COMMON STOCK (Tables)

12 Months Ended

Jul. 31, 2014

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

Schedule of Share Repurchase Programs

The following table highlights the share repurchase authorizations in effect during fiscal year 2014:

	Date of Authorization
	Sep 26, 2011			Jan 17, 2013			Jul 17, 2014		Total
Amount available for repurchases as of July 31, 2013	$	81,873		$	250,000		$	—	$	331,873
New authorizations	—			—			600,000		600,000
Utilized	(81,873		)	(168,127		)	—		(250,000		)
Amount available for repurchases as of July 31, 2014	$	—		$	81,873		$	600,000	$	681,873

Schedule of Share Based Compensation Components of stock-based compensation expense

The detailed components of stock-based compensation expense recorded in the consolidated statements of earnings for the years ended July 31, 2014, July 31, 2013 and July 31, 2012 are illustrated in the table below.

	July 31, 2014		July 31, 2013		July 31, 2012
Restricted stock units	$	20,138	$	18,444	$	17,113
Stock options	7,608		6,147		6,356
Employee stock purchase plan (“ESPP”)	1,045		1,217		4,348
Management stock purchase plan (“MSPP”)	2,892		3,970		4,221
Total	$	31,683	$	29,778	$	32,038

The following table illustrates the income tax effects related to stock-based compensation for the fiscal years:

	2014		2013		2012
Excess tax benefits in cash flows from financing activities	$	12,890	$	15,812	$	7,757
Tax benefit recognized related to total stock-based compensation expense	8,485		7,587		8,755
Actual tax benefit realized for tax deductions from option exercises of stock-based payment arrangements	21,347		29,558		16,831

Valuation of Stock options

	2014			2013			2012
Stock Options
Weighted average fair value at grant date	$	16.72		$	18.34		$	14.13
Valuation assumptions:
Expected dividend yield	1.5		%	1.5		%	2.0		%
Expected volatility	25.9		%	37.6		%	38.6		%
Expected life (years)	4.50			4.75			5.00
Risk-free interest rate	1.5		%	0.7		%	0.8		%

Valuation of ESPP Shares

	2012
ESPP Shares
Weighted average fair value at grant date	$	13.06
Valuation assumptions:
Expected dividend yield	1.4		%
Expected volatility	41.5		%
Expected life (years)	½ year
Risk-free interest rate	0.1		%

Schedule of Stock Options Activity

A summary of option activity for all stock option plans during the year ended July 31, 2014 is presented below:

Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at August 1, 2013	2,209		$	49.31
Granted	503		82.48
Exercised	(638	)	38.86
Forfeited or Expired	(52	)	62.26
Outstanding at July 31, 2014	2,022		$	60.53	4.9	$	36,760
Expected to vest at July 31, 2014	1,315		$	65.80	5.4	$	17,720
Exercisable at July 31, 2014	678		$	49.59	4.1	$	18,911

Summary of MSPP Activity

The following is a summary of MSPP activity during the fiscal years:

	2014		2013		2012
Deferred compensation and cash contributions	$	5,886	$	6,819	$	5,336
Fair value of restricted stock units vested	$	4,091	$	5,364	$	3,950
Vested units distributed	259		410		205

Restricted Stock Units (RSUs) and Performance Shares [Member]

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

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of restricted stock unit activity, excluding annual award units, for the 2005 Stock Plan and 2012 Stock Plan during the year ended July 31, 2014, is presented below: 

	Shares		Weighted- Average Grant-Date Fair Value
Nonvested at July 31, 2013	1,363		$	52.50
Granted	240		82.33
Vested	(362	)	39.16
Forfeited	(65	)	60.10
Nonvested at July 31, 2014	1,176		$	62.27