STOCKHOLDERS' EQUITY

6 Months Ended

Apr. 30, 2013

Stockholders' Equity Note [Abstract]

STOCKHOLDERS EQUITY

16. STOCKHOLDERS' EQUITY

Stock Repurchase Program

On November 19, 2009 our board of directors approved a share-repurchase program to reduce or eliminate dilution of basic outstanding shares in connection with issuances of stock under the company's equity incentive plans (the "2009 repurchase program"). The 2009 repurchase program did not require the company to acquire a specific number of shares and could be suspended or discontinued at any time. There was no fixed termination date for the 2009 repurchase program.

On January 16, 2013, our board of directors terminated the 2009 repurchase program and approved a new share-repurchase program (the "2013 repurchase program"). The 2013 repurchase program authorizes the use of up to $500 million to repurchase shares of the company's common stock in open market transactions, inclusive of any amounts repurchased under the 2009 repurchase program since November 1, 2012. On May 14, 2013, we announced that our board of directors authorized an increase of $500 million to the 2013 repurchase program bringing the cumulative authorization to $1 billion. Unless terminated earlier by the board of directors, the 2013 repurchase program is designed to cover purchases until the end of the calendar year 2013 and any unused portion may be used in calendar year 2014. The 2013 repurchase program does not require the company to acquire a specific number of shares and may be suspended or discontinued at any time.

For the three months ended April 30, 2013, we repurchased 3 million shares for $140 million. For the six months ended April 30, 2013, we repurchased 5 million shares for $219 million. For the three months ended April 30, 2012, we repurchased 1 million shares for $44 million. For the six months ended April 30, 2012, we repurchased 2 million shares for $78 million. All such shares and related costs are held as treasury stock and accounted for using the cost method. As of May 14, 2013, $781 million remains to be used to repurchase shares under the 2013 repurchase program.

Cash Dividends on Shares of Common Stock

During the three and six months ended April 30, 2013, we paid cash dividends of $0.12 per common share or $41 million and $0.22 per common share or $76 million, respectively, on the company's common stock. During the three and six months ended April 30, 2012, we paid cash dividends of $0.10 per common share or $35 million, respectively, on the company's common stock.

On May 21, 2013, our Board of Directors declared a quarterly cash dividend of $0.12 per share of common stock, or approximately $41 million which will be paid on July 24, 2013 to all shareholders of record at close of business on July 2, 2013.

The timing and amounts of any future dividends are subject to determination and approval by our board of directors.