Stock-based compensation (Tables)
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12 Months Ended |
Feb. 01, 2025 |
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| Stock-based compensation |
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| Schedule of information related to stock-based compensation |
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Fiscal year ended |
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February 1, |
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February 3, |
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January 28, |
(In thousands) |
|
2025 |
|
2024 |
|
2023 |
Stock options |
|
$ |
9,188 |
|
$ |
7,429 |
|
$ |
7,250 |
Restricted stock units |
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|
19,863 |
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|
19,724 |
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|
18,483 |
Performance-based restricted stock units |
|
|
13,736 |
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|
21,093 |
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|
17,311 |
Total stock-based compensation expense |
|
$ |
42,787 |
|
$ |
48,246 |
|
$ |
43,044 |
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Cash received from stock option exercises |
|
$ |
12,339 |
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$ |
12,176 |
|
$ |
46,011 |
Income tax benefit |
|
$ |
4,891 |
|
$ |
7,167 |
|
$ |
3,829 |
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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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February 1, |
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February 3, |
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January 28, |
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2025 |
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2024 |
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2023 |
Volatility rate |
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33.0% |
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45.0% |
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|
49.0% |
Average risk-free interest rate |
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4.4% |
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3.8% |
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2.4% |
Average expected life (in years) |
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3.5 |
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3.4 |
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|
3.4 |
Dividend yield |
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— |
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|
— |
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|
— |
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| Information related to common stock options plan |
The following table presents information related to common stock options:
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Fiscal year ended |
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February 1, |
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February 3, |
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January 28, |
(In thousands, except weighted-average grant date fair value) |
|
2025 |
|
2024 |
|
2023 |
Weighted-average grant date fair value |
|
$ |
157.66 |
|
$ |
199.15 |
|
$ |
149.14 |
Fair value of options vested |
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|
7,992 |
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|
7,169 |
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|
9,525 |
Intrinsic value of options exercised |
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|
12,673 |
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15,509 |
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|
42,489 |
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| Summary of stock option activity |
A summary of stock option activity is presented in the following table (shares in thousands):
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Fiscal 2024 |
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Fiscal 2023 |
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Fiscal 2022 |
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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 |
|
307 |
|
$ |
303.47 |
|
324 |
|
$ |
260.34 |
|
498 |
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$ |
232.85 |
Granted |
|
56 |
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|
522.88 |
|
42 |
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|
541.39 |
|
47 |
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|
395.81 |
Exercised |
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(52) |
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|
239.61 |
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(54) |
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|
223.59 |
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(207) |
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|
222.19 |
Forfeited/Expired |
|
(12) |
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|
465.19 |
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(5) |
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|
382.48 |
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(14) |
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|
311.40 |
End of year |
|
299 |
|
$ |
349.12 |
|
307 |
|
$ |
303.47 |
|
324 |
|
$ |
260.34 |
Exercisable at end of year |
|
188 |
|
$ |
270.15 |
|
154 |
|
$ |
264.87 |
|
118 |
|
$ |
261.57 |
Vested and Expected to vest |
|
292 |
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$ |
345.55 |
|
297 |
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$ |
302.05 |
|
309 |
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$ |
260.37 |
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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 February 1, 2025 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 |
|
options |
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(years) |
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|
exercise price |
|
options |
|
(years) |
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|
exercise price |
$174.45 – $174.45 |
|
72 |
|
3 |
|
$ |
174.45 |
|
72 |
|
3 |
|
$ |
174.45 |
$174.46 – $281.53 |
|
31 |
|
2 |
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|
231.26 |
|
31 |
|
2 |
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231.26 |
$281.54 – $306.59 |
|
37 |
|
4 |
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|
306.59 |
|
25 |
|
4 |
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|
306.59 |
$306.60 – $348.73 |
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36 |
|
3 |
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348.73 |
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36 |
|
3 |
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348.73 |
$348.74 – $395.84 |
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33 |
|
5 |
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|
395.84 |
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14 |
|
4 |
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395.84 |
$395.85 – $545.67 |
|
90 |
|
7 |
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|
530.57 |
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10 |
|
6 |
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|
541.11 |
$174.45 – $545.67 |
|
299 |
|
4 |
|
$ |
349.12 |
|
188 |
|
3 |
|
$ |
270.15 |
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| Summary of restricted stock units activity |
A summary of RSU activity is presented in the following table (shares in thousands):
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Fiscal 2024 |
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Fiscal 2023 |
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Fiscal 2022 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
|
average grant |
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Number of |
|
average grant |
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Number of |
|
average grant |
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|
units |
|
date fair value |
|
units |
|
date fair value |
|
units |
|
date fair value |
Beginning of year |
|
140 |
|
$ |
408.86 |
|
221 |
|
$ |
264.08 |
|
221 |
|
$ |
236.95 |
Granted |
|
54 |
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|
497.25 |
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50 |
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|
518.45 |
|
61 |
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|
399.43 |
Vested |
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(50) |
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|
322.03 |
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(122) |
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|
191.76 |
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(46) |
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|
312.70 |
Forfeited |
|
(19) |
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|
471.41 |
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(9) |
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|
408.21 |
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(15) |
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|
262.94 |
End of year |
|
125 |
|
$ |
472.36 |
|
140 |
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$ |
408.86 |
|
221 |
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$ |
264.08 |
Expected to vest |
|
116 |
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$ |
472.36 |
|
130 |
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$ |
408.86 |
|
205 |
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$ |
264.08 |
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| Summary of Performance-based restricted stock units activity |
A summary of PBS activity is presented in the following table (shares in thousands):
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Fiscal 2024 |
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Fiscal 2023 |
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Fiscal 2022 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
|
average grant |
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Number of |
|
average grant |
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Number of |
|
average grant |
|
units |
|
date fair value |
|
units |
|
date fair value |
|
units |
|
date fair value |
Beginning of year |
106 |
|
$ |
407.03 |
|
76 |
|
$ |
347.89 |
|
54 |
|
$ |
314.30 |
Granted |
37 |
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|
522.88 |
|
33 |
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|
542.33 |
|
37 |
|
|
395.83 |
Change in performance award payout |
34 |
|
|
306.59 |
|
– |
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– |
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(1) |
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|
378.79 |
Vested |
(74) |
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|
306.59 |
|
– |
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– |
|
(11) |
|
|
345.53 |
Forfeited |
(10) |
|
|
476.01 |
|
(3) |
|
|
403.60 |
|
(3) |
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|
332.94 |
End of year |
93 |
|
$ |
488.16 |
|
106 |
|
$ |
407.03 |
|
76 |
|
$ |
347.89 |
Expected to vest |
86 |
|
$ |
488.16 |
|
98 |
|
$ |
407.03 |
|
70 |
|
$ |
347.89 |
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