STOCKHOLDERS' EQUITY

6 Months Ended

Jul. 28, 2024

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

Stock Rollforward

The following table presents a reconciliation of the number of shares of our common stock outstanding and cash dividends per share:

shares in millions	Three Months Ended				Six Months Ended
	July 28, 2024		July 30, 2023		July 28, 2024		July 30, 2023
Common stock:
Shares at beginning of period	1,798		1,795		1,796		1,794
Shares issued under employee stock plans, net	1		1		3		2
Shares at end of period	1,799		1,796		1,799		1,796
Treasury stock:
Shares at beginning of period	(806)		(788)		(804)		(778)
Repurchases of common stock	—		(7)		(2)		(17)
Shares at end of period	(806)		(795)		(806)		(795)
Shares outstanding at end of period	993		1,001		993		1,001
Cash dividends per share	$	2.25	$	2.09	$	4.50	$	4.18

Share Repurchases

In August 2023, our Board of Directors approved a $15.0 billion share repurchase authorization that replaced the previous authorization of $15.0 billion, which was approved in August 2022. The August 2023 authorization does not have a prescribed expiration date. As of July 28, 2024, approximately $11.7 billion of the $15.0 billion share repurchase authorization remained available. In March 2024, we paused share repurchases in anticipation of the acquisition of SRS (see Note 10).

The following table presents information about our repurchases of common stock, all of which were completed through open market purchases:

in millions	Three Months Ended				Six Months Ended
	July 28, 2024		July 30, 2023		July 28, 2024		July 30, 2023
Total number of shares repurchased	—		7		2		17
Total cost of shares repurchased	$	(1)	$	2,017	$	599	$	5,045

The cost of shares repurchased may differ from the repurchases of common stock amounts in the consolidated statements of cash flows due to unsettled share repurchases at the end of a period and net excise taxes incurred on share repurchases.