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Stock-Based Compensation and Employee Stock Plans (Tables)
 12 Months Ended
Jan. 28, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock-based compensation
The following represents total stock-based compensation recognized in the Consolidated Statements of Income for the fiscal years presented (in thousands):
 
2016
 
2015
 
2014
Stock option expense
$
9,506

 
$
8,211

 
$
7,903

Restricted stock expense
24,096

 
21,077

 
18,372

Total stock-based compensation expense
$
33,602

 
$
29,288

 
$
26,275

Total related tax benefit
$
11,718

 
$
10,290

 
$
9,200

 
 
 
 
 
 
Schedule of assumptions used to estimate the fair value of stock-based awards to employees
The fair value of stock-based awards to employees is estimated on the date of grant using the Black-Scholes valuation with the following assumptions:
 
Employee Stock Option Plans
Black-Scholes Valuation Assumptions
2016
 
2015
 
2014
Expected life (years) (1)
5.40

 
5.41

 
5.23

Expected volatility (2)
29.20% - 31.93%

 
30.38% - 42.07%

 
31.97% - 44.48%

Weighted average volatility
31.01
%
 
32.67
%
 
36.28
%
Risk-free interest rate (3)
1.07% - 1.90%

 
1.28% - 1.74%

 
1.44% - 2.39%

Expected dividend yield
1.03% - 1.59%

 
0.98% - 1.12%

 
0.90% - 1.13%

Weighted average grant date fair value
$
12.56

 
$
16.28

 
$
17.31



(1) 
The expected term of the options represents the estimated period of time until exercise and is based on historical experience of similar awards giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior.

(2) 
Expected volatility is based on the historical volatility of the Company's common stock over a timeframe consistent with the expected life of the stock options.

(3) 
The risk-free interest rate is based on the implied yield available on U.S. Treasury constant maturity interest rates whose term is consistent with the expected life of the stock options.
Schedule of stock option activity
The stock option activity from February 1, 2014 through January 28, 2017 is presented in the following table:
 
Shares Subject to Options
 
Weighted Average Exercise Price per Share
 
Weighted Average Remaining Contractual Life (Years)
 
Aggregate Intrinsic Value (in thousands)
Outstanding, February 1, 2014
4,954,047

 
$
28.55

 
3.19
 
$
118,784

Granted
559,722

 
53.78

 
 
 
 
Exercised
(1,175,540
)
 
22.22

 
 
 
 
Forfeited / Expired
(256,931
)
 
44.42

 
 
 
 
Outstanding, January 31, 2015
4,081,298

 
$
32.83

 
3.00
 
$
78,432

Granted
812,482

 
56.97

 
 
 
 
Exercised
(773,773
)
 
26.64

 
 
 
 
Forfeited / Expired
(145,495
)
 
51.38

 
 
 
 
Outstanding, January 30, 2016
3,974,512

 
$
38.29

 
2.94
 
$
51,930

Granted
1,143,326

 
47.79

 
 
 
 
Exercised
(1,348,241
)
 
22.28

 
 
 
 
Forfeited / Expired
(208,512
)
 
50.01

 
 
 
 
Outstanding, January 28, 2017
3,561,085

 
$
46.71

 
3.88
 
$
22,638

Exercisable, January 28, 2017
1,681,131

 
$
41.77

 
2.09
 
$
17,875

Vested and expected to vest, January 28, 2017
3,346,290

 
$
46.45

 
3.76
 
$
22,061

 
 
 
 
 
 
 
 
Schedule of nonvested stock option activity
The nonvested stock option activity for the year ended January 28, 2017 is presented in the following table:
 
Shares Subject to Options
 
Weighted Average Grant Date Fair Value
Nonvested, January 30, 2016
1,421,208

 
$
17.03

Granted
1,143,326

 
12.56

Vested
(480,267
)
 
17.49

Forfeited
(204,313
)
 
13.76

Nonvested, January 28, 2017
1,879,954

 
$
14.55

 
 
 
 
Schedule of stock options outstanding and exercisable by range of exercise prices
Additional information regarding options outstanding as of January 28, 2017 is as follows:
 
 
Options Outstanding
 
Options Exercisable
Range of
Exercise Prices
 
Shares
 
Weighted Average Remaining Contractual Life (Years)
 
Weighted Average Exercise Price
 
Shares
 
Weighted Average Exercise Price
$26.03 - $40.00
 
777,769

 
0.47
 
$
31.01

 
777,769

 
$
31.01

$40.42 - $46.97
 
372,898

 
3.40
 
45.91

 
250,689

 
45.98

$47.09 - $47.09
 
955,240

 
6.12
 
47.09

 
—

 
—

$47.73 - $55.29
 
770,694

 
3.61
 
52.11

 
488,742

 
51.18

$55.49 - $58.86
 
684,484

 
5.20
 
58.40

 
163,931

 
58.33

$26.03 - $58.86
 
3,561,085

 
3.88
 
$
46.71

 
1,681,131

 
$
41.77

 
 
 
 
 
 
 
 
 
 
 
Schedule of nonvested restricted stock activity
The restricted stock activity from February 1, 2014 through January 28, 2017 is presented in the following table:
 
Shares
 
Weighted Average Grant Date Fair Value
Nonvested, February 1, 2014
2,431,654

 
$
45.93

Granted
593,841

 
53.36

Vested
(433,249
)
 
39.99

Forfeited
(406,127
)
 
48.40

Nonvested, January 31, 2015
2,186,119

 
$
48.67

Granted
661,640

 
56.95

Vested
(400,951
)
 
48.59

Forfeited
(241,828
)
 
50.52

Nonvested, January 30, 2016
2,204,980

 
$
50.97

Granted
789,460

 
47.89

Vested
(438,160
)
 
47.05

Forfeited
(196,240
)
 
51.23

Nonvested, January 28, 2017
2,360,040

 
$
50.64