Share-Based Compensation (Tables)

9 Months Ended

Oct. 31, 2020

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 our share-based compensation plans, were as follows:

	Thirteen weeks ended				Thirty-nine weeks ended
		October 31,		November 2,		October 31,		November 2,
($ in millions)		2020		2019		2020		2019
Options and shares purchased under stock purchase plan	$	1	$	1	$	5	$	5
Restricted stock units		1		5		4		14
Total share-based compensation expense	$	2	$	6	$	9	$	19
Tax benefit recognized	$	—	$	1	$	1	$	2

Assumptions used to Compute Share-Based Compensation Expense

The following table shows assumptions used to compute share-based compensation expense for awards granted during the thirty-nine weeks ended October 31, 2020 and November 2, 2019:

		Stock Option Plans						Stock Purchase Plan
	October 31,			November 2,			October 31,			November 2,
	2020			2019			2020			2019
Weighted-average risk free rate of interest		0.5	%		2.2	%		1.8	%		2.3	%
Expected volatility		37	%		38	%		48	%		55	%
Weighted-average expected award life (in years)		4.9			5.5			1.0			1.0
Dividend yield		4.3	%		2.6	%		4.2	%		3.0	%
Weighted-average fair value	$	5.03		$	17.07		$	13.97		$	18.12

Options Granted under Stock Option Plans

The information in the following table provides activity under our stock option plans for the thirty-nine weeks ended October 31, 2020:

		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	2,881			$	54.21
Granted	1,069				21.61
Exercised	(10)				17.44
Expired or cancelled	(235)				34.34
Options outstanding at October 31, 2020	3,705		5.7	$	46.16
Options exercisable at October 31, 2020	2,560		4.2	$	53.90
Options available for future grant at October 31, 2020	6,171

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable

The aggregate intrinsic value for stock options outstanding, and outstanding and exercisable (the difference between our 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:

	Thirty-nine weeks ended
($ in millions)	October 31, 2020		November 2, 2019
Outstanding	$	18	$	8
Outstanding and exercisable	$	4	$	7

Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at October 31, 2020:

	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)
$18.84 to $23.09	1,035	8.2	$	21.31	150	$	19.57
$24.75 to $36.51	376	2.3		32.13	373		32.10
$44.78 to $45.75	554	5.1		44.91	464		44.94
$46.64 to $62.11	870	5.3		60.12	704		60.50
$63.33 to $73.21	870	5.0		68.60	869		68.61
	3,705	5.7	$	46.16	2,560	$	53.90

Restricted Share and Unit Activity

RSU activity for the thirty-nine weeks ended October 31, 2020 is summarized as follows:

			Weighted-Average
	Number		Remaining		Weighted-Average
	of		Contractual		Grant Date
	Shares		Life		Fair Value
		(in thousands)		(in years)		(per share)
Nonvested at beginning of year		936			$	49.25
Granted		416				22.59
Vested		(120)				53.31
Performance adjustment (1)		(132)
Forfeited		(155)				38.56
Nonvested at October 31, 2020		945		1.2	$	37.78
Aggregate value ($ in millions)	$	36

(1) This represents adjustments made to performance-based RSU awards and reflect changes in estimates based upon our current performance against predefined financial targets.