Shareholders' Equity (Tables)

12 Months Ended

Jan. 30, 2021

Shareholders' Equity [Abstract]

Stock-based compensation expense

	2021		2020		2019
Stock options	$	4	$	7	$	3
Share awards:
Market-based		11		13		15
Performance-based		21		28		20
Time-based		99		95		85
Total	$	135	$	143	$	123

Stock option activity

	Stock Options ‎(in thousands)	Weighted-Average ‎ Exercise Price ‎per Share		Weighted-Average ‎ Remaining Contractual Term ‎(in years)		Aggregate ‎Intrinsic Value ‎(in millions)
Outstanding as of February 1, 2020	1,616	$	54.38
Granted	235	$	51.65
Exercised	(494)	$	41.96
Forfeited/canceled	(85)	$	67.32
Outstanding as of January 30, 2021	1,272	$	57.83		6.2	$	65
Vested or expected to vest as of January 30, 2021	1,272	$	57.83		6.2	$	65
Exercisable as of January 30, 2021	409	$	44.85		3.2	$	26

Black Scholes valuation model assumptions

Valuation Assumptions	2021					2020					2019
Risk-free interest rate(1)	0.1	%	-	0.9	%	1.9	%	-	2.5	%	1.9	%	-	2.8	%
Expected dividend yield	2.9				%	2.9				%	2.7				%
Expected stock price volatility(2)	56				%	36				%	39				%
Expected life of stock options (in years)(3)	6.3					7.4					6.5

(1)Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of our stock options.

(2)In projecting expected stock price volatility, we consider both the historical volatility of our stock price as well as implied volatilities from exchange-traded options on our stock.

(3)Estimated based upon historical experience.

Summary of the status of nonvested market-based share awards

Market-Based Share Awards	Shares	Weighted-Average Fair Value per Share
Outstanding as of February 1, 2020	692	$	59.84
Granted	376	$	53.18
Vested	(453)	$	41.44
Forfeited/canceled	(57)	$	70.04
Outstanding as of January 30, 2021	558	$	65.88

Summary of the status of nonvested time-based share awards

Time-Based Share Awards	Shares	Weighted-Average Fair Value per Share
Outstanding as of February 1, 2020	3,852	$	57.81
Granted	2,339	$	53.10
Vested	(2,102)	$	50.11
Forfeited/canceled	(246)	$	61.22
Outstanding as of January 30, 2021	3,843	$	58.94

Summary of the status of nonvested performance-based share awards

Performance-Based Share Awards	Shares	Weighted-Average Fair Value per Share
Outstanding as of February 1, 2020	953	$	63.82
Granted	451	$	50.75
Vested	(386)	$	49.43
Forfeited/canceled	(89)	$	66.58
Outstanding as of January 30, 2021	929	$	63.20

Summary of stock options outstanding

	Exercisable					Unexercisable					Total
	Shares	%		Weighted-Average Price per Share		Shares	%		Weighted-Average Price per Share		Shares	%		Weighted-Average Price per Share
In-the-money	0.4	32	%	$	44.85	0.9	68	%	$	63.98	1.3	100	%	$	57.83

Reconciliation of the numerators and denominators of basic and diluted earnings per share

	2021		2020		2019
Numerator
Net earnings	$	1,798	$	1,541	$	1,464
Denominator
Weighted-average common shares outstanding		259.6		264.9		276.4
Dilutive effect of stock compensation plan awards		3.4		3.2		5.0
Weighted-average common shares outstanding, assuming dilution		263.0		268.1		281.4
Potential shares which were anti-dilutive and excluded from weighted-average share computations		-		0.8		0.2
Basic earnings per share	$	6.93	$	5.82	$	5.30
Diluted earnings per share	$	6.84	$	5.75	$	5.20

Schedule of share repurchases

	2021		2020		2019
Total cost of shares repurchased	$	318	$	1,009	$	1,493
Average price per share	$	102.63	$	72.34	$	70.28
Number of shares repurchased and retired		3.1		14.0		21.2