Repurchase of Common Stock

3 Months Ended

May 04, 2024

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. 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
	May 4, 2024		April 29, 2023
Total cost of shares repurchased	$	52	$	81
Average price per share	$	77.81	$	76.15
Total number of shares repurchased		0.7		1.1

As of May 4, 2024, $3.7 billion of the $5.0 billion share repurchase authorization was available. Between the end of the first quarter of fiscal 2025 on May 4, 2024 and June 5, 2024, we repurchased an incremental 0.4 million shares of our common stock at a cost of $34 million. We currently expect total share repurchases of approximately $350 million in fiscal 2025.