Repurchase of Common Stock

Our Board of Directors authorized a $5.0 billion share repurchase program in February 2017. The program, which became effective on February 27, 2017, terminated and replaced a $5.0 billion share repurchase program authorized by our Board of Directors in June 2011. There is no expiration governing the period over which we can make our share repurchases under the February 2017 $5.0 billion share repurchase program.

The following table presents information regarding the shares we repurchased during the three and six months ended July 29, 2017, and July 30, 2016 ($ and shares in millions, except per share amounts):



	Three Months Ended				Six Months Ended
	July 29, 2017		July 30, 2016		July 29, 2017		July 30, 2016
Total cost of shares repurchased
Open market⁽¹⁾	$	397	$	221	$	781	$	277
Settlement of January 2016 ASR⁽²⁾	—		—		—		45
Total	$	397	$	221	$	781	$	322

Average price per share
Open market	$	55.07	$	30.65	$	50.38	$	30.98
Settlement of January 2016 ASR⁽²⁾	$	—	$	—	$	—	$	28.55
Average	$	55.07	$	30.65	$	50.38	$	30.62

Number of shares repurchased and retired
Open market⁽¹⁾	7.2		7.2		15.5		8.9
Settlement of January 2016 ASR⁽²⁾	—		—		—		1.6
Total	7.2		7.2		15.5		10.5


(1)	As of July 29, 2017, $18 million, or 0.3 million shares, in trades remained unsettled. As of July 30, 2016, $6 million, or 0.2 million shares, in trades remained unsettled. The liability for unsettled trades is included in Accrued liabilities in the Condensed Consolidated Balance Sheets.


(2)	See Note 7, Shareholders' Equity, in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2017, for additional information regarding the January 2016 ASR.

Approximately 4.3 billion shares remained available for additional purchases under the February 2017 share repurchase program as of July 29, 2017. Repurchased shares are retired and constitute authorized but unissued shares.