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Shareholders' Equity (Tables)
 12 Months Ended
Feb. 01, 2020
Shareholders' Equity [Abstract]  
Stock-based compensation expense

2020

2019

2018

Stock options

$

7 

$

3 

$

6 

Share awards:

Market-based

13 

15 

19 

Performance-based

28 

20 

13 

Time-based

95 

85 

91 

Total

$

143 

$

123 

$

129 
Stock option activity

Stock Options

Weighted-Average
‎Exercise Price per Share

Weighted-Average
‎Remaining Contractual Term (in years)

Aggregate
‎Intrinsic Value
‎(in millions)

Outstanding at February 2, 2019

2,358 

$

33.47 

Granted

719 

$

69.17 

Exercised

(1,461)

$

27.92 

Outstanding at February 1, 2020

1,616 

$

54.38 

6.9 

$

49 

Vested or expected to vest at February 1, 2020

1,616 

$

54.38 

6.9 

$

49 

Exercisable at February 1, 2020

712 

$

38.29 

4.3 

$

33 
Black Scholes valuation model assumptions

Valuation Assumptions

2020

2019

2018

Risk-free interest rate(1)

1.9 

%

-

2.5 

%

1.9

%

-

2.8 

%

0.9 

%

-

2.6 

%

Expected dividend yield

2.9 

%

2.7 

%

3.0 

%

Expected stock price volatility(2)

36 

%

39 

%

38 

%

Expected life of stock options (in years)(3)

7.4 

6.5 

6.0 

(1)Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of our stock options

(2)In projecting expected stock price volatility, we consider both the historical volatility of our stock price as well as implied volatilities from exchange-traded options on our stock.

(3)We estimate the expected life of stock options based upon historical experience.
Summary of the status of nonvested market-based share awards

Market-Based Share Awards

Shares

Weighted-Average Fair Value per Share

Outstanding at February 2, 2019

1,187 

$

40.07 

Granted

584 

$

72.90 

Vested

(1,025)

$

29.90 

Forfeited/canceled

(54)

$

58.96 

Outstanding at February 1, 2020

692 

$

59.84 
Summary of the status of nonvested time-based share awards

Time-Based Share Awards

Shares

Weighted-Average Fair Value per Share

Outstanding at February 2, 2019

4,098 

$

47.13 

Granted

1,880 

$

68.80 

Vested

(1,868)

$

45.01 

Forfeited/canceled

(258)

$

62.23 

Outstanding at February 1, 2020

3,852 

$

57.81 
Summary of the status of nonvested performance-based share awards

Performance-Based Share Awards

Shares

Weighted-Average Fair Value per Share

Outstanding at February 2, 2019

819 

$

52.78 

Granted

516 

$

68.90 

Vested

(274)

$

42.08 

Forfeited/canceled

(108)

$

59.80 

Outstanding at February 1, 2020

953 

$

63.82 
Summary of stock options outstanding

Exercisable

Unexercisable

Total

Shares

%

Weighted-
‎Average Price
‎per Share

Shares

%

Weighted-
‎Average Price
‎per Share

Shares

%

Weighted-
‎Average Price
‎per Share

In-the-money

0.7 

100 

%

$

38.29 

0.9 

100 

%

$

67.04 

1.6 

100 

%

$

54.38 
Reconciliation of the numerators and denominators of basic and diluted earnings per share

2020

2019

2018

Numerator

Net earnings from continuing operations

$

1,541 

$

1,464 

$

999 

Denominator

Weighted-average common shares outstanding

264.9 

276.4 

300.4 

Effect of potentially dilutive securities:

Stock options and other

3.2 

5.0 

6.7 

Weighted-average common shares outstanding, assuming dilution

268.1 

281.4 

307.1 

Anti-dilutive securities excluded from Weighted-average common shares outstanding, assuming dilution

0.8 

0.2 

-

Net earnings per share from continuing operations

Basic

$

5.82 

$

5.30 

$

3.33 

Diluted

$

5.75 

$

5.20 

$

3.26 
Schedule of share repurchases

2020

2019

2018

Total cost of shares repurchased

$

1,009 

$

1,493 

$

2,009 

Average price per share

$

72.34 

$

70.28 

$

57.16 

Number of shares repurchased and retired

14.0 

21.2 

35.1