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STOCK OPTION PLANS (Tables)
 12 Months Ended
Feb. 01, 2014
STOCK OPTION PLANS  
Summary of changes in stock options outstanding

 

 

 

Shares
subject
to option
(in millions)

 

Weighted-
average
exercise
price

 

Outstanding, year-end 2010

 

35.9

 

$

21.45

 

Granted

 

3.9

 

$

24.69

 

Exercised

 

(5.9

)

$

20.28

 

Canceled or Expired

 

(2.9

)

$

24.43

 

 

 

 

 

 

 

Outstanding, year-end 2011

 

31.0

 

$

21.80

 

Granted

 

4.1

 

$

22.04

 

Exercised

 

(6.7

)

$

18.35

 

Canceled or Expired

 

(1.9

)

$

23.28

 

 

 

 

 

 

 

Outstanding, year-end 2012

 

26.5

 

$

22.61

 

Granted

 

4.2

 

$

37.68

 

Exercised

 

(8.8

)

$

22.22

 

Canceled or Expired

 

(0.2

)

$

25.47

 

 

 

 

 

 

 

Outstanding, year-end 2013

 

21.7

 

$

25.66

 
Summary of options outstanding and exercisable

A summary of options outstanding and exercisable at February 1, 2014 follows:

 

Range of Exercise Prices

 

Number
outstanding

 

Weighted-
average
remaining
contractual life

 

Weighted-
average
exercise price

 

Options
exercisable

 

Weighted-average
exercise price

 

 

 

(in millions)

 

(in years)

 

 

 

(in millions)

 

 

 

$13.78 - $18.57

 

2.1

 

0.99

 

$

16.62

 

2.1

 

$

16.62

 

$18.58 - $20.97

 

3.6

 

4.80

 

$

20.09

 

2.9

 

$

20.06

 

$20.98 - $23.37

 

5.2

 

7.28

 

$

22.11

 

2.6

 

$

22.21

 

$23.38 - $28.17

 

3.1

 

7.22

 

$

24.82

 

1.6

 

$

24.89

 

$28.18 - $32.97

 

3.6

 

4.01

 

$

28.51

 

3.5

 

$

28.44

 

$32.98 - $40.99

 

4.1

 

9.44

 

$

37.81

 

—

 

$

37.76

 

$13.78 - $40.99

 

21.7

 

6.12

 

$

25.66

 

12.7

 

$

22.88

 
Summary of changes in restricted stock outstanding

 

 

 

Restricted
shares
outstanding
(in millions)

 

Weighted-average
grant-date
fair value

 

Outstanding, year-end 2010

 

4.4

 

$

22.39

 

Granted

 

2.5

 

$

24.63

 

Lapsed

 

(2.5

)

$

21.96

 

Canceled or Expired

 

(0.2

)

$

23.80

 

 

 

 

 

 

 

Outstanding, year-end 2011

 

4.2

 

$

23.92

 

Granted

 

2.6

 

$

22.23

 

Lapsed

 

(2.4

)

$

24.34

 

Canceled or Expired

 

(0.1

)

$

23.28

 

 

 

 

 

 

 

Outstanding, year-end 2012

 

4.3

 

$

22.67

 

Granted

 

3.2

 

$

37.69

 

Lapsed

 

(2.5

)

$

22.97

 

Canceled or Expired

 

(0.1

)

$

27.31

 

 

 

 

 

 

 

Outstanding, year-end 2013

 

4.8

 

$

32.31

 
Summary of weighted average assumptions used for grants awarded to option holders

 

 

 

2013

 

2012

 

2011

 

Weighted average expected volatility

 

26.34

%

26.49

%

26.31

%

Weighted average risk-free interest rate

 

1.87

%

0.97

%

2.16

%

Expected dividend yield

 

1.82

%

2.49

%

1.90

%

Expected term (based on historical results)

 

6.8 years

 

6.9 years

 

6.9 years