Share Repurchase Programs

9 Months Ended

Apr. 29, 2012

Share Repurchase Programs [Abstract]

Treasury Stock Repurchases Text Block

Share Repurchase Programs

In June 2011, the Board authorized the purchase of up to $1,000 of company stock. This program has no expiration date. In addition to this publicly announced program, the company repurchases shares to offset the impact of dilution from shares issued under the company’s stock compensation plans.

During the nine-month period ended April 29, 2012, the company repurchased 8 million shares at a cost of $272. Of this amount, $181 was used to repurchase shares pursuant to the company’s June 2011 publicly announced share repurchase program. Approximately $819 remains available under this program as of April 29, 2012.

During the nine-month period ended May 1, 2011, the company repurchased 20 million shares at a cost of $696. Of this amount, $543 was used to repurchase shares pursuant to the company’s June 2008 publicly announced share repurchase program, which was completed in the fourth quarter of 2011.