Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v2.4.1.9
Stock Based Compensation (Tables)
12 Months Ended
Jan. 31, 2015
Nonvested Restricted Stock Shares Activity [Table Text Block]
Activity related to restricted stock awards for 2014 is as follows:
 
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
(thousands)
 
 
Nonvested, beginning of period
79.2

 
$
22.58

Granted

 

Forfeited
(0.6
)
 
23.43

Vested
(52.7
)
 
22.16

Nonvested, end of period
25.9

 
$
23.43

Components of Stock Based Compensation Expense
Stock-based compensation expense included the following components:
 
 
2014
 
2013
 
2012
 
(millions)
Stock options
$
47

 
$
36

 
$
28

Restricted stock units
26

 
25

 
26

Restricted stock

 
1

 
1

Stock credits

 

 
6

 
$
73

 
$
62

 
$
61



Weighted Average Assumption Used To Estimate Fair Value of Stock Options
The fair value of stock options granted during 2014, 2013 and 2012 and the weighted average assumptions used to estimate the fair value are as follows:
 
 
2014
 
2013
 
2012
Weighted average grant date fair value of stock options
granted during the period
$
19.07

 
$
12.15

 
$
12.22

Dividend yield
2.5
%
 
2.8
%
 
2.2
%
Expected volatility
42.7
%
 
41.3
%
 
39.8
%
Risk-free interest rate
1.5
%
 
0.8
%
 
1.2
%
Expected life
5.7 years

 
5.7 years

 
5.7 years

Schedule of Stock Option Activity
Activity related to stock options for 2014 is as follows:
 
 
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value
 
(thousands)
 
 
 
(years)
 
(millions)
Outstanding, beginning of period
23,313.6

 
$
32.02

 
 
 
 
Granted
3,296.0

 
$
58.92

 
 
 
 
Canceled or forfeited
(468.4
)
 
$
41.10

 
 
 
 
Exercised
(6,462.4
)
 
$
30.98

 
 
 
 
Outstanding, end of period
19,678.8

 
$
36.65

 
 
 
 
Exercisable, end of period
11,405.5

 
$
30.06

 
4.0
 
$
386

Options expected to vest
7,280.5

 
$
45.73

 
8.1
 
$
132

Additional Information Relating to Stock Options
Additional information relating to stock options is as follows:
 
 
2014
 
2013
 
2012
 
(millions)
Intrinsic value of options exercised
$
189

 
$
207

 
$
132

Grant date fair value of stock options that vested during the year
38

 
31

 
30

Cash received from stock options exercised
200

 
254

 
164

Excess tax benefits realized from exercised stock options
43

 
51

 
36

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]
Activity related to restricted stock units for 2014 is as follows:
 
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
(thousands)
 
 
Nonvested, beginning of period
1,191.8

 
$
41.16

Granted – performance-based
289.3

 
59.81

Performance adjustment
46.9

 
40.63

Granted – time-based
202.3

 
58.83

Dividend equivalents
21.0

 
59.52

Forfeited
(37.1
)
 
42.12

Vested
(421.3
)
 
40.40

Nonvested, end of period
1,292.9

 
$
48.47

Restricted Stock Units [Member]  
Activity Related to Restricted Stock and Restricted Stock Units
Restricted Stock and Restricted Stock Units
The weighted average grant date fair values of restricted stock units granted during 2014, 2013 and 2012 are as follows:
 
 
2014
 
2013
 
2012
Restricted stock units
$
59.41

 
$
42.54

 
$
39.52