Shareholders' Equity

12 Months Ended

Jan. 28, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity

NOTE 11: SHAREHOLDERS’ EQUITY

The following is a summary of the activity related to our share repurchase programs in 2014, 2015 and 2016:

	Shares	Average price per share		Amount
Capacity at February 1, 2014					$670
September 2014 authorization (ended March 1, 2016)				1,000
Shares repurchased	8.9		$66	(595		)
Capacity at January 31, 2015				1,075
October 2015 authorization (ended 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
Shares repurchased	5.9		$48	(282		)
Capacity at January 28, 2017					$529

Our October 1, 2015 Board authorized share repurchase program, which had $529 of remaining capacity as of January 28, 2017, expired on March 1, 2017. There was $409 of unused capacity upon program expiration. In February 2017, our Board of Directors authorized an additional program to repurchase up to $500 of our outstanding common stock, through August 31, 2018. 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 $1.48 per share in 2016, $6.33 per share in 2015 and $1.32 per share in 2014. Dividends paid in 2015 included a special cash dividend of $905, or $4.85 per share of outstanding common stock, in addition to our quarterly dividends totaling $1.48 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 2017, subsequent to year end, we declared a quarterly dividend of $0.37 per share, which was paid on March 15, 2017.