SHAREHOLDERS' EQUITY

9 Months Ended

Jan. 29, 2012

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY 

Share Repurchase Program

In June 2011 (fiscal 2012), we announced that our board of directors had approved a share repurchase program authorizing us to buy up to $150.0 million of our common stock over the subsequent 24 month period (the Share Repurchase Program). This authorization replaced our previous share repurchase program.

In September 2011 (fiscal 2012), our board of directors approved an increase of $100.0 million to the authorized amount under the Share Repurchase Program. Share repurchases may be made on the open market or in privately negotiated transactions. The number of shares repurchased, and the timing of any buybacks, depend on corporate cash balances, business and economic conditions and other factors, including investment opportunities. The Share Repurchase Program may be discontinued at any time.

During the nine months ended January 29, 2012, we repurchased 5,515,377 shares of our common stock for $110.6 million. The price of the repurchased shares has been allocated between common stock, additional paid-in capital and retained earnings in our consolidated condensed balance sheet in accordance with applicable accounting guidance. All share repurchases were funded from cash on hand.

Stock Options and Performance Share Units

During the nine months ended January 29, 2012, we issued 82,753 shares of common stock upon the exercise of stock options and 417,288 shares of common stock for vested performance share units. We issued 84,499 shares of common stock upon exercise of stock options in fiscal 2011. In fiscal 2011, no performance share units vested; therefore, no shares were issued.

Comprehensive Income

The components of comprehensive income, net of tax, consist of:

	Three Months Ended						Nine Months Ended
	January 29, 2012			January 30, 2011			January 29, 2012			January 30, 2011
	(in millions)						(in millions)
Net income	$	79.0		$	202.6		$	281.8		$	422.6
Hedge accounting	5.1			(47.9		)	(33.5		)	41.8
Foreign currency translation	(55.9		)	(21.6		)	(189.1		)	1.9
Pension accounting	3.5			9.1			10.6			19.6
Total comprehensive income	$	31.7		$	142.2		$	69.8		$	485.9