Share Repurchases And Share Retirements	12 Months Ended
Jan. 29, 2022
Share Repurchases And Share Retirements
Share Repurchases And Share Retirements	NOTE 17—SHARE REPURCHASES AND SHARE RETIREMENTS Share Repurchase Program In 2018, our Board of Directors authorized a share repurchase program. In fiscal 2018, we repurchased approximately 2.0 million shares of our common stock under this share repurchase program at an average price of $122.10 per share, for an aggregate repurchase amount of approximately $250 million. In fiscal 2019, we repurchased approximately 2.2 million shares of our common stock under this program at an average price of $115.36 per share, for an aggregate repurchase amount of approximately $250 million. We did not make any repurchases under this program during either fiscal 2021 or fiscal 2020. The total current authorized size of the share repurchase program is up to $950 million (the “950 Million Repurchase Program”), of which $450 million remained available as of January 29, 2022 for future share investments. Share Repurchases under Equity Plans As of both January 29, 2022 and January 30, 2021, the aggregate unpaid principal amount of notes payable for share repurchases was $0.6 million, of which $0.3 million was recorded in other current liabilities on the consolidated balance sheets and $0.3 million was recorded in other non-current obligations on the consolidated balance sheets as of January 29, 2022, and $0.6 million was recorded in other non-current obligations on the consolidated balance sheets as of January 30, 2021. During fiscal 2020, we elected to repay $18 million of aggregate principal amount of the notes payable for share repurchases, of which, $16 million was paid to a current board member of the Company. We recorded interest expense on the notes of $0.1 million, $0.8 million and $0.9 million in fiscal 2021, fiscal 2020 and fiscal 2019, respectively. Share Retirements In fiscal 2020, we retired 600 shares of our common stock related to shares we had repurchased under equity plans and we retired 17 shares of our common stock related to shares we received upon the maturity of the 2020 Notes (refer to Note 12—Convertible Senior Notes). As a result of the retirements, we reclassified a total of $0.1 million from treasury stock to additional paid-in capital on the consolidated balance sheets and consolidated statements of shareholders’ equity (deficit) as of January 30, 2021. In 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 million from treasury stock, of which $13 million was allocated to additional paid-in capital and $237 million was allocated to retained earnings (accumulated deficit) on the consolidated balance sheets and consolidated statements of shareholders’ equity (deficit) as of February 1, 2020. There was no impact on the consolidated statements of income or cash flows related to these share retirement activities.

Share Repurchases And Share Retirements

12 Months Ended

Jan. 29, 2022

Share Repurchases And Share Retirements

NOTE 17—SHARE REPURCHASES AND SHARE RETIREMENTS

Share Repurchase Program

In 2018, our Board of Directors authorized a share repurchase program. In fiscal 2018, we repurchased approximately 2.0 million shares of our common stock under this share repurchase program at an average price of $122.10 per share, for an aggregate repurchase amount of approximately $250 million. In fiscal 2019, we repurchased approximately 2.2 million shares of our common stock under this program at an average price of $115.36 per share, for an aggregate repurchase amount of approximately $250 million. We did not make any repurchases under this program during either fiscal 2021 or fiscal 2020. The total current authorized size of the share repurchase program is up to $950 million (the “950 Million Repurchase Program”), of which $450 million remained available as of January 29, 2022 for future share investments.

Share Repurchases under Equity Plans

As of both January 29, 2022 and January 30, 2021, the aggregate unpaid principal amount of notes payable for share repurchases was $0.6 million, of which $0.3 million was recorded in other current liabilities on the consolidated balance sheets and $0.3 million was recorded in other non-current obligations on the consolidated balance sheets as of January 29, 2022, and $0.6 million was recorded in other non-current obligations on the consolidated balance sheets as of January 30, 2021. During fiscal 2020, we elected to repay $18 million of aggregate principal amount of the notes payable for share repurchases, of which, $16 million was paid to a current board member of the Company. We recorded interest expense on the notes of $0.1 million, $0.8 million and $0.9 million in fiscal 2021, fiscal 2020 and fiscal 2019, respectively.

Share Retirements

In fiscal 2020, we retired 600 shares of our common stock related to shares we had repurchased under equity plans and we retired 17 shares of our common stock related to shares we received upon the maturity of the 2020 Notes (refer to Note 12—Convertible Senior Notes). As a result of the retirements, we reclassified a total of $0.1 million from treasury stock to additional paid-in capital on the consolidated balance sheets and consolidated statements of shareholders’ equity (deficit) as of January 30, 2021.

In 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 million from treasury stock, of which $13 million was allocated to additional paid-in capital and $237 million was allocated to retained earnings (accumulated deficit) on the consolidated balance sheets and consolidated statements of shareholders’ equity (deficit) as of February 1, 2020.

There was no impact on the consolidated statements of income or cash flows related to these share retirement activities.