Stock-based Compensation (Tables)

The following table summarizes stock option activity as of January 31, 2016:



	Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life	Aggregate Intrinsic Value
	(Options in thousands)				(In years)
Outstanding at August 2, 2015	74		$	29.91
Granted	711		$	50.21
Exercised	(74	)	$	29.91
Terminated	—		$	—
Outstanding at January 31, 2016	711		$	50.21	9.7	$	4
Exercisable at January 31, 2016	—		$	—	—	$	—



	2016
Risk-free interest rate	1.68%
Expected dividend yield	2.46%
Expected volatility	18.35%
Expected term	6 years

The following table summarizes time-lapse restricted stock units, EPS performance restricted stock units, strategic performance restricted stock units and special performance restricted stock units as of January 31, 2016:



	Units		Weighted- Average Grant-Date Fair Value
	(Restricted stock units in thousands)
Nonvested at August 2, 2015	2,410		$	41.40
Granted	672		$	50.00
Vested	(800	)	$	39.31
Forfeited	(171	)	$	43.45
Nonvested at January 31, 2016	2,111		$	44.77

The following table summarizes TSR performance restricted stock units as of January 31, 2016:



	Units		Weighted- Average Grant-Date Fair Value
	(Restricted stock units in thousands)
Nonvested at August 2, 2015	1,579		$	40.75
Granted	682		$	62.44
Vested	(438	)	$	39.76
Forfeited	(126	)	$	46.36
Nonvested at January 31, 2016	1,697		$	49.30

We estimated the fair value of TSR performance restricted stock units at the grant date using a Monte Carlo simulation. Assumptions used in the Monte Carlo simulation were as follows:



	2016	2015
Risk-free interest rate	0.92%	0.97%
Expected dividend yield	2.46%	2.91%
Expected volatility	17.25%	16.20%
Expected term	3 years	3 years