Shareholders' Equity

12 Months Ended

Jan. 30, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

The authorized shares of the Company consist of 125 million shares of preferred stock (“Preferred Stock”), par value of $.01 per share, with no shares issued, and 1,000 million shares of Common Stock, par value of $.01 per share, with 341.6 million shares of Common Stock issued and 310.3 million shares of Common Stock outstanding at January 30, 2016, and with 379.6 million shares of Common Stock issued and 340.6 million shares of Common Stock outstanding at January 31, 2015 (with shares held in the Company’s treasury being treated as issued, but not outstanding).

The Company retired 38.0 million, 31.0 million and 34.0 million shares of Common Stock during 2015, 2014 and 2013, respectively.

The Company's board of directors approved an additional authorization to purchase Common Stock of $1,500 million on May 13, 2015. Combined with previous authorizations commencing in January 2000, the Company’s board of directors has from time to time approved authorizations to purchase, in the aggregate, up to $16,500 million of Common Stock. All authorizations are cumulative and do not have an expiration date. During 2015, the Company purchased approximately 34.8 million shares of Common Stock under its share repurchase program for a total of $2,000 million. During 2014, the Company purchased approximately 31.9 million shares of Common Stock under its share repurchase program for a total of $1,900 million. During 2013, the Company purchased approximately 33.6 million shares of Common Stock under its share repurchase program for a total of $1,570 million. As of January 30, 2016, $532 million of authorization remained unused. The Company may continue or, from time to time, suspend repurchases of its shares under its share repurchase program, depending on prevailing market conditions, alternative uses of capital and other factors.

Common Stock

The holders of the Common Stock are entitled to one vote for each share held of record on all matters submitted to a vote of shareholders. Subject to preferential rights that may be applicable to any Preferred Stock, holders of Common Stock are entitled to receive ratably such dividends as may be declared by the Board of Directors in its discretion, out of funds legally available therefor.

Treasury Stock

Treasury stock contains shares repurchased under the share repurchase program, shares repurchased to cover employee tax liabilities related to stock plan activity and shares maintained in a trust related to deferred compensation plans. Under the deferred compensation plans, shares are maintained in a trust to cover the number estimated to be needed for distribution on account of stock credits currently outstanding.

Changes in the Company’s Common Stock issued and outstanding, including shares held by the Company’s treasury, are as follows:

			Treasury Stock
	Common Stock Issued		Deferred Compensation Plans		Other		Total		Common Stock Outstanding
					(thousands)
Balance at February 2, 2013	444,605.8		(1,209.5	)	(55,695.2	)	(56,904.7	)	387,701.1
Stock issued under stock plans			(85.2	)	10,891.1		10,805.9		10,805.9
Stock repurchases
Repurchase program					(33,625.3	)	(33,625.3	)	(33,625.3	)
Other					(12.2	)	(12.2	)	(12.2	)
Deferred compensation plan distributions			65.5				65.5		65.5
Retirement of common stock	(34,000.0	)			34,000.0		34,000.0		—
Balance at February 1, 2014	410,605.8		(1,229.2	)	(44,441.6	)	(45,670.8	)	364,935.0
Stock issued under stock plans			(54.8	)	7,490.6		7,435.8		7,435.8
Stock repurchases
Repurchase program					(31,874.9	)	(31,874.9	)	(31,874.9	)
Other					(27.0	)	(27.0	)	(27.0	)
Deferred compensation plan distributions			104.8				104.8		104.8
Retirement of common stock	(31,000.0	)			31,000.0		31,000.0		—
Balance at January 31, 2015	379,605.8		(1,179.2	)	(37,852.9	)	(39,032.1	)	340,573.7
Stock issued under stock plans			(60.4	)	4,493.5		4,433.1		4,433.1
Stock repurchases
Repurchase program					(34,806.8	)	(34,806.8	)	(34,806.8	)
Other					(12.7	)	(12.7	)	(12.7	)
Deferred compensation plan distributions			68.8				68.8		68.8
Retirement of common stock	(38,000.0	)			38,000.0		38,000.0		—
Balance at January 30, 2016	341,605.8		(1,170.8	)	(30,178.9	)	(31,349.7	)	310,256.1

Accumulated Other Comprehensive Loss

For the Company, the only component of accumulated other comprehensive loss for 2015, 2014 and 2013 relates to post employment and postretirement plan items. The net actuarial gains and losses and prior service costs and credits related to post employment and postretirement benefit plans are reclassified out of accumulated other comprehensive loss and included in the computation of net periodic benefit cost (income) and are included in SG&A expenses in the Consolidated Statements of Income. See Note 9, "Retirement Plans," and Note 10, "Postretirement Health Care and Life Insurance Benefits," for further information.