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Stock-Based Compensation (Tables)

9 Months Ended

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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