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Shareholders' Equity (Tables)
 12 Months Ended
Jan. 28, 2023
Shareholders' Equity [Abstract]  
Stock-Based Compensation Expense

2023

2022

2021

Share awards:

Time-based

$

121 

$

109 

$

99 

Performance-based

-

17 

21 

Market-based

14 

12 

11 

Stock options

3 

3 

4 

Stock-based compensation expense

138 

141 

135 

Income tax benefits

27 

26 

25 

Stock-based compensation expense, net of tax

$

111 

$

115 

$

110 
Time-Based Share Awards

Time-Based Share Awards

Shares

Weighted-Average Fair Value per Share

Outstanding as of January 29, 2022

3,396 

$

80.30 

Granted

1,674 

$

98.05 

Vested and distributed

(1,642)

$

75.55 

Forfeited

(382)

$

92.16 

Outstanding as of January 28, 2023

3,046 

$

90.96 
Performance-Based Share Awards

Performance-Based Share Awards

Shares

Weighted-Average Fair Value per Share

Outstanding as of January 29, 2022

673 

$

68.40 

Granted

31 

$

85.19 

Adjustment for performance achievement

30 

$

68.91 

Distributed

(424)

$

70.71 

Forfeited

(22)

$

60.48 

Outstanding as of January 28, 2023

288 

$

67.36 
Market-Based Share Awards

Market-Based Share Awards

Shares

Weighted-Average Fair Value per Share

Outstanding as of January 29, 2022

524 

$

80.78 

Granted

227 

$

112.62 

Adjustment for performance achievement

9 

$

72.87 

Distributed

(211)

$

72.87 

Forfeited

(35)

$

91.31 

Outstanding as of January 28, 2023

514 

$

96.61 
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 January 29, 2022

835 

$

57.39 

Exercised

(112)

$

34.83 

Forfeited

(3)

$

51.63 

Outstanding as of January 28, 2023

720 

$

60.91 

5.6 

$

17 

Vested or expected to vest as of January 28, 2023

720 

$

60.91 

5.6 

$

17 

Exercisable as of January 28, 2023

368 

$

54.94 

4.9 

$

11 
Black Scholes Valuation Model Assumptions

Valuation Assumptions

2021

Risk-free interest rate(1)

0.1 

%

-

0.9 

%

Expected dividend yield

2.9 

%

Expected stock price volatility(2)

56 

%

Expected life of stock options (in years)(3)

6.3 

(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.
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 

51%

$

54.94 

0.3 

49%

$

67.13 

0.7 

100%

$

60.91 
Earnings Per Share

2023

2022

2021

Numerator

Net earnings

$

1,419 

$

2,454 

$

1,798 

Denominator

Weighted-average common shares outstanding

224.8 

246.8 

259.6 

Dilutive effect of stock compensation plan awards

0.9 

2.5 

3.4 

Weighted-average common shares outstanding, assuming dilution

225.7 

249.3 

263.0 

Potential shares which were anti-dilutive and excluded from weighted-average share computations

0.7 

0.1 

-

Basic earnings per share

$

6.31 

$

9.94 

$

6.93 

Diluted earnings per share

$

6.29 

$

9.84 

$

6.84 
Share Repurchases

2023

2022

2021

Total cost of shares repurchased

$

1,001 

$

3,504 

$

318 

Average price per share

$

84.78 

$

108.97 

$

102.63 

Number of shares repurchased and retired

11.8 

32.2 

3.1