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Stock-Based Compensation | 3 Months Ended
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Apr. 30, 2016
Share-based Compensation [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Stock-based compensation. For the three month periods ended April 30, 2016 and May 2, 2015, the Company recognized stock-based compensation expense as follows:
| Three Months Ended
($000) | April 30, 2016 |  |  | May 2, 2015 |
Restricted stock | $ | 9,065 |  |  | $ | 8,573 |
Performance awards | 7,949 |  |  | 5,106 |
Employee stock purchase plan | 702 |  |  | 609 |
Total | $ | 17,716 |  |  | $ | 14,288 |
Total stock-based compensation recognized in the Company's Condensed Consolidated Statements of Earnings for the three month periods ended April 30, 2016 and May 2, 2015 is as follows:
| Three Months Ended
Statements of Earnings Classification ($000) | April 30, 2016 |  |  | May 2, 2015 |
Cost of goods sold | $ | 7,830 |  |  | $ | 7,063 |
Selling, general and administrative | 9,886 |  |  | 7,225 |
Total | $ | 17,716 |  |  | $ | 14,288 |
Restricted stock. The Company grants shares of restricted stock or restricted stock units to directors, officers, and key employees. The market value of shares of restricted stock and of the stock underlying restricted stock units at the date of grant is amortized to expense over the vesting period of generally three to five years. During the three month periods ended April 30, 2016 and May 2, 2015, shares purchased by the Company for tax withholding totaled 636,997 and 1,173,198, respectively, and are considered treasury shares which are available for reissuance. Performance shares. The Company has a performance share award program for senior executives. A performance share award represents a right to receive shares of restricted stock or restricted stock units on a specified settlement date based on the Company’s attainment of a profitability-based performance goal during the performance period, which is the Company’s fiscal year. If attained, the restricted stock or units then vest over a service period, generally two to three years from the date the performance award was granted. The release of shares related to restricted stock units earned are deferred generally for one year from the date earned. As of April 30, 2016, shares related to unvested restricted stock and performance share awards totaled 5.6 million shares. A summary of restricted stock and performance share award activity for the three month period ended April 30, 2016 is presented below:
(000, except per share data) | Number of shares |  |  | Weighted average grant date fair value |
Unvested at January 30, 2016 | 6,104 |  |  | $ | 34.87 |
Awarded | 1,154 |  |  | 56.41 |
Released | (1,575 | ) |  | 26.99 |
Forfeited | (81 | ) |  | 34.09 |
Unvested at April 30, 2016 | 5,602 |  |  | $ | 41.82 |
The unamortized compensation expense at April 30, 2016 was $130.2 million which is expected to be recognized over a weighted-average remaining period of 2.4 years. The unamortized compensation expense at May 2, 2015 was $120.9 million, which was expected to be recognized over a weighted-average remaining period of 2.3 years. Employee stock purchase plan. Under the Employee Stock Purchase Plan (“ESPP”), eligible employees participating in the quarterly offering period can choose to spend up to the lesser of 10% of their annual base earnings or the IRS annual share purchase limit of $25,000 in aggregate market value to purchase the Company’s common stock each year. The purchase price of the stock is 85% of the closing market price on the date of purchase. Purchases occur on on the last trading day of each calendar quarter. The Company recognizes expense for ESPP purchase rights equal to the value of the 15% discount given on the purchase date. Stock option activity. A summary of the stock option activity for the three month period ended April 30, 2016 is presented below:
(000, except per share data) | Number of shares |  |  | Weighted average exercise price |  |  | Weighted average remaining contractual term |  | Aggregate intrinsic value |
Outstanding at January 30, 2016 | 310 |  |  | $ | 7.34 |  |  |  |  |
Granted | — |  |  | — |  |  |  |  |
Exercised | (210 | ) |  | 7.26 |  |  |  |  |
Forfeited | — |  |  | — |  |  |  |  |
Outstanding at April 30, 2016, all vested | 100 |  |  | $ | 7.52 |  |  | 0.59 |  | $ | 4,928 |
No stock options were granted during the three month periods ended April 30, 2016 and May 2, 2015. The following table summarizes information about the weighted average remaining contractual life (in years) and the weighted average exercise prices for stock options both outstanding and exercisable as of April 30, 2016 (number of shares in thousands):
|  |  |  | Options outstanding and exercisable
Exercise price range |  | Number of shares |  |  | Remaining life |  | Exercise price |
$ | 6.08 |  | to | $ | 6.35 |  |  | 8 |  |  | 0.34 |  | $ | 6.22 |
6.89 |  | to | 6.89 |  |  | 37 |  |  | 0.05 |  | 6.89 |
7.66 |  | to | 8.19 |  |  | 55 |  |  | 1.00 |  | 8.13 |
$ | 6.08 |  | to | $ | 8.19 |  |  | 100 |  |  | 0.59 |  | $ | 7.52 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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