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Stock-Based Compensation (Tables)

12 Months Ended

Feb. 01, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation

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

			2024						2023						2022
Restricted stock expense			$	43,130					$	36,196					$	36,261
Performance-based restricted stock expense			27,557						19,053						10,585
Stock option expense			314						2,036						3,757
Total stock-based compensation expense			$	71,001					$	57,285					$	50,603
Total related tax benefit			$	12,768					$	10,616					$	9,730

Schedule of nonvested restricted stock activity

Restricted stock activity for fiscal 2024 is presented in the following table:

			Restricted Stock
			Shares						Weighted Average Grant Date Fair Value						Intrinsic Value (in millions)
Nonvested, February 3, 2024			1,156,146						$	110.17					$	180.3
Granted			265,969						209.61
Vested			(364,991)						101.59
Forfeited			(58,768)						122.92
Nonvested, February 1, 2025			998,356						$	139.05					$	239.7

Schedule of nonvested performance-based restricted stock activity

Performance-based restricted stock activity for fiscal 2024 is presented in the following table:

			Performance-based Restricted Stock
			Shares/Units						Weighted Average Grant Date Fair Value						Intrinsic Value (in millions)
Nonvested, February 3, 2024			543,717						$	112.12					$	84.8
Granted (1)			88,417						203.88
Vested			(208,310)						79.27
Forfeited			(18,069)						138.18
Nonvested, February 1, 2025			405,755						$	147.82					$	97.4

(1)Includes 10,004 awards with a weighted-average grant date fair value of $147.17 that were issued during fiscal 2024 based on the determination of actual performance criteria attainment of 110% for awards granted in fiscal 2023. These awards are expected to vest in fiscal 2026.

Schedule of stock option activity

Fiscal 2024 stock option activity 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 millions)
Outstanding, February 3, 2024			2,060,026						$	18.72					2.61						$	282.7
Exercised			(714,542)						25.18
Forfeited / Expired			(2,271)						39.18
Outstanding, February 1, 2025			1,343,213						$	15.25					1.98						$	302.0
Exercisable, February 1, 2025			1,342,841						$	15.23					1.98						$	301.9
Vested or expected to vest, February 1, 2025			1,343,209						$	15.25					1.98						$	302.0

The following table presents stock option information for the last three fiscal years (in millions):

			2024						2023						2022
Total intrinsic value of stock options exercised			$	140.7					$	69.2					$	71.4
Income tax benefit from the exercise of stock options			$	16.7					$	13.7					$	11.6
Total fair value of stock options vested			$	1.8					$	3.3					$	4.9

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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