|
Stock Based Compensation (Tables)
|
12 Months Ended |
|
Feb. 02, 2013
|
| Components of Stock Based Compensation Expense |
Stock-based compensation expense included the following components:
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2012 |
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2011 |
|
2010 |
|
(millions) |
Stock options |
$ |
28 |
|
|
$ |
28 |
|
|
$ |
34 |
|
Stock credits |
6 |
|
|
20 |
|
|
19 |
|
Restricted stock |
1 |
|
|
2 |
|
|
2 |
|
Restricted stock units |
26 |
|
|
20 |
|
|
11 |
|
|
$ |
61 |
|
|
$ |
70 |
|
|
$ |
66 |
|
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| Weighted Average Assumption Used To Estimate Fair Value of Stock Options |
The fair value of stock-options granted during 2012, 2011 and 2010 and the weighted average assumptions used to estimate the fair value are as follows:
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2012 |
|
2011 |
|
2010 |
Weighted average grant date fair value of stock options
granted during the period |
$ |
12.22 |
|
|
$ |
7.12 |
|
|
$ |
7.34 |
|
Dividend yield |
2.2 |
% |
|
2.3 |
% |
|
1.0 |
% |
Expected volatility |
39.8 |
% |
|
38.8 |
% |
|
37.6 |
% |
Risk-free interest rate |
1.2 |
% |
|
2.0 |
% |
|
2.7 |
% |
Expected life |
5.7 years |
|
|
5.6 years |
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|
5.5 years |
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| Schedule of Stock Option Activity |
Activity related to stock options for 2012 is as follows:
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Shares |
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Life
|
|
Aggregate
Intrinsic
Value
|
|
(thousands) |
|
|
|
(years) |
|
(millions) |
Outstanding, beginning of period |
34,405.3 |
|
|
$ |
26.36 |
|
|
|
|
|
Granted |
3,627.8 |
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|
$ |
39.84 |
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|
|
|
Canceled or forfeited |
(670.5 |
) |
|
$ |
31.58 |
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|
Exercised |
(7,569.7 |
) |
|
$ |
21.69 |
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|
Outstanding, end of period |
29,792.9 |
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|
$ |
29.07 |
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Exercisable, end of period |
19,991.4 |
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|
$ |
30.09 |
|
|
4.0 |
|
$ |
188 |
|
Options expected to vest |
8,429.3 |
|
|
$ |
26.99 |
|
|
8.0 |
|
$ |
106 |
|
|
| Additional Information Relating to Stock Options |
Additional information relating to stock options is as follows:
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2012 |
|
2011 |
|
2010 |
|
(millions) |
Intrinsic value of options exercised |
$ |
132 |
|
|
$ |
64 |
|
|
$ |
13 |
|
Grant date fair value of stock options that vested during the year |
30 |
|
|
50 |
|
|
55 |
|
Cash received from stock options exercised |
164 |
|
|
141 |
|
|
39 |
|
Excess tax benefits realized from exercised stock options |
36 |
|
|
20 |
|
|
4 |
|
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| Activity Related to Stock Credits |
Activity related to stock credits for 2012 is as follows:
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|
Shares |
|
(thousands) |
Stock credits, beginning of period |
1,649.9 |
|
Additional dividend equivalents earned |
17.2 |
|
Stock credits forfeited |
— |
|
Stock credits distributed |
(830.8 |
) |
Stock credits, end of period |
836.3 |
|
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| Fair Value of Restricted Stock Awards and Restricted Stock Units Granted |
Restricted Stock and Restricted Stock Units
The weighted average grant date fair value of restricted stock and restricted stock units granted during 2012, 2011 and 2010 are as follows:
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2012 |
|
2011 |
|
2010 |
Restricted stock |
$ |
— |
|
|
$ |
23.43 |
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|
$ |
20.89 |
|
Restricted stock units |
$ |
39.52 |
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|
$ |
23.69 |
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|
$ |
20.95 |
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Restricted Stock [Member]
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| Activity Related to Restricted Stock and Restricted Stock Units |
Activity related to restricted stock awards for 2012 is as follows:
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Shares |
|
Weighted
Average
Grant Date
Fair Value
|
|
(thousands) |
|
|
Nonvested, beginning of period |
213.6 |
|
|
$ |
22.23 |
|
Granted |
— |
|
|
— |
|
Forfeited |
(10.8 |
) |
|
21.46 |
|
Vested |
(60.5 |
) |
|
22.07 |
|
Nonvested, end of period |
142.3 |
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|
$ |
22.36 |
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Restricted Stock Units [Member]
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| Activity Related to Restricted Stock and Restricted Stock Units |
Activity related to restricted stock units for 2012 is as follows:
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Shares |
|
Weighted
Average
Grant Date
Fair Value
|
|
(thousands) |
|
|
Nonvested, beginning of period |
4,806.3 |
|
|
$ |
12.47 |
|
Granted – performance-based |
398.7 |
|
|
39.68 |
|
Performance adjustment |
— |
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|
— |
|
Granted – time-based |
287.3 |
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|
39.31 |
|
Dividend equivalents |
54.4 |
|
|
38.46 |
|
Forfeited |
(55.7 |
) |
|
25.15 |
|
Vested |
(2,642.5 |
) |
|
4.52 |
|
Nonvested, end of period |
2,848.5 |
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|
$ |
26.61 |
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