Stock-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2015

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

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:



	2014	2013	2012
Dividend yield	2.8%	2.9%	2.6%
Volatility	31.0%	32.7%	33.7%
Risk-free interest rate	1.7%	0.9%	1.0%
Expected life in years	5.5	5.5	5.5
Weighted average fair value at grant date	$12.23	$10.68	$11.79

Summary of stock option activity

The following table summarizes our stock option activity for 2014, 2013, and 2012:



	2014				2013				2012
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
	(Shares in Thousands)
Balance at beginning of year	11,375		$	56.05	15,212		$	53.96	16,564		$	53.41
Granted	186		54.69		575		47.86		1,458		49.00
Exercised	(2,647	)	46.87		(2,494	)	41.02		(1,718	)	40.01
Forfeited/expired	(2,703	)	72.21		(1,918	)	56.59		(1,092	)	60.93
Balance at end of year	6,211		$	52.95	11,375		$	56.05	15,212		$	53.96

Stock options outstanding and exercisable by exercise price range

Additional information related to stock options outstanding and exercisable at January 31, 2015, 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)
$ 29.09 – $ 46.00	823		1.9	$	42.27	701		1.3	$	41.84
$ 46.01 – $ 49.00	1,180		4.4	47.60		541		4.6	47.46
$ 49.01 – $ 51.00	1,081		2.9	50.06		910		2.6	50.06
$ 51.01 – $ 55.00	1,164		3.9	52.75		592		3.6	52.90
$ 55.01 – $ 65.00	954		2.7	57.52		766		2.4	57.86
$ 65.01 – $ 77.62	1,009		1.6	66.95		1,009		1.6	66.95
	6,211		3.0	$	52.95	4,519		2.5	$	53.94
Intrinsic value (in thousands)	$	49,754				$	33,849

Summary of nonvested atock activity

The following table summarizes nonvested stock activity, including restricted stock equivalents issued in lieu of cash dividends:



	2014				2013				2012
	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	2,653		$	50.56	2,323		$	50.47	1,946		$	51.11
Granted	910		56.13		1,189		49.22		1,038		48.86
Vested	(818	)	50.69		(706	)	48.00		(492	)	49.77
Forfeited	(314	)	51.47		(153	)	50.48		(169	)	50.04
Balance at end of year	2,431		$	52.29	2,653		$	50.56	2,323		$	50.47