Stock Repurchase Program

5 Months Ended

Feb. 09, 2019

Note H – Stock Repurchase Program

From January 1, 1998 to February 9, 2019, the Company has repurchased a total of 145.8 million shares of its common stock at an aggregate cost of $20.265 billion, including 1.1 million shares of its common stock at an aggregate cost of $847.1 million during the twenty-four week period ended February 9, 2019. On September 26, 2018, the Board voted to increase the authorization by $1.25 billion. This raised the total value of shares authorized to be repurchased to $20.9 billion. Considering the cumulative repurchases as of February 9, 2019, the Company had $634.6 million remaining under the Board’s authorization to repurchase its common stock.

During the twenty-four week period ended February 9, 2019, the Company retired 2.6 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.707 billion and decreased Additional paid-in capital by $125.4 million. During the comparable prior year period, the Company retired 1.5 million shares of treasury stock, which increased Retained deficit by $918.5 million and decreased Additional paid-in capital by $60.5 million.

Subsequent to February 9, 2019, the Company has repurchased 154,261 shares of its common stock at an aggregate cost of $140.0 million.