Share-Based Compensation (Tables)

6 Months Ended

Jul. 28, 2012

A summary of the Company’s stock option activity for the 26 weeks ended July 28, 2012 follows:


	Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
	(In thousands)					(In years)		(In thousands)
Outstanding—January 28, 2012		11,197		$	15.31
Granted		1,046		$	14.26
Exercised (1)		(1,946	)	$	9.55
Cancelled		(597	)	$	14.62

Outstanding—July 28, 2012		9,700		$	16.39		2.2	$	55,957

Vested and expected to vest—July 28, 2012		9,579		$	16.41		2.2	$	55,261

Exercisable—July 28, 2012 (2)		6,425		$	13.88		1.7	$	45,242

(1)	Options exercised during the 26 weeks ended July 28, 2012 had exercise prices ranging from $4.54 to $20.62.

(2)	Options exercisable represent “in-the-money” vested options based upon the weighted average exercise price of vested options compared to the Company’s stock price at July 28, 2012.

Black-Scholes Option Valuation Assumptions

The fair value of stock options was estimated based on the closing market price of the Company’s common stock on the date of the grant using a Black-Scholes option pricing model with the following weighted-average assumptions:


	26 Weeks Ended
Black-Scholes Option Valuation Assumptions	July 28, 2012			July 30, 2011
Risk-free interest rate (1)		0.6	%		2.1	%
Dividend yield		2.8	%		2.6	%
Volatility factor (2)		41.2	%		42.7	%
Weighted-average expected term (3)		4.0 years			5.0 years
Expected forfeiture rate (4)		8.0	%		8.0	%

(1)	Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.

(2)	Based on a combination of historical volatility of the Company’s common stock and implied volatility.

(3)	Represents the period of time options are expected to be outstanding, based on historical experience.

(4)	Based upon historical experience.

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity is presented in the following tables:


	Time-Based Restricted Stock Units					Performance-Based Restricted Stock Units
	26 Weeks Ended July 28, 2012					26 Weeks Ended July 28, 2012
(Shares in thousands)	Shares			Weighted-Average Grant Date Fair Value		Shares			Weighted-Average Grant Date Fair Value
Nonvested - January 28, 2012		1,784		$	15.73		1,762		$	14.23
Granted		1,497			14.77		888			14.76
Vested		(1,074	)		16.65		—			—
Cancelled		(588	)		16.17		(401	)		11.70

Nonvested - July 28, 2012		1,619		$	14.07		2,249		$	14.89