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Stock Repurchase Program
8 Months Ended
May 08, 2021
Equity  
Stock Repurchase Program

Note H – Stock Repurchase Program

From January 1, 1998 to May 8, 2021, the Company has repurchased a total of 149.7 million shares of its common stock at an aggregate cost of $24.832 billion, including 2.0 million shares of its common stock at an aggregate cost of $2.478 billion during the thirty-six week period ended May 8, 2021. On December 15, 2020, the Board voted to increase the repurchase authorization by $1.5 billion. On March 23, 2021, the Board voted to increase the repurchase authorization by an additional $1.5 billion. This raised the total value of shares authorized to be repurchased to $26.15 billion. Considering the cumulative repurchases as of May 8, 2021, the Company had $1.318 billion remaining under the Board’s authorization to repurchase its common stock.

During the thirty-six week period ended May 8, 2021, the Company retired 1.0 million shares of treasury stock which had previously been repurchased under the Company’s share repurchase program. The retirement increased Retained deficit by $1.139 billion and decreased Additional paid-in capital by $60.0 million. During the comparable prior year period, the Company retired 1.9 million shares of treasury stock, which increased Retained deficit by $1.879 billion and decreased Additional paid-in capital by $99.7 million.

Subsequent to May 8, 2021, the Company has repurchased 119,391 shares of its common stock at an aggregate cost of $174.8 million.