Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v2.4.0.6
Stock Based Compensation (Tables)
12 Months Ended
Feb. 02, 2013
Components of Stock Based Compensation Expense
Stock-based compensation expense included the following components:
 
 
2012
 
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



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:
 
 
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

 
5.5 years

Schedule of Stock Option Activity
Activity related to stock options for 2012 is as follows:
 
 
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

 
$
39.84

 
 
 
 
Canceled or forfeited
(670.5
)
 
$
31.58

 
 
 
 
Exercised
(7,569.7
)
 
$
21.69

 
 
 
 
Outstanding, end of period
29,792.9

 
$
29.07

 
 
 
 
Exercisable, end of period
19,991.4

 
$
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:
 
 
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

Activity Related to Stock Credits
Activity related to stock credits for 2012 is as follows:
 
 
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

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:
 
 
2012
 
2011
 
2010
Restricted stock
$

 
$
23.43

 
$
20.89

Restricted stock units
$
39.52

 
$
23.69

 
$
20.95

Restricted Stock [Member]
 
Activity Related to Restricted Stock and Restricted Stock Units
Activity related to restricted stock awards for 2012 is as follows:
 
 
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

 
$
22.36

Restricted Stock Units [Member]
 
Activity Related to Restricted Stock and Restricted Stock Units
Activity related to restricted stock units for 2012 is as follows:
 
 
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

 

Granted – time-based
287.3

 
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

 
$
26.61