Note K – Stock Repurchase Program

During 1998, the Company announced a program permitting the Company to repurchase a portion of its outstanding shares not to exceed a dollar maximum established by the Board. The program was last amended on March 24, 2015 to increase the repurchase authorization to $15.65 billion from $14.9 billion. From January 1998 to August 29, 2015, the Company has repurchased a total of 138.9 million shares at an aggregate cost of $15.302 billion.

The Company’s share repurchase activity consisted of the following:


	Year Ended
(in thousands)	August 29, 2015		August 30, 2014		August 31, 2013
Amount	$	1,271,416	$	1,099,212	$	1,387,315
Shares		2,010		2,232		3,511

During fiscal year 2015, the Company retired 2.1 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.050 billion and decreased Additional paid-in capital by $57.4 million. During the comparable prior year period, the Company retired 3.2 million shares of treasury stock, which increased Retained deficit by $1.220 billion and decreased Additional paid-in capital by $74.0 million.

On October 7, 2015, the Board voted to increase the authorization by $750 million to raise the cumulative share repurchase authorization from $15.65 billion to $16.4 billion. Subsequent to August 29, 2015, the Company has repurchased 356,993 shares of common stock at an aggregate cost of $259.9 million. Considering the cumulative repurchases and the increase in authorization subsequent to August 29, 2015, the Company has $837.9 million remaining under the Board’s authorization to repurchase its common stock.