2.4.0.81070 - Disclosure - Share Repurchases and Reissuancestruefalsefalse1false falsefalseD2014Q2YTDhttp://www.sec.gov/CIK0000884217duration2013-02-03T00:00:002013-08-03T00:00:001true 1mw_TreasuryStockAbstractmw_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Share Repurchases and Reissuances2false 2mw_ShareRepurchasesAndReissuancesTextBlockmw_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="font-size:10.0pt;font-family:Times New Roman;"> 7.  Share Repurchases and Reissuances   In March 2013, the Board of Directors (the “Board”) approved a $200.0 million share repurchase program for our common stock.  This approval amended and replaced our existing $150.0 million share repurchase program authorized by the Board in January 2011, which had a remaining authorization of $45.2 million at the time of amendment.   In July 2013, we entered into an accelerated share repurchase agreement (“ASR Agreement”) with J.P. Morgan Securities LLC (“JP Morgan”), as agent for JPMorgan Chase Bank, National Association, London Branch, to purchase $100.0 million of our common stock.  We paid $100.0 million to JPMorgan and received an initial delivery of 2,197,518 shares (which is approximately 85% of the number of shares expected to be repurchased in connection with this transaction), and reduced our shares outstanding as of August 3, 2013.  The value of the initial shares received on the date of purchase was approximately $85.0 million, reflecting a $38.68 price per share which was recorded as a retirement of the shares for purposes of calculating earnings per share.  In accordance with authoritative guidance, we recorded the remaining $15.0 million as a forward contract indexed to our common stock within capital in excess of par.  The specific final number of shares to be repurchased by JPMorgan will generally be based on the volume-weighted average share price of our common stock during the calculation period of the ASR Agreement which is expected to be completed no later than the fourth quarter of 2013.  In the unlikely event we are required to deliver value to JPMorgan at the end of the purchase period, we, at our option, may elect to settle in shares or cash.   In addition to the ASR Agreement, during the first six months of fiscal 2013, 1,489,318 shares at a cost of $52.0 million were repurchased in open market transactions at an average price per share of $34.89 under the Board’s March 2013 authorization.  At August 3, 2013, the remaining balance available under the Board’s March 2013 authorization was $48.0 million, which has been reduced by the entire $100.0 million payment under the ASR Agreement.   During the first six months of fiscal 2012, 1,121,484 shares at a cost of $41.0 million were repurchased at an average price per share of $36.59 under the January 2011 authorization.   During the six months ended August 3, 2013 and July 28, 2012, 5,378 shares and 7,041 shares, respectively, at a cost of $0.2 million and $0.3 million, respectively, were repurchased at an average price per share of $30.03 and $37.28, respectively, in private transactions to satisfy tax withholding obligations arising upon the vesting of certain restricted stock.   The following table summarizes our total common stock repurchases (in thousands, except share data and average price per share):   <table style="text-align:left;WIDTH: 73.34%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 1in;" border="0" cellspacing="0" cellpadding="0" width="73%"> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 59.2%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="59%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.42%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 36.2%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="36%" colspan="5"> For the Six Months Ended</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.18%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%">  </td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 59.2%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="59%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.42%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 16.4%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="16%" colspan="2"> August 3, 2013</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.4%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%">  </td> <td style="BORDER-BOTTOM: windowtext 1pt solid; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 16.4%; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="16%" colspan="2"> July 28, 2012</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.18%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%">  </td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 59.2%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="59%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.42%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%">  </td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 16.4%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="16%" colspan="2">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.4%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%">  </td> <td style="BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 16.4%; PADDING-RIGHT: 0in; BORDER-TOP: medium none; BORDER-RIGHT: medium none; PADDING-TOP: 0in;" valign="bottom" width="16%" colspan="2">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.18%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%">  </td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 59.2%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="top" width="59%"> Shares repurchased</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.42%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 16.4%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="16%" colspan="2"> 3,692,214</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.4%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 16.4%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="16%" colspan="2"> 1,128,525</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.18%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%">  </td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 59.2%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="top" width="59%"> Total costs</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.42%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.74%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%"> $</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.66%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="14%"> 152,129</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.4%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="3%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.74%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%"> $</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.66%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="14%"> 41,296</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.18%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="1%">  </td></tr> <tr style="padding:0;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 59.2%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="top" width="59%"> Average price per share</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.42%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.74%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%"> $</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.66%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="14%"> 37.14</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 3.4%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="3%">  </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.74%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%"> $</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 14.66%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="14%"> 36.59</td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 1.18%; PADDING-RIGHT: 0in; BACKGROUND: #cceeff; PADDING-TOP: 0in;" bgcolor="#CCEEFF" valign="bottom" width="1%">  </td></tr></table>   Shares purchased pursuant to the ASR Agreement are presented in the above table in the periods in which they are received.  The total costs includes the entire $100.0 million payment, however, the average price per share calculation excludes the $15.0 million recorded as a forward contract.   As of August 3, 2013 and July 28, 2012, 6,735 treasury shares and 6,295 treasury shares, respectively, of our common stock were reissued pursuant to a two-year services agreement with an unrelated third party.  The fair value of the common stock issued during the six months ended August 3, 2013 and July 28, 2012 was approximately $0.2 million, respectively. </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for share repurchases and reissuances.No definition available.false0Share Repurchases and ReissuancesfalseShare Repurchases and ReissuancesUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.menswearhouse.com/role/DisclosureShareRepurchasesAndReissuances12