Stock Repurchase Program

3 Months Ended

Nov. 23, 2019

Equity [Abstract]

Stock Repurchase Program

Note H – Stock Repurchase Program

From January 1, 1998 to November 23, 2019, the Company has repurchased a total of 147.3 million shares of its common stock at an aggregate cost of $21.873 billion, including 403,107 shares of its common stock at an aggregate cost of $450.0 million during the twelve week period ended November 23, 2019. On October 7, 2019, the Board voted to increase the repurchase authorization by $1.25 billion. This raised the total value of shares authorized to be repurchased to $23.15 billion. Considering the cumulative repurchases as of November 23, 2019, the Company had $1.277 billion remaining under the Board’s authorization to repurchase its common stock.

Subsequent to November 23, 2019, the Company has repurchased 101,815​​​​​​​ shares of its common stock at an aggregate cost of $120.0​​​​​​​ million.