Share-Based Compensation (Tables)

9 Months Ended

Oct. 30, 2021

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 30,		October 31,		October 30,		October 31,
($ in millions)	2021		2020		2021		2020
Options and shares purchased under the stock purchase plan	$	1	$	1	$	5	$	5
Restricted stock units and performance stock units		6		1		18		4
Total share-based compensation expense	$	7	$	2	$	23	$	9
Tax benefit recognized	$	—	$	—	$	2	$	1

Assumptions used to Compute Share-Based Compensation Expense

The table below shows assumptions used to compute share-based compensation expense for awards granted during the thirty-nine weeks ended October 30, 2021 and October 31, 2020.

		Stock Option Plans						Stock Purchase Plan
	October 30,			October 31,			October 30,			October 31,
	2021			2020			2021			2020
Weighted-average risk free rate of interest		0.9	%		0.5	%		0.1	%		1.8	%
Expected volatility		47	%		37	%		45	%		48	%
Weighted-average expected award life (in years)		5.5			4.9			1.0			1.0
Dividend yield		1.5	%		4.3	%		4.4	%		4.2	%
Weighted-average fair value	$	20.22		$	5.03		$	8.78		$	13.97

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	3,540			$	47.17
Granted	183				53.82
Exercised	(309)				33.30
Expired or cancelled	(145)				53.21
Options outstanding at October 30, 2021	3,269		5.2	$	48.58
Options exercisable at October 30, 2021	2,478		4.2	$	53.70
Options available for future grant at October 30, 2021	5,531

Total Intrinsic Value of Options Exercised

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

	Thirteen weeks ended				Thirty-nine weeks ended
	October 30,		October 31,		October 30,		October 31,
($ in millions)	2021		2020		2021		2020
Exercised	$	—	$	—	$	8	$	—

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 30, 2021		October 31, 2020
Outstanding	$	25	$	18
Outstanding and exercisable	$	11	$	4

Information about Stock Options Outstanding and Exercisable

The table below summarizes information about stock options outstanding and exercisable at October 30, 2021.

	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)
$21.60 - $36.51	1,003	6.6	$	23.85	469	$	26.36
$44.78 - $48.98	472	4.1		45.01	472		45.01
$53.61 - $58.94	538	6.9		56.67	282		57.94
$62.02 - $72.83	1,256	3.8		66.22	1,255		66.22
	3,269	5.2	$	48.58	2,478	$	53.70

Restricted Share and Unit Activity

			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		1,348			$	38.48
Granted		426				54.16
Vested		(522)				43.60
Performance adjustment (1)		240
Forfeited		(48)				34.83
Nonvested at October 30, 2021		1,444		1.8	$	43.66
Aggregate value ($ in millions)	$	63

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