SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT	12 Months Ended
Feb. 01, 2025
SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT
SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT	NOTE 16—SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT Share Repurchase Program In 2018, our Board of Directors authorized a share repurchase program. On June 2, 2022, the Board of Directors authorized an additional $2,000 million for the purchase of shares of our outstanding common stock, increasing the total authorized size of the share repurchase program to $2,450 million (the “Share Repurchase Program”). We did not repurchase any shares of our common stock under the Share Repurchase Program during fiscal 2024. As of February 1, 2025, $201 million remains available for future share repurchases under this program. In fiscal 2022, we repurchased 3,719,550 shares of our common stock under the Share Repurchase Program at an average price of $268.83 per share, for an aggregate repurchase amount of approximately $1,004 million, inclusive of $3.7 million of excise taxes. In fiscal 2023, we repurchased 3,887,965 shares of our common stock under the Share Repurchase Program at an average price of $321.28 per share, for an aggregate repurchase amount of approximately $1,261 million, inclusive of $12 million of excise taxes. The excise tax liability of $12 million, which was included in accounts payable and accrued expenses on the consolidated balance sheets as of February 3, 2024, was paid in October 2024 and is no longer outstanding as of February 1, 2025. Share Retirements In fiscal 2022, we retired 3,719,550 shares of common stock related to shares we repurchased under the Share Repurchase Program. As a result of this retirement, we reclassified a total of $444 million and $560 million from treasury stock to additional paid-in capital and retained earnings (accumulated deficit), respectively, on the consolidated balance sheets and consolidated statements of stockholders’ equity (deficit). In fiscal 2023, we retired 3,887,965 shares of common stock related to shares we repurchased under the Share Repurchase Program. As a result of this retirement, we reclassified a total of $10 million and $1,251 million from treasury stock to additional paid-in capital and retained earnings (accumulated deficit), respectively, on the consolidated balance sheets and consolidated statements of stockholders’ equity (deficit).

SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

12 Months Ended

Feb. 01, 2025

SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

NOTE 16—SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

Share Repurchase Program

In 2018, our Board of Directors authorized a share repurchase program. On June 2, 2022, the Board of Directors authorized an additional $2,000 million for the purchase of shares of our outstanding common stock, increasing the total authorized size of the share repurchase program to $2,450 million (the “Share Repurchase Program”). We did not repurchase any shares of our common stock under the Share Repurchase Program during fiscal 2024. As of February 1, 2025, $201 million remains available for future share repurchases under this program.

In fiscal 2022, we repurchased 3,719,550 shares of our common stock under the Share Repurchase Program at an average price of $268.83 per share, for an aggregate repurchase amount of approximately $1,004 million, inclusive of $3.7 million of excise taxes.

In fiscal 2023, we repurchased 3,887,965 shares of our common stock under the Share Repurchase Program at an average price of $321.28 per share, for an aggregate repurchase amount of approximately $1,261 million, inclusive of $12 million of excise taxes.

The excise tax liability of $12 million, which was included in accounts payable and accrued expenses on the consolidated balance sheets as of February 3, 2024, was paid in October 2024 and is no longer outstanding as of February 1, 2025.

Share Retirements

In fiscal 2022, we retired 3,719,550 shares of common stock related to shares we repurchased under the Share Repurchase Program. As a result of this retirement, we reclassified a total of $444 million and $560 million from treasury stock to additional paid-in capital and retained earnings (accumulated deficit), respectively, on the consolidated balance sheets and consolidated statements of stockholders’ equity (deficit).

In fiscal 2023, we retired 3,887,965 shares of common stock related to shares we repurchased under the Share Repurchase Program. As a result of this retirement, we reclassified a total of $10 million and $1,251 million from treasury stock to additional paid-in capital and retained earnings (accumulated deficit), respectively, on the consolidated balance sheets and consolidated statements of stockholders’ equity (deficit).