Employees' Stock Incentive Plans and Management Incentive Plans

3 Months Ended

Jul. 29, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Employees' Stock Incentive Plans and Management Incentive Plans

Employees’ Stock Incentive Plans and Management Incentive Plans

At July 29, 2012, the Company had outstanding stock option awards, restricted stock units and restricted stock awards issued pursuant to various shareholder-approved plans and a shareholder-authorized employee stock purchase plan, as described on pages 52 to 56 of the Company’s Annual Report on Form 10-K for the fiscal year ended April 29, 2012. The compensation cost related to these plans primarily recognized in SG&A and the related tax benefit are as follows:

	First Quarter Ended
	July 29, 2012		July 27, 2011
	(In millions)
Pre-tax compensation cost	$	6.9	$	6.0
Tax benefit	2.1		1.7
After-tax compensation cost	$	4.8	$	4.3

In the first quarter of Fiscal 2013, the Company granted performance awards as permitted in the Fiscal Year 2003 Stock Incentive Plan, subject to the achievement of certain performance goals. These performance awards are tied to the Company’s Relative Total Shareholder Return (“Relative TSR”) Ranking within the defined Long-term Performance Program (“LTPP”) peer group and the two-year average after-tax Return on Invested Capital (“ROIC”) metrics. The Relative TSR metric is based on the two-year cumulative return to shareholders from the change in stock price and dividends paid between the starting and ending dates. The starting value was based on the average of each LTPP peer group company stock price for the 60 trading days prior to and including April 29, 2012. The ending value will be based on the average stock price for the 60 trading days prior to and including the close of the Fiscal 2014 year end, plus dividends paid over the two year performance period. The compensation cost related to LTPP awards primarily recognized in SG&A and the related tax benefit are as follows:

	First Quarter Ended
	July 29, 2012		July 27, 2011
	(In millions)
Pre-tax compensation cost	$	8.7	$	5.6
Tax benefit	3.0		1.9
After-tax compensation cost	$	5.7	$	3.7