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Stock-Based Compensation (Tables) | 12 Months Ended
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Feb. 01, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Exercise Price of Service-Based Stock Options Granted | Options granted during Fiscal 2019, Fiscal 2018 and Fiscal 2017, were all service-based awards granted under the Plans at the following exercise prices:
|  | Exercise Price Ranges |
|  | From |  |  | To |
Fiscal 2019 |  | $ | 145.08 |  |  | $ | 231.86 |
Fiscal 2018 |  | $ | 113.80 |  |  | $ | 172.40 |
Fiscal 2017 |  | $ | 80.91 |  |  | $ | 110.50 |
Non-Cash Stock Compensation Expense | Non-cash stock compensation expense is as follows:
|  | (in thousands) |
|  | Fiscal Year Ended |
|  | February 1, |  |  | February 2, |  |  | February 3, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Type of Non-Cash Stock Compensation |  |  |  |  |  |  |  |  |  | (53 Weeks) |
Restricted stock grants (a) |  | $ | 20,454 |  |  | $ | 18,967 |  |  | $ | 15,864 |
Stock option grants (a) |  |  | 19,222 |  |  |  | 16,518 |  |  |  | 11,039 |
Stock option modification (b) |  |  | — |  |  |  | — |  |  |  | 131 |
Performance stock grants (a) |  |  | 4,252 |  |  |  | — |  |  |  | — |
Total (c) |  | $ | 43,928 |  |  | $ | 35,485 |  |  | $ | 27,034 |
(a) | Included in the line item “Selling, general and administrative expenses” in the Company’s Consolidated Statements of Income.
(b) | Represents non-cash compensation related to the May 2013 stock option modification as discussed above. Amounts are included in the line item “Stock option modification expense” in the Company’s Consolidated Statements of Income.
(c) | The amounts presented in the table above exclude the effect of income taxes. The tax benefit related to the Company’s non-cash stock compensation was $9.0 million, $9.7 million and $2.8 million during Fiscal 2019, Fiscal 2018 and Fiscal 2017, respectively.
Stock Option Transactions | Stock option transactions during Fiscal 2019 are summarized as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |
Options outstanding, February 2, 2019 |  |  | 2,337,316 |  |  | $ | 64.48 |
Options granted |  |  | 417,286 |  |  |  | 180.22 |
Options exercised (a) |  |  | (710,964 | ) |  |  | 48.14 |
Options forfeited |  |  | (152,683 | ) |  |  | 89.20 |
Options outstanding, February 1, 2020 |  |  | 1,890,955 |  |  | $ | 94.17 |
(a) | Options exercised during Fiscal 2019 had a total intrinsic value of $94.1 million.
Information about Options to Purchase Shares | The following table summarizes information about the options outstanding and exercisable as of February 1, 2020:
|  | Options Outstanding |  |  | Options Exercisable |
Exercise Prices |  | Number Outstanding at February 1, 2020 |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Number Exercisable at February 1, 2020 |  |  | Weighted Average Remaining Contractual Life (Years) |
$0.79 - $4.55 |  |  | 399,129 |  |  |  | 3.4 |  |  |  | 247,329 |  |  |  | 3.4 |
$26.96+ |  |  | 1,491,826 |  |  |  | 7.7 |  |  |  | 424,077 |  |  |  | 6.3 |
|  |  | 1,890,955 |  |  |  |  |  |  |  | 671,406 |  |  |  |  |
Stock Options Vested and Expected to Vest | The following table summarizes information about the stock options vested and expected to vest during the contractual term:
|  | Options |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value (in millions) |
Vested and expected to vest |  |  | 1,890,955 |  |  |  | 6.8 |  |  | $ | 94.17 |  |  | $ | 233.2 |
Weighted Average Assumptions Used to Estimate Fair Value of Each Stock Option Granted | The fair value of each stock option granted during Fiscal 2019 was estimated using the following assumptions:
|  | Fiscal Year Ended |
|  | February 1, |
|  | 2020 |
Risk-free interest rate |  | 1.47% - 3.00% |
Expected volatility |  | 32% - 36% |
Expected life (years) |  | 5.69 - 6.25 |
Contractual life (years) |  |  | 10.0 |
Expected dividend yield |  |  | 0.0% |
Weighted average grant date fair value of options issued |  | $ | 67.41 |
Award Grant and Vesting Transactions | Prior to May 1, 2019, the Company granted shares of restricted stock. Grants made on and after May 1, 2019 are in the form of restricted stock units. Award grant, vesting and forfeiture transactions during Fiscal 2019 are summarized as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value Per Award |
Non-vested awards outstanding, February 2, 2019 |  |  | 666,842 |  |  | $ | 81.93 |
Awards granted |  |  | 192,278 |  |  |  | 177.72 |
Awards vested (a) |  |  | (344,800 | ) |  |  | 67.48 |
Awards forfeited |  |  | (62,546 | ) |  |  | 101.32 |
Non-vested awards outstanding, February 1, 2020 |  |  | 451,774 |  |  |  | 131.03 |
| (a) | Restricted stock awards vested during Fiscal 2019 had a total intrinsic value of $60.1 million.
Performance Share Unit Transactions | Performance share unit transactions during Fiscal 2019 are summarized as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value Per Award |
Non-vested units outstanding, February 2, 2019 |  |  | — |  |  | $ | — |
Units granted |  |  | 89,448 |  |  |  | 173.51 |
Awards forfeited |  |  | (8,497 | ) |  |  | 170.08 |
Non-vested units outstanding, February 1, 2020 |  |  | 80,951 |  |  |  | 173.87 |

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