Stock-based Compensation (Tables)

3 Months Ended

Oct. 29, 2011

Summary of Total Compensation Expense and Associated Income Tax Benefit Recognized Related to Stock-Based Compensation Arrangements

A summary of the total compensation expense and associated income tax benefit recognized related to stock-based compensation arrangements is as follows:

	Three Months Ended
	October 29,			October 30,
	2011			2010
	(millions)
Compensation expense	$	7.5		$	4.1
Income tax benefit	$	(2.8	)	$	(1.6	)

Weighted-average Assumptions used to Estimate Fair Value of Stock Options Granted

The Company’s weighted-average assumptions used to estimate the fair value of stock options granted during the three months ended October 29, 2011 and October 30, 2010 are presented as follows:

	Three Months Ended
	October 29, 2011			October 30, 2010
Expected term (years)		4.0			4.0
Expected volatility		41.7	%		41.3	%
Risk-free interest rate		0.9	%		2.1	%
Expected dividend yield		0	%		0	%
Weighted-average grant date fair value	$	9.41		$	8.65

Summary of Stock Option Activity Under All Plans

A summary of the stock option activity under all plans during the first quarter of Fiscal 2012 is as follows:

	October 29, 2011
	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Terms		Aggregate Intrinsic Value (a)
	(thousands)					(years)		(millions)
Options outstanding- July 31, 2011		6,914.8		$	16.93		6.4	$	106.4
Granted		1,462.5			26.23
Exercised		(114.8	)		13.74
Cancelled/Forfeited		(59.6	)		21.55
Options outstanding – October 29, 2011		8,202.9		$	18.60		6.9	$	95.4
Options vested and expected to vest at October  29, 2011 (b)		7,860.0		$	19.41		6.8	$	92.8
Options exercisable at October 29, 2011		4,007.1		$	14.05		4.9	$	64.7

(a)  The intrinsic value is the amount by which the market price at the end of the period of the underlying share of stock exceeds the exercise price of the stock option.

(b)  The number of options expected to vest takes into consideration estimated expected forfeitures.

Summary of Restricted Equity Awards Activity

A summary of Restricted Equity Awards activity during the first three months ended October 29, 2011 is as follows:

	Service-based Restricted Equity Awards					Performance-based Restricted Equity Awards				Market-based Restricted Equity Awards
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share		Number of Shares		Weighted- Average Grant Date Fair Value Per Share		Number of Shares		Weighted- Average Grant Date Fair Value Per Share
	(thousands)					(thousands)				(thousands)
Nonvested at July 31, 2011		461.2		$	25.27		676.4	$	24.49		218.5	$	24.68
Granted		236.9			26.72		273.5		25.34		—		—
Vested		(58.1	)		24.01		—		—		—		—
Cancelled/Forfeited		(58.1	)		25.25		—		—		—		—
Nonvested at October 29, 2011		581.9		$	25.99		949.9	$	24.71		218.5	$	24.68

Total Unrecognized Compensation and Weighted-average Years Expected to be Recognized

	Service-based Restricted Equity Awards		Performance-based Restricted Equity Awards		Market-based Restricted Equity Awards
Total unrecognized compensation at October 29, 2011 (millions)	$	11.0	$	15.8	$	3.3
Weighted-average years expected to be recognized over (years)		3.5		2.1		2.0