Share-based Compensation

3 Months Ended

Oct. 31, 2011

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Share-based Compensation

NOTE 6 - Share-based Compensation

The Company recognizes compensation expense for stock option awards on a straight-line basis over the requisite service period of the award. The following is a summary of option activity for the Company’s stock options for the three months ended October 31, 2011:

	Shares	Weighted- average Exercise Price	Weighted-average Remaining Contractual Term	Aggregate Intrinsic Value
	(in 000s)			(in 000s)
Outstanding at July 31, 2011	8,353	$31.00
Grants of options	40	$42.09
Exercises	(86)	$29.01
Forfeitures or expirations	-	-
Outstanding at October 31, 2011	8,307	$31.08	6.95	$103,620
Exercisable at October 31, 2011	4,476	$28.93	6.09	$65,433

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of our common stock for the 7,529,501 options that were in-the-money at October 31, 2011.

As set forth in the table below, the share-based compensation expense recognized during the three months ended October 31, 2011 was $5.1 million, compared to $4.6 million during the three months ended October 31, 2010.

	Three Months Ended October 31,
	2011	2010
General and Administrative	$4,850	$4,331
Yard operations	195	305
	$5,045	$4,636