STOCK OPTION PLANS (Tables)

12 Months Ended

Jan. 28, 2023

STOCK-BASED COMPENSATION

Summary of changes in stock options outstanding

	Shares	Weighted-
	subject	average
	to option	exercise
	(in millions)	price
Outstanding, year-end 2019	32.2	$	24.52
Granted	2.9	$	29.31
Exercised	(7.3)	$	17.72
Canceled or Forfeited	(1.0)	$	30.53
Outstanding, year-end 2020	26.8	$	26.65
Granted	2.1	$	35.45
Exercised	(7.1)	$	24.70
Canceled or Forfeited	(0.7)	$	28.88
Outstanding, year-end 2021	21.1	$	28.15
Granted	1.2	$	56.13
Exercised	(5.4)	$	26.02
Canceled or Forfeited	(0.3)	$	31.54
Outstanding, year-end 2022	16.6	$	30.81

Summary of options outstanding, exercisable and expected to vest

		Weighted-average			Aggregate
		remaining	Weighted-average		intrinsic
	Number of shares	contractual life	exercise price		value
	(in millions)	(in years)			(in millions)
Options Outstanding	16.6	5.08	$	30.81	$	250
Options Exercisable	12.3	4.07	$	28.29	$	205
Options Expected to Vest	4.3	7.89	$	37.77	$	44

Summary of changes in restricted stock outstanding

	Restricted
	shares	Weighted-average
	outstanding	grant-date
	(in millions)	fair value
Outstanding, year-end 2019	9.3	$	24.85
Granted	4.0	$	31.99
Lapsed	(4.9)	$	24.69
Canceled or Forfeited	(0.6)	$	26.71
Outstanding, year-end 2020	7.8	$	28.46
Granted	3.9	$	37.29
Lapsed	(4.0)	$	29.58
Canceled or Forfeited	(0.5)	$	31.31
Outstanding, year-end 2021	7.2	$	32.52
Granted	3.0	$	50.50
Lapsed	(4.0)	$	32.16
Canceled or Forfeited	(0.4)	$	38.32
Outstanding, year-end 2022	5.8	$	41.76

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

	2022		2021		2020
Weighted average expected volatility	30.47	%	28.52	%	26.96	%
Weighted average risk-free interest rate	2.09	%	1.21	%	0.82	%
Expected dividend yield	1.82	%	2.00	%	2.00	%
Expected term (based on historical results)	7.2	years	7.2	years	7.2	years