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Employee Stock Plans (Tables)
12 Months Ended
Oct. 25, 2013
Changes in Outstanding Options Granted Under Equity Incentive Plans

The following table summarizes the changes in outstanding options granted under the Company’s equity incentive plan:

 

     2013      2012      2011  
     Shares
Subject to
Option
    Weighted
Average
Exercise
Price
     Shares
Subject to
Option
    Weighted
Average
Exercise
Price
     Shares
Subject to
Option
   

Weighted
Average
Exercise

Price

 

Outstanding,
beginning of year

     2,124,300      $ 46.18         1,825,300      $ 44.49         1,838,950      $ 39.31   

Granted

     257,000        65.58         386,400        52.97         331,300        67.03   

Exercised

     (518,537     37.89         (60,775     36.52         (295,175     37.03   

Forfeited/cancelled

     (29,025     55.83         (26,625     50.68         (49,775     47.28   

 

 

Outstanding,
end of year

     1,833,738      $ 51.09         2,124,300      $ 46.18         1,825,300      $ 44.49   

 

 

Exercisable,
end of year

     1,075,788      $ 45.65         1,258,900      $ 41.89         994,950      $ 39.85   

 

 
Stock Activity Related to Stock Options Exercised

The table below presents stock activity related to stock options exercised in fiscal 2013 and 2012:

 

In Thousands                2013                    2012  

Proceeds from stock options exercised

   $         20,072         $         5,240   

Tax benefits related to stock options exercised

   $ 2,961         $ 366   

Intrinsic value of stock options exercised

   $ 18,448         $ 1,751   
Stock Options Outstanding

The following table summarizes information for stock options outstanding at October 25, 2013:

 

      

                    Options  Outstanding                    

         Options Exercisable

                    Range of

          Exercise Prices

     Shares     

Weighted

Average

Remaining
Life (years)

    

Weighted
Average

Price

         Shares               

Weighted
Average

Price

$        19.65  –  38.00

     223,975      4.1      $        31.05              223,975                 $        31.05

          38.01  –  40.00

     193,413      2.4      38.92          193,413                 38.92

          40.01  –  50.00

     285,375      5.5      41.87          213,350                 42.08

          50.01  –  52.00

     278,850      8.0      51.06          70,525                 51.03

          52.01  –  65.00

     590,025      6.2      58.79          329,825                 56.87

          65.01  –  82.01

     262,100      8.7      69.94          44,700                 73.57

 

Summary of Changes in RSUs Granted Under Company's Equity Incentive Plans

The following table summarizes the changes in RSUs granted under the Company’s equity incentive plans:

 

                                 2013                              
   

Shares

    Weighted
Average
Grant Date
Fair Value
    Weighted
Average
Remaining
Life (years)
 

Non-vested, beginning of year

    0      $ .00     

Granted

    55,280        70.23     

Forfeited/cancelled

    (400     66.55     

 

 

Non-vested, end of year

    54,880      $ 70.26        2.5   

 

 
Equity Incentive Plan
 
Fair Value of Option Granted using Black-Scholes Pricing Model
             2013             2012             2011      

Volatility

     36.97     38.96     51.10%   

Risk-free interest rate

     0.40     0.38     0.98%   

Expected life (years)

     3        3        3       

Dividends

     0        0        0       

 

 
Employee Sharesave Scheme
 
Fair Value of Option Granted using Black-Scholes Pricing Model
             2013             2012             2011      

Volatility

     41.89 – 44.25     41.62 – 44.29     40.8 – 42.8%   

Risk-free interest rate

     0.79 – 1.88     0.91 – 2.11     2.02 – 3.64%   

Expected life (years)

     4.5 – 9.5        4.5 – 9.5        4.5 – 9.5      

Dividends

     0        0        0