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Stock-Based Awards (Tables)
12 Months Ended
Jul. 26, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-based Compensation Expense and Related Tax Benefit Recognized
Stock-based compensation expense and the related tax benefit recognized related to stock options and restricted share units during fiscal 2014, 2013 and 2012 are as follows:
 
Fiscal Year Ended
 
2014
 
2013
 
2012
 
(Dollars in thousands)
Stock-based compensation
$
12,596

 
$
9,902

 
$
6,952

Tax benefit recognized in the statement of operations
$
4,819

 
$
3,782

 
$
2,412

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table summarizes the valuation of stock options and restricted share units granted during fiscal 2014, 2013 and 2012 and the significant valuation assumptions:

 
Fiscal Year Ended
 
2014
 
2013
 
2012
Weighted average fair value of RSUs granted
$
27.54

 
$
18.52

 
$
19.49

Weighted average fair value of Performance RSUs granted
$
27.66

 
$
18.08

 
$
19.47

Weighted average fair value of stock options granted
$
17.43

 
$
11.66

 
$
12.51

Stock option assumptions:
 
 
 
 
 
Risk-free interest rate
2.7
%
 
1.6
%
 
1.8
%
Expected life (years)
8.8

 
9.3

 
9.4

Expected volatility
55.1
%
 
55.4
%
 
56.1
%
Expected dividends

 

 

Schedule of Share-based Compensation, Stock Options Award Activity
The following table summarizes stock option award activity during fiscal 2014:

 
Stock Options
 
Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Life
 
Aggregate Intrinsic Value
 
 
 
 
 
(In years)
 
(In thousands)
Outstanding as of July 27, 2013
2,769,132

 
$
18.27

 
 
 
 
Granted
89,956

 
$
27.50

 
 
 
 
Options exercised
(803,796
)
 
$
18.12

 
 
 
 
Forfeited or canceled
(10,399
)
 
$
27.00

 
 
 
 
Outstanding as of July 26, 2014
2,044,893

 
$
18.68

 
4.8
 
$
23,545

 
 
 
 
 
 
 
 
Exercisable options as of July 26, 2014
1,575,300

 
$
18.81

 
3.9
 
$
18,566

Schedule of Share-based Compensation, RSU and Performance RSU Activity
The following table summarizes RSU and Performance RSU activity during fiscal 2014:

 
Restricted Stock
 
RSUs
 
Performance RSUs
 
Share Units
 
Weighted Average Grant Price
 
Aggregate Intrinsic Value
 
Share Units
 
Weighted Average Grant Price
 
Aggregate Intrinsic Value
 
 
 
 
 
(In thousands)
 
 
 
 
 
(In thousands)
Outstanding as of July 27, 2013
463,318

 
$
17.78

 
 
 
1,315,138

 
$
18.44

 
 
Granted
101,615

 
$
27.54

 
 
 
429,485

 
$
27.66

 
 
Share units vested
(158,441
)
 
$
16.53

 
 
 
(265,025
)
 
$
18.35

 
 
Forfeited or canceled
(7,561
)
 
$
19.27

 
 
 
(289,414
)
 
$
18.64

 
 
Outstanding as of July 26, 2014
398,931

 
$
20.61

 
$
11,509

 
1,190,184

 
$
21.73

 
$
34,337