Stock Based Compensation (Tables)

3 Months Ended

May 02, 2026

Share-Based Payment Arrangement [Abstract]

Non-cash stock compensation expense is as follows:


	(in thousands)
	Three Months Ended
	May 2,		May 3,
Type of Non-Cash Stock Compensation	2026		2025
Restricted stock unit grants (a)	$	13,097	$	10,971
Stock option grants (a)		3,641		4,902
Performance stock unit grants (a)		19,563		5,944
Total (b)	$	36,301	$	21,817

(a)

Included in the line item “Selling, general and administrative expenses” in the Company’s Condensed Consolidated Statements of Income.

(b)

The amounts presented in the table above exclude taxes. For the three month periods ended May 2, 2026 and May 3, 2025, the tax benefit related to the Company’s non-cash stock compensation was approximately $7.2 million and $4.2 million, respectively.

Stock Option Transactions

Stock option transactions during the three month period ended May 2, 2026 are summarized as follows:


	Number of Shares			Weighted Average Exercise Price Per Share
Options outstanding, January 31, 2026		1,260,295		$	199.72
Options granted		—			—
Options exercised (a)		(61,930	)		180.18
Options forfeited		(2,400	)		195.38
Options outstanding, May 2, 2026		1,195,965			200.74

(a)

Options exercised during the three month period ended May 2, 2026 had a total intrinsic value of $8.3 million.

Stock Options Vested and Expected to Vest as Well as Option Exercisable

The following table summarizes information about the stock options vested and expected to vest during the contractual term of such options as of May 2, 2026:


	Options		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Aggregate Intrinsic Value (in millions)
Options vested and expected to vest		1,195,965		5.9	$	200.74	$	141.1
Options exercisable		944,217		5.4	$	205.59	$	107.0

Award Grant and Vesting Transactions

Restricted stock unit transactions during the three month period ended May 2, 2026 are summarized as follows:


	Number of Shares			Weighted Average Grant Date Fair Value Per Award
Non-vested awards outstanding, January 31, 2026		727,513		$	207.18
Awards granted		256,488			317.90
Awards vested (a)		(237,297	)		197.75
Awards forfeited		(5,244	)		199.25
Non-vested awards outstanding, May 2, 2026		741,460			248.55

(a)

Restricted stock units vested during the three month period ended May 2, 2026 had a total intrinsic value of $75.2 million.

Performance Stock Unit Transactions

Performance stock unit transactions during the three month period ended May 2, 2026 are summarized as follows:


	Number of Shares			Weighted Average Grant Date Fair Value Per Award
Non-vested awards outstanding, January 31, 2026		363,954		$	200.92
Awards granted		213,182			255.37
Awards vested (a)		(200,762	)		184.98
Awards forfeited		—			—
Non-vested awards outstanding, May 2, 2026		376,374			240.26

(a)

Performance-based stock awards vested during the three month period ended May 2, 2026 had a total intrinsic value of $64.0 million.