Share Repurchase

In June 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 106.0 million shares of common stock through April 30, 2016, at an average price of $70.51, for a total investment of $7.5 billion.



Share Repurchases (excluding ASR)	Three Months Ended ^(a)
(millions, except per share data)	April 30, 2016		May 2, 2015 ^(b)
Total number of shares purchased	11.4		3.7
Average price paid per share	$	78.37	$	80.85
Total investment	$	893	$	300

Note: Accelerated share repurchase (ASR) activity is omitted because the transaction initiated during the first quarter of 2015 was not fully settled as of May 2, 2015.

^(a) Excludes shares withheld to settle employee statutory tax withholding related to the vesting of share-based awards.

^(b) Includes 0.1 million shares delivered upon the noncash settlement of a prepaid contract, which had an original cash investment of $3 million and aggregate market value at its settlement date of $7 million. These contracts are among the investment vehicles used to reduce our economic exposure related to our nonqualified deferred compensation plans. Note 10 provides the details of our positions in prepaid forward contracts.

During the first quarter of 2015, we entered into an ASR agreement to repurchase common stock. Under the agreement, we received deliveries of and retired 2.2 million and 1.1 million shares during the first and second quarters of 2015, respectively, for a total cash investment of $265 million ($80.74 per share).