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Stock-Based Compensation (Tables) | 9 Months Ended
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Oct. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Non-Cash Stock Compensation Expense | Non-cash stock compensation expense is as follows:
|  | (in thousands) |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | October 30, |  |  | October 31, |  |  | October 30, |  |  | October 31, |
Type of Non-Cash Stock Compensation |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Restricted stock and restricted stock unit grants (a) |  | $ | 8,192 |  |  | $ | 6,410 |  |  | $ | 22,132 |  |  | $ | 19,048 |
Stock option grants (a) |  |  | 4,815 |  |  |  | 4,679 |  |  |  | 13,891 |  |  |  | 15,707 |
Performance stock unit grants (a) |  |  | 4,290 |  |  |  | 2,317 |  |  |  | 17,333 |  |  |  | 8,696 |
Total (b) |  | $ | 17,297 |  |  | $ | 13,406 |  |  | $ | 53,356 |  |  | $ | 43,451 |
(a) Included in the line item “Selling, general and administrative expenses” in the Company’s Condensed Consolidated Statements of Income (Loss). The amounts presented in the table above exclude taxes. For the three and nine month periods ended October 30, 2021, the tax benefit related to the Company’s non-cash stock compensation was approximately $3.1 million and $9.2 million, respectively. For the three and nine month periods ended October 31, 2020, the tax benefit related to the Company’s non-cash stock compensation was approximately $2.3 million and $8.3 million, respectively.
Stock Option Transactions | Stock option transactions during the nine month period ended October 30, 2021 are summarized as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |
Options outstanding, January 30, 2021 |  |  | 1,346,775 |  |  | $ | 133.86 |
Options granted |  |  | 209,244 |  |  |  | 315.81 |
Options exercised (a) |  |  | (346,436 | ) |  |  | 91.24 |
Options forfeited |  |  | (36,961 | ) |  |  | 192.20 |
Options outstanding, October 30, 2021 |  |  | 1,172,622 |  |  | $ | 177.08 |
(a) Options exercised during the nine month period ended October 30, 2021 had a total intrinsic value of $75.0 million.
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 of such options as of October 30, 2021:
|  | Options |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic Value (in millions) |
Options vested and expected to vest |  |  | 1,172,622 |  |  |  | 6.6 |  |  | $ | 177.08 |  |  | $ | 124.3 |
Options exercisable |  |  | 570,152 |  |  |  | 4.9 |  |  | $ | 136.73 |  |  | $ | 79.6 |
Weighted Average Assumptions Used to Estimate Fair Value of Each Stock Option Granted | The fair value of each stock option granted during the nine month period ended October 30, 2021 was estimated using the Black Scholes option pricing model using the following assumptions:
|  |  | Nine Months Ended
|  |  | October 30,
|  |  | 2021
Risk-free interest rate |  |  | 0.45% - 1.13%
Expected volatility |  |  | 34% - 35%
Expected life (years) |  |  | 6.00 - 6.25
Contractual life (years) |  |  | 10.0
Expected dividend yield |  |  | 0.0%
Weighted average grant date fair value of options issued |  | $ | 110.12
Award Grant and Vesting Transactions | Restricted stock transactions during the nine month period ended October 30, 2021 are summarized as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value Per Award |
Non-vested awards outstanding, January 30, 2021 |  |  | 396,555 |  |  | $ | 168.87 |
Awards granted |  |  | 139,792 |  |  |  | 319.52 |
Awards vested (a) |  |  | (152,896 | ) |  |  | 152.85 |
Awards forfeited |  |  | (16,816 | ) |  |  | 201.01 |
Non-vested awards outstanding, October 30, 2021 |  |  | 366,635 |  |  |  | 231.52 |
(a) Restricted stock awards vested during the nine month period ended October 30, 2021 had a total intrinsic value of $47.6 million.
Performance Stock Unit Transactions | Performance stock unit transactions during the nine month period ended October 30, 2021 are summarized as follows:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value Per Award |
Non-vested units outstanding, January 30, 2021 |  |  | 148,668 |  |  | $ | 176.70 |
Units granted |  |  | 55,294 |  |  |  | 321.13 |
Awards forfeited |  |  | (16,064 | ) |  |  | 216.23 |
Non-vested units outstanding, October 30, 2021 |  |  | 187,898 |  |  |  | 215.82 |

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