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Stock-Based Awards | 6 Months Ended
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Jan. 27, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Awards | Stock-Based Awards Stock-based compensation expense and the related tax benefit recognized and realized during the 2018 transition period and fiscal 2017, 2016, and 2015 were as follows (dollars in thousands):
| Six Months Ended |  | Fiscal Year Ended
| January 27, 2018 |  | July 29, 2017 |  | July 30, 2016 |  | July 25, 2015
Stock-based compensation | $ | 13,277 |  |  | $ | 20,805 |  |  | $ | 16,850 |  |  | $ | 13,923 |
Income tax effect of stock-based compensation | $ | 4,793 |  |  | $ | 7,996 |  |  | $ | 6,436 |  |  | $ | 5,458 |
In addition, as a result of the Company’s application of ASU 2016-09, the Company recognized approximately $7.8 million of certain tax benefits from share-based award activities during the 2018 transition period. As of January 27, 2018, the Company had unrecognized compensation expense related to stock options, RSUs, and target Performance RSUs (based on the Company’s estimate of performance goal achievement) of $2.8 million, $8.6 million, and $18.3 million, respectively. This expense will be recognized over a weighted-average number of years of 2.5, 2.5, and 1.9, respectively, based on the average remaining service periods for the awards. As of January 27, 2018, the Company may recognize an additional $7.9 million in compensation expense in future periods if the maximum amount of Performance RSUs is earned based on certain performance measures being met. The following table summarizes the valuation of stock options and restricted share units granted during the 2018 transition period and fiscal 2017, 2016, and 2015 and the significant valuation assumptions:
| Six Months Ended |  | Fiscal Year Ended
| January 27, 2018 |  | July 29, 2017 |  | July 30, 2016 |  | July 25, 2015
Weighted average fair value of RSUs granted | $ | 87.34 |  |  | $ | 79.04 |  |  | $ | 72.41 |  |  | $ | 31.42 |
Weighted average fair value of Performance RSUs granted | $ | 84.13 |  |  | $ | 79.29 |  |  | $ | 77.86 |  |  | $ | 31.03 |
Weighted average fair value of stock options granted | $ | 42.60 |  |  | $ | 39.90 |  |  | $ | 45.13 |  |  | $ | 19.48 |
Stock option assumptions: |  |  |  |  |  |  |
Risk-free interest rate | 2.3 | % |  | 2.3 | % |  | 2.0 | % |  | 2.1 | %
Expected life (in years) | 7.6 |  |  | 7.6 |  |  | 7.3 |  |  | 8.8 |
Expected volatility | 43.4 | % |  | 44.7 | % |  | 55.0 | % |  | 54.5 | %
Expected dividends | — |  |  | — |  |  | — |  |  | — |
Stock Options The following table summarizes stock option award activity during the 2018 transition period:
| Stock Options
| Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (In years) |  | Aggregate Intrinsic Value (In thousands)
Outstanding as of July 29, 2017 | 670,350 |  |  | $ | 25.24 |  |  |  |  |
Granted | 18,933 |  |  | $ | 85.15 |  |  |  |  |
Options exercised | (52,553 | ) |  | $ | 14.17 |  |  |  |  |
Canceled | — |  |  | $ | — |  |  |  |  |
Outstanding as of January 27, 2018 | 636,730 |  |  | $ | 27.93 |  |  | 4.8 |  | $ | 58,176 |
Exercisable options as of January 27, 2018 | 549,507 |  |  | $ | 21.63 |  |  | 4.2 |  | $ | 53,670 |
The total amount of exercisable options as of January 27, 2018 presented above reflects the approximate amount of options expected to vest after giving effect to estimated forfeitures at an insignificant rate. The aggregate intrinsic values presented above represent the total pre-tax intrinsic values (the difference between the Company’s closing stock price of $119.30 on the last trading day of the 2018 transition period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on the last trading day of the 2018 transition period. The amount of aggregate intrinsic value will change based on the price of the Company’s common stock. The total intrinsic value of stock options exercised was $4.5 million, $7.8 million, $15.0 million, and $24.9 million for the 2018 transition period and fiscal 2017, 2016, and 2015, respectively. The Company received cash from the exercise of stock options of $0.7 million, $1.4 million, $2.7 million, and $8.9 million during the 2018 transition period and fiscal 2017, 2016, and 2015, respectively. RSUs and Performance RSUs The following table summarizes RSU and Performance RSU award activity during the 2018 transition period:
| Restricted Stock
| RSUs |  | Performance RSUs
| Share Units |  | Weighted Average Grant Price |  | Share Units |  | Weighted Average Grant Price
Outstanding as of July 29, 2017 | 187,465 |  |  | $ | 60.71 |  |  | 553,882 |  |  | $ | 67.46 |
Granted | 29,672 |  |  | $ | 87.34 |  |  | 138,261 |  |  | $ | 84.13 |
Share units vested | (80,884 | ) |  | $ | 51.49 |  |  | (272,466 | ) |  | $ | 57.98 |
Forfeited or canceled | (2,357 | ) |  | $ | 81.62 |  |  | (29,350 | ) |  | $ | 60.32 |
Outstanding as of January 27, 2018 | 133,896 |  |  | $ | 71.81 |  |  | 390,327 |  |  | $ | 80.52 |
The total amount of granted Performance RSUs presented above consists of 99,627 target shares and 38,634 supplemental shares. During the 2018 transition period, the Company canceled 21,139 supplemental shares of Performance RSUs, as a result of the fiscal 2017 performance criteria for attaining those supplemental shares being partially met. The total amount of Performance RSUs outstanding as of January 27, 2018 consists of 278,963 target shares and 111,364 supplemental shares. The unvested RSUs reflect the approximate amount of units expected to vest after giving effect to estimated forfeitures at an insignificant rate. The total fair value of restricted share units vested during the 2018 transition period and fiscal 2017, 2016, and 2015 was $37.7 million, $33.2 million, $39.1 million, and $15.2 million, respectively.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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