Share Repurchases

12 Months Ended

Feb. 01, 2014

Equity [Abstract]

Share Repurchases

NOTE 12—SHARE REPURCHASES

Certain options and awards granted under the Company’s equity plans contain a repurchase right, which may be exercised at the Company’s discretion in the event of the termination of an employee’s employment with the Company. During fiscal 2013, the Company repurchased 40,353 shares of common stock from former employees pursuant to such repurchase right. The shares were repurchased for fair value at a weighted-average price of $67.16 per share and were settled with the issuance of promissory notes bearing interest at 5%, paid annually, with principal due at the end of a 10-year term. As of February 1, 2014, the aggregate unpaid principal amount of the promissory notes was $2.7 million, which is included in other long-term obligations on the consolidated balance sheets.