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Shareholders' Equity Shareholders' Equity (Tables) | 12 Months Ended
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Feb. 03, 2018
Equity [Abstract] |
Stock-based compensation expense | Stock-based compensation expense was as follows in fiscal 2018, 2017 and 2016 ($ in millions):
| 2018 |  | 2017 |  | 2016
Stock options | $ | 6 |  |  | $ | 9 |  |  | $ | 15 |
Share awards: |  |  |  |  |
Market-based | 19 |  |  | 15 |  |  | 16 |
Performance-based | 13 |  |  | 6 |  |  | — |
Time-based | 91 |  |  | 78 |  |  | 73 |
Total | $ | 129 |  |  | $ | 108 |  |  | $ | 104 |
Stock option activity | Stock option activity was as follows in fiscal 2018:
| Stock Options |  | Weighted-Average Exercise Price per Share |  | Weighted-Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding at January 28, 2017 | 6,987,000 |  |  | $ | 36.61 |  |  |  |  |  |
Granted | 176,000 |  |  | $ | 44.85 |  |  |  |  |  |
Exercised | (3,931,000 | ) |  | $ | 40.05 |  |  |  |  |  |
Forfeited/canceled | (163,000 | ) |  | $ | 43.50 |  |  |  |  |  |
Outstanding at February 3, 2018 | 3,069,000 |  |  | $ | 32.32 |  |  | 5.1 |  | $ | 119 |
Vested or expected to vest at February 3, 2018 | 3,069,000 |  |  | $ | 32.32 |  |  | 5.1 |  | $ | 119 |
Exercisable at February 3, 2018 | 2,434,000 |  |  | $ | 30.40 |  |  | 3.5 |  | $ | 99 |
Black Scholes valuation model assumptions | In fiscal 2018, 2017 and 2016, we estimated the fair value of each stock option on the date of grant using a lattice or Black Scholes valuation model (for certain individuals) with the following assumptions:
Valuation Assumptions | 2018 |  | 2017 |  | 2016
Risk-free interest rate(1) | 0.9% – 2.6% |  |  | 0.5% – 2.0% |  |  | 0.1% – 2.1% |
Expected dividend yield | 3.0 | % |  | 3.5 | % |  | 2.3 | %
Expected stock price volatility(2) | 38 | % |  | 37 | % |  | 37 | %
Expected life of stock options (in years)(3) | 6.0 |  |  | 6.0 |  |  | 6.0 |
(1) | Based on the U.S. Treasury constant maturity interest rate whose term is consistent with the expected life of our stock options.
(2) | In projecting expected stock price volatility, we consider both the historical volatility of our stock price as well as implied volatilities from exchange-traded options on our stock.
(3) | We estimate the expected life of stock options based upon historical experience.
Summary of the status of nonvested market-based share awards | A summary of the status of our nonvested market-based share awards at February 3, 2018, and changes during fiscal 2018, were as follows:
Market-Based Share Awards | Shares |  | Weighted-Average Fair Value per Share
Outstanding at January 28, 2017 | 1,552,000 |  |  | $ | 32.99 |
Granted | 564,000 |  |  | $ | 42.40 |
Vested | (640,000 | ) |  | $ | 29.46 |
Forfeited/canceled | (54,000 | ) |  | $ | 35.81 |
Outstanding at February 3, 2018 | 1,422,000 |  |  | $ | 36.35 |
Summary of the status of nonvested time-based share awards | A summary of the status of our nonvested time-based share awards at February 3, 2018, and changes during fiscal 2018, were as follows:
Time-Based Share Awards | Shares |  | Weighted-Average Fair Value per Share
Outstanding at January 28, 2017 | 5,365,000 |  |  | $ | 31.57 |
Granted | 2,326,000 |  |  | $ | 43.52 |
Vested | (2,242,000 | ) |  | $ | 32.79 |
Forfeited/canceled | (399,000 | ) |  | $ | 36.07 |
Outstanding at February 3, 2018 | 5,050,000 |  |  | $ | 36.17 |
Summary of the status of nonvested performance-based share awards | A summary of the status of our nonvested performance-based share awards at February 3, 2018, and changes during fiscal 2018, were as follows:
Performance-Based Share Awards | Shares |  | Weighted-Average Fair Value per Share
