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Shareholders' Equity (Tables) | 12 Months Ended
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Jan. 28, 2023
Shareholders' Equity [Abstract] |
Stock-Based Compensation Expense |
| 2023 |  | 2022 |  | 2021
Share awards: |  |  |  |  |  |  |  |  |  |  |
Time-based | $ | 121 |  |  | $ | 109 |  |  | $ | 99 |
Performance-based |  | - |  |  |  | 17 |  |  |  | 21 |
Market-based |  | 14 |  |  |  | 12 |  |  |  | 11 |
Stock options |  | 3 |  |  |  | 3 |  |  |  | 4 |
Stock-based compensation expense |  | 138 |  |  |  | 141 |  |  |  | 135 |
Income tax benefits |  | 27 |  |  |  | 26 |  |  |  | 25 |
Stock-based compensation expense, net of tax | $ | 111 |  |  | $ | 115 |  |  | $ | 110 |
Time-Based Share Awards |
Time-Based Share Awards | Shares |  | Weighted-Average Fair Value per Share
Outstanding as of January 29, 2022 | 3,396 |  |  | $ | 80.30 |
Granted | 1,674 |  |  | $ | 98.05 |
Vested and distributed | (1,642) |  |  | $ | 75.55 |
Forfeited | (382) |  |  | $ | 92.16 |
Outstanding as of January 28, 2023 | 3,046 |  |  | $ | 90.96 |
Performance-Based Share Awards |
Performance-Based Share Awards | Shares |  | Weighted-Average Fair Value per Share
Outstanding as of January 29, 2022 | 673 |  |  | $ | 68.40 |
Granted | 31 |  |  | $ | 85.19 |
Adjustment for performance achievement | 30 |  |  | $ | 68.91 |
Distributed | (424) |  |  | $ | 70.71 |
Forfeited | (22) |  |  | $ | 60.48 |
Outstanding as of January 28, 2023 | 288 |  |  | $ | 67.36 |
Market-Based Share Awards |
Market-Based Share Awards | Shares |  | Weighted-Average Fair Value per Share
Outstanding as of January 29, 2022 | 524 |  |  | $ | 80.78 |
Granted | 227 |  |  | $ | 112.62 |
Adjustment for performance achievement | 9 |  |  | $ | 72.87 |
Distributed | (211) |  |  | $ | 72.87 |
Forfeited | (35) |  |  | $ | 91.31 |
Outstanding as of January 28, 2023 | 514 |  |  | $ | 96.61 |
Stock Option Activity |
| Stock Options ‎(in thousands) |  | Weighted-Average ‎ Exercise Price ‎per Share |  | Weighted-Average ‎ Remaining Contractual Term ‎(in years) |  | Aggregate ‎Intrinsic Value ‎(in millions)
Outstanding as of January 29, 2022 | 835 |  |  | $ | 57.39 |  |  |  |  |  |  |  |  |
Exercised | (112) |  |  | $ | 34.83 |  |  |  |  |  |  |  |  |
Forfeited | (3) |  |  | $ | 51.63 |  |  |  |  |  |  |  |  |
Outstanding as of January 28, 2023 | 720 |  |  | $ | 60.91 |  |  |  | 5.6 |  |  | $ | 17 |
Vested or expected to vest as of January 28, 2023 | 720 |  |  | $ | 60.91 |  |  |  | 5.6 |  |  | $ | 17 |
Exercisable as of January 28, 2023 | 368 |  |  | $ | 54.94 |  |  |  | 4.9 |  |  | $ | 11 |
Black Scholes Valuation Model Assumptions |
Valuation Assumptions | 2021
Risk-free interest rate(1) |  | 0.1 | % | - | 0.9 | %
Expected dividend yield |  | 2.9 | %
Expected stock price volatility(2) |  | 56 | %
Expected life of stock options (in years)(3) |  | 6.3 |
(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)Estimated based upon historical experience.
Stock Options Outstanding |
| Exercisable |  | Unexercisable |  | Total
| Shares |  | % |  | Weighted- ‎Average Price ‎per Share |  | Shares |  | % |  | Weighted- ‎Average Price ‎per Share |  | Shares |  | % |  | Weighted- ‎Average Price ‎per Share
In-the-money | 0.4 |  |  | 51% |  | $ | 54.94 |  |  | 0.3 |  |  | 49% |  | $ | 67.13 |  |  | 0.7 |  |  | 100% |  | $ | 60.91 |
Earnings Per Share |
| 2023 |  | 2022 |  | 2021
Numerator |  |  |  |  |  |  |  |  |  |  |
Net earnings | $ | 1,419 |  |  | $ | 2,454 |  |  | $ | 1,798 |
Denominator |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  | 224.8 |  |  |  | 246.8 |  |  |  | 259.6 |
Dilutive effect of stock compensation plan awards |  | 0.9 |  |  |  | 2.5 |  |  |  | 3.4 |
Weighted-average common shares outstanding, assuming dilution |  | 225.7 |  |  |  | 249.3 |  |  |  | 263.0 |
Potential shares which were anti-dilutive and excluded from weighted-average share computations |  | 0.7 |  |  |  | 0.1 |  |  |  | - |
Basic earnings per share | $ | 6.31 |  |  | $ | 9.94 |  |  | $ | 6.93 |
Diluted earnings per share | $ | 6.29 |  |  | $ | 9.84 |  |  | $ | 6.84 |
Share Repurchases |
| 2023 |  | 2022 |  | 2021
Total cost of shares repurchased | $ | 1,001 |  |  | $ | 3,504 |  |  | $ | 318 |
Average price per share | $ | 84.78 |  |  | $ | 108.97 |  |  | $ | 102.63 |
Number of shares repurchased and retired |  | 11.8 |  |  |  | 32.2 |  |  |  | 3.1 |

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