Shareholders' Equity

12 Months Ended

Jan. 30, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

SHAREHOLDERS’ EQUITY

In February 2013, our Board of Directors authorized a program to repurchase up to $800 of our outstanding common stock, through March 1, 2015. There was $73 of unused capacity upon program expiration. In September 2014, our Board of Directors authorized a program to repurchase up to $1,000 of our outstanding common stock, through March 1, 2016. As of January 30, 2016, there is no capacity remaining on the September 2014 authorization. On October 1, 2015, our Board of Directors authorized a program to repurchase up to $1,000 of our outstanding common stock, through March 1, 2017. The following is a summary of the activity related to our share repurchase programs in 2013, 2014 and 2015:

	Shares	Average price per share		Amount
Capacity at February 2, 2013					$393
February 2013 authorization (ended March 1, 2015)				800
Shares repurchased	9.1		$57	(523		)
Capacity at February 1, 2014				670
September 2014 authorization (ends March 1, 2016)				1,000
Shares repurchased	8.9		$66	(595		)
Capacity at January 31, 2015				1,075
October 2015 authorization (ends March 1, 2017)				1,000
Shares repurchased	19.1		$63	(1,191		)
Expiration of unused capacity in March 2015				(73		)
Capacity at January 30, 2016					$811

The actual number, price, manner and timing of future share repurchases, if any, will be subject to market and economic conditions and applicable SEC rules.

We paid dividends of $6.33 per share in 2015, $1.32 per share in 2014 and $1.20 per share in 2013. Dividends paid in 2015 included a special cash dividend of $905, or $4.85 per share of outstanding common stock, in addition to our recurring quarterly dividend of $0.37 per share. The special dividend was authorized by our Board of Directors on October 1, 2015 and was paid using proceeds from the sale of our credit card receivables (see Note 2: Credit Card Receivable Transaction).

In February 2016, subsequent to year end, we declared a quarterly dividend of $0.37 per share, which will be paid on March 22, 2016.