Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.3.1.900
Stock-Based Compensation (Tables)
12 Months Ended
Jan. 30, 2016
Share-based Compensation [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs
The components of total stock-based compensation costs are as follows:
($ in millions)
2015
 
2014
 
2013
Stock awards
$
32

 
$
20

 
$
14

Stock options
12

 
13

 
14

Total stock-based compensation(1)
$
44

 
$
33

 
$
28

 
 
 
 
 
 
Total income tax benefit recognized for stock-based compensation arrangements
$

 
$

 
$


(1)
Excludes $9 million, $3 million and $18 million for 2015, 2014 and 2013, respectively, of stock-based compensation costs reported in restructuring and management transition charges (Note 17).
Schedule of Share-based Compensation, Stock Options, Activity
The following table summarizes stock option activity during the year ended January 30, 2016:
 
 
Shares (in thousands)
 
Weighted - Average Exercise Price Per Share
 
Weighted - Average Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value ($ in millions)(1) 
Outstanding at January 31, 2015
 
14,575

 
$
32

 
 
 
 
Granted
 
5,119

 
8

 
 
 
 
Exercised
 
(4
)
 
8

 
 
 
 
Forfeited/canceled
 
(3,594
)
 
32

 
 
 
 
Outstanding at January 30, 2016
 
16,096

 
24

 
5.2
 
$
0.1

Exercisable at January 30, 2016
 
9,170

 
36

 
2.8
 
$

 
(1)
The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option at year end.
Schedule of Cash Proceeds Received from Share-based Payment Awards
Cash proceeds, tax benefits and intrinsic value related to total stock options exercised are provided in the following table:
($ in millions)
 
2015
 
2014
 
2013
Proceeds from stock options exercised
 
$

 
$

 
$
7

Intrinsic value of stock options exercised
 

 

 
2

Tax benefit related to stock-based compensation
 

 

 

Excess tax benefits realized on stock-based compensation
 

 

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
Our weighted-average fair value of stock options at grant date was $3.48 in 2015, $3.78 in 2014 and $7.15 in 2013. We primarily used the binomial lattice valuation model in 2015 and 2013 and the Monte Carlo simulation model in 2014 to determine the fair value of the stock options granted using the following assumptions:
 
 
2015
 
2014
 
2013
Weighted-average expected option term
 
4.6 years
 
4.1 years
 
4.3 years
Weighted-average expected volatility
 
51.46%
 
60.00%
 
62.00%
Weighted-average risk-free interest rate
 
1.50%
 
1.60%
 
0.64%
Weighted-average expected dividend yield (1)
 
—%
 
—%
 
—%
Expected dividend yield range (1)
 
—%
 
—%
 
—%


(1) Following the May 1, 2012 payment, we discontinued the quarterly $0.20 per share dividend.
Schedule of Nonvested Restricted Stock Units Activity
The following table summarizes our non-vested stock awards activity during the year ended January 30, 2016:  
 
Time-Based Stock Awards
 
Performance-Based Stock Awards
(shares in thousands)
Number of Units
 
Weighted-Average Grant Date Fair Value
 
Number of Units
 
Weighted-Average Grant Date Fair Value
Non-vested at January 31, 2015
6,769

 
$
10

 
533

 
$
7

Granted
3,429

 
8

 
2,403

 
8

Vested
(1,728
)
 
16

 
(278
)
 
8

Forfeited/canceled
(772
)
 
9

 
(101
)
 
8

Non-vested at January 30, 2016
7,698

 
9

 
2,557

 
7