Repurchase of Common Stock

3 Months Ended

Apr. 30, 2022

Shareholders' Equity [Abstract]

Shareholders' Equity

9. Repurchase of Common Stock

On February 28, 2022, our Board of Directors approved a new $5.0 billion share repurchase program, which replaced the $5.0 billion share repurchase program authorized on February 16, 2021. There is no expiration date governing the period over which we can repurchase shares under this authorization. On May 24, 2022, we reaffirmed our plans to spend approximately $1.5 billion on share repurchases in fiscal 2023.

Information regarding the shares we repurchased and retired was as follows ($ and shares in millions, except per share amounts):

	Three Months Ended
	April 30, 2022		May 1, 2021
Total cost of shares repurchased	$	442	$	915
Average price per share	$	97.18	$	108.69
Number of shares repurchased		4.5		8.4

As of April 30, 2022, $4.7 billion of the $5.0 billion share repurchase authorization was available.