Costco 2007 Annual Report Download - page 23

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Stock Repurchase Program
In October 2004, our Board of Directors authorized the repurchase of $500 million of our common
stock. In August 2005, our Board approved an additional common stock repurchase of $1 billion, with
no expiration date; and in January and July 2006, our Board approved additional stock repurchases of
$1 billion and $2 billion, respectively, which expire in 2009, bringing total authorizations since inception
of the stock repurchase program to $4.5 billion at fiscal 2007 year end. Subsequent to the end of fiscal
2007, our Board approved an additional $1.3 billion of common stock repurchases, which expire in
2010, bringing total stock repurchase authorizations since inception to $5.8 billion.
Since the inception of this stock repurchase program, we have repurchased 74.0 million shares of our
common stock for a total cash investment of $3.9 billion ($52.07 per share) through 2007 fiscal year
end. Subsequent to fiscal 2007 year end, and through the first quarter of fiscal 2008, we repurchased
an additional 4.4 million shares at a cash investment of $271 million ($61.77 per share).
The following table sets forth information on our common stock repurchase program activity for the
fourth quarter of fiscal 2007 (amounts in thousands, except per share data):
Period(1)
Total
Number of
Shares
Purchased
Average
Price Paid
per Share
Total Number of
Shares Purchased
as Part of Publicly
Announced
Program(2)
Maximum Dollar
Value of Shares that
May Yet be
Purchased Under
the Program(2)
May 14–June 10, 2007 ............. 2,722 $55.72 2,722 $953,637
June 11–July 8, 2007 .............. 1,655 56.70 1,655 859,839
July 9–August 5, 2007 ............. 1,581 60.49 1,581 764,219
August 6–September 2, 2007 ....... 1,956 60.25 1,956 646,364
Total Fourth Quarter ........... 7,914 $58.00 7,914
(1) Monthly information is presented by reference to our fiscal periods during the fourth quarter of
fiscal 2007.
(2) Our stock repurchase program is conducted under authorizations made by our Board of Directors.
The amounts reported in the table above are covered by a Board authorization to repurchase
shares of common stock of $2 billion authorized in July 2006 and expiring in July 2009.
(3) Additional information regarding our stock repurchase program is provided in Note 5—
Stockholders’ Equity on pages 64 and 65 of this Annual Report.
Equity Compensation Plans
Information related to our equity compensation plans is incorporated herein by reference to the Proxy
Statement filed with the Securities and Exchange Commission. Also, see Note 6—Stock-Based
Compensation Plans on pages 65 through 69 of this Annual Report.
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