Share-Based Compensation (Tables)
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9 Months Ended |
Oct. 31, 2015 |
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| Schedule of Stock Option Activity |
The following table summarizes stock option activity for the thirty-nine weeks ended October 31, 2015: | | | | | | | | | | | | | | | Number of Underlying Shares | | Weighted-Average Exercise Price | | Aggregate Intrinsic Value | | Weighted-Average Remaining Contractual Life | Outstanding at January 31, 2015 | 328,100 |
| | $ | 64.64 |
| | | | | Granted | — |
| | — |
| | | | | Exercised | — |
| | — |
| | | | | Forfeited or expired | (34,300 | ) | | 69.71 |
| | | | | Outstanding at October 31, 2015 | 293,800 |
| | $ | 64.05 |
| | $ | — |
| | 1.9 | Stock options exercisable at October 31, 2015 | 293,800 |
| | $ | 64.05 |
| | $ | — |
| | 1.9 |
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| Schedule of Stock Appreciation Rights Activity |
The following table summarizes stock appreciation rights activity for the thirty-nine weeks ended October 31, 2015: | | | | | | | | | | | | | | | Number of Underlying Shares | | Weighted-Average Exercise Price | | Aggregate Intrinsic Value | | Weighted-Average Remaining Contractual Life | Outstanding at January 31, 2015 | 8,953,675 |
| | $ | 40.28 |
| | | | | Granted | 709,758 |
| | 21.90 |
| | | | | Exercised | — |
| | — |
| | | | | Forfeited or expired | (165,150 | ) | | 39.70 |
| | | | | Outstanding at October 31, 2015 | 9,498,283 |
| | $ | 38.92 |
| | $ | — |
| | 2.3 | Stock appreciation rights exercisable at October 31, 2015 | 8,326,609 |
| | $ | 40.31 |
| | $ | — |
| | 1.4 | Stock appreciation rights expected to become exercisable in the future as of October 31, 2015 | 1,039,928 |
| | $ | 29.31 |
| | $ | — |
| | 8.9 |
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| Schedule of Weighted-Average Estimated Fair Value and Assumptions of Stock Appreciation Rights |
The weighted-average assumptions used in the Black-Scholes option-pricing model for stock appreciation rights granted during the thirty-nine weeks ended October 31, 2015 and November 1, 2014, were as follows: | | | | | | | | | | | | | | | | | | Executive Officers | | All Other Associates | | October 31, 2015 | | November 1, 2014 | | October 31, 2015 | | November 1, 2014 | Grant date market price | $ | 22.46 |
| | $ | 37.85 |
| | $ | 21.99 |
| | $ | 38.58 |
| Exercise price | $ | 22.46 |
| | $ | 38.44 |
| | $ | 21.99 |
| | $ | 38.79 |
| Fair value | $ | 9.11 |
| | $ | 14.04 |
| | $ | 7.84 |
| | $ | 13.56 |
| Assumptions: | | | | | | | | Price volatility | 49 | % | | 50 | % | | 49 | % | | 50 | % | Expected term (years) | 6.1 |
| | 4.9 |
| | 4.4 |
| | 4.1 |
| Risk-free interest rate | 1.5 | % | | 1.6 | % | | 1.3 | % | | 1.4 | % | Dividend yield | 1.7 | % | | 2.0 | % | | 1.7 | % | | 1.9 | % |
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| Schedule of Restricted Stock Unit Activity |
The following table summarizes activity for restricted stock units for the thirty-nine weeks ended October 31, 2015: | | | | | | | | | | | | | | | | | | | | | | | Service-based Restricted Stock Units | | Performance-based Restricted Stock Units | | Market-based Restricted Stock Units | | Number of Underlying Shares | | Weighted- Average Grant Date Fair Value | | Number of Underlying Shares | | Weighted- Average Grant Date Fair Value | | Number of Underlying Shares | | Weighted- Average Grant Date Fair Value | Unvested at January 31, 2015 | 1,566,272 |
| | $ | 37.81 |
| | 205,420 |
| | $ | 32.05 |
| | 36,374 |
| | $ | 40.13 |
| Granted (1) | 1,060,293 |
| | 20.49 |
| | 113,331 |
| | 20.10 |
| | 113,337 |
| | 19.04 |
| Adjustments for performance achievement | — |
| | — |
| | (28,250 | ) | | 36.14 |
| | — |
| | — |
| Vested | (437,946 | ) | | 41.00 |
| | (48,668 | ) | | 38.24 |
| | — |
| | — |
| Forfeited | (181,378 | ) | | 35.62 |
| | (30,208 | ) | | 36.19 |
| | (7,000 | ) | | 28.31 |
| Unvested at October 31, 2015 | 2,007,241 |
| | $ | 28.16 |
| | 211,625 |
| | $ | 23.09 |
| | 142,711 |
| | $ | 23.96 |
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| | (1) | Includes 226,668 shares granted at 100% of their target vesting amount related to restricted stock units with performance vesting conditions. |
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| Market-based restricted stock units [Member] |
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| Schedule of Weighted-Average Estimated Fair Value and Assumptions of Restricted Stock Units with Market Vesting Conditions |
The weighted-average assumptions used for market-based restricted stock units used in the Monte Carlo simulation during the thirty-nine weeks ended October 31, 2015 and November 1, 2014 were as follows: | | | | | | | | | | October 31, 2015 | | November 1, 2014 | Grant date market price | $ | 22.46 |
| | $ | 38.50 |
| Fair value | $ | 19.04 |
| | $ | 46.86 |
| Assumptions: | | | | Price volatility | 45 | % | | 50 | % | Expected term (years) | 2.8 |
| | 2.8 |
| Risk-free interest rate | 0.9 | % | | 0.8 | % | Dividend yield | 3.5 | % | | 2.1 | % | Average volatility of peer companies | 34.0 | % | | 37.3 | % | Average correlation coefficient of peer companies | 0.3288 |
| | 0.3786 |
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