Share-Based Compensation (Tables)

6 Months Ended

Aug. 01, 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:

	Thirteen weeks ended				Twenty-six weeks ended
	August 1,		August 2,		August 1,		August 2,
	2015		2014		2015		2014
	($ in millions)
Options and shares purchased under the employee stock purchase plan	$	3	$	3	$	6	$	6
Restricted stock and restricted stock units		2		3		5		6
Total share-based compensation expense	$	5	$	6	$	11	$	12
Tax benefit recognized	$	1	$	2	$	3	$	4
Excess income tax benefit from settled equity-classified share-based awards reported as a cash flow from financing activities					$	24	$	9

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
	August 1,			August 2,			August 1,			August 2,
	2015			2014			2015			2014
Weighted-average risk free rate of interest		1.51	%		2.11	%		0.19	%		0.15	%
Expected volatility		30	%		39	%		24	%		24	%
Weighted-average expected award life		6.0 years			6.1 years			1.0 year			1.0 year
Dividend yield		1.6	%		2.0	%		1.7	%		2.2	%
Weighted-average fair value	$	16.01		$	14.88		$	9.53		$	6.60

Options Granted under Stock Option Plans

The information in the following table covers options granted under the Company’s stock option plans for the twenty-six weeks ended August 1, 2015:

			Weighted-		Weighted-Average
			Average		Exercise
	Shares		Term		Price
	(in thousands, except price per share and weighted-average) term)
Options outstanding at the beginning of the year		5,569			$	25.89
Granted		682				62.11
Exercised		(1,672)				22.49
Expired or cancelled		(51)				48.20
Options outstanding at August 1, 2015		4,528		6.6	$	32.35
Options exercisable at August 1, 2015		3,305		5.7	$	24.54
Options vested and expected to vest at August 1, 2015		4,479		6.6	$	32.09
Options available for future grant at August 1, 2015		13,104

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				Twenty-six weeks ended
	August 1,		August 2,		August 1,		August 2,
	2015		2014		2015		2014
	($ in millions)
Exercised	$	29	$	4	$	65	$	15

Aggregate Intrinsic Value for Stock Options Outstanding and Exercisable

The aggregate intrinsic value for stock options outstanding and for stock options exercisable (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:

	Twenty-six weeks ended
	August 1,		August 2,
	2015		2014
	($ in millions)
Outstanding	$	173	$	130
Outstanding and exercisable	$	152	$	112
Vested and expected to vest	$	172	$	130

Information about Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at August 1, 2015:

	Options Outstanding						Options Exercisable
			Weighted-		Weighted-
			Average		Average				Weighted-Average
Range of Exercise	Number		Remaining		Exercise		Number		Exercise
Prices	Outstanding		Contractual Life		Price		Exercisable		Price
	(in thousands, except prices per share and contractual life)
$ 9.85 to $18.80		872		4.1	$	13.28		872	$	13.28
$18.84 to $24.75		1,054		5.1	$	19.68		1,054	$	19.68
$30.92 to $36.59		1,249		7.0	$	32.79		1,075	$	32.56
$45.08 to $62.11		1,353		9.1	$	54.10		304	$	45.38
		4,528		6.6	$	32.35		3,305	$	24.54

Restricted Share and Unit Activity

Restricted share and RSU activity for the twenty-six weeks ended August 1, 2015 is summarized as follows:

			Weighted-Average
	Number of Shares		Grant Date Fair Value per Share
	(in thousands, except price per share)
Nonvested at the beginning of the year		1,038	$	37.96
Granted		126		61.61
Vested		(312)		32.33
Expired or cancelled		(63)		38.10
Nonvested at August 1, 2015		789	$	43.95
Aggregate value ($in millions)	$	35
Weighted-average remaining contractual life (in years)		1.3 years