Stock-based compensation (Tables)
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12 Months Ended |
Jan. 29, 2022 |
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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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January 29, |
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January 30, |
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February 1, |
(In thousands) |
|
2022 |
|
2021 |
|
2020 |
Stock options |
|
$ |
11,245 |
|
$ |
10,757 |
|
$ |
8,660 |
Restricted stock units |
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|
19,286 |
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|
16,608 |
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|
12,762 |
Performance-based restricted stock units |
|
|
16,728 |
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|
218 |
|
|
4,220 |
Total stock-based compensation expense |
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$ |
47,259 |
|
$ |
27,583 |
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$ |
25,642 |
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Cash received from stock option exercises |
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$ |
40,386 |
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$ |
12,229 |
|
$ |
43,780 |
Income tax benefit |
|
$ |
7,088 |
|
$ |
750 |
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$ |
11,600 |
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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 29, |
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January 30, |
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February 1, |
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2022 |
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2021 |
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2020 |
Volatility rate |
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46.9% |
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43.0% |
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31.0% |
Average risk-free interest rate |
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0.4% |
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0.3% |
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2.3% |
Average expected life (in years) |
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3.9 |
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3.4 |
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3.5 |
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 |
The following table presents information related to common stock options:
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Fiscal year ended |
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January 29, |
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January 30, |
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February 1, |
(In thousands, except weighted-average grant date fair value) |
|
2022 |
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2021 |
|
2020 |
Weighted-average grant date fair value |
|
$ |
109.84 |
|
$ |
54.40 |
|
$ |
89.91 |
Fair value of options vested |
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|
10,417 |
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9,741 |
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|
9,143 |
Intrinsic value of options exercised |
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|
39,489 |
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|
11,304 |
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|
51,650 |
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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 2021 |
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Fiscal 2020 |
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Fiscal 2019 |
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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 |
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options |
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|
exercise price |
Beginning of year |
|
671 |
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$ |
208.47 |
|
539 |
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$ |
212.58 |
|
755 |
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$ |
174.34 |
Granted |
|
61 |
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306.96 |
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248 |
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174.45 |
|
97 |
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|
348.73 |
Exercised |
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(224) |
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180.05 |
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(90) |
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135.70 |
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(285) |
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|
153.64 |
Forfeited/Expired |
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(10) |
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225.24 |
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(26) |
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|
219.47 |
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(28) |
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|
263.34 |
End of year |
|
498 |
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$ |
232.85 |
|
671 |
|
$ |
208.47 |
|
539 |
|
$ |
212.58 |
Exercisable at end of year |
|
179 |
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$ |
248.11 |
|
236 |
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$ |
209.03 |
|
172 |
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$ |
159.39 |
Vested and Expected to vest |
|
474 |
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$ |
233.28 |
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639 |
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$ |
208.49 |
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510 |
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$ |
211.14 |
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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 29, 2022 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 |
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(years) |
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|
exercise price |
$74.91 – $127.15 |
|
11 |
|
2 |
|
$ |
92.99 |
|
11 |
|
2 |
|
$ |
92.99 |
$127.16 – $153.87 |
|
1 |
|
3 |
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152.27 |
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1 |
|
3 |
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152.27 |
$153.88 – $174.45 |
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213 |
|
8 |
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174.45 |
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27 |
|
8 |
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174.45 |
$174.46 – $204.27 |
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77 |
|
6 |
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203.15 |
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44 |
|
6 |
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202.31 |
$204.28 – $281.53 |
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57 |
|
5 |
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281.53 |
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57 |
|
5 |
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281.53 |
$281.54 – $365.13 |
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139 |
|
8 |
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330.98 |
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39 |
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7 |
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348.73 |
$74.91 – $365.13 |
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498 |
|
7 |
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$ |
232.85 |
|
179 |
|
6 |
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$ |
248.11 |
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| Summary of restricted stock units activity |
A summary of restricted stock units activity is presented in the following table (shares in thousands):
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Fiscal 2021 |
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Fiscal 2020 |
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Fiscal 2019 |
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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 |
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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 |
|
253 |
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$ |
210.46 |
|
159 |
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$ |
259.21 |
|
168 |
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$ |
220.68 |
Granted |
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61 |
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312.42 |
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163 |
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179.72 |
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53 |
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|
335.28 |
Vested |
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(76) |
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|
209.88 |
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(38) |
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276.51 |
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(46) |
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|
207.77 |
Forfeited |
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(17) |
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|
233.94 |
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(31) |
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218.40 |
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(16) |
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|
259.65 |
End of year |
|
221 |
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$ |
236.95 |
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253 |
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$ |
210.46 |
|
159 |
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$ |
259.21 |
Expected to vest |
|
205 |
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$ |
236.95 |
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234 |
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$ |
210.46 |
|
147 |
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$ |
259.21 |
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| Summary of Performance-based restricted stock units activity |
A summary of performance-based restricted stock unit activity is presented in the following table (shares in thousands):
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Fiscal 2021 |
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Fiscal 2020 |
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Fiscal 2019 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
|
average |
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Number of |
|
average |
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Number of |
|
average |
|
units |
|
grant date |
|
units |
|
grant date |
|
units |
|
grant date |
Beginning of year |
37 |
|
$ |
271.88 |
|
62 |
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$ |
267.60 |
|
94 |
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$ |
214.64 |
Granted |
74 |
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|
326.99 |
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— |
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— |
|
21 |
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|
348.73 |
Change in performance award payout |
(7) |
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|
348.73 |
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(5) |
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|
204.27 |
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(3) |
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|
281.53 |
Vested |
(47) |
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|
295.49 |
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(14) |
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281.53 |
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(43) |
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|
191.76 |
Forfeited |
(3) |
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|
319.71 |
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(6) |
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|
263.38 |
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(7) |
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|
258.80 |
End of year |
54 |
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$ |
314.30 |
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37 |
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$ |
271.88 |
|
62 |
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$ |
267.60 |
Expected to vest |
50 |
|
$ |
314.30 |
|
35 |
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$ |
271.88 |
|
57 |
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$ |
267.60 |
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