XML 32 R29.htm IDEA: XBRL DOCUMENT

Share-Based Compensation (Tables)

9 Months Ended

Oct. 31, 2015

Total compensation expense and the related tax benefits recognized

Total compensation expense included in SG&A, and the associated tax benefits recognized related to the Company’s share-based compensation plans were as follows:

	Thirteen weeks ended				Thirty-nine weeks ended
	October 31,		November 1,		October 31,		November 1,
	2015		2014		2015		2014
	($ in millions)
Options and shares purchased under the employee stock purchase plan	$	3	$	3	$	9	$	9
Restricted stock and restricted stock units		3		3		8		9
Total share-based compensation expense	$	6	$	6	$	17	$	18

Tax benefit recognized	$	3	$	1	$	6	$	5
Excess income tax benefit from settled equity-classified share-based awards reported as a cash flow from financing activities					$	33	$	11

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
	October 31,			November 1,			October 31,			November 1,
	2015			2014			2015			2014
Weighted-average risk free rate of interest		1.52	%		2.12	%		0.22	%		0.14	%
Expected volatility		30	%		39	%		24	%		24	%
Weighted-average expected award life		6.0 years			6.1 years			1.0 year			1.0 year
Dividend yield		1.61	%		2.0	%		1.7	%		2.0	%
Weighted-average fair value	$	16.07		$	14.91		$	10.20		$	7.11

Options Granted under Stock Option Plans

The information in the following table covers options granted under the Company’s stock option plans for the thirty-nine weeks ended October 31, 2015:

	Shares		Weighted- Average Term		Weighted-Average Exercise Price
	(in thousands, except price per share and weighted-average term)
Options outstanding at the beginning of the year		5,569			$	25.89
Granted		694				62.29
Exercised		(2,447)				25.64
Expired or cancelled		(55)				48.68
Options outstanding at October 31, 2015		3,761		6.3	$	32.44
Options exercisable at October 31, 2015		2,531		5.1	$	22.13
Options vested and expected to vest at October 31, 2015		3,720		6.3	$	32.17
Options available for future grant at October 31, 2015		13,037

Total Intrinsic Value of Options Exercised

The total intrinsic value of options exercised (the difference between the market price of the Company’s common stock on the exercise date and the price paid by the optionee to exercise the option) is presented below:

	Thirteen weeks ended				Thirty-nine weeks ended
	October 31,		November 1,		October 31,		November 1,
	2015		2014		2015		2014
	($ in millions)
Exercised	$	31	$	6	$	96	$	21

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable

The aggregate intrinsic value for stock options outstanding and for stock options exercisable (the difference between the Company’s closing stock price on the last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money stock options) is presented below:

	Thirty-nine weeks ended
	October 31,		November 1,
	2015		2014

	($ in millions)
Outstanding	$	133	$	170
Outstanding and exercisable	$	116	$	138
Vested and expected to vest	$	133	$	169

Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at October 31, 2015:

	Options Outstanding						Options Exercisable

			Weighted- Average		Weighted- Average				Weighted- Average
Range of Exercise	Number		Remaining		Exercise		Number		Exercise
Prices	Outstanding		Contractual Life		Price		Exercisable		Price

	(in thousands, except prices per share and contractual life)
$9.85 to $18.80		870		3.9	$	13.28		870	$	13.28
$18.84 to $24.75		899		4.8	$	19.81		899	$	19.81
$30.92 to $36.59		790		6.7	$	32.84		616	$	32.44
$45.08 to $73.21		1,202		8.9	$	55.47		146	$	45.70
		3,761		6.3	$	32.44		2,531	$	22.13

Restricted Share and Unit Activity

Restricted stock and RSU activity for the thirty-nine weeks ended October 31, 2015 is summarized as follows:

			Weighted-Average
			Grant Date Fair
	Number of Shares		Value per Share

	(in thousands, except price per share)
Nonvested at the beginning of the year		1,038	$	37.96
Granted		154		63.72
Vested		(312)		32.33
Expired or cancelled		(68)		37.97
Nonvested at October 31, 2015		812	$	45.02
Aggregate value ($ in millions)	$	37
Weighted-average remaining contractual life (in years)		1.1 years