Share-Based Compensation (Tables)

6 Months Ended

Aug. 04, 2018

Share-Based Compensation [Abstract]

Total Compensation Expense and the Related Tax Benefits Recognized

	Thirteen weeks ended				Twenty-six weeks ended
	August 4,		July 29,		August 4,		July 29,
	2018		2017		2018		2017
	($ in millions)
Options and shares purchased under the employee stock purchase plan	$	1	$	3	$	3	$	5
Restricted stock and restricted stock units		3		—		6		3
Total share-based compensation expense	$	4	$	3	$	9	$	8
Tax benefit recognized	$	—	$	1	$	1	$	2

Assumptions used to Compute Share-Based Compensation Expense

		Stock Option Plans						Stock Purchase Plan
		August 4,			July 29,			August 4,			July 29,
		2018			2017			2018			2017
Weighted-average risk free rate of interest		2.7	%		2.1	%		1.6	%		0.8	%
Expected volatility		37	%		25	%		41	%		29	%
Weighted-average expected award life (in years)		5.5			5.3			1.0			1.0
Dividend yield		3.1	%		1.7	%		2.3	%		2.0	%
Weighted-average fair value	$	12.37		$	15.56		$	14.89		$	10.61

Options Granted under Stock Option Plans

		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	2,739			$	52.45
Granted	380				44.82
Exercised	(134)				31.47
Expired or cancelled	(48)				57.91
Options outstanding at August 4, 2018	2,937		6.5	$	52.33
Options exercisable at August 4, 2018	2,054		5.4	$	50.00
Options available for future grant at August 4, 2018	8,323

Total Intrinsic Value of Options Exercised

	Thirteen weeks ended				Twenty-six weeks ended
	August 4, 2018		July 29, 2017		August 4, 2018		July 29, 2017
	($ in millions)
Exercised	$	3	$	—	$	3	$	15

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable

	Twenty-six weeks ended
	August 4, 2018		July 29, 2017
	($ in millions)
Outstanding	$	15	$	23
Outstanding and exercisable	$	13	$	23

Information about Stock Options Outstanding and Exercisable

	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 $18.84	240	2.2	$	17.10	240	$	17.10
$24.75 to $34.75	395	4.5		32.16	356		31.88
$44.78 to $45.75	663	7.7		44.92	299		45.08
$46.64 to $62.11	699	6.0		60.98	683		61.22
$63.79 to $73.21	940	7.9		68.57	476		67.13
	2,937	6.5	$	52.33	2,054	$	50.00

Restricted Share and Unit Activity

Restricted stock and RSU activity for the twenty-six weeks ended August 4, 2018 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		374		$	59.15
Granted (1)		651			47.29
Vested		(94)			63.37
Cancelled (2)		(80)			58.92
Nonvested at August 4, 2018		851	2.3	$	49.63
Aggregate value ($ in millions)	$	42

(1)	Approximately 0.4 million performance-based RSUs were granted during the first quarter of 2018 and are included as granted in the table above. The number of performance-based RSUs that are ultimately earned may vary from 0% to 200% of target depending on the achievement relative to the Company’s predefined financial performance targets.
(2)	In addition to forfeitures of restricted stock and RSUs, cancellations include adjustments that were made to performance-based RSUs previously granted. These adjustments reflect changes in estimates based upon the Company’s current performance against predefined financial targets.