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Stockholders' Equity and Share-Based Compensation
 9 Months Ended
Oct. 29, 2023
Share-Based Payment Arrangement [Abstract]  
Stockholders' Equity and Share-Based Compensation Stockholders' Equity and Share-Based Compensation
Share issuances and repurchases
The Company treats shares withheld for tax purposes on behalf of our employees in connection with the vesting of time-based and performance restricted stock units as common stock repurchases because they reduce the number of shares that would have been issued upon vesting. These were immaterial for all periods presented.
On March 27, 2023, our Board of Directors approved a share repurchase program with an authorization limit of $100.0. On April 19, 2023, our Board of Directors approved an increase to the authorization limit of $200.0 for a total of $300.0 authorized under the program. On September 4, 2023 our Board of Directors approved an increase to the authorization limit of $100.0 for a total of $400.0 authorized under the program. During the thirty-nine weeks ended October 29, 2023, the Company repurchased 8.49 million shares at an average of $35.35 per share. The remaining dollar value of shares that may be repurchased under the program is $100.0 as of October 29, 2023. Future decisions to repurchase shares continue to be at the discretion of the Board of Directors and will be dependent on our operating performance, financial condition, capital expenditure requirements and other factors that the Board of Directors considers relevant.
Share-based compensation
Our compensation expense related to share-based compensation was as follows:
Thirteen Weeks EndedThirty-Nine Weeks Ended
October 29, 2023October 30, 2022October 29, 2023October 30, 2022
General and administrative expenses$3.5 $3.2 $15.4 $11.5 
Our share-based compensation award activity during the thirty-nine weeks ended October 29, 2023 was as follows:
Options Restricted
Stock Units 		Total
Outstanding at January 29, 20230.981.892.87
Granted0.080.260.34
Exercised(0.04)—(0.04)
RSU vestings n/a (0.29)(0.29)
Forfeited(0.11)(0.31)(0.42)
Outstanding at October 29, 20230.911.552.46
Remaining unrecognized compensation expense$4.6 $30.2 $34.8 
The fair value of our time-based and performance-based restricted stock units is based on our closing stock price on the date of grant. The grant date fair value of stock options was determined using the Black-Scholes option valuation model. The grant date fair value of performance-based awards with market conditions was determined using the Monte Carlo valuation model. The unrecognized expense will all be substantially recognized by the end of fiscal 2025.
During the thirty-nine weeks ended October 29, 2023, the Company granted certain options, time-based, performance-based, and market-based restricted stock units to employees and directors of the Company. These grants vest over a range of one year to five years. Certain of the market-based restricted stock units can vest earlier if the targets are achieved prior to that time. As a result, the requisite service period for such grants was determined to be less than the explicit service period.