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STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended
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Jul. 30, 2023
Equity [Abstract] |
Schedule of reconciliation of the number of shares of common stock outstanding and cash dividends per share | The following table presents a reconciliation of the number of shares of our common stock outstanding and cash dividends per share:
shares in millions | Three Months Ended |  | Six Months Ended
July 30, 2023 |  | July 31, 2022 |  | July 30, 2023 |  | July 31, 2022
Common stock: |  |  |  |  |  |  |
Shares at beginning of period | 1,795 |  |  | 1,793 |  |  | 1,794 |  |  | 1,792 |
Shares issued under employee stock plans, net | 1 |  |  | — |  |  | 2 |  |  | 1 |
Shares at end of period | 1,796 |  |  | 1,793 |  |  | 1,796 |  |  | 1,793 |
Treasury stock: |  |  |  |  |  |  |
Shares at beginning of period | (788) |  |  | (764) |  |  | (778) |  |  | (757) |
Repurchases of common stock | (7) |  |  | (5) |  |  | (17) |  |  | (12) |
Shares at end of period | (795) |  |  | (769) |  |  | (795) |  |  | (769) |
Shares outstanding at end of period | 1,001 |  |  | 1,024 |  |  | 1,001 |  |  | 1,024 |
Cash dividends per share | $ | 2.09 |  |  | $ | 1.90 |  |  | $ | 4.18 |  |  | $ | 3.80 |
Schedule of repurchases of common stock | The following table presents information about our repurchases of common stock, all of which were completed through open market purchases:
in millions | Three Months Ended |  | Six Months Ended
July 30, 2023 |  | July 31, 2022 |  | July 30, 2023 |  | July 31, 2022
Total number of shares repurchased | 7 |  |  | 5 |  |  | 17 |  |  | 12 |
Total cost of shares repurchased (1) | $ | 2,017 |  |  | $ | 1,520 |  |  | $ | 5,045 |  |  | $ | 3,770 |
————— (1) Effective January 1, 2023, the Company’s share repurchases are subject to a 1% excise tax as a result of the Inflation Reduction Act of 2022. Excise taxes incurred on share repurchases represent direct costs of the repurchase and are recorded as a part of the cost basis of the shares within treasury stock.

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