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Stock-based Compensation (Tables)
9 Months Ended
May 02, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Total Compensation Expense and Associated Income Tax Benefit
A summary of the total compensation expense and associated income tax benefit recognized related to stock-based compensation arrangements on a consolidated basis is as follows:
Three Months EndedNine Months Ended
May 2,
2020
May 4,
2019
May 2,
2020
May 4,
2019
 (millions)(millions)
Compensation expense$0.8  $2.2  $3.2  $10.5  
Income tax benefit$—  $0.5  $—  $2.2  
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 periods presented were as follows:
 Nine Months Ended
 May 2,
2020
May 4,
2019
Expected term (years)5.25.2
Expected volatility61.7 %47.5 %
Risk-free interest rate1.5 %2.9 %
Expected dividend yield— %— %
Weighted-average grant date fair value$2.74  $35.41  
Summary of Stock Option Activity under all Plans
A summary of the stock option activity under the service-based plans during the nine months ended May 2, 2020 is as follows:
 Number of
Shares
Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Contractual
Terms
Aggregate
Intrinsic
Value (a)
(thousands) (years)(millions)
Options outstanding – August 3, 2019850.4  $156.00  4.1$—  
Granted275.9  5.12  
Exercised—  —  
Canceled/Forfeited(430.5) 179.89  
Options outstanding – May 2, 2020695.8  $81.40  4.8$—  
Options vested and expected to vest at May 2, 2020 (b)
684.8  $82.49  4.8$—  
Options exercisable at May 2, 2020380.0  $130.95  3.7$—  
_______
(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 nine months ended May 2, 2020 is as follows:
Service-based
Restricted Equity Awards
 Number of
Shares
Weighted-
Average
Grant Date
Fair Value
Per Share
 (thousands) 
Nonvested at August 3, 201967.4  $91.42  
Granted—  —  
Vested(28.6) 112.47  
Canceled/Forfeited(7.8) 88.68  
Nonvested at May 2, 202031.0  $72.68