Stock Repurchase Program

12 Months Ended

Aug. 26, 2017

Equity [Abstract]

Stock Repurchase Program

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 21, 2017 to increase the repurchase authorization to $18.65 billion from $17.9 billion. From January 1998 to August 26, 2017, the Company has repurchased a total of 142.3 million shares at an aggregate cost of $17.826 billion.

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

	Year Ended
(in thousands)	August 26, 2017		August 27, 2016		August 29, 2015
Amount	$	1,071,649	$	1,452,462	$	1,271,416
Shares		1,495		1,903		2,010

During fiscal year 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.