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Stock-Based Compensation (Tables)
 12 Months Ended
Jan. 28, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Summary Of Stock-Based Compensation Expense The following table summarizes our stock-based compensation expense:
Fiscal year202220212020
RSUs$41 $52 $53 
Stock options11 22 12 
Other1
7 5 2 
Total stock-based compensation expense, before income tax benefit59 79 67 
Income tax benefit(15)(20)(26)
Total stock-based compensation expense, net of income tax benefit$44 $59 $41 
1 Other stock-based compensation expense includes PSUs, ESPP and nonemployee director stock awards.
Stock-Based Compensation Expense Before Income Tax Benefit The stock-based compensation expense before income tax benefit was recorded in our Consolidated Statements of Earnings as follows:
Fiscal year202220212020
Cost of sales and related buying and occupancy costs$9 $15 $16 
SG&A expenses50 64 51 
Total stock-based compensation expense, before income tax benefit$59 $79 $67 
Summary Of Restricted Stock Unit Activity A summary of restricted stock unit activity for 2022 is presented below:
Fiscal year2022
 SharesWeighted-average grant date fair value per unit
Outstanding, beginning of year4.6 $36 
Granted3.1 21 
Vested(2.3)27 
Forfeited or cancelled(0.8)26 
Outstanding, end of year4.6 $32 
Assumptions To Estimate The Fair Value For Stock Options At Grant Date We used the following assumptions to estimate the fair value for stock options at each grant date:
Fiscal year2022
20211
20202
Assumptions
Risk-free interest rate: Represents the yield on U.S. Treasury zero-coupon securities that mature over the 10-year life of the stock options.
1.18% – 1.95%
0.11% – 1.51%
0.18% – 0.62%
Weighted-average volatility: Based on a combination of the historical volatility of our common stock and the implied volatility of exchange-traded options for our common stock.
52.4 %52.2 %60.1 %
Weighted-average expected dividend yield: Our forecasted dividend yield for the next 10 years.
3.4 %3.4 %3.4 %
Expected life in years: Represents the estimated period of time until option exercise. The expected term of options granted was based on our historical exercise behavior, taking into consideration the contractual term of the option and our employees’ expected exercise and post-vesting employment termination behavior.
8.38.37.7
Grant Date Information
Date of grant
March 3, 2022March 4, 2021June 1, 2020
Weighted-average fair value per option
$10 $13 $7 
Exercise price per option
$26 $36 $17 
1 The options granted on March 4, 2021 include market performance-based stock options with a contractual term of ten years that were awarded to certain members of senior management as well as time-based options. The price-hurdle options contain a market condition that requires the closing price of our stock to meet or exceed certain price thresholds for 20 consecutive trading days in order for shares to vest.
2 Additional non-qualified stock options were also granted to certain company leaders on August 27, 2020 at an exercise price per option of $15. The assumptions used to estimate the fair value for the additional stock options were similar to the 2020 grant assumptions presented in this table. In 2020, we also granted stock options to certain qualified employees outside of the June and August grant dates, which were insignificant in aggregate.
Summary Of Stock Option Activity
A summary of stock option activity for 2022 is presented below:
Fiscal year2022
 Shares
Weighted-
average
exercise price
Weighted-average
remaining 
contractual
life (years)
Aggregate 
intrinsic 
value1 
Outstanding, beginning of year10.4 $39   
Granted1.1 26 
Exercised(0.9)15 
Forfeited or cancelled(2.1)47 
Outstanding, end of year8.5 $38 5$6 
Vested, end of year6.3 $41 4$6 
Vested or expected to vest, end of year
7.6 $39 5$6 
Fiscal year202220212020
Aggregate intrinsic value of options exercised$4 $— $1 
Fair value of stock options vested$27 $2 $8 
1 The aggregate intrinsic value represents the amount realized if all in-the-money options were exercised on the final business day before January 28, 2023.