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Share Repurchases
6 Months Ended
Aug. 03, 2019
Equity [Abstract]  
Share Repurchases

NOTE 13—SHARE REPURCHASES

Share Repurchase Program

On October 10, 2018, the Company’s Board of Directors authorized a share repurchase program of up to $700.0 million, of which $250.0 million in share repurchases were completed in fiscal 2018. The $700.0 million authorization amount was replenished by the Board of Directors on March 25, 2019. The Company repurchased approximately 2.2 million shares of its common stock at an average price of $115.36 per share, for an aggregate repurchase amount of approximately $250.0 million, during the first quarter of fiscal 2019 under this share repurchase program. The Company did not make any repurchases under this program during the three months ended August 3, 2019. As of August 3, 2019, there was $450.0 million remaining for future share repurchases under this program.

Share Repurchases Under Equity Plans

As of August 3, 2019 and February 2, 2019, the aggregate unpaid principal amount of the notes payable for share repurchases was $18.7 million and $19.6 million, respectively, of which, as of August 3, 2019, $18.7 million were included in other non-current obligations on the condensed consolidated balance sheets and, as of February 2, 2019, $0.9 million were included in other current liabilities and $18.7 million were included in other non-current obligations on the condensed consolidated balance sheets. During both the three months ended August 3, 2019 and August 4, 2018, the Company recorded interest expense on the outstanding notes of $0.3 million. During both the six months ended August 3, 2019 and August 4, 2018, the Company recorded interest expense on the outstanding notes of $0.5 million.

Of the $18.7 million and $19.6 million notes payable for share repurchases outstanding as of August 3, 2019 and February 2, 2019, respectively, $15.5 million was due to a current board member of the Company.