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Stock Repurchase Program
6 Months Ended
Feb. 13, 2016
Equity [Abstract]  
Stock Repurchase Program

Note I – Stock Repurchase Program

From January 1, 1998 to February 13, 2016 the Company has repurchased a total of 139.6 million shares at an aggregate cost of $15.852 billion, including 733,721 shares of its common stock at an aggregate cost of $550.1 million during the twenty-four week period ended February 13, 2016. 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. Considering the cumulative repurchases as of February 13, 2016, the Company had $547.8 million remaining under the Board’s authorization to repurchase its common stock.

On March 22, 2016, the Board voted to increase the authorization by $750 million to raise the cumulative share repurchase authorization from $16.4 billion to $17.15 billion. Subsequent to February 13, 2016, the Company has repurchased 334,019 shares of its common stock at an aggregate cost of $254.3 million. Considering the cumulative repurchases and the increase in authorization subsequent to February 13, 2016, the Company has $1.043 billion remaining under the Board’s authorization to repurchase its common stock.

During the twenty-four week period ended February 13, 2016, 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 $1.424 billion and decreased Additional paid-in capital by $67.0 million. During the comparable prior year period, the Company retired 2.1 million shares of treasury stock, which increased Retained deficit by $1.050 billion and decreased Additional paid-in capital by $57.4 million.