Share-Based Compensation (Tables)

Share-based compensation expense is as follows:


	Fiscal Year
($ in millions)	2021		2020		2019
Stock units	$	122	$	62	$	52
Stock options	13		12		12
Employee stock purchase plan	4		3		4
Share-based compensation expense	139		77		68
Less: Income tax benefit	(23)		(15)		(23)
Share-based compensation expense, net of tax	$	116	$	62	$	45

The fair value of stock options issued to employees during fiscal 2021, 2020, and 2019 was estimated on the date of grant using the following assumptions:


	Fiscal Year
	2021		2020		2019
Expected term (in years)	4.5		4.5		4.2
Expected volatility	56.9	%	46.9	%	37.5	%
Dividend yield	1.8	%	1.6	%	4.1	%
Risk-free interest rate	0.6	%	0.4	%	2.2	%

Information about stock options outstanding and exercisable as of January 29, 2022 is as follows:


	Intrinsic Value as of January 29, 2022 (in millions)		Number of Shares as of January 29, 2022	Weighted- Average Remaining Contractual Life (in years)	Weighted- Average Exercise Price Per Share
Options Outstanding	$	35	10,689,824	6.8	$	21.17
Options Exercisable	$	5	5,090,377	5.4	$	26.16

A summary of stock option activity under the 2016 Plan for fiscal 2021 is as follows:


	Shares	Weighted- Average Exercise Price Per Share
Balance as of January 30, 2021	12,391,932	$	20.27
Granted	968,237	$	30.55
Exercised	(1,591,414)	$	19.07
Forfeited/Expired	(1,078,931)	$	22.35
Balance as of January 29, 2022	10,689,824	$	21.17

A summary of additional information about stock options is as follows:


	Fiscal Year
($ in millions except per share amounts)	2021		2020		2019
Weighted-average fair value per share of stock options granted	$	12.35	$	3.28	$	5.43
Aggregate intrinsic value of stock options exercised	$	20	$	—	$	1
Fair value of stock options vested	$	13	$	13	$	16

A summary of Stock Unit activity under the 2016 Plan for fiscal 2021 is as follows:


	Shares	Weighted-Average Grant-Date Fair Value Per Share
Balance as of January 30, 2021	11,488,896	$	15.33
Granted	5,116,820	$	29.94
Granted, with vesting subject to performance and market conditions	1,665,606	$	35.41
Vested	(3,347,973)	$	18.39
Forfeited	(1,794,114)	$	20.89
Balance as of January 29, 2022	13,129,235	$	22.03

A summary of additional information about Stock Units is as follows:


	Fiscal Year
($ in millions except per share amounts)	2021		2020		2019
Weighted-average fair value per share of Stock Units granted	$	31.28	$	11.22	$	21.93
Fair value of Stock Units vested	$	62	$	65	$	66