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Stockholders' Equity | 12 Months Ended
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Feb. 01, 2025
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Shareholders’ Equity Stock repurchase program. In March 2024, the Company’s Board of Directors approved a two-year program to repurchase up to $2.1 billion of the Company’s common stock through January 31, 2026. This program followed the previous two-year $1.9 billion stock repurchase program, effective at the end of fiscal 2023. The following table summarizes the Company’s stock repurchase activity in fiscal 2024, 2023, and 2022:
Fiscal Year |  | Shares repurchased (in millions) |  | Average repurchase price |  | Amount repurchased (in millions) |
2024 |  | 7.3 |  |  | $ | 144.46 |  |  | $ | 1,050 |  | 1
2023 |  | 8.2 |  |  | $ | 115.24 |  |  | $ | 950 |  | 1
2022 |  | 10.3 |  |  | $ | 92.15 |  |  | $ | 950 |  |
1 Amount excludes excise tax due under the Inflation Reduction Act of 2022. |
Treasury stock. As of February 1, 2025 and February 3, 2024, the Company held 16.4 million and 15.8 million shares of treasury stock, respectively. Shares repurchased for tax withholding are considered treasury shares which are available for reissuance. Shares purchased by the Company for tax withholding totaled 0.6 million, 0.5 million, and 0.5 million shares for fiscal 2024, 2023, and 2022, respectively. Preferred stock. The Company has 4.0 million shares of preferred stock authorized, with a par value of $.01 per share. No preferred stock is issued or outstanding. Dividends. On March 4, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.4050 per common share, payable on March 31, 2025. The Company’s Board of Directors declared a cash dividend of $0.3675 per common share in March, May, August, and November 2024. The Company’s Board of Directors declared a cash dividend of $0.3350 per common share in February, May, August, and November 2023. The Company’s Board of Directors declared a cash dividend of $0.3100 per common share in March, May, August, and November 2022. During fiscal 2024, 2023, and 2022, the Company paid dividends of $488.7 million, $454.8 million, and $431.3 million, respectively.

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