STOCK-BASED COMPENSATION PLAN (Tables)
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12 Months Ended |
Feb. 02, 2019 |
Feb. 03, 2018 |
Jan. 30, 2016 |
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs |
Total stock-based compensation expense was recorded in the accompanying consolidated statements of operations as follows:
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Year Ended |
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February 2, |
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February 3, |
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January 28, |
(in millions) |
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2019 |
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2018 |
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2017 |
Cost of sales |
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$ |
12.1 |
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$ |
12.8 |
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$ |
10.8 |
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Selling, general and administrative expense |
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51.2 |
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53.0 |
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49.5 |
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Total stock-based compensation expense |
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$ |
63.3 |
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$ |
65.8 |
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$ |
60.3 |
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| Schedule of Nonvested Restricted Stock Units Activity |
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The following table summarizes the status of RSUs as of February 2, 2019 and changes during the year then ended:
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Number of Shares |
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Weighted Average Grant Date Fair Value |
Nonvested at February 3, 2018 |
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1,525,252 |
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$ |
79.37 |
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Granted |
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838,335 |
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94.34 |
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Vested |
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(681,202 |
) |
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79.84 |
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Forfeited |
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(236,285 |
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84.23 |
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Nonvested at February 2, 2019 |
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1,446,100 |
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$ |
86.96 |
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| Schedule of Share-based Compensation, Stock Options, Activity |
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The following tables summarize information about options outstanding at February 2, 2019 and changes during the year then ended:
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Number of Shares |
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Weighted Average Per Share Exercise Price |
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Weighted Average Remaining Term |
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Aggregate Intrinsic Value
(in millions)
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Outstanding, beginning of period |
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523,083 |
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$ |
70.14 |
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Granted |
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9,804 |
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87.82 |
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Exercised |
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(136,073 |
) |
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54.89 |
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Forfeited |
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(29,618 |
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71.05 |
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Outstanding, end of period |
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367,196 |
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$ |
76.17 |
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5.94 |
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$ |
5.3 |
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Options vested and exercisable at February 2,
2019 |
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230,378 |
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$ |
77.41 |
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5.94 |
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$ |
3.0 |
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| Schedule of options outstanding and exercisable, by range of exercise prices |
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Options Outstanding |
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Options Exercisable |
Range of Exercise Prices |
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Options Outstanding at February 2, 2019 |
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Weighted Average Remaining Contractual Life |
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Weighted Average Exercise Price |
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Options Exercisable at February 2, 2019 |
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Weighted Average Exercise Price |
$56.90 to $76.72 |
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181,940 |
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5.61 |
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$ |
73.97 |
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46,196 |
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$ |
73.73 |
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$76.73 to $76.97 |
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151,404 |
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5.70 |
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76.97 |
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151,404 |
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76.97 |
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$76.98 to $79.75 |
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12,031 |
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6.38 |
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78.14 |
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10,957 |
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78.10 |
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$79.76 to $85.00 |
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11,581 |
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7.77 |
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82.46 |
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11,581 |
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82.46 |
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$85.01 to $107.31 |
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10,240 |
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8.82 |
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94.02 |
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10,240 |
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94.02 |
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$56.90 to $107.31 |
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367,196 |
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5.94 |
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$ |
76.17 |
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230,378 |
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$ |
77.41 |
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| Weighted average assumptions |
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The fair value of the employees’ purchase rights is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:
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Fiscal 2018 |
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Fiscal 2017 |
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Fiscal 2016 |
Expected term |
3 months |
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3 months |
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3 months |
Expected volatility |
18.8 |
% |
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10.9 |
% |
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14.6 |
% |
Annual dividend yield |
— |
% |
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— |
% |
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— |
% |
Risk free interest rate |
1.9 |
% |
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1.1 |
% |
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0.4 |
% |
The weighted average assumptions used in the Black-Scholes option pricing model for the officer award granted in 2016 are as follows:
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Fiscal 2016 |
Expected term in years |
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6.50 |
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Expected volatility |
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24.51 |
% |
Annual dividend yield |
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— |
% |
Risk free interest rate |
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2.09 |
% |
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Weighted-average fair value of options granted
during the period
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$ |
22.10 |
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