Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v2.4.0.8
Stock Based Compensation (Tables)
12 Months Ended
Feb. 01, 2014
Components of Stock Based Compensation Expense
Stock-based compensation expense included the following components:
 
 
2013
 
2012
 
2011
 
(millions)
Stock options
$
36

 
$
28

 
$
28

Restricted stock units
25

 
26

 
20

Restricted stock
1

 
1

 
2

Stock credits

 
6

 
20

 
$
62

 
$
61

 
$
70



Weighted Average Assumption Used To Estimate Fair Value of Stock Options
The fair value of stock options granted during 2013, 2012 and 2011 and the weighted average assumptions used to estimate the fair value are as follows:
 
 
2013
 
2012
 
2011
Weighted average grant date fair value of stock options
granted during the period
$
12.15

 
$
12.22

 
$
7.12

Dividend yield
2.8
%
 
2.2
%
 
2.3
%
Expected volatility
41.3
%
 
39.8
%
 
38.8
%
Risk-free interest rate
0.8
%
 
1.2
%
 
2.0
%
Expected life
5.7 years

 
5.7 years

 
5.6 years

Schedule of Stock Option Activity
Activity related to stock options for 2013 is as follows:
 
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value
 
(thousands)
 
 
 
(years)
 
(millions)
Outstanding, beginning of period
29,792.9

 
$
29.07

 
 
 
 
Granted
3,621.5

 
$
41.67

 
 
 
 
Canceled or forfeited
(485.0
)
 
$
33.47

 
 
 
 
Exercised
(9,615.8
)
 
$
26.44

 
 
 
 
Outstanding, end of period
23,313.6

 
$
32.02

 
 
 
 
Exercisable, end of period
14,365.6

 
$
30.20

 
3.9
 
$
330

Options expected to vest
7,874.3

 
$
34.95

 
8.1
 
$
144

Additional Information Relating to Stock Options
Additional information relating to stock options is as follows:
 
 
2013
 
2012
 
2011
 
(millions)
Intrinsic value of options exercised
$
207

 
$
132

 
$
64

Grant date fair value of stock options that vested during the year
31

 
30

 
50

Cash received from stock options exercised
254

 
164

 
141

Excess tax benefits realized from exercised stock options
51

 
36

 
20

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 2013, 2012 and 2011 are as follows:
 
 
2013
 
2012
 
2011
Restricted stock
$

 
$

 
$
23.43

Restricted stock units
$
42.54

 
$
39.52

 
$
23.69

Restricted Stock [Member]
 
Activity Related to Restricted Stock and Restricted Stock Units
Activity related to restricted stock awards for 2013 is as follows:
 
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
(thousands)
 
 
Nonvested, beginning of period
142.3

 
$
22.36

Granted

 

Forfeited
(5.7
)
 
21.84

Vested
(57.4
)
 
22.11

Nonvested, end of period
79.2

 
$
22.58

Restricted Stock Units [Member]
 
Activity Related to Restricted Stock and Restricted Stock Units
Activity related to restricted stock units for 2013 is as follows:
 
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
(thousands)
 
 
Nonvested, beginning of period
2,848.5

 
$
26.61

Granted – performance-based
393.1

 
42.68

Performance adjustment
(119.4
)
 
39.37

Granted – time-based
264.9

 
42.33

Dividend equivalents
31.8

 
44.12

Forfeited
(33.6
)
 
34.54

Vested
(1,164.4
)
 
21.75

Nonvested, end of period
2,220.9

 
$
33.32