Walmart 2015 Annual Report Download - page 47

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45
2015 Annual Report
The following table shows the activity for restricted stock and performance share units and restricted stock units during fiscal 2015:
Restricted Stock and
Performance Share Units
(1)
Restricted Stock Units
Weighted-Average Weighted-Average
Grant-Date Grant-Date
Fair Value Fair Value
(Shares in thousands) Shares Per Share Shares Per Share
Outstanding at February 1, 2014 9,951 $63.26 17,785 $55.87
Granted 3,328 75.30 5,671 69.39
Vested/exercised (2,799) 55.64 (4,554) 47.81
Forfeited or expired (1,757) 62.35 (1,334) 61.63
Outstanding at January 31, 2015 8,723 $68.89 17,568 $61.00
(1) Assumes payout rate at 100% for Performance Share Units.
The following table includes additional information related to restricted
stock and performance share units and restricted stock units:
Fiscal Years Ended January 31,
(Amounts in millions) 2015 2014 2013
Fair value of restricted stock and
performance share units vested $156 $116 $155
Fair value of restricted stock units vested 218 189 168
Unrecognized compensation cost
for restricted stock and
performance share units 154 200 233
Unrecognized compensation cost
for restricted stock units 570 497 437
Weighted average remaining period
to expense for restricted stock and
performance share units (years) 1.3 2.0 2.0
Weighted average remaining period
to expense for restricted stock
units (years) 1.7 2.1 1.7
Share Repurchase Program
From time to time, the Company repurchases shares of its common stock
under share repurchase programs authorized by the Board of Directors.
On June 6, 2013, the Company’s Board of Directors replaced the previous
$15.0 billion share repurchase program, which had approximately
$712 million of remaining authorization for share repurchases as of that
date, with a new $15.0 billion share repurchase program, which was
announced on June 7, 2013. As was the case with the replaced share
repurchase program, the current share repurchase program has no
expiration date or other restrictions limiting the period over which the
Company can make share repurchases. At January 31, 2015, authorization
for $10.3 billion of share repurchases remained under the current share
repurchase program. Any repurchased shares are constructively retired
and returned to an unissued status.
The Company considers several factors in determining when to execute
share repurchases, including, among other things, current cash needs,
capacity for leverage, cost of borrowings, its results of operations and
the market price of its common stock. The following table provides, on a
settlement date basis, the number of shares repurchased, average price
paid per share and total cash paid for share repurchases for fiscal 2015,
2014 and 2013:
Fiscal Years Ended January 31,
(Amounts in millions, except per share data) 2015 2014 2013
Total number of shares repurchased 13.4 89.1 113.2
Average price paid per share $75.82 $74.99 $67.15
Total cash paid for share repurchases $1,015 $6,683 $7,600
Notes to Consolidated Financial Statements