Share Repurchases

9 Months Ended

Apr. 28, 2013

Equity [Abstract]

Share Repurchases

Share Repurchases

In December 2012, 219 million shares held as treasury stock were retired and returned to unissued status.

In June 2011, the Board authorized the purchase of up to $1,000 of company stock. This program has no expiration date. The company suspended purchases under this program in July 2012. Approximately $750 remained available under this program as of April 28, 2013. The company also 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 28, 2013, the company repurchased approximately 4 million shares at a cost of $139.

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.