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Stock-Based Compensation and Employee Stock Plans (Tables)
 12 Months Ended
Feb. 02, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation
The following represents total stock-based compensation recognized in the Consolidated Statements of Income for the fiscal years presented (in thousands):
 
2018
 
2017
 
2016
Stock option expense
$
7,147

 
$
8,686

 
$
9,506

Restricted stock expense
34,794

 
27,553

 
24,096

Total stock-based compensation expense
$
41,941

 
$
36,239

 
$
33,602

Total related tax benefit
$
9,104

 
$
12,130

 
$
11,718

 
 
 
 
 
 
Schedule of assumptions used to estimate the fair value of stock-based awards to employees
The fair value of stock-based awards to employees is estimated on the date of grant using the Black-Scholes valuation with the following assumptions:
 
Employee Stock Option Plans
Black-Scholes Valuation Assumptions
2018
 
2017
 
2016
Expected life (years) (1)
5.20

 
5.47

 
5.40

Expected volatility (2)
33.15% - 37.41%

 
29.24% - 33.86%

 
29.20% - 31.93%

Weighted average volatility
34.61
%
 
30.52
%
 
31.01
%
Risk-free interest rate (3)
2.55% - 3.04%

 
1.70% - 2.25%

 
1.07% - 1.90%

Expected dividend yield
2.40% - 2.82%

 
1.30% - 2.78%

 
1.03% - 1.59%

Weighted average grant date fair value
$
9.02

 
$
11.98

 
$
12.56



(1) 
The expected term of the options represents the estimated period of time until exercise and is based on historical experience of similar awards giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior.

(2) 
Expected volatility is based on the historical volatility of the Company's common stock over a time frame consistent with the expected life of the stock options.

(3) 
The risk-free interest rate is based on the implied yield available on U.S. Treasury constant maturity interest rates whose term is consistent with the expected life of the stock options.
Schedule of stock option activity
The stock option activity from January 30, 2016 through February 2, 2019 is presented in the following table:
 
Shares Subject to Options
 
Weighted Average Exercise Price per Share
 
Weighted Average Remaining Contractual Life (Years)
 
Aggregate Intrinsic Value (in thousands)
Outstanding, January 30, 2016
3,974,512

 
$
38.29

 
2.94
 
$
51,930

Granted
1,143,326

 
47.79

 
 
 
 
Exercised
(1,348,241
)
 
22.28

 
 
 
 
Forfeited / Expired
(208,512
)
 
50.01

 
 
 
 
Outstanding, January 28, 2017
3,561,085

 
$
46.71

 
3.88
 
$
22,638

Granted
786,246

 
45.28

 
 
 
 
Exercised
(582,022
)
 
28.43

 
 
 
 
Forfeited / Expired
(635,360
)
 
50.60

 
 
 
 
Outstanding, February 3, 2018
3,129,949

 
$
48.97

 
4.08
 
$
389

Granted
881,334

 
34.18

 
 
 
 
Forfeited / Expired
(880,856
)
 
45.96

 
 
 
 
Outstanding, February 2, 2019
3,130,427

 
$
45.65

 
4.07
 
$
1,783

Exercisable, February 2, 2019
1,511,580

 
$
50.53

 
2.65
 
$
184

Vested and expected to vest, February 2, 2019
2,917,529

 
$
46.22

 
3.95
 
$
1,486
Schedule of nonvested stock option activity
The nonvested stock option activity for the year ended February 2, 2019 is presented in the following table:
 
Shares Subject to Options
 
Weighted Average Grant Date Fair Value
Nonvested, February 3, 2018
1,650,991

 
$
13.29

Granted
881,334

 
9.02

Vested
(572,972
)
 
14.13

Forfeited
(340,506
)
 
11.29

Nonvested, February 2, 2019
1,618,847

 
$
11.09

 
 
 
 
Schedule of stock options outstanding and exercisable by range of exercise prices
Additional information regarding options outstanding as of February 2, 2019 is as follows:
 
 
Options Outstanding
 
Options Exercisable
Range of
Exercise Prices
 
Shares
 
Weighted Average Remaining Contractual Life (Years)
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
$24.48 - $34.05
 
830,465

 
6.18
 
$
33.10

 
26,660

 
$
28.35

$35.22 - $47.09
 
945,577

 
3.41
 
46.07

 
589,971

 
46.49

$47.73 - $55.29
 
932,936

 
3.26
 
50.62

 
583,454

 
51.41

$55.49 - $58.86
 
421,449

 
3.23
 
58.44

 
311,495

 
58.41

$24.48 - $58.86
 
3,130,427

 
4.07
 
$
45.65

 
1,511,580

 
$
50.53

 
 
 
 
 
 
 
 
 
 
 
Schedule of nonvested restricted stock activity
The restricted stock activity from January 30, 2016 through February 2, 2019 is presented in the following table:
 
Shares
 
Weighted Average Grant Date Fair Value
Nonvested, January 30, 2016
2,204,980

 
$
50.97

Granted
789,460

 
47.89

Vested
(438,160
)
 
47.05

Forfeited
(196,240
)
 
51.23

Nonvested, January 28, 2017
2,360,040

 
$
50.64

Granted
2,228,573

 
41.47

Vested
(359,956
)
 
54.13

Forfeited
(624,420
)
 
49.38

Nonvested, February 3, 2018
3,604,237

 
$
44.84

Granted
1,616,600

 
33.96

Vested
(549,293
)
 
49.88

Forfeited
(1,213,927
)
 
45.05

Nonvested, February 2, 2019
3,457,617

 
$
38.88