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Stock-Based Compensation and Employee Stock Plans (Tables)

12 Months Ended

Jan. 30, 2016

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):

	2015				2014				2013
Stock option expense	$	8,211			$	7,903			$	8,263
Restricted stock expense	21,077				18,372				18,856
Total stock-based compensation expense	$	29,288			$	26,275			$	27,119
Total related tax benefit	$	10,290			$	9,200			$	9,230

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	2015				2014				2013
Expected life (years) (1)	5.41				5.23				5.33
Expected volatility (2)	30.38% - 42.07%				31.97% - 44.48%				36.10% - 47.86%
Weighted average volatility	32.67		%		36.28		%		46.71		%
Risk-free interest rate (3)	1.28% - 1.74%				1.44% - 2.39%				0.73% - 1.73%
Expected dividend yield	0.98% - 1.12%				0.90% - 1.13%				0.98% - 1.04%
Weighted average grant date fair value	$	16.28			$	17.31			$	18.31

⁽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.

Schedule of stock option activity

The stock option activity from February 2, 2013 through January 30, 2016 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, 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
Granted	559,722			53.78
Exercised	(1,175,540	)		22.22
Forfeited / Expired	(256,931	)		44.42
Outstanding, January 31, 2015	4,081,298			$	32.83			3.00		$	78,432
Granted	812,482			56.97
Exercised	(773,773	)		26.64
Forfeited / Expired	(145,495	)		51.38
Outstanding, January 30, 2016	3,974,512			$	38.29			2.94		$	51,930
Exercisable, January 30, 2016	2,553,304			$	29.42			1.51		$	51,159
Vested and expected to vest, January 30, 2016	3,805,506			$	37.55			2.81		$	51,863

Schedule of nonvested stock option activity

The nonvested stock option activity for the year ended January 30, 2016 is presented in the following table:

	Shares Subject to Options			Weighted Average Grant Date Fair Value
Nonvested, January 31, 2015	1,206,844			$	18.10
Granted	812,482			16.28
Vested	(462,175	)		18.26
Forfeited	(135,943	)		17.87
Nonvested, January 30, 2016	1,421,208			$	17.03

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

Additional information regarding options outstanding as of January 30, 2016 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
$13.82 - $26.03		1,077,719			0.32		$	17.90			1,077,719			$	17.90
$26.77 - $44.88		1,002,241			1.68		32.16				956,369			31.57
$45.34 - $55.29		1,244,756			4.57		50.38				508,268			49.22
$55.49 - $58.48		649,796			6.09		58.40				10,948			56.65
$13.82 - $58.48		3,974,512			2.94		$	38.29			2,553,304			$	29.42

Schedule of nonvested restricted stock activity

The restricted stock activity from February 2, 2013 through January 30, 2016 is presented in the following table:

	Shares			Weighted Average Grant Date Fair Value
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
Granted	593,841			53.36
Vested	(433,249	)		39.99
Forfeited	(406,127	)		48.40
Nonvested, January 31, 2015	2,186,119			$	48.67
Granted	661,640			56.95
Vested	(400,951	)		48.59
Forfeited	(241,828	)		50.52
Nonvested, January 30, 2016	2,204,980			$	50.97

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