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Accelerated Share Repurchase
3 Months Ended
May 05, 2013
Accelerated Share Repurchase  
Accelerated Share Repurchase
ACCELERATED SHARE REPURCHASE
In the first quarter of fiscal 2013, the Company entered into an Accelerated Share Repurchase ("ASR") agreement with a third-party financial institution to repurchase $1.5 billion of the Company’s common stock. Under this agreement, the Company paid $1.5 billion to the financial institution and received an initial delivery of approximately 18 million shares in the first quarter of fiscal 2013. The fair market value of the 18 million shares on the date of purchase was $1.3 billion and is included in Treasury Stock in the accompanying Consolidated Balance Sheets as of May 5, 2013. The remaining $239 million is included in Paid-In Capital in the accompanying Consolidated Balance Sheets as of May 5, 2013. The final number of shares delivered upon settlement of the $1.5 billion ASR agreement will be determined with reference to the average price of the Company’s common stock over the term of the ASR agreement.