Outstanding at January 28, 2017 | 438,000 |  |  | $ | 28.98 |
Granted | 416,000 |  |  | $ | 42.31 |
Vested | (146,000 | ) |  | $ | 28.98 |
Forfeited/canceled | (23,000 | ) |  | $ | 29.66 |
Outstanding at February 3, 2018 | 685,000 |  |  | $ | 37.04 |
Summary of stock options outstanding | At February 3, 2018, options to purchase 3.1 million shares of common stock were outstanding as follows (shares in millions):
| Exercisable |  | Unexercisable |  | Total
| Shares |  | % |  | Weighted- Average Price per Share |  | Shares |  | % |  | Weighted- Average Price per Share |  | Shares |  | % |  | Weighted- Average Price per Share
In-the-money | 2.4 |  |  | 100 | % |  | $ | 30.40 |  |  | 0.7 |  |  | 100 | % |  | $ | 39.71 |  |  | 3.1 |  |  | 100 | % |  | $ | 32.32 |
Reconciliation of the numerators and denominators of basic and diluted earnings per share | The following table presents a reconciliation of the numerators and denominators of basic and diluted earnings per share from continuing operations in fiscal 2018, 2017 and 2016 ($ and shares in millions, except per share amounts):
| 2018 |  | 2017 |  | 2016
Numerator |  |  |  |  |
Net earnings from continuing operations | $ | 999 |  |  | $ | 1,207 |  |  | $ | 807 |
Denominator |  |  |  |  |
Weighted-average common shares outstanding | 300.4 |  |  | 318.5 |  |  | 346.5 |
Effect of potentially dilutive securities: |  |  |  |  |
Stock options and other | 6.7 |  |  | 4.1 |  |  | 4.2 |
Weighted-average common shares outstanding, assuming dilution | 307.1 |  |  | 322.6 |  |  | 350.7 |
Net earnings per share from continuing operations |  |  |  |  |
Basic | $ | 3.33 |  |  | $ | 3.79 |  |  | $ | 2.33 |
Diluted | $ | 3.26 |  |  | $ | 3.74 |  |  | $ | 2.30 |
Repurchases of common stock | The following table presents information regarding the shares we repurchased and retired in fiscal 2018, 2017 and 2016 ($ and shares in millions, except per share amounts):
| 2018 |  | 2017 |  | 2016
Total cost of shares repurchased |  |  |  |  |
Open market(1) | $ | 2,009 |  |  | $ | 706 |  |  | $ | 880 |
January 2016 ASR | — |  |  | 45 |  |  | 120 |
Total | $ | 2,009 |  |  | $ | 751 |  |  | $ | 1,000 |
Average price per share |  |  |  |  |
Open market | $ | 57.16 |  |  | $ | 36.11 |  |  | $ | 31.03 |
January 2016 ASR | $ | — |  |  | $ | 28.55 |  |  | $ | 27.28 |
Average | $ | 57.16 |  |  | $ | 35.54 |  |  | $ | 30.53 |
Number of shares repurchased and retired |  |  |  |  |
Open market(1) | 35.1 |  |  | 19.5 |  | 28.4
January 2016 ASR | — |  |  | 1.6 |  | 4.4
Total | 35.1 |  |  | 21.1 |  | 32.8 |
(1) | As of February 3, 2018, and January 28, 2017, $13 million and $8 million, or 0.2 million and 0.1 million shares, in trades remained unsettled. The liability for unsettled trades is included in Accrued liabilities on our Consolidated Balance Sheets.
Components of accumulated other comprehensive income, net of tax | The following table provides a reconciliation of the components of accumulated other comprehensive income, net of tax, for fiscal 2018, 2017 and 2016, respectively ($ in millions):
| Foreign Currency Translation
Balance at January 31, 2015 | $ | 382 |
Foreign currency translation adjustments | (44 | )
Reclassification of foreign currency translation adjustments into earnings due to sale of business | (67 | )
Balance at January 30, 2016 | 271 |
Foreign currency translation adjustments | 10 |
Reclassification of foreign currency translation adjustments into earnings due to sale of business | (2 | )
Balance at January 28, 2017 | 279 |
Foreign currency translation adjustments | 35 |
Balance at February 3, 2018 | $ | 314 |

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