STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Jul. 26, 2015

STOCK-BASED COMPENSATION

Schedule of reconciliation of the number of options outstanding and exercisable

A reconciliation of the number of options outstanding and exercisable (in thousands) as of July 26, 2015, and changes during the nine months then ended, is as follows:

	Shares	Weighted- Average Exercise Price	Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value (in thousands)
Outstanding at October 26, 2014	17,402	$  24.61
Granted	1,514	52.55
Exercised	1,147	18.83
Forfeited	1	18.71
Outstanding at July 26, 2015	17,768	27.37	5.2 years	$  536,506
Exercisable at July 26, 2015	13,469	$  22.64	4.2 years	$  470,362

Schedule of weighted-average grant date fair value of stock options granted, and the total intrinsic value of options exercised

The weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised (in thousands) during the third quarter and first nine months of fiscal years 2015 and 2014, are as follows:

	Three Months Ended				Nine Months Ended
	July 26, 2015		July 27, 2014		July 26, 2015		July 27, 2014
Weighted-average grant date fair value	$	10.11	$	10.52	$	9.84	$	9.70
Intrinsic value of exercised options	$	10,223	$	23,512	$	42,824	$	55,481

Schedule of weighted-average assumptions used to calculate fair value of each option award

	Three Months Ended		Nine Months Ended
	July 26, 2015	July 27, 2014	July 26, 2015	July 27, 2014
Risk-free interest rate	1.9%	2.6%	2.1%	2.5%
Dividend yield	1.8%	1.7%	1.9%	1.8%
Stock price volatility	19.0%	20.0%	19.0%	20.0%
Expected option life	8 years	8 years	8 years	8 years

Schedule of reconciliation of the nonvested shares

A reconciliation of the nonvested shares (in thousands) as of July 26, 2015, and changes during the nine months then ended, is as follows:

	Shares	Weighted- Average Grant- Date Fair Value
Nonvested at October 26, 2014	70	$  33.58
Granted	37	51.74
Vested	70	33.58
Nonvested at July 26, 2015	37	$  51.74

Schedule of weighted-average grant date fair value of nonvested shares granted, the total fair value of nonvested shares granted, and the fair value of nonvested shares vested

The weighted-average grant date fair value of nonvested shares granted, the total fair value (in thousands) of nonvested shares granted, and the fair value (in thousands) of shares that have vested during the first nine months of fiscal years 2015 and 2014, are as follows:

	Nine Months Ended
	July 26,  2015	July 27,  2014
Weighted-average grant date fair value	$  51.74	$  43.46
Fair value of nonvested shares granted	$  1,920	$  1,440
Fair value of shares vested	$  2,347	$  2,056

Schedule of stock-based compensation expense, along with the related income tax benefit

	Three Months Ended		Nine Months Ended
(in thousands)	July 26, 2015	July 27, 2014	July 26, 2015	July 27, 2014
Stock-based compensation expense recognized	$  1,711	$  1,746	$  14,260	$  12,690
Income tax benefit recognized	(649)	(663)	(5,414)	(4,822)
After-tax stock-based compensation expense	$  1,062	$  1,083	$  8,846	$  7,868