Stock-based compensation (Tables)
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12 Months Ended |
Jan. 30, 2021 |
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| Schedule of information related to the incentive award plan |
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Fiscal year ended |
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January 30, |
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February 1, |
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February 2, |
(In thousands) |
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2021 |
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2020 |
|
2019 |
Stock options |
|
$ |
10,757 |
|
$ |
8,660 |
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$ |
8,590 |
Restricted stock units |
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16,608 |
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12,762 |
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12,077 |
Performance-based restricted stock units |
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|
218 |
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|
4,220 |
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6,822 |
Total stock-based compensation expense |
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$ |
27,583 |
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$ |
25,642 |
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$ |
27,489 |
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Cash received from stock option exercises |
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$ |
12,229 |
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$ |
43,780 |
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$ |
13,121 |
Income tax benefit |
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$ |
750 |
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$ |
11,600 |
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$ |
6,135 |
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| Schedule of weighted average assumptions to determine grant date fair value of employee stock options |
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Fiscal year ended |
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January 30, |
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February 1, |
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February 2, |
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2021 |
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2020 |
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2019 |
Volatility rate |
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43.0% |
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31.0% |
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29.0% |
Average risk-free interest rate |
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0.3% |
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2.3% |
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2.4% |
Average expected life (in years) |
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3.4 |
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3.5 |
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3.4 |
Dividend yield |
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None |
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None |
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None |
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| Information related to common stock options plan |
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Fiscal year ended |
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January 30, |
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February 1, |
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February 2, |
(In thousands, except weighted-average grant date fair value) |
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2021 |
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2020 |
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2019 |
Weighted-average grant date fair value |
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$ |
54.40 |
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$ |
89.91 |
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$ |
50.10 |
Fair value of options vested |
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9,741 |
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9,143 |
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10,042 |
Intrinsic value of options exercised |
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11,304 |
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51,650 |
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25,902 |
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| Schedule of options outstanding and exercisable based on ranges of exercise prices |
The following table presents information related to stock options outstanding and stock options exercisable at January 30, 2021 based on ranges of exercise prices (shares in thousands):
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Options outstanding |
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Options exercisable |
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Weighted- |
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Weighted- |
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average |
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average |
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remaining |
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remaining |
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contractual |
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Weighted- |
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contractual |
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Weighted- |
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Number of |
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life |
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average |
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Number of |
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life |
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average |
Range of Exercise Prices |
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options |
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(years) |
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exercise price |
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options |
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(years) |
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|
exercise price |
$57.42 – $127.15 |
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31 |
|
2 |
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$ |
83.88 |
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31 |
|
2 |
|
$ |
83.88 |
$127.16 – $164.06 |
|
104 |
|
5 |
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163.63 |
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54 |
|
5 |
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163.23 |
$164.07 – $174.45 |
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234 |
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9 |
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174.45 |
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– |
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– |
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– |
$174.46 – $204.27 |
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139 |
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7 |
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201.79 |
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73 |
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6 |
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199.51 |
$204.28 – $281.53 |
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78 |
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6 |
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279.03 |
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56 |
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6 |
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278.91 |
$281.54 – $348.73 |
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85 |
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8 |
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348.73 |
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22 |
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8 |
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348.73 |
$57.42 – $348.73 |
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671 |
|
7 |
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$ |
208.47 |
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236 |
|
5 |
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$ |
209.03 |
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| Summary of status of performance-based restricted stock unit activity |
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Fiscal 2020 |
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Fiscal 2019 |
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Fiscal 2018 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
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average |
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Number of |
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average |
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Number of |
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average |
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units |
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grant date |
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units |
|
grant date |
|
units |
|
grant date |
Beginning of year |
62 |
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$ |
267.60 |
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94 |
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$ |
214.64 |
|
78 |
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$ |
196.81 |
Granted |
– |
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– |
|
21 |
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348.73 |
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33 |
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|
204.27 |
Change in performance award payout |
(5) |
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204.27 |
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(3) |
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281.53 |
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22 |
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191.76 |
Vested |
(14) |
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281.53 |
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(43) |
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191.76 |
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(36) |
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151.20 |
Forfeited |
(6) |
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263.38 |
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(7) |
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258.80 |
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(3) |
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224.49 |
End of year |
37 |
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$ |
271.88 |
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62 |
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$ |
267.60 |
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94 |
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$ |
214.64 |
Expected to vest |
35 |
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$ |
271.88 |
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57 |
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$ |
267.60 |
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87 |
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$ |
214.64 |
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| Stock options |
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| Information related to common stock options plan |
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Fiscal 2020 |
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Fiscal 2019 |
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Fiscal 2018 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
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average |
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Number of |
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average |
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Number of |
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average |
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|
options |
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exercise price |
|
options |
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exercise price |
|
options |
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exercise price |
Beginning of year |
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539 |
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$ |
212.58 |
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755 |
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$ |
174.34 |
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766 |
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$ |
147.76 |
Granted |
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248 |
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174.45 |
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97 |
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348.73 |
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163 |
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204.27 |
Exercised |
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(90) |
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135.70 |
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(285) |
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153.64 |
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(166) |
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78.81 |
Forfeited/Expired |
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(26) |
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219.47 |
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(28) |
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263.34 |
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(8) |
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260.83 |
End of year |
|
671 |
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$ |
208.47 |
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539 |
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$ |
212.58 |
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755 |
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$ |
174.34 |
Exercisable at end of year |
|
236 |
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$ |
209.03 |
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172 |
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$ |
159.39 |
|
296 |
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$ |
134.27 |
Vested and Expected to vest |
|
639 |
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$ |
208.49 |
|
510 |
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$ |
211.14 |
|
718 |
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$ |
173.02 |
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| Restricted stock units |
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| Information related to common stock options plan |
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Fiscal 2020 |
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Fiscal 2019 |
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Fiscal 2018 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
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average grant |
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Number of |
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average grant |
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Number of |
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average grant |
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units |
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date fair value |
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units |
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date fair value |
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units |
|
date fair value |
Beginning of year |
|
159 |
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$ |
259.21 |
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168 |
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$ |
220.68 |
|
134 |
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$ |
207.70 |
Granted |
|
163 |
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179.72 |
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53 |
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335.28 |
|
97 |
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|
208.82 |
Vested |
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(38) |
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276.51 |
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(46) |
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207.77 |
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(52) |
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|
164.35 |
Forfeited |
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(31) |
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218.40 |
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(16) |
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259.65 |
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(11) |
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|
227.44 |
End of year |
|
253 |
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$ |
210.46 |
|
159 |
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$ |
259.21 |
|
168 |
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$ |
220.68 |
Expected to vest |
|
234 |
|
$ |
210.46 |
|
147 |
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$ |
259.21 |
|
154 |
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$ |
220.68 |
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