Shareowners' Equity

12 Months Ended

Aug. 03, 2014

Equity [Abstract]

Share Repurchases

Shareholders' Equity

The company has authorized 560 million shares of Capital stock with $.0375 par value and 40 million shares of Preferred stock, issuable in one or more classes, with or without par as may be authorized by the Board of Directors. No Preferred stock has been issued.

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

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. Purchases under the program were suspended from July 2012 through 2014. Approximately $750 remained available under this program as of August 3, 2014. The company also repurchases shares to offset the impact of dilution from shares issued under the company’s stock compensation plans. In 2014, the company repurchased 2 million shares at a cost of $76. In 2013, the company repurchased 4 million shares at a cost of $153. In 2012, the company repurchased 13 million shares at a cost of $412. Of this amount, $250 was used to repurchase shares pursuant to the company’s June 2011 publicly announced share repurchase program.