Stock-Based Compensation (Tables)

12 Months Ended

Jan. 29, 2021

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation and Related Tax Benefits

Stock-based compensation expense and related tax benefits recognized under the Plans were:

	Year Ended
	January 29, 2021		January 31, 2020		February 1, 2019
	(in millions)
Stock-based compensation expense:
Stock options	$	3	$	4	$	3
Vesting stock awards	32		29		37
Performance share awards	7		4		5
Total stock-based compensation expense	$	42	$	37	$	45
Tax benefits recognized from stock-based compensation	$	14	$	13	$	20

Stock Option Activity

Stock option activity for the year ended January 29, 2021 was:

	Shares of stocks under stock options	Weighted-average exercise price		Weighted-average remaining contractual term	Aggregate intrinsic value
	(in millions)			(in years)	(in millions)
Outstanding at January 31, 2020	0.7	$	60.47	3.5	$	20
Options granted	0.2	74.57
Options forfeited or expired	—	—
Options exercised	(0.2)	40.82
Outstanding at January 29, 2021	0.7	$	68.57	3.9	$	20
Options exercisable at January 29, 2021	0.5	$	64.91	2.8	$	14
Vested and expected to vest as of January 29, 2021	0.7	$	68.48	3.8	$	19

Schedule of Share-Based Compensation Activity Related to Exercise of Stock Options

The following table summarizes activity related to exercises of stock options:

	Year Ended
	January 29, 2021		January 31, 2020		February 1, 2019
	(in millions)
Cash received from exercises of stock options	$	—	$	—	$	—
Stock exchanged at fair value upon exercises of stock options	$	1	$	2	$	1
Tax benefits from exercises of stock options	$	2	$	3	$	7
Total intrinsic value of options exercised	$	8	$	16	$	24

Weighted Average Grant Date Fair Value and Assumptions Used to Determine Fair Value of Stock Options Granted

The weighted-average grant date fair value and assumptions used to determine the fair value of stock options granted for the periods presented were:

	Year Ended
	January 29, 2021			January 31, 2020			February 1, 2019
Weighted-average grant-date fair value	$	17.54		$	16.88		$	19.48
Expected term (in years)	3.8			4.2			4.0
Expected volatility	35.5		%	30.0		%	29.0		%
Risk-free interest rate	0.3		%	2.2		%	2.5		%
Dividend yield	1.8		%	2.0		%	1.6		%

Vesting Stock Award Activity

Vesting stock award activity for the year ended January 29, 2021 was:

	Shares of stock under stock awards	Weighted-average grant date fair value
	(in millions)
Unvested January 31, 2020	0.9	$	74.94
Awards granted	0.6	76.41
Awards forfeited	(0.1)	75.34
Awards vested	(0.4)	72.64
Unvested January 29, 2021	1.0	$	76.73

Performance Share Award Activity

Performance share award activity for the year ended January 29, 2021 was:

	Shares of stock under performance shares	Weighted-average grant date fair value
	(in millions)
Unvested performance shares at January 31, 2020	0.1	$	81.60
Performance shares granted	0.1	74.40
Performance shares forfeited	—	—
Performance shares vested	—	—
Performance shares adjustment	—	—
Unvested performance shares at January 29, 2021	0.2	$	76.54