Home Depot 2013 Annual Report Download - page 21

Download and view the complete annual report

Please find page 21 of the 2013 Home Depot annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 66

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66

16
Issuer Purchases of Equity Securities
In the first quarter of fiscal 2013, the Board of Directors authorized a $17.0 billion share repurchase program. Through the
end of fiscal 2013, the Company has repurchased shares of its common stock having a value of approximately $8.5 billion
under this program. The number and average price of shares purchased in each fiscal month of the fourth quarter of fiscal
2013 are set forth in the table below:
Period Total Number of
Shares Purchased(1)
Average
Price Paid
Per Share(1)
Total Number of
Shares Purchased as
Part of Publicly
Announced Program(2)
Dollar Value of Shares
that May Yet Be
Purchased Under
the Program(2)
Nov. 4, 2013 – Dec. 1, 2013(3) 7,286,533 $ 78.20 7,272,171 $ 10,286,477,886
Dec. 2, 2013 – Dec. 29, 2013(4) 18,640,894 $ 79.44 18,633,586 $ 8,500,023,537
Dec. 30, 2013 – Feb. 2, 2014(4) 3,853,072 $ 79.55 3,848,006 $ 8,500,023,537
—————
(1) These amounts include repurchases pursuant to the Company’s 1997 and Amended and Restated 2005 Omnibus Stock
Incentive Plans (the "Plans"). Under the Plans, participants may surrender shares as payment of applicable tax
withholding on the vesting of restricted stock and deferred share awards. Participants in the Plans may also exercise
stock options by surrendering shares of common stock that the participants already own as payment of the exercise price.
Shares so surrendered by participants in the Plans are repurchased pursuant to the terms of the Plans and applicable
award agreement and not pursuant to publicly announced share repurchase programs.
(2) In the first quarter of fiscal 2013, the Board of Directors authorized a $17.0 billion share repurchase program that
replaced the previous authorization. The program does not have a prescribed expiration date.
(3) In the third quarter of fiscal 2013, the Company paid $1.5 billion under an Accelerated Share Repurchase ("ASR")
agreement and received an initial delivery of approximately 16.4 million shares. The transaction was completed in the
fourth quarter of fiscal 2013, with the Company receiving approximately 3.4 million additional shares to settle the
agreement. The Average Price Paid Per Share was calculated with reference to the average stock price of the Company's
common stock over the term of the ASR agreement. See Note 4 to the Consolidated Financial Statements included in this
report.
(4) In the fourth quarter of fiscal 2013, the Company paid $1.5 billion under an ASR agreement and received an initial
delivery of approximately 15.0 million shares. The transaction was completed in the fourth quarter of fiscal 2013, with
the Company receiving approximately 3.8 million additional shares to settle the agreement. The Average Price Paid Per
Share was calculated with reference to the average stock price of the Company's common stock over the term of the ASR
agreement. See Note 4 to the Consolidated Financial Statements included in this report.
In March 2014, the Company entered into an ASR agreement with a third-party financial institution to repurchase $950
million of the Company's common stock. See Note 4 to the Consolidated Financial Statements included in this report. Shares
received in connection with the ASR agreement will be reflected in the share repurchase table in future quarters.
Sales of Unregistered Securities
During the fourth quarter of fiscal 2013, the Company issued 485 deferred stock units under The Home Depot, Inc. Non-
Employee Directors' Deferred Stock Compensation Plan pursuant to the exemption from registration provided by Section 4
(a)(2) of the Securities Act of 1933, as amended (the "Securities Act") and Rule 506 of the SEC's Regulation D thereunder.
The deferred stock units were credited to the accounts of those non-employee directors who elected to receive board retainers
in the form of deferred stock units instead of cash during the fourth quarter of fiscal 2013. The deferred stock units convert to
shares of common stock on a one-for-one basis following a termination of service as described in this plan.
During the fourth quarter of fiscal 2013, the Company credited 32,531 deferred stock units to participant accounts under The
Home Depot FutureBuilder Restoration Plan pursuant to an exemption from the registration requirements of the Securities
Act for involuntary, non-contributory plans. The deferred stock units convert to shares of common stock on a one-for-one
basis following a termination of service as described in this plan.
Item 6. Selected Financial Data.
The information required by this item is incorporated by reference to page F-1 of this report.