Share-Based Compensation (Tables)

3 Months Ended

Apr. 29, 2017

Share-Based Compensation [Abstract]

Total Compensation Expense and the Related Tax Benefits Recognized

Total compensation expense included in SG&A, and the associated tax benefits recognized related to the Company’s share-based compensation plans, were as follows:

	Thirteen weeks ended
	April 29,		April 30,
	2017		2016
	($ in millions)
Options and shares purchased under the employee stock purchase plan	$	2	$	3
Restricted stock and restricted stock units		3		2
Total share-based compensation expense	$	5	$	5
Tax benefit recognized	$	1	$	1

Assumptions used to Compute Share-Based Compensation Expense

The following table shows the Company’s assumptions used to compute the share-based compensation expense for awards granted during the thirteen weeks ended April 29, 2017 and April 30, 2016:  

		Stock Option Plans						Stock Purchase Plan
		April 29,			April 30,			April 29,			April 30,
		2017			2016			2017			2016
Weighted-average risk free rate of interest		2.1	%		1.4	%		0.7	%		0.3	%
Expected volatility		25	%		30	%		29	%		25	%
Weighted-average expected award life (in years)		5.3			5.7			1.0			1.0
Dividend yield		1.7	%		1.7	%		2.0	%		1.6	%
Weighted-average fair value	$	15.58		$	15.78		$	10.33		$	11.12

Options Granted under Stock Option Plans

The information in the following table covers option activity under the Company’s stock option plans for the thirteen weeks ended April 29, 2017:

		Weighted-		Weighted-
	Number	Average		Average
	of	Remaining		Exercise
	Shares	Contractual Life		Price
	(in thousands)	(in years)		(per share)
Options outstanding at the beginning of the year	2,806			$	42.61
Granted	496				72.83
Exercised	(315)				27.83
Expired or cancelled	(2)				41.81
Options outstanding at April 29, 2017	2,985		6.7	$	49.19
Options exercisable at April 29, 2017	1,935		5.4	$	39.23
Options available for future grant at April 29, 2017	11,031

Total Intrinsic Value of Options Exercised

The total intrinsic value of options exercised (the difference between the market price of the Company’s common stock on the exercise date and the price paid by the optionee to exercise the option) is presented below:

	Thirteen weeks ended
	April 29,		April 30,
	2017		2016
	($ in millions)
Exercised	$	15	$	14

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable

The aggregate intrinsic value for stock options outstanding, outstanding and exercisable, and vested and expected to vest (the difference between the Company’s closing stock price on the last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money stock options) is presented below:

	Thirteen weeks ended
	April 29,		April 30,
	2017		2016
	($ in millions)
Outstanding	$	84	$	94
Outstanding and exercisable	$	74	$	91
Vested and expected to vest	$	84	$	94

Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at April 29, 2017:

	Options Outstanding				Options Exercisable
		Weighted-
		Average		Weighted-			Weighted-
		Remaining		Average			Average
Range of Exercise	Number	Contractual		Exercise	Number		Exercise
Prices	Outstanding	Life		Price	Exercisable		Price
	(in thousands, except prices per share and contractual life)
$9.85 to $24.75	551	2.4	$	14.37	551	$	14.37
$30.92 to $45.08	761	5.8		38.50	761		38.50
$55.02 to $62.11	700	7.4		61.26	467		61.43
$63.79 to $73.21	973	9.4		68.57	156		64.02
	2,985	6.7	$	49.19	1,935	$	39.23

Restricted Share and Unit Activity

Restricted stock and RSU activity for the thirteen weeks ended April 29, 2017 is summarized as follows:

			Weighted-
			Average	Weighted-
		Number	Remaining	Average
		of	Contractual	Grant Date
		Shares	Life	Fair Value
		(in thousands)	(in years)		(per share)
Nonvested at beginning of year		798		$	56.91
Granted		237			72.83
Vested		(263)			48.60
Expired or cancelled		(59)			43.21
Nonvested at April 29, 2017		713	1.9	$	66.31
Aggregate value ($ in millions)	$	47