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Share Repurchase Programs
9 Months Ended
May 01, 2011
Share Repurchase Programs  
Share Repurchase Programs

14.  Share Repurchase Programs

 

In June 2008, the company's Board of Directors authorized the purchase of up to $1,200 of company stock through fiscal 2011.  This program began in fiscal 2009.  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 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.  Approximately $7 remains available under this program as of May 1, 2011.

 

During the nine-month period ended May 2, 2010, the company repurchased 9 million shares at a cost of $315.  Of this amount, $182 was used to repurchase shares pursuant to the company's June 2008 publicly announced share repurchase program.