Quarterly report pursuant to Section 13 or 15(d)

Financing Activities

v3.22.2.2
Financing Activities
 9 Months Ended
Oct. 29, 2022
Debt Disclosure [Abstract]  
Financing Activities

4.

Financing Activities

The following table shows the detail of debt repayments:

 

 

 

39 Weeks Ended

 

 

 

October 29, 2022

 

 

October 30, 2021

 

 

 

(millions)

 

Revolving credit agreement

 

$

858

 

 

$

335

 

2.875% Senior notes due 2023

 

 

504

 

 

 

136

 

3.625% Senior notes due 2024

 

 

350

 

 

 

150

 

4.375% Senior notes due 2023

 

 

161

 

 

 

49

 

6.65% Senior debentures due 2024

 

 

117

 

 

 

4

 

6.9% Senior debentures due 2032

 

 

4

 

 

 

—

 

6.7% Senior debentures due 2034

 

 

2

 

 

 

—

 

6.7% Senior debentures due 2028

 

 

1

 

 

 

—

 

8.375% Senior notes due 2025

 

 

—

 

 

 

1,300

 

3.875% Senior notes due 2022

 

 

—

 

 

 

450

 

7.6% Senior debentures due 2025

 

 

—

 

 

 

19

 

9.5% Amortizing debentures due 2021

 

 

—

 

 

 

2

 

9.75% Amortizing debentures due 2021

 

 

—

 

 

 

1

 

 

 

$

1,997

 

 

$

2,446

 

 

 

 

 

 

 

 

 

 

As of October 29, 2022, and October 30, 2021, the Company had $65 million and $116 million of standby letters of credit outstanding under its revolving credit facility (“ABL Credit Facility”), respectively, which reduced the available borrowing capacity to $2,935 million and $2,825 million respectively. The Company had outstanding borrowings under the ABL Credit Facility of $183 million as of October 29, 2022 and $140 million as of October 30, 2021.

During the 39 weeks ended October 29, 2022 and October 30, 2021 the Company repurchased approximately 24 million and 13 million shares of its common stock pursuant to share purchase authorizations existing at each period, respectively, for a total of approximately $600 million and $300 million, respectively. As of October 29, 2022, the Company had $1.4 billion of authorization remaining under its share repurchase program. The Company may continue or, from time to time, suspend repurchases of shares under its share repurchase program, depending on prevailing market conditions, alternate uses of capital and other factors.