Stock-based Compensation (Tables)

6 Months Ended

Feb. 01, 2020

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Total Compensation Expense and Associated Income Tax Benefit

A summary of the total compensation expense and associated income tax benefit recognized related to stock-based compensation arrangements on a consolidated basis is as follows:

	Three Months Ended				Six Months Ended
	February 1, 2020		February 2, 2019		February 1, 2020		February 2, 2019
	(millions)				(millions)
Compensation expense	$	0.8	$	3.6	$	2.4	$	8.3
Income tax benefit	$	—	$	0.7	$	—	$	1.7

Weighted-Average Assumptions used to Estimate Fair Value of Stock Options Granted

The Company’s weighted-average assumptions used to estimate the fair value of stock options granted during the periods presented were as follows:

	Six Months Ended
	February 1, 2020			February 2, 2019
Expected term (years)	5.2			5.2
Expected volatility	61.6		%	47.5		%
Risk-free interest rate	1.6		%	2.9		%
Expected dividend yield	—		%	—		%
Weighted-average grant date fair value	$	2.75		$	35.65

Summary of Stock Option Activity under all Plans

A summary of the stock option activity under the service-based plans during the six months ended February 1, 2020 is as follows:

	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Terms	Aggregate Intrinsic Value (a)
	(thousands)				(years)	(millions)
Options outstanding – August 3, 2019	850.4		$	156.00	4.1	$	—
Granted	274.6		5.13
Exercised	—		—
Canceled/Forfeited	(378.3	)	185.56
Options outstanding – February 1, 2020	746.7		$	85.54	4.9	$	—
Options vested and expected to vest at February 1, 2020(b)	707.4		$	89.98	4.9	$	—
Options exercisable at February 1, 2020	402.3		$	139.70	3.8	$	—

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^(a)  The intrinsic value is the amount by which the market price at the end of the period of the underlying share of stock exceeds the exercise price of the stock option.

^(b)  The number of options expected to vest takes into consideration estimated expected forfeitures.

Summary of Restricted Equity Awards Activity

A summary of restricted equity awards activity during the six months ended February 1, 2020 is as follows:

	Service-based Restricted Equity Awards
	Number of Shares		Weighted- Average Grant Date Fair Value Per Share
	(thousands)
Nonvested at August 3, 2019	67.4		$	91.42
Granted	—		—
Vested	(28.0	)	113.32
Canceled/Forfeited	(7.5	)	89.03
Nonvested at February 1, 2020	31.9		$	72.78