XML 47 R29.htm IDEA: XBRL DOCUMENT v3.20.4
Subsequent Events
12 Months Ended
Jan. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On March 12, 2021 the Company announced that its Board of Directors had authorized the following:
A reduction in the Company's debt that will be effected by a make whole call to repurchase the remaining $285 million of outstanding 2022 Notes and the $750 million of outstanding 2025 Secured Notes. This make whole call was issued on March 12, 2021 and the Company anticipates using approximately $1.1 billion in cash to complete the debt repurchase;
A new $500 million share repurchase plan, which replaces the $79 million remaining under the March 2018 repurchase program. Pursuant to the Board's authorization, the Company entered into a Rule 10b5-1 purchase plan to effectuate share repurchases up to $250 million; and
A reinstatement of the Company’s annual dividend at $0.60 per share, beginning with the quarterly dividend to be paid in June 2021.