Repurchase of Common Stock (Notes)

6 Months Ended

Aug. 04, 2018

In February 2017, our Board of Directors ("Board") authorized a $5.0 billion share repurchase program that superseded the previous $5.0 billion authorization from 2011. There is no expiration date governing the period over which we can repurchase shares under the February 2017 authorization. On March 1, 2018, we announced our intent to repurchase $1.5 billion of shares in fiscal 2019, which reflects an updated two-year plan of $3.5 billion compared to the original $3.0 billion two-year plan announced on March 1, 2017.

The following table presents information regarding the shares we repurchased during the three and six months ended August 4, 2018, and July 29, 2017 ($ and shares in millions, except per share amounts):



	Three Months Ended				Six Months Ended
	August 4, 2018		July 29, 2017		August 4, 2018		July 29, 2017
Total cost of shares repurchased⁽¹⁾	$	375	$	397	$	774	$	781
Average price per share	$	74.80	$	55.07	$	73.21	$	50.38
Number of shares repurchased⁽¹⁾	5.0		7.2		10.6		15.5


(1)	As of August 4, 2018, $13 million, or 0.2 million shares, in trades remained unsettled. As of July 29, 2017, $18 million, or 0.3 million shares, in trades remained unsettled. The liability for unsettled trades is included in Accrued liabilities on our Condensed Consolidated Balance Sheets.

At August 4, 2018, $2.3 billion of the $5.0 billion of share repurchases authorized by our Board in February 2017 was available for future share repurchases. Between the end of the second quarter of fiscal 2019 on August 4, 2018, and September 5, 2018, we repurchased an incremental 1.7 million shares of our common stock at a cost of $135 million.