SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT	6 Months Ended
Aug. 03, 2024
SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT
SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT	NOTE 14—SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT Share Repurchase Program In 2018, our Board of Directors authorized a share repurchase program. On June 2, 2022, the Board of Directors authorized an additional $2,000 million for the purchase of shares of our outstanding common stock, increasing the total authorized size of the share repurchase program to $2,450 million (the “Share Repurchase Program”). We did not repurchase any shares of our common stock under the Share Repurchase Program during the three or six months ended August 3, 2024. As of August 3, 2024, $201 million remains available for future share repurchases under this program. In the three and six months ended July 29, 2023, we repurchased 3,698,887 shares of our common stock under the Share Repurchase Program at an average price of $325.65 per share, for an aggregate repurchase amount of approximately $1,205 million. In addition, we recorded $12 million of excise taxes payable related to the share repurchase activity during the three and six months ended July 29, 2023, which is recorded in accounts payable and accrued expenses on the condensed consolidated balance sheets. We had $12 million of excise taxes payable as of both August 3, 2024 and February 3, 2024. Share Retirement In the three and six months ended July 29, 2023, we retired 3,698,887 shares of common stock related to shares we repurchased under the Share Repurchase Program. As a result of this retirement, we reclassified a total of $8.6 million and $1,208 million from treasury stock to additional paid-in capital and retained earnings (accumulated deficit), respectively, on the condensed consolidated statements of stockholders’ equity (deficit) as of and for the three and six months ended July 29, 2023.

SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

6 Months Ended

Aug. 03, 2024

SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

NOTE 14—SHARE REPURCHASE PROGRAM AND SHARE RETIREMENT

Share Repurchase Program

In 2018, our Board of Directors authorized a share repurchase program. On June 2, 2022, the Board of Directors authorized an additional $2,000 million for the purchase of shares of our outstanding common stock, increasing the total authorized size of the share repurchase program to $2,450 million (the “Share Repurchase Program”). We did not repurchase any shares of our common stock under the Share Repurchase Program during the three or six months ended August 3, 2024. As of August 3, 2024, $201 million remains available for future share repurchases under this program.

In the three and six months ended July 29, 2023, we repurchased 3,698,887 shares of our common stock under the Share Repurchase Program at an average price of $325.65 per share, for an aggregate repurchase amount of approximately $1,205 million. In addition, we recorded $12 million of excise taxes payable related to the share repurchase activity during the three and six months ended July 29, 2023, which is recorded in accounts payable and accrued expenses on the condensed consolidated balance sheets. We had $12 million of excise taxes payable as of both August 3, 2024 and February 3, 2024.

Share Retirement

In the three and six months ended July 29, 2023, we retired 3,698,887 shares of common stock related to shares we repurchased under the Share Repurchase Program. As a result of this retirement, we reclassified a total of $8.6 million and $1,208 million from treasury stock to additional paid-in capital and retained earnings (accumulated deficit), respectively, on the condensed consolidated statements of stockholders’ equity (deficit) as of and for the three and six months ended July 29, 2023.