Repurchase of Common Stock

Our Board of Directors authorized a $5 billion share repurchase program in February 2017. The program, which became effective on February 27, 2017, terminated and replaced a $5 billion share repurchase program authorized by our Board of Directors in June 2011. There is no expiration governing the period over which we can make our share repurchases under the February 2017 $5 billion share repurchase program.

The following table presents information regarding the shares we repurchased during the three months ended April 29, 2017, and April 30, 2016 ($ and shares in millions, except per share amounts):



	Three Months Ended
	April 29, 2017		April 30, 2016
Total cost of shares repurchased
Open market⁽¹⁾	$	384	$	56
Settlement of January 2016 ASR⁽²⁾	—		45
Total	$	384	$	101

Average price per share
Open market	$	46.3	$	32.41
Settlement of January 2016 ASR⁽²⁾	$	—	$	28.55
Average	$	46.3	$	30.55

Number of shares repurchased and retired
Open market⁽¹⁾	8.3		1.7
Settlement of January 2016 ASR⁽²⁾	—		1.6
Total	8.3		3.3


(1)	As of April 29, 2017, $19 million, or 0.3 million shares, in trades remained unsettled. As of April 30, 2016, $4 million, or 0.1 million shares, in trades remained unsettled. The liability for unsettled trades is included in Accrued liabilities in the Condensed Consolidated Balance Sheets.


(2)	See Note 7, Shareholders' Equity, in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2017, for additional information regarding the January 2016 ASR.

For the three months ended April 29, 2017, we purchased and retired 0.9 million shares at a cost of $38 million under our June 2011 share repurchase program, and 7.4 million shares at a cost of $346 million under our February 2017 share repurchase program. Approximately $4.7 billion remained available for additional purchases under the February 2017 share repurchase program as of April 29, 2017. Repurchased shares are retired and constitute authorized but unissued shares.