Shareholders' Equity (Tables)

12 Months Ended

Jan. 31, 2020

Stockholders' Equity Note [Abstract]

The terms of each ASR agreement entered into during the last three fiscal years, structured as outlined above, follow (in millions):



Agreement Execution Date	ASR Settlement Date	ASR Agreement Amount		Minimum Notional Amount¹		Maximum Notional Amount¹		Cash Payment Received at Settlement¹		Initial Shares Delivered	Additional Shares Delivered at Settlement	Total Shares Delivered
Q1 2017	Q1 2017	$	500	$	—	$	—	$	—	5.3	0.8	6.1
Q2 2017	Q2 2017	500		—		—		—		5.2	1.2	6.4
Q3 2017	Q3 2017	250		—		—		—		2.9	0.3	3.2
Q2 2018	Q2 2018	550		—		—		—		4.8	0.8	5.6
Q3 2018	Q3 2018	310		—		—		—		2.5	0.3	2.8
Q4 2018	Q1 2019	270		—		—		—		2.6	0.3	2.9
Q1 2019	Q1 2019	350		350		500		150		2.9	0.3	3.2
Q2 2019	Q2 2019	990		990		1,410		420		8.9	1.0	9.9
Q3 2019	Q3 2019	397		350		500		103		2.8	0.8	3.6

The Company entered into variable notional ASR agreements with third-party financial institutions to repurchase between a minimum notional amount and a maximum notional amount. At inception of each transaction, the Company paid the maximum notional amount and received shares. When the Company finalized each transaction, it received additional shares as well as a cash payment from the third-party financial institution equal to the difference between the prepayment amount (maximum notional amount) and the final notional amount.

Schedule of share repurchases

Shares repurchased for 2019, 2018 and 2017 were as follows:



	2019			2018			2017
(In millions)	Shares	Cost ¹		Shares	Cost ¹		Shares	Cost ¹
Share repurchase program	41.0	$	4,288	31.2	$	2,999	39.1	$	3,133
Shares withheld from employees	0.3	37		0.5	46		0.5	41
Total share repurchases	41.3	$	4,325	31.7	$	3,045	39.6	$	3,174

Reductions of $4.1 billion, $2.8 billion, and $2.9 billion were recorded to retained earnings, after capital in excess of par value was depleted, for 2019, 2018, and 2017, respectively.