|9 Months Ended|
Nov. 02, 2019
12. Share Repurchases
In March 2013, our Board of Directors (the “Board”) approved a share repurchase program for our common stock. During the third quarter of 2019, we repurchased 2,336,852 shares through open market repurchases at a cost of $10.0 million for an average price of $4.28 per share. At November 2, 2019, the remaining balance available under the Board’s authorization was $38.0 million. No shares were repurchased during 2018.
Share repurchases are accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock.
The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef