Share-Based Compensation (Tables)

3 Months Ended

May 04, 2013

Assumptions used to Compute Share-Based Compensation Expense

The following table shows the Company’s assumptions used to compute the share-based compensation expense:

	Stock Option Plans						Stock Purchase Plan
	May 4,			April 28,			May 4,			April 28,
	2013			2012			2013			2012
Weighted-average risk free rate of interest		1.02	%		1.50	%		0.22	%		0.21	%
Expected volatility		42	%		43	%		40	%		35	%
Weighted-average expected award life		6.0 years			5.5 years			1.0 year			1.0 year
Dividend yield		2.3	%		2.3	%		2.4	%		2.7	%
Weighted-average fair value	$	10.98		$	10.14		$	6.66		$	4.90

Options Granted under Stock Option Plans

The information in the following table covers options granted under the Company’s stock option plans for the thirteen weeks ended May 4, 2013:

(in thousands, except price per share and weighted-average term)	Shares			Weighted- Average Term		Weighted- Average Exercise Price
Options outstanding at the beginning of the year		5,907				$	19.93
Granted		1,126					34.24
Exercised		(346	)				17.78
Expired or cancelled		(19	)				24.68
Options outstanding at May 4, 2013		6,668			6.90	$	22.44
Options exercisable at May 4, 2013		4,418			5.74	$	18.61
Options available for future grant at May 4, 2013		3,621

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable

	Thirteen weeks ended
	May 4,		April 28,
Intrinsic value of stock options (in millions)	2013		2012
Exercised	$	5	$	11
Outstanding	$	86	$	79
Outstanding and exercisable	$	74	$	58

Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at May 4, 2013:

				Options Outstanding						Options Exercisable
Range of Exercise Prices				Number Outstanding		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Number Exercisable		Weighted- Average Exercise Price
(in thousands, except price per share and contractual life)
$	9.85	$	15.10		1,988		6.36	$	12.76		1,988	$	12.76
$	15.74	$	23.42		1,763		6.82	$	19.72		1,295	$	20.02
$	23.63	$	30.92		1,782		5.66	$	28.42		1,135	$	27.27
$	31.79	$	35.50		1,135		9.90	$	34.24		—	$	—
$	9.85	$	35.50		6,668		6.90	$	22.44		4,418	$	18.61

Changes in Nonvested Options

Changes in the Company’s nonvested options for the thirteen weeks ended May 4, 2013 are summarized as follows:

(in thousands, except price per share)	Number of Shares			Weighted- Average Grant Date Fair Value per Share
Nonvested at the beginning of the year		2,314		$	23.18
Granted		1,126			34.24
Vested		(1,171	)		20.77
Expired or cancelled		(19	)		24.68
Nonvested at May 4, 2013		2,250		$	29.95

Restricted Shares and Units Activity

Restricted shares and units activity for the thirteen weeks ended May 4, 2013 and April 28, 2012 is summarized as follows:

	Number of Shares and Units
(in thousands)	May 4, 2013			April 28, 2012
Outstanding at beginning of period		1,564			2,068
Granted		326			244
Vested		(460	)		(460	)
Cancelled or forfeited		(12	)		—
Outstanding at end of period		1,418			1,852
Aggregate value (in millions)	$	35		$	33
Weighted-average remaining contractual life		1.34 years			1.44 years