Share-Based Compensation (Tables)

12 Months Ended

Jul. 31, 2015

Share-Based Compensation [Abstract]

Schedule of Outstanding Awards under Each Plan

The following table summarizes the number of outstanding awards under each plan at July 31, 2015:

2010 Omnibus Plan	217,131
Amended and Restated Stock Option Plan	4,458
2002 Omnibus Incentive Compensation Plan	18,500
Total	240,089

LTPP Performance and Vesting Period

The following table summarizes the performance periods and vesting periods for the Company’s nonvested stock awards under its long-term performance plans at July 31, 2015:

Long-Term Performance Plan (“LTPP”)	Performance Period		Vesting Period (in Years)
2015 LTPP		2015 – 2016	2 or 3
2014 LTPP		2014 – 2015	2 or 3

Schedule of Outstanding Awards under LTPP

The following table summarizes the shares that have been accrued under the 2015 LTPP and 2014 LTPP at July 31, 2015:

2015 LTPP	49,072
2014 LTPP	37,126

Schedule of Nonvested Stock Activity

A summary of the Company’s nonvested stock activity as of July 31, 2015, and changes during 2015 are presented in the following table:

Nonvested Stock	Shares			Weighted-Average Grant Date Fair Value
Unvested at August 1, 2014		64,065		$	68.25
Granted		74,089			101.58
Vested		(98,991	)		82.35
Forfeited		--			--
Unvested at July 31, 2015		39,163		$	95.66

Aggregate Fair Value of Non Vested Stock

The following table summarizes the total fair value of nonvested stock that vested for each of the three years:

	2015		2014		2013
Total fair value of nonvested stock	$	8,152	$	17,417	$	7,445

Assumptions Used in Determining Fair Value of MSU Grants

The following assumptions were used in determining the fair value for the Company’s MSU Grants:

				Year Ended
	July 31, 2015			August 1, 2014			August 2, 2013
Dividend yield***		--			--			3.0	%
Expected volatility		21	%		25	%		27	%
Risk-free interest rate range		1.0	%		0.7% - 0.8	%		0.3	%

***Dividends accrue on the 2014 and 2015 MSU Grants. Dividends will be forfeited for any 2014 and 2015 MSU Grants that do not vest.

Schedule of Shares Accrued under the MSU Grants

The following table summarizes the shares that have been accrued under the 2013 MSU Grants, the 2014 MSU Grants and 2015 MSU Grants at July 31, 2015:

	Shares
2013 MSU Grants		53,295
2014 MSU Grants		25,829
2015 MSU Grants		15,146

Schedule of Stock Option Activity

A summary of the Company’s stock option activity as of July 31, 2015, and changes during 2015 are presented in the following table:

Fixed Options	Shares			Weighted- Average Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at August 1, 2014		87,132		$	36.75
Granted		--			--
Exercised		(44,753	)		37.97
Forfeited		--			--
Canceled		(21,921	)		36.95
Outstanding at July 31, 2015		20,458		$	33.88		2.08	$	2,414
Exercisable		20,458		$	33.88		2.08	$	2,414

Summary of Total Intrinsic Values of Options Exercised

The following table summarizes the total intrinsic values of options exercised during each of the three years:

	2015		2014		2013
Total intrinsic values of options exercised*	$	4,652	$	169	$	10,526

*The intrinsic value for stock options is defined as the difference between the current market value and the grant price.

Components of Share-based Compensation Expense

The following table highlights the components of share-based compensation expense for each of the three years:

	2015		2014		2013
Nonvested stock awards	$	13,243	$	5,762	$	15,416
MSU Grants		2,967		2,162		2,335
Stock options		--		--		88
Total compensation expense	$	16,210	$	7,924	$	17,839

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The following table highlights the total unrecognized compensation expense related to nonvested stock and MSU Grants and the weighted-average periods over which the expense is expected to be recognized as of July 31, 2015:

	Nonvested Stock		MSU Grants
Total unrecognized compensation	$	1,564	$	3,604
Weighted-average period in years		1.56		1.66

Total Share-based Compensation Income Tax Benefit

The following table highlights the total income tax benefit recognized in the Consolidated Statements of Income for each of the three years:

	2015		2014		2013
Total income tax benefit	$	5,056	$	2,438	$	5,221