Shareholders' Equity

12 Months Ended

Jul. 31, 2016

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Stock Compensation Plans The Stock Compensation Plans in the Consolidated Statements of Changes in Shareholders’ Equity consist of the balance of amounts payable to eligible participants for stock compensation that was deferred to a Rabbi Trust pursuant to the provisions of the 2010 Master Stock Incentive Plan, as well as performance awards payable in common stock discussed further in Note 10.

Treasury Stock The Board of Directors authorized the repurchase, at the Company’s discretion, of up to 14.0 million shares of common stock under the Company’s stock repurchase plan dated May 29, 2015. This repurchase authorization, which is effective until terminated by the Board of Directors, replaced the Company’s previous stock repurchase plan dated September 27, 2013. As of July 31, 2016, the Company had remaining authorization to repurchase 10.5 million shares under this plan. Treasury stock share activity for the years ended July 31, 2016 and 2015 is summarized as follows:

	Year Ended July 31,
	2016		2015
Beginning balance	17,044,950		11,237,522
Stock repurchases	2,540,000		6,675,147
Net issuance upon exercise of stock options	(764,756	)	(773,385	)
Issuance under compensation plans	(59,787	)	(85,611	)
Other activity	(9,904	)	(8,723	)
Ending balance	18,750,503		17,044,950