Stock-Based Compensation (Tables)

6 Months Ended

Jan. 31, 2013

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Stock Option Assumptions

The weighted-average assumptions used in the Black-Scholes valuation model are reflected in the following table:

	Six Months Ended January 31, 2013					Six Months Ended January 31, 2012
	Service-Based			Performance- Based Option		Service-Based			Performance- Based Option
Black-Scholes Option Valuation Assumptions	Option Awards			Awards		Option Awards			Awards
Expected term (in years)	5.95			—		5.89			6.57
Expected volatility	38.68		%	—		39.40		%	39.21		%
Expected dividend yield	2.20		%	—		2.07		%	1.99		%
Risk-free interest rate	0.90		%	—		1.16		%	2.05		%
Weighted-average market value of underlying stock at grant date	$	30.36		$	—	$	27.00		$	29.55
Weighted-average exercise price	$	30.36		$	—	$	27.00		$	29.55
Weighted-average fair value of options granted during the period	$	9.01		$	—	$	8.37		$	10.01

Summary of Stock Option Activity under Company's Share-Based Compensation Plans

A summary of stock option activity under the Company’s share-based compensation plans for the six months ended January 31, 2013 is presented below:

Options	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at July 31, 2012	6,253,751	$	29.24
New grants	790,450	$	30.36
Exercised	(330,338)	$	18.57
Forfeited or expired	(497,273)	$	30.53
Outstanding at January 31, 2013	6,216,590	$	29.84	6.3	$	35,476
Exercisable at January 31, 2013	4,049,293	$	30.19	5.1	$	22,891