Stock Repurchase Program

9 Months Ended

May 04, 2013

Equity [Abstract]

Stock Repurchase Program

Note I – Stock Repurchase Program

From January 1, 1998 to May 4, 2013, the Company has repurchased a total of 133.3 million shares at an aggregate cost of $12.4 billion, including 2,201,180 shares of its common stock at an aggregate cost of $827.3 million during the thirty-six week period ended May 4, 2013. On September 28, 2012, the Board voted to increase the authorization by $750 million to raise the cumulative share repurchase authorization from $11.90 billion to $12.65 billion. Considering the cumulative repurchases as of May 4, 2013, the Company had $278.4 million remaining under the Board’s authorization to repurchase its common stock.

On June 11, 2013, the Board voted to increase the authorization by $750 million to raise the cumulative share repurchase authorization from $12.65 billion to $13.40 billion. Subsequent to May 4, 2013, the Company has repurchased 216,930 shares of its common stock at an aggregate cost of $89.6 million.

During the thirty-six week period ended May 4, 2013, the Company retired 3.9 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1,362.2 million and decreased Additional paid-in capital by $75.7 million. During the comparable prior year period, the Company retired 4.9 million shares of treasury stock, which increased Retained deficit by $1,319.6 million and decreased Additional paid-in capital by $72.5 million.