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Stock-Based Compensation and Employee Stock Plans (Tables)

12 Months Ended

Feb. 01, 2014

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

Schedule of stock-based compensation

The following represents total stock-based compensation recognized in the Consolidated Statements of Income for the fiscal years presented (in thousands):

	2013				2012				2011
Stock option expense	$	8,263			$	10,215			$	9,734
Restricted stock expense	18,856				21,966				14,185
Total stock-based compensation expense	$	27,119			$	32,181			$	23,919
Total related tax benefit	$	9,230			$	11,561			$	8,947

Schedule of assumptions used to estimate the fair value of stock-based awards to employees

The fair value of stock-based awards to employees is estimated on the date of grant using the Black-Scholes valuation with the following assumptions:

	Employee Stock Option Plans
Black-Scholes Valuation Assumptions	2013				2012				2011
Expected life (years) (1)	5.33				5.70				5.76
Expected volatility (2)	36.10% - 47.86%				44.52% - 49.38%				44.27% - 48.93%
Weighted average volatility	46.71		%		47.25		%		46.16		%
Risk-free interest rate (3)	0.73% - 1.73%				0.59% - 1.57%				0.89% - 2.70%
Expected dividend yield (4)	0.98% - 1.04%				0.98% - 1.25%				—
Weighted average grant date fair value	$	18.31			$	19.24			$	18.06

⁽¹⁾  The expected term of the options represents the estimated period of time until exercise and is based on historical experience of similar awards giving consideration to the contractual terms, vesting schedules and expectations of future employee behavior.

⁽²⁾  Expected volatility is based on the historical volatility of the Company's common stock over a timeframe consistent with the expected life of the stock options.

⁽³⁾  The risk-free interest rate is based on the implied yield available on U.S. Treasury constant maturity interest rates whose term is consistent with the expected life of the stock options.

⁽⁴⁾  The Company declared its first dividend in December 2011. Options granted subsequent to the declaration of the initial dividend reflect the anticipated future cash dividend payouts.

Schedule of stock option activity

The stock option activity from January 29, 2011 through February 1, 2014 is presented in the following table:

	Shares Subject to Options			Weighted Average Exercise Price per Share				Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (in thousands)
Outstanding, January 29, 2011	13,693,877			$	16.91			4.13		$	258,697
Granted	639,047			39.78
Exercised	(2,420,960	)		13.67
Forfeited / Expired	(253,875	)		27.75
Outstanding, January 28, 2012	11,658,089			$	18.60			3.45		$	262,995
Granted	581,665			48.35
Exercised	(5,431,053	)		14.38
Forfeited / Expired	(99,977	)		25.48
Outstanding, February 2, 2013	6,708,724			$	24.50			3.60		$	157,380
Granted	682,344			47.31
Exercised	(2,154,201	)		20.18
Forfeited / Expired	(282,820	)		41.57
Outstanding, February 1, 2014	4,954,047			$	28.55			3.19		$	118,784
Exercisable, February 1, 2014	3,617,457			$	22.87			2.46		$	107,179
Vested and expected to vest, February 1, 2014	4,822,326			$	28.05			3.12		$	118,008

Schedule of nonvested stock option activity

The nonvested stock option activity for the year ended February 1, 2014 is presented in the following table:

	Shares Subject to Options			Weighted Average Grant Date Fair Value
Nonvested, February 2, 2013	2,616,875			$	11.88
Granted	682,344			18.31
Vested	(1,684,187	)		8.85
Forfeited	(278,442	)		17.07
Nonvested, February 1, 2014	1,336,590			$	17.90

Schedule of stock options outstanding and exercisable by range of exercise prices

Additional information regarding options outstanding as of February 1, 2014 is as follows:

		Options Outstanding									Options Exercisable
Range of Exercise Prices		Shares			Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price				Shares			Weighted Average Exercise Price
$8.17 - $17.98		1,307,546			1.76		$	14.97			1,307,546			$	14.97
$18.14 - $27.87		1,369,573			2.44		23.14				1,225,448			22.77
$28.09 - $44.61		1,238,804			3.42		32.67				977,697			30.77
$45.34 - $57.59		1,038,124			5.70		47.85				106,766			48.45
$8.17 - $57.59		4,954,047			3.19		$	28.55			3,617,457			$	22.87

Schedule of nonvested restricted stock activity

The restricted stock activity from January 29, 2011 through February 1, 2014 is presented in the following table:

	Shares			Weighted Average Grant Date Fair Value
Nonvested, January 29, 2011	1,991,068			$	24.11
Granted	658,393			39.54
Vested	(304,068	)		27.12
Forfeited	(254,960	)		27.12
Nonvested, January 28, 2012	2,090,433			$	28.16
Granted	542,221			48.55
Vested	(381,278	)		15.09
Forfeited	(159,281	)		32.76
Nonvested, February 2, 2013	2,092,095			$	35.48
Granted	1,806,949			46.85
Vested	(913,769	)		27.46
Forfeited	(553,621	)		39.93
Nonvested, February 1, 2014	2,431,654			$	45.93

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Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

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