Stockholders' Equity

12 Months Ended

Jan. 31, 2026

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Shareholders’ Equity

Stock repurchase program. In March 2024, the Company’s Board of Directors approved a two-year program to repurchase up to $2.1 billion of the Company’s common stock. This program was completed at the end of fiscal 2025 and followed the previously completed two-year $1.9 billion stock repurchase program, effective through fiscal 2023.

The following table summarizes the Company’s stock repurchase activity in fiscal 2025, 2024, and 2023:

Fiscal Year	Shares repurchased (in millions)	Average repurchase price		Amount repurchased (in millions)1
2025	7.1	$	147.61	$	1,050
2024	7.3	$	144.46	$	1,050
2023	8.2	$	115.24	$	950
1 Amount excludes excise tax due under the Inflation Reduction Act of 2022.

In March 2026, the Company’s Board of Directors approved a new, two-year program to repurchase up to $2.55 billion of the Company’s common stock through January 29, 2028.

Treasury stock. As of January 31, 2026 and February 1, 2025, the Company held 17.0 million and 16.4 million shares of treasury stock, respectively. Shares repurchased for tax withholding are considered treasury shares which are available for reissuance. Shares purchased by the Company for tax withholding totaled 0.6 million, 0.6 million, and 0.5 million shares for fiscal 2025, 2024, and 2023, respectively.

Preferred stock. The Company has 4.0 million shares of preferred stock authorized, with a par value of $.01 per share. No preferred stock is issued or outstanding.

Dividends. On March 3, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.4450 per common share, payable on March 31, 2026. The Company’s Board of Directors declared a cash dividend of $0.4050 per common share in March, May, August, and November 2025. The Company’s Board of Directors declared a cash dividend of $0.3675 per common share in March, May, August, and November 2024. The Company’s Board of Directors declared a cash dividend of $0.3350 per common share in February, May, August, and November 2023. During fiscal 2025, 2024, and 2023, the Company paid dividends of $528.1 million, $488.7 million, and $454.8 million, respectively.