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 nine months ended October 28, 2017, and October 29, 2016 ($ and shares in millions, except per share amounts):



	Three Months Ended				Nine Months Ended
	October 28, 2017		October 29, 2016		October 28, 2017		October 29, 2016
Total cost of shares repurchased
Open market⁽¹⁾	$	366	$	206	$	1,147	$	483
Settlement of January 2016 ASR⁽²⁾	—		—		—		45
Total	$	366	$	206	$	1,147	$	528

Average price per share
Open market	$	57.14	$	37.67	$	52.35	$	33.52
Settlement of January 2016 ASR⁽²⁾	$	—	$	—	$	—	$	28.55
Average	$	57.14	$	37.67	$	52.35	$	33.03

Number of shares repurchased and retired
Open market⁽¹⁾	6.4		5.5		21.9		14.4
Settlement of January 2016 ASR⁽²⁾	—		—		—		1.6
Total	6.4		5.5		21.9		16.0


(1)	As of October 28, 2017, $17 million, or 0.3 million shares, in trades remained unsettled. As of October 29, 2016, $11 million, or 0.3 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 3.9 billion shares remained available for additional purchases under the February 2017 share repurchase program as of October 28, 2017. Between the end of the third quarter of fiscal 2018 and November 30, 2017, we repurchased an incremental 4.5 million shares of our common stock at a cost of $256 million. Repurchased shares are retired and constitute authorized but unissued shares.