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Stock Repurchase Program
5 Months Ended
Feb. 11, 2017
Equity [Abstract]  
Stock Repurchase Program

Note I – Stock Repurchase Program

From January 1, 1998 to February 11, 2017, the Company has repurchased a total of 141.5 million shares of its common stock at an aggregate cost of $17.315 billion, including 734,013 shares of its common stock at an aggregate cost of $560.6 million during the twenty-four week period ended February 11, 2017. On September 22, 2016 the Board voted to increase the authorization by $750 million. This raised the total value of shares authorized to be repurchased to $17.9 billion. Considering the cumulative repurchases as of February 11, 2017, the Company had $584.7 million remaining under the Board’s authorization to repurchase its common stock.

On March 21, 2017, the Board voted to increase the authorization by $750 million to raise the cumulative share repurchase authorization from $17.9 billion to $18.65 billion. Subsequent to February 11, 2017, the Company has repurchased 165,703 shares of its common stock at an aggregate cost of $119.6 million. Considering the cumulative repurchases and the increase in authorization subsequent to February 11, 2017, the Company has $1.215 billion remaining under the Board’s authorization to repurchase its common stock.

During the twenty-four week period ended February 11, 2017, the Company retired 1.8 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.321 billion and decreased Additional paid-in capital by $64.9 million. During the comparable prior year period, the Company retired 2.1 million shares of treasury stock, which increased Retained deficit by $1.424 billion and decreased Additional paid-in capital by $67.0 million.