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Stock-Based Compensation (Tables) | 6 Months Ended
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May 03, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Cost Related to Stock-Based Awards | Compensation costs related to stock-based compensation awards were as follows:
|  | Three Months Ended |  | Six Months Ended
(Dollars in millions) |  | May 3, 2024 |  | May 5, 2023 |  | May 3, 2024 |  | May 5, 2023
Stock option awards |  | $ | 3.3 |  |  | $ | 2.6 |  |  | $ | 8.1 |  |  | $ | 4.3 |
Performance share awards |  | 1.5 |  |  | 1.3 |  |  | 2.6 |  |  | 2.1 |
Restricted stock unit awards |  | 2.1 |  |  | 1.6 |  |  | 4.0 |  |  | 3.2 |
Unrestricted common stock awards |  | — |  |  | — |  |  | 0.6 |  |  | 1.1 |
Total compensation cost for stock-based compensation awards |  | $ | 6.9 |  |  | $ | 5.5 |  |  | $ | 15.3 |  |  | $ | 10.7 |
Schedule of Assumptions for Options Granted | The table below illustrates the weighted-average valuation assumptions used under the Black-Scholes valuation method for options granted in the first six months of the following fiscal periods:
|  | Fiscal 2024 |  | Fiscal 2023
Expected life of option in years |  | 6.37 |  | 6.32
Expected stock price volatility |  | 26.75% |  | 25.20%
Risk-free interest rate |  | 3.94% |  | 3.79%
Expected dividend yield |  | 1.15% |  | 0.95%
Per share weighted-average fair value at date of grant |  | $30.40 |  | $33.22

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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