v3.26.1
Stockholders' Equity
 6 Months Ended
Jul. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity Stockholders’ Equity
Stock option activity for the six months ended July 31, 2026 was as follows:
Options Outstanding
Outstanding
Stock
Options
(in millions)		Weighted-
Average
Exercise Price		Aggregate
Intrinsic Value (in millions)
Balance as of January 31, 20266 $207.54 
Options granted under all plans1 180.69 
Balance as of July 31, 20267 $205.71 $93 
Vested or expected to vest7 $206.24 $90 
Exercisable as of July 31, 20265 $206.19 $58 
Restricted stock activity for the six months ended July 31, 2026 was as follows:
Restricted Stock Outstanding
Outstanding
(in millions)		Weighted Average Grant Date Fair ValueAggregate
Intrinsic
Value (in millions)
Balance as of January 31, 202626 $265.64 
Granted - restricted stock units and awards22 191.68 
Granted - performance-based restricted stock units1 204.63 
Canceled(3)249.56 
Vested and converted to shares(7)254.19 
Balance as of July 31, 202639 $224.79 $7,144 
Expected to vest33 $6,088 
The aggregate expected stock-based compensation expense remaining to be recognized as of July 31, 2026 was as follows (in millions):
Fiscal Period:
Remaining six months of fiscal 2027$1,955 
Fiscal 20282,918 
Fiscal 20292,052 
Fiscal 20301,235 
Fiscal 2031164 
Total stock-based compensation expense$8,324 
The aggregate expected stock-based compensation expense remaining to be recognized reflects only outstanding stock awards as of July 31, 2026 and assumes no forfeiture activity and no changes in the expected level of attainment of performance share grants based on the Company’s financial performance relative to certain targets.
Share Repurchase Program
The Company’s Board of Directors (the “Board”) authorized a program to repurchase shares of the Company's common stock (the "Share Repurchase Program"), which commenced in August 2022. In February 2026, the Board authorized $50.0 billion in share repurchases under the Share Repurchase Program, which is inclusive of the accelerated share repurchase described below and replaces the previous remaining unpurchased authorization. The Share Repurchase Program does not have a fixed expiration date and does not obligate the Company to acquire any specific number of shares. Under the Share Repurchase Program, shares of common stock may be repurchased using a variety of methods, including privately negotiated and or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as part of accelerated share repurchases and other methods. The timing, manner, price and amount of any repurchases are determined by the Company in its discretion and depend on a variety of factors, including legal requirements, price and economic and market conditions. The Company accounts for treasury stock under the cost method.
In March 2026, the Company entered into accelerated share repurchase agreements (the “ASR Agreements”) with several financial institutions to repurchase an aggregate $25.0 billion of its common stock. Pursuant to the terms of the ASR Agreements, the Company made up-front payments totaling $25.0 billion and received an initial delivery of approximately 103 million shares of its common stock at an average price per share of $198.34. The initial share delivery represented approximately 80 percent of the total shares expected to be repurchased under the ASR Agreements. During the first quarter of fiscal 2027, the Company recorded $20.6 billion to treasury stock for the cost of the delivered shares as well as associated fees and excise taxes. A $4.6 billion reduction to additional paid-in capital was recorded for the unsettled portion of the ASR Agreements as forward contract components classified within stockholders’ equity. The final settlement of each transaction under the ASR agreements is expected to occur in the third quarter of fiscal 2027.
In addition to share repurchases under the ASR Agreements, the Company repurchased the following shares of its common stock in the open market, (in millions, except average price per share):
20262025
SharesAverage price per shareAmountSharesAverage price per shareAmount
Three months ended April 3011 $192.00 $2,145 10 $273.42 $2,681 
Three months ended July 310 $— $0 8 $269.96 $2,199 
As of July 31, 2026, the Company was authorized to purchase a remaining $22.9 billion of its common stock under the Share Repurchase Program.
Dividends
The Company announced the following dividends:
Record DatePayment DateDividend per ShareAmount
(in millions)
Fiscal 2027
Three months ended April 30, 2026April 9, 2026April 23, 2026$0.440 $374 
Three months ended July 31, 2026June 11, 2026July 2, 2026$0.440 $373 
Fiscal 2026
Three months ended April 30, 2025April 10, 2025April 24, 2025$0.416 $406 
Three months ended July 31, 2025June 18, 2025July 10, 2025$0.416 $404