Repurchase of Common Stock

9 Months Ended

Oct. 28, 2023

Repurchase of Common Stock [Abstract]

Repurchase of Common Stock

9. Repurchase of Common Stock

On February 28, 2022, our Board of Directors approved a $5.0 billion share repurchase program, which replaced the $5.0 billion share repurchase program authorized on February 16, 2021. There is no expiration date governing the period over which we can repurchase shares under this authorization.

Information regarding share repurchases was as follows ($ and shares in millions, except per share amounts):

	Three Months Ended				Nine Months Ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Total cost of shares repurchased	$	128	$	-	$	278	$	452
Average price per share	$	71.61	$	-	$	74.16	$	96.83
Total number of shares repurchased		1.8		-		3.7		4.6

As of October 28, 2023, $3.8 billion of the $5.0 billion share repurchase authorization was available. Between the end of the third quarter of fiscal 2024 on October 28, 2023, and November 29, 2023, we repurchased an incremental 1.0 million shares of our common stock at a cost of $63 million. We currently expect total share repurchases of approximately $350 million in fiscal 2024.