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Share Repurchase
6 Months Ended
Jul. 30, 2011
Share Repurchase  
Share Repurchase

 

 

10.  Share Repurchase

 

We repurchase shares primarily through open market transactions under a $10 billion share repurchase plan authorized by our Board of Directors in November 2007.

 

Share Repurchases

(millions, except per share data)

 

Total Number of
Shares Purchased

 

Average Price
Paid per Share

 

Total
Investment

 

First quarter 2010

 

7.5

 

$

52.27

 

$

394

 

Second quarter 2010

 

17.6

 

51.72

 

907

 

Year-to-date 2010

 

25.1

 

$

51.89

 

$

1,301

 

 

 

 

 

 

 

 

 

First quarter 2011

 

15.4

 

$

53.32

 

$

819

 

Second quarter 2011

 

14.3

 

48.11

 

688

 

Year-to-date 2011

 

29.7

 

$

50.81

 

$

1,507

 

 

Of the shares reacquired, a portion was delivered upon settlement of prepaid forward contracts as follows:

 

Settlement of Prepaid Forward Contracts(a)
(millions)

 

Total Number of
Shares Reacquired

 

Total Cash
Investment

 

Aggregate
Market Value(b)

 

First quarter 2010

 

0.3

 

$

15

 

$

16

 

Second quarter 2010

 

 

 

 

Year-to-date 2010

 

0.3

 

$

15

 

$

16

 

 

 

 

 

 

 

 

 

First quarter 2011

 

0.1

 

$

7

 

$

7

 

Second quarter 2011

 

0.2

 

7

 

7

 

Year-to-date 2011

 

0.3

 

$

14

 

$

14

 

(a) These contracts are among the investment vehicles used to reduce our economic exposure related to our nonqualified deferred compensation plans. The details of our positions in prepaid forward contracts have been provided in Note 11.

(b) At their respective settlement dates.