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Share-Based Compensation (Tables)
 12 Months Ended
Jan. 31, 2015
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:
 
 
 
 
 
 
2014
 
2013
 
2012
  
 
(in millions)
Options and shares purchased under the employee stock purchase plan
 
$
13
 
 
$
12
 
 
$
10
 
Restricted stock and units
 
 
11
 
 
 
13
 
 
 
10
 
Total share-based compensation expense
 
$
24
 
 
$
25
 
 
$
20
 
Tax benefit
 
$
7
 
 
$
8
 
 
$
6
 
Tax deductions in excess of the cumulative compensation cost
 
$
12
 
 
$
9
 
 
$
11
 
Assumptions used to Compute Share-Based Compensation Expense
The following table shows the Company’s assumptions used to compute the share-based compensation expense:
 
 
 
 
 
 
 
 
 
Stock Option Plans
 
Stock Purchase Plan
  
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Weighted-average risk free rate of interest
 
 
2.07
% 
 
 
1.02
% 
 
 
1.49
% 
 
 
0.14
% 
 
 
0.17
% 
 
 
0.22
% 
Expected volatility
 
 
39
% 
 
 
42
% 
 
 
43
% 
 
 
24
% 
 
 
40
% 
 
 
38
% 
Weighted-average expected award life (in years)
 
 
6.1
 
 
 
6.0
 
 
 
5.5
 
 
 
1.0
 
 
 
1.0
 
 
 
1.0
 
Dividend yield
 
 
1.9
% 
 
 
2.3
% 
 
 
2.3
% 
 
 
2.0
% 
 
 
2.3
% 
 
 
2.5
% 
Weighted-average fair value
 
$
15.30
 
 
$
10.98
 
 
$
10.13
 
 
$
7.35
 
 
$
5.79
 
 
$
6.11
 
Options Granted under Stock Option Plans
The information set forth in the following table covers options granted under the Company’s stock option plans:
 
 
 
 
 
 
 
 
 
2014
 
2013
 
2012
  
 
Number of Shares
 
Weighted- Average Exercise Price
 
Number of Shares
 
Weighted- Average Exercise Price
 
Number of Shares
 
Weighted- Average Exercise Price
  
 
(in thousands, except prices per share)
Options outstanding at beginning of year
 
 
5,668
 
 
$
22.66
 
 
 
5,907
 
 
$
19.93
 
 
 
7,227
 
 
$
18.44
 
Granted
 
 
849
 
 
$
46.20
 
 
 
1,154
 
 
$
34.25
 
 
 
940
 
 
$
30.96
 
Exercised
 
 
(810
) 
 
$
21.74
 
 
 
(1,328
) 
 
$
20.26
 
 
 
(2,213
) 
 
$
19.67
 
Expired or cancelled
 
 
(138
) 
 
$
42.55
 
 
 
(65
) 
 
$
29.55
 
 
 
(47
) 
 
$
23.74
 
Options outstanding at end of year
 
 
5,569
 
 
$
25.89
 
 
 
5,668
 
 
$
22.66
 
 
 
5,907
 
 
$
19.93
 
Options exercisable at end of year
 
 
3,759
 
 
$
19.74
 
 
 
3,495
 
 
$
18.02
 
 
 
3,593
 
 
$
17.83
 
Options vested and expected to vest
 
 
5,546
 
 
$
25.82
 
 
 
5,558
 
 
$
22.45
 
 
 
5,804
 
 
$
19.82
 
Options available for future grant at end of year
 
 
13,911
 
 
 
  
 
 
 
3,267
 
 
 
  
 
 
 
5,518
 
 
 
  
 
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:
 
 
 
 
 
 
2014
 
2013
 
2012
  
 
(in millions)
Exercised
 
$
22
 
 
$
21
 
 
$
29
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:
 
 
 
 
 
 
2014
 
2013
 
2012
  
 
(in millions)
Outstanding
 
$
152
 
 
$
90
 
 
$
86
 
Outstanding and exercisable
 
$
126
 
 
$
72
 
 
$
60
 
Vested and expected to vest
 
$
152
 
 
$
90
 
 
$
86
 
Information about Stock Options Outstanding and Exercisable
The following table summarizes information about stock options outstanding and exercisable at January 31, 2015:
 
 
 
 
 
 
 
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
 
Number
Outstanding
 
Weighted-
Average
Remaining
Contractual Life
 
Weighted-
Average
Exercise Price
 
Number
Exercisable
 
Weighted-
Average
Exercise Price
  
 
(in thousands, except prices per share and contractual life)
$9.85 to $15.10
 
 
1,466
 
 
 
4.63
 
 
$
12.39
 
 
 
1,466
 
 
$
12.39
 
$18.80 to $24.76
 
 
1,453
 
 
 
5.03
 
 
$
20.10
 
 
 
1,453
 
 
$
20.10
 
$25.19 to $34.27
 
 
1,896
 
 
 
7.45
 
 
$
32.70
 
 
 
828
 
 
$
31.82
 
$34.42 to $56.35
 
 
754
 
 
 
9.15
 
 
$
46.15
 
 
 
12
 
 
$
40.51
 
  
 
 
5,569
 
 
 
6.31
 
 
$
25.89
 
 
 
3,759
 
 
$
19.74
 
Restricted Share and Unit Activity
Restricted share and unit activity is summarized as follows:
 
 
 
 
 
 
 
 
 
2014
 
2013
 
2012
  
 
Number of
Shares
 
Wtg. Avg.
Grant Date
Fair Value
per share
 
Number of
Shares
 
Wtg. Avg.
Grant Date
Fair Value
per share
 
Number of
Shares
 
Wtg. Avg.
Grant Date
Fair Value
per share
  
 
(in thousands, except prices per share)
Nonvested at beginning of year
 
 
1,369
 
 
$
27.20
 
 
 
1,564
 
 
$
19.50
 
 
 
2,068
 
 
$
14.52
 
Granted
 
 
360
 
 
$
46.48
 
 
 
469
 
 
$
35.03
 
 
 
278
 
 
$
30.89
 
Vested
 
 
(649
) 
 
$
20.84
 
 
 
(649
) 
 
$
14.50
 
 
 
(782
) 
 
$
10.37
 
Expired or cancelled
 
 
(42
) 
 
$
24.69
 
 
 
(15
) 
 
$
18.30
 
 
 
—
 
 
$
—
 
Nonvested at end of year
 
 
1,038
 
 
$
37.96
 
 
 
1,369
 
 
$
27.20
 
 
 
1,564
 
 
$
19.50
 
Aggregate value (in millions)
 
$
 39
 
 
 
  
 
 
$
37
 
 
 
  
 
 
$
 30
 
 
 
  
 
Wtg. Avg. remaining contractual life (in years)
 
 
1.12
 
 
 
  
 
 
 
0.89
 
 
 
  
 
 
 
0.84