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Stock-Based Compensation (Tables)
 12 Months Ended
Jan. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of stock-based compensation The following table provides total stock-based compensation recognized in the Consolidated Statements of Income for the fiscal years presented (in thousands):
2025 (1)
20242023
Restricted stock expense
$95,061 $43,130 $36,196 
Performance-based restricted stock expense28,605 27,557 19,053 
Stock option expense
1 314 2,036 
Total stock-based compensation expense$123,667 $71,001 $57,285 
Total related tax benefit$18,243 $12,768 $10,616 
(1)Includes $41.7 million of immediate expense from the acceleration of unvested equity awards following the termination of certain executives in connection with the Foot Locker acquisition, which was included within merger and integration costs on the Consolidated Statements of Income for the fiscal year ended January 31, 2026.
Schedule of nonvested restricted stock activity
Restricted stock activity for fiscal 2025 is presented in the following table:
Restricted Stock
SharesWeighted Average Grant Date Fair ValueIntrinsic Value
(in millions)
Nonvested, February 1, 2025998,356 $139.05 $239.7 
Foot Locker replacement equity (1)
452,896 223.83 
Granted345,579 210.87 
Vested (1)
(619,017)156.31 
Forfeited(54,623)160.31 
Nonvested, January 31, 20261,123,191 $184.79 $226.9 
(1)The total fair value of restricted stock issued to Foot Locker employees as part of the acquisition was $101.4 million, which was apportioned between purchase consideration, or $29.0 million attributable to pre-combination vesting, $41.7 million of immediate expense from the acceleration of unvested equity awards following the termination of certain executives and post-combination expense of $30.7 million. Of the 0.5 million restricted stock units issued for Foot Locker replacement equity, approximately 0.3 million units vested during 2025, including those that accelerated for certain executives, and approximately 0.2 million units were outstanding as of January 31, 2026.
Schedule of nonvested performance-based restricted stock activity
Performance-based restricted stock activity for fiscal 2025 is presented in the following table:
Performance-based Restricted Stock
UnitsWeighted Average Grant Date Fair ValueIntrinsic Value
(in millions)
Nonvested, February 1, 2025405,755 $147.82 $97.4 
Granted (1)
374,150 187.05 
Vested(244,657)129.42 
Forfeited(11,214)174.41 
Nonvested, January 31, 2026
524,034 $183.85 $105.9 
(1)Includes 40,562 awards with a weighted-average grant date fair value of $211.19 that were issued during fiscal 2025 based on the determination of actual performance criteria attainment of 157% for awards granted in fiscal 2024. These awards are expected to vest in fiscal 2027. Activity also includes 22,244 awards with a weighted-average grant date fair value of $148.70 that were issued during fiscal 2025 based on the determination of actual performance criteria attainment of 118% for awards granted in fiscal 2023. These awards vested in fiscal 2025.
Schedule of stock option activity
Fiscal 2025 stock option activity is presented in the following table:
Shares Subject to OptionsWeighted Average Exercise Price per ShareWeighted Average Remaining Contractual Life (Years)Aggregate Intrinsic Value (in millions)
Outstanding, February 1, 20251,343,213 $15.25 1.98$302.0 
Exercised(90,535)$16.72 
Outstanding, January 31, 20261,252,678 $15.14 0.98$234.1 
Exercisable, January 31, 20261,252,678 $15.14 0.98$234.1 
Vested or expected to vest, January 31, 20261,252,678 $15.14 0.98$234.1 
The following table presents stock option information for the last three fiscal years (in millions):
202520242023
Total intrinsic value of stock options exercised$17.3 $140.7 $69.2 
Income tax benefit from the exercise of stock options$1.3 $16.7 $13.7 
Total fair value of stock options vested$— $1.8 $3.3