Stock-Based Compensation (Tables)

12 Months Ended

Feb. 01, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair value of option awards

The fair value of each option award is estimated using a Black-Scholes option valuation model and the following assumptions as of the grant date:

	2013	2012	2011
Dividend yield	2.9%	2.6%	1.8%
Volatility	32.7%	33.7%	33.1%
Risk-free interest rate	0.9%	1.0%	2.0%
Expected life in years	5.5	5.5	5.5
Weighted average fair value at grant date	$10.68	$11.79	$14.54

Summary of stock option activity

The following table summarizes our stock option activity for 2013, 2012, and 2011:

	2013				2012				2011
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
	(Shares in Thousands)
Balance at beginning of year	15,212		$	53.96	16,564		$	53.41	17,869		$	53.17
Granted	575		47.86		1,458		49.00		1,056		52.60
Exercised	(2,494	)	41.02		(1,718	)	40.01		(1,349	)	43.12
Forfeited/expired	(1,918	)	56.59		(1,092	)	60.93		(1,012	)	62.07
Balance at end of year	11,375		$	56.05	15,212		$	53.96	16,564		$	53.41

Stock options outstanding and exercisable by exercise price range

Additional information related to stock options outstanding and exercisable at February 1, 2014, segregated by exercise price range, is summarized below:    

	Stock Options Outstanding					Stock Options Exercisable
Range of Exercise Prices	Shares		Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Shares		Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price
	(Shares in Thousands)
$ 17.00 – $ 35.50	313		1.1	$	34.70	313		1.1	$	34.70
$ 35.51 – $ 38.30	37		1.7	37.65		37		1.7	37.65
$ 38.31 – $ 41.63	948		2.3	41.58		634		2.4	41.55
$ 41.64 – $ 45.57	776		2.7	43.57		571		1.5	43.14
$ 45.58 – $ 50.37	2,529		4.9	48.25		1,401		4.6	48.44
$ 50.38 – $ 51.81	851		4.7	50.87		586		4.3	50.69
$ 51.82 – $ 66.25	2,979		3.2	57.24		2,162		2.8	58.51
$ 66.26 – $ 75.90	989		2.2	68.68		989		2.2	68.68
$ 75.91 – $ 77.62	1,953		0.2	75.99		1,953		0.2	75.99
	11,375		2.9	$	56.05	8,646		2.3	$	58.25
Intrinsic value (in thousands)	$	25,656				$	18,660

Summary of nonvested atock activity

The following table summarizes nonvested stock activity, including restricted stock equivalents issued in lieu of cash dividends, for 2013, 2012, and 2011:

	2013				2012				2011
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
	(Shares in Thousands)
Balance at beginning of year	2,323		$	50.47	1,946		$	51.11	1,116		$	49.30
Granted	1,189		49.22		1,038		48.86		1,198		52.34
Vested	(706	)	48.00		(492	)	49.77		(308	)	49.28
Forfeited	(153	)	50.48		(169	)	50.04		(60	)	51.31
Balance at end of year	2,653		$	50.56	2,323		$	50.47	1,946		$	51.11