Share Repurchase

12 Months Ended

Jan. 30, 2016

In 2015, our Board of Directors authorized a $5 billion expansion of our existing share repurchase program to $10 billion. Under this program, we have repurchased 94.6 million shares of common stock through January 30, 2016, at an average price of $69.57, for a total investment of $6.6 billion.



Share Repurchases (millions, except per share data)	2015		2014		2013
Total number of shares purchased ^(a)	44.7		0.8		21.9
Average price paid per share	$	77.07	$	54.07	$	67.41
Total investment	$	3,441	$	41	$	1,474

^(a)

Includes 0.1 million, 0.8 million, and 0.2 million shares delivered upon the non-cash settlement of prepaid contracts in 2015, 2014, and 2013, respectively. These contracts had an original cash investment of $3 million, $41 million, and $14 million, respectively, and an aggregate market value of $7 million, $46 million, and $17 million. These contracts are among the investment vehicles used to reduce our economic exposure related to our nonqualified deferred compensation plans. Note 27 provides the details of our positions in prepaid forward contracts.