Share Repurchases	6 Months Ended
Aug. 01, 2020
Share Repurchases
Share Repurchases	NOTE 14—SHARE REPURCHASES AND SHARE RETIREMENTS Share Repurchase Program On October 10, 2018, our 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 (as replenished, the “$950 Million Repurchase Program”). We did not make any repurchases under this program during the six months ended August 1, 2020. During the first half of fiscal 2019, we repurchased approximately 2.2 million shares of our common stock at an average price of $115.36 per share, for an aggregate repurchase amount of approximately $250.0 million under this share repurchase program. As of August 1, 2020, there was $450.0 million remaining for future share repurchases under this program. Share Repurchases Under Equity Plans As of August 1, 2020 and February 1, 2020, the aggregate unpaid principal amount of the notes payable for share repurchases was $18.8 million and $18.7 million, respectively, which were included in other non-current obligations on the condensed consolidated balance sheets. During both the three months ended August 1, 2020 and August 3, 2019, we recorded interest expense on the outstanding notes of $0.3 million. During both the six months ended August 1, 2020 and August 3, 2019, we recorded interest expense on the outstanding notes of $0.5 million. Of the $18.8 million and $18.7 million notes payable for share repurchases outstanding as of August 1, 2020 and February 1, 2020, $15.5 million is related to a promissory note due to a current board member. Share Retirements In the first half of fiscal 2020, we retired 600 shares of our common stock related to shares we had repurchased under equity plans. As a result of this retirement, we reclassified a total of $0.1 million from treasury stock to additional paid-in capital on the condensed consolidated balance sheets and on the condensed consolidated statements of stockholders’ equity (deficit) as of August 1, 2020. In the first half of fiscal 2019, we retired 2,170,154 shares of our common stock related to shares we had repurchased under the $950 Million Repurchase Program. As a result of this retirement, we reclassified a total of $250.3 million from treasury stock, of which $13.2 million was allocated to additional paid-in capital and $237.1 million was allocated to retained earnings (accumulated deficit) on the condensed consolidated balance sheets as of February 1, 2020 and on the condensed consolidated statements of stockholders’ equity (deficit) as of August 3, 2019.

Share Repurchases

6 Months Ended

Aug. 01, 2020

NOTE 14—SHARE REPURCHASES AND SHARE RETIREMENTS

Share Repurchase Program

On October 10, 2018, our 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 (as replenished, the “$950 Million Repurchase Program”). We did not make any repurchases under this program during the six months ended August 1, 2020. During the first half of fiscal 2019, we repurchased approximately 2.2 million shares of our common stock at an average price of $115.36 per share, for an aggregate repurchase amount of approximately $250.0 million under this share repurchase program. As of August 1, 2020, there was $450.0 million remaining for future share repurchases under this program.

Share Repurchases Under Equity Plans

As of August 1, 2020 and February 1, 2020, the aggregate unpaid principal amount of the notes payable for share repurchases was $18.8 million and $18.7 million, respectively, which were included in other non-current obligations on the condensed consolidated balance sheets. During both the three months ended August 1, 2020 and August 3, 2019, we recorded interest expense on the outstanding notes of $0.3 million. During both the six months ended August 1, 2020 and August 3, 2019, we recorded interest expense on the outstanding notes of $0.5 million.

Of the $18.8 million and $18.7 million notes payable for share repurchases outstanding as of August 1, 2020 and February 1, 2020, $15.5 million is related to a promissory note due to a current board member.

Share Retirements

In the first half of fiscal 2020, we retired 600 shares of our common stock related to shares we had repurchased under equity plans. As a result of this retirement, we reclassified a total of $0.1 million from treasury stock to additional paid-in capital on the condensed consolidated balance sheets and on the condensed consolidated statements of stockholders’ equity (deficit) as of August 1, 2020.

In the first half of fiscal 2019, we retired 2,170,154 shares of our common stock related to shares we had repurchased under the $950 Million Repurchase Program. As a result of this retirement, we reclassified a total of $250.3 million from treasury stock, of which $13.2 million was allocated to additional paid-in capital and $237.1 million was allocated to retained earnings (accumulated deficit) on the condensed consolidated balance sheets as of February 1, 2020 and on the condensed consolidated statements of stockholders’ equity (deficit) as of August 3, 2019.