Stock-Based Compensation (Tables)

9 Months Ended

Apr. 30, 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:

	Nine months ended April 30, 2013					Nine months ended April 30, 2012
	Service-Based			Performance- Based		Service-Based			Performance- Based
Black-Scholes Option Valuation Assumptions	Option Awards			Option Awards		Option Awards			Option Awards
Expected term (in years)	5.94			—		5.89			6.57
Expected volatility	38.68		%	—		39.41		%	39.21		%
Expected dividend yield	2.21		%	—		2.07		%	1.99		%
Risk-free interest rate	0.90		%	—		1.16		%	2.05		%
Weighted-average market value of underlying stock at grant date	$	30.54		$	—	$	27.05		$	29.55
Weighted-average exercise price	$	30.54		$	—	$	27.05		$	29.55
Weighted-average fair value of options granted during the period	$	9.05		$	—	$	8.42		$	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 nine months ended April 30, 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	815,450	$	30.54
Exercised	(642,579)	$	21.22
Forfeited or expired	(519,272)	$	30.52
Outstanding at April 30, 2013	5,907,350	$	30.18	6.5	$	25,094
Exercisable at April 30, 2013	3,736,320	$	30.70	4.9	$	15,728