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Share Repurchase
9 Months Ended
Oct. 29, 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

 

Three Months Ended

 

Nine Months Ended

 

(millions, except per share data)

 

October 29,
2011

 

October 30,
2010

 

October 29,
2011

 

October 30,
2010

 

Total number of shares purchased

 

4.5

 

15.2

 

34.1

 

40.2

 

Average price paid per share

 

$

50.45

 

$

52.29

 

$

50.76

 

$

52.04

 

Total investment

 

$

226

 

$

793

 

$

1,733

 

$

2,093

 

 

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

 

Settlement of Prepaid Forward Contracts(a)

 

Three Months Ended

 

Nine Months Ended

 

(millions)

 

October 29,
2011

 

October 30,
2010

 

October 29,
2011

 

October 30,
2010

 

Total number of shares purchased

 

0.5

 

0.5

 

0.8

 

0.8

 

Total cash investment

 

$

26

 

$

24

 

$

40

 

$

39

 

Aggregate market value(b)

 

$

26

 

$

26

 

$

40

 

$

42

 

(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.