STOCK OPTION PLANS (Tables)

12 Months Ended

Jan. 31, 2015

STOCK OPTION PLANS

Summary of changes in stock options outstanding

	Shares subject to option (in millions)		Weighted- average exercise price
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
Granted	4.2		$	49.42
Exercised	(5.2	)	$	23.13
Canceled or Expired	(0.3	)	$	31.05
Outstanding, year-end 2014	20.4		$	31.13

Summary of options outstanding and exercisable

A summary of options outstanding and exercisable at January 31, 2015 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)
15.92 – 21.95	3.2	3.47	$	19.53	3.0	$	19.46
21.96 – 22.60	4.2	6.40	$	22.09	2.7	$	22.16
22.61 – 28.26	2.6	6.15	$	24.77	1.8	$	24.79
28.27 – 37.75	2.8	3.04	$	28.52	2.7	$	28.47
37.76 – 49.32	3.5	8.46	$	37.96	1.1	$	37.82
49.33 – 61.89	4.1	9.46	$	49.55	—	$	49.33
	20.4	6.41	$	31.13	11.3	$	24.92

Summary of changes in restricted stock outstanding

	Restricted shares outstanding (in millions)		Weighted-average grant-date fair value
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
Granted	3.1		$	49.51
Lapsed	(2.6	)	$	33.05
Canceled or Expired	(0.2	)	$	37.33
Outstanding, year-end 2014	5.1		$	42.08

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

	2014	2013	2012
Weighted average expected volatility	25.29%	26.34%	26.49%
Weighted average risk-free interest rate	2.06%	1.87%	0.97%
Expected dividend yield	1.51%	1.82%	2.49%
Expected term (based on historical results)	6.6 years	6.8 years	6.9 years