STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Nov. 03, 2019

Share-based Payment Arrangement [Abstract]

Table Of Weighted Average Black Scholes Fair Value Assumptions [Table Text Block]

The following summarizes the assumptions used to estimate the fair value of stock options granted during the thirty-nine weeks ended November 3, 2019 and November 4, 2018 and the resulting weighted average grant date fair value per stock option:

	11/3/19			11/4/18
Weighted average risk-free interest rate	2.15		%	2.78		%
Weighted average expected stock option term (in years)	6.25			6.25
Weighted average Company volatility	29.88		%	26.92		%
Expected annual dividends per share	$	0.15		$	0.15
Weighted average grant date fair value per stock option	$	37.14		$	51.66

The risk-free interest rate is based on United States Treasury yields in effect at the date of grant for periods corresponding to the expected stock option term. The expected stock option term represents the weighted average period of time that stock options granted are expected to be outstanding, based on vesting schedules and the contractual term of the stock options. Company volatility is based on the historical volatility of the Company’s common stock over a period of time corresponding to the expected stock option term. Expected dividends are based on the Company’s common stock cash dividend rate at the date of grant.

The Company has continued to utilize the simplified method to estimate the expected term for its “plain vanilla” stock options granted due to a lack of relevant historical data resulting, in part, from changes in the pool of employees receiving stock option grants. The Company will continue to evaluate the appropriateness of utilizing such method.

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Stock option activity for the thirty-nine weeks ended November 3, 2019 was as follows:

(In thousands, except per stock option data)	Stock Options	Weighted Average Exercise Price Per Stock Option
Outstanding at February 3, 2019	791	$	107.81
Granted	169	111.92
Exercised	25	78.56
Cancelled	26	120.33
Outstanding at November 3, 2019	909	$	109.02
Exercisable at November 3, 2019	595	$	105.80

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

RSU activity for the thirty-nine weeks ended November 3, 2019 was as follows:

(In thousands, except per RSU data)	RSUs	Weighted Average Grant Date Fair Value Per RSU
Non-vested at February 3, 2019	847	$	122.97
Granted	606	110.14
Vested	344	116.09
Cancelled	92	123.44
Non-vested at November 3, 2019	1,017	$	117.61

Table of Weighted Average Monte Carlo Fair Value Assumptions Performance Awards [Table Text Block]

The fair value of the awards granted was established for each grant on the grant date using the Monte Carlo simulation model.

The following summarizes the assumptions used to estimate the fair value of PSUs granted during the thirty-nine weeks ended November 3, 2019 and November 4, 2018 and the resulting weighted average grant date fair value per PSU:

	11/3/19			11/4/18
Risk-free interest rate	2.13		%	2.62		%
Expected Company volatility	30.25		%	29.78		%
Expected annual dividends per share	$	0.15		$	0.15
Weighted average grant date fair value per PSU	$	119.46		$	159.53

For certain of the awards granted, the after-tax portion of the award is subject to a holding period of one year after the vesting date. For such awards, the grant date fair value was discounted 6.20% in 2019 and 7.09% in 2018 for the restriction of liquidity, which was calculated using the Chaffe model.

Schedule of Nonvested Performance-based Units Activity [Table Text Block]

PSU activity for the thirty-nine weeks ended November 3, 2019 was as follows:

(In thousands, except per PSU data)	PSUs	Weighted Average Grant Date Fair Value Per PSU
Non-vested at February 3, 2019	194	$	106.76
Granted at target	72	119.46
Reduction due to market condition achieved below target	10	87.16
Vested	67	87.16
Cancelled	8	117.27
Non-vested at November 3, 2019	181	$	119.63