price of $94.80, for $48.7 million. As of January 28, 2023, $101.3 million remained available for repurchases.

On March 3, 2021 the Company announced that its Board of Directors had authorized a $150.0 million program to repurchase shares of the Company’s outstanding common stock through August 2022 in open market or private transactions. During fiscal 2022, we repurchased 1,231,638 shares of our common stock, at an average price of $86.17, for $106.1 million.

On August 24, 2020 the Company announced that its Board of Directors had authorized a $100.0 million program to repurchase shares of the Company’s outstanding common stock through February 2022 in open market or private transactions. During the fourth quarter of fiscal 2021, we repurchased 1,324,381 shares of our common stock, at an average price of $75.51, for $100.0 million.

Restricted Stock Tax Withholdings. During fiscal 2023, fiscal 2022, and fiscal 2021, we withheld 59,018 shares, 78,264 shares, and 19,081 shares, respectively, totaling $5.8 million, $6.6 million, and $0.7 million, respectively, to meet payroll tax withholding obligations arising from the vesting of restricted share units. All shares withheld have been canceled. Shares of common stock withheld for tax withholdings do not reduce our total share repurchase authority.

Upon cancellation of shares repurchased or withheld for tax withholdings, 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 fiscal 2023, $33.2 million was charged to retained earnings related to shares canceled during the fiscal year.