it was stated long ago by carol bartz that many of the shares repurchased are given to directors and employees as part of the compensation package. so in effect they are taking money out of the bank and putting it in their pockets. it's a nice deal.
These are from their 8k:
"Shares used in per share calculation - diluted.
Share in 2011: 1,282,282 mill. shares
Share in 2012: 1,202,906 mill. shares "
Also, according to their latest 8K- filing they have remaining 1,168,336 mill. share in fourth quarter. Thus this look close to 126mills have been bought i guess. Not sure based on what figure they used to do calculation.
They also said they bought back 2.2 bills . in fourth quarter, look like they have 1.3 billions remain for purchasing shares.