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Repurchase of Common Stock

6 Months Ended

Jul. 31, 2021

9. Repurchase of Common Stock

On February 16, 2021, our Board of Directors approved a new $5.0 billion share repurchase program. There is no expiration date governing the period over which we can repurchase shares under this authorization. We temporarily suspended all share repurchases from March to November of fiscal 2021 to conserve liquidity in light of COVID-19-related uncertainties. On August 24, 2021, we announced our plan to repurchase more than $2.5 billion of shares in fiscal 2022.

Information regarding the shares we repurchased was as follows ($ and shares in millions, except per share amounts):



	Three Months Ended				Six Months Ended
	July 31, 2021		August 1, 2020		July 31, 2021		August 1, 2020
Total cost of shares repurchased	$	416	$	-	$	1,331	$	56
Average price per share	$	112.75	$	-	$	109.92	$	86.30
Number of shares repurchased		3.7		-		12.1		0.6

As of July 31, 2021, $3.8 billion of the $5.0 billion share repurchase authorization was available. Between the end of the second quarter of fiscal 2022 on July 31, 2021, and August 27, 2021, we repurchased an incremental 1.4 million shares of our common stock at a cost of $160 million.