Target 2006 Annual Report Download - page 27

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PART II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and
Issuer Purchases of Equity Securities.
Our common stock is listed on The New York Stock Exchange under the symbol ‘‘TGT.’’ We are
authorized to issue up to 6,000,000,000 shares of common stock, par value $.0833, and up to 5,000,000
shares of preferred stock, par value $.01. At March 14, 2007, there were 18,139 shareholders of record.
Dividends declared per share and the high and low closing common stock price for each fiscal quarter
during 2006 and 2005 are disclosed in Note 29.
The following table presents information with respect to purchases of Target common stock made
during the fourteen weeks ended February 3, 2007, by Target or any ‘‘affiliated purchaser’’ of Target, as
defined in Rule 10b-18(a)(3) under the Exchange Act.
Approximate
Total Number of Dollar Value of
Shares Purchased Shares that May
Total Number Average as Part of Yet Be Purchased
of Shares Price Paid Publicly Announced Under the
Period Purchased(b)(c) per Share(b) Program(a)(b)(c) Program(a)
October 29, 2006 through November 25,
2006 140,000 $41.75 70,813,275 $1,562,564,371
November 26, 2006 through December 30,
2006 — — 70,813,275 1,562,564,371
December 31, 2006 through February 3,
2007 231,569 53.02 71,044,844 1,550,285,850
Total 371,569 $48.77 71,044,844 $1,550,285,850
(a) In June 2004, our Board of Directors authorized the repurchase of $3 billion of our common stock. In November 2005, our Board increased
the aggregate authorization by $2 billion, for a total authorization of $5 billion. We expect to continue to execute this share repurchase
program primarily in open market transactions, subject to market conditions. We expect to complete the total program by fiscal year-end 2008
or sooner. Since the inception of this share repurchase program, we have repurchased a total of 71.0 million shares of our common stock for a
total cash investment of $3,450 million ($48.56 per share).
(b) In addition to shares purchased under our share repurchase program, we acquire shares of common stock held by team members who wish to
tender owned shares to satisfy the exercise price on stock option exercises or tax withholding on equity awards as part of our long-term
incentive plans. From October 29, 2006 through February 3, 2007, 1,683 shares were acquired at an average price of $59.41 pursuant to
our long-term incentive plans.
(c) Includes shares reacquired upon settlement of prepaid forward contracts. In 2006, 1.6 million shares were reacquired through these contracts.
The details of our long positions in prepaid forward contracts is provided in Note 27.
9
PART II