XML 82 R53.htm IDEA: XBRL DOCUMENT v3.7.0.1
Fair Value of TSR Performance-Based Awards Valuation Assumption (Detail) - Total Shareholders Return Performance-based Awards - $ / shares
12 Months Ended
Jul. 31, 2017
Jul. 31, 2016
Jul. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock price [1] $ 89.88 $ 84.06 $ 71.33
Expected volatility [2] 27.00% 26.40% 29.30%
Risk-free interest rate [3] 0.85% 1.04% 1.00%
Expected annual dividend yield [4] 0.00% 0.00% 0.00%
Time Based Restricted Stock Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average grant date fair value of time-based restricted stock awards $ 88.13 $ 82.63 $ 73.23
Performance Based Restricted Stock Award      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Weighted average grant date fair value of time-based restricted stock awards $ 86.88 $ 98.81 $ 78.62
[1] The stock price is the closing price of our common stock on the date of grant.
[2] The expected volatility for each grant is determined based on the historical volatility for the peer group companies and our common stock over a period equal to the remaining term of the performance period from the date of grant for all awards.
[3] The risk-free interest rate is determined based on the yield of zero-coupon U.S. Treasury securities for a period that is commensurate with the performance period.
[4] Dividends are considered reinvested when calculating TSR. The dividend yield is therefore considered to be 0%.