Stock-Based Compensation (Tables)

3 Months Ended

Oct. 31, 2013

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

The following table summarizes RSUs and restricted stock activity under the Company's share-based compensation plans for the three months ended October 31, 2013:

RSUs	Units	Weighted Average Grant Date Fair Value
Outstanding at July 31, 2013	10,000	$	30.21
New grants	95,765	31.07
Vested	—	—
Forfeited	(407)	31.07
Outstanding at October 31, 2013	105,358	$	30.99
Restricted Stock	Shares	Weighted Average Grant Date Fair Value
Outstanding at July 31, 2013	226,667	$	31.52
New grants	5,000	29.70
Vested	—	—
Forfeited	—	—
Outstanding at October 31, 2013	231,667	$	31.48

Stock Option Assumptions

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

	Three months ended October 31,
Black-Scholes Option Valuation Assumptions	2013			2012
Expected term (in years)	5.92			5.94
Expected volatility	37.41		%	38.73		%
Expected dividend yield	2.36		%	2.20		%
Risk-free interest rate	1.78		%	0.89		%
Weighted-average market value of underlying stock at grant date	$	31.07		$	30.21
Weighted-average exercise price	$	31.07		$	30.21
Weighted-average fair value of options granted during the period	$	9.18		$	8.96

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 three months ended October 31, 2013 is presented below:

Options	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at July 31, 2013	5,106,585	$	30.68
New grants	347,145	31.07
Exercised	(213,548)	27.06
Forfeited or expired	(434,848)	32.79
Outstanding at October 31, 2013	4,805,334	$	30.68	6.1	$	4,518
Exercisable at October 31, 2013	3,466,777	$	30.93	5.1	$	4,079