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Share Repurchases
9 Months Ended
Nov. 03, 2018
Equity [Abstract]  
Share Repurchases

NOTE 12—SHARE REPURCHASES

Fiscal 2018 $700 Million Share Repurchase Program

On October 10, 2018, the Company’s Board of Directors authorized a share repurchase program of up to $700 million (the “Fiscal 2018 $700 Million Repurchase Program”). Under the Fiscal 2018 $700 Million Repurchase Program, the Company repurchased approximately 1.2 million shares of its common stock at an average price of $125.06 per share, for an aggregate repurchase amount of approximately $145.2 million, during the three months ended November 3, 2018. As of November 3, 2018, there was $554.8 million available under the Fiscal 2018 $700 Million Repurchase Program.

Fiscal 2017 $700 Million Share Repurchase Program

On May 2, 2017, the Company’s Board of Directors authorized a share repurchase program of up to $700 million (the “Fiscal 2017 $700 Million Repurchase Program”). Under the Fiscal 2017 $700 Million Repurchase Program, the Company repurchased approximately 12.4 million shares of its common stock at an average price of $56.60 per share, for an aggregate repurchase amount of approximately $700 million, during the three months ended July 29, 2017. As the Fiscal 2017 $700 Million Repurchase Program was completed during the three months ended July 29, 2017 there will be no repurchases in future periods under this repurchase authorization.

Fiscal 2017 $300 Million Share Repurchase Program

On February 21, 2017, the Company’s Board of Directors authorized a share repurchase program of up to $300 million (the “Fiscal 2017 $300 Million Repurchase Program”). Under the Fiscal 2017 $300 Million Repurchase Program, the Company repurchased approximately 7.8 million shares of its common stock at an average price of $38.24 per share, for an aggregate repurchase amount of approximately $300 million, during the three months ended April 29, 2017. As the Fiscal 2017 $300 Million Repurchase Program was completed during the three months ended April 29, 2017 there will be no repurchases in future periods under this repurchase authorization.

Share Repurchases Under Equity Plans

As of November 3, 2018 and February 3, 2018, the aggregate unpaid principal amount of the notes payable for share repurchases was $19.6 million and $19.4 million, respectively. As of November 3, 2018, $0.9 million and $18.7 million were included in other current liabilities and other non-current obligations on the condensed consolidated balance sheets. As of February 3, 2018, $19.4 million was included in other non-current obligations. During both the three months ended November 3, 2018 and October 28, 2017, the Company recorded interest expense on the outstanding notes of $0.2 million. During both the nine months ended November 3, 2018 and October 28, 2017, the Company recorded interest expense on the outstanding notes of $0.7 million.

Of the $19.6 million and $19.4 million notes payable for share repurchases outstanding as of November 3, 2018 and February 3, 2018, respectively, $15.5 million was due to a current board member of the Company.