Stock-based Compensation

3 Months Ended

Oct. 31, 2013

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

NOTE 7 - Stock-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, 2013:

	Shares (in 000s)			Weighted average Exercise Price		Weighted average Remaining Contractual Term		Aggregate Intrinsic Value (in 000s)

Outstanding at July 31, 2013		14,922		$	16.75		5.91	$	235,086
Grants of options		-			-
Exercises		(20	)	$	15.37
Forfeitures or expirations		-			-

Outstanding at October 31, 2013		14,902		$	16.76		5.64	$	230,571

Exercisable at October 31, 2013		12,169		$	16.08		5.36	$	196,496

As required by ASC 718, the Company made an estimate of expected forfeitures and is recognizing compensation cost only for those equity awards expected to vest.

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 14,902,114 options that were in-the-money at October 31, 2013.

The table below sets forth the stock-based compensation recognized by the Company (in thousands):

	Three Months Ended October 31,
	2013		2012
General and administrative	$	4,232	$	4,570
Yard operations		635		604
	$	4,867	$	5,174

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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