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Stock-Based Compensation (Tables) | 3 Months Ended
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Oct. 31, 2018
Share-based Arrangements with Employees and Nonemployees [Abstract] |
Black-Scholes Option Valuation Assumptions | The weighted-average assumptions used in the Black-Scholes valuation model are reflected in the following table:
|  | Three months ended October 31,
Black-Scholes Option Valuation Assumptions |  | 2018 |  | 2017
Expected term (in years) |  | 6.20 |  |  | 6.07 |
Expected volatility |  | 25.83 | % |  | 28.19 | %
Expected dividend yield |  | 2.71 | % |  | 2.72 | %
Risk-free interest rate |  | 3.01 | % |  | 1.96 | %
Weighted-average market value of underlying stock at grant date |  | $ | 43.96 |  |  | $ | 36.85 |
Weighted-average exercise price |  | $ | 43.96 |  |  | $ | 36.85 |
Weighted-average fair value of options granted during the period |  | $ | 9.70 |  |  | $ | 7.96 |
Summary of Stock Option Activity | A summary of stock option activity under the Company’s share-based compensation plans for the three months ended October 31, 2018, is presented below:
Service-Based Options |  | Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at July 31, 2018 |  | 2,504,633 |  | $ | 28.23 |  |  |  |  |
New grants |  | 276,238 |  | 43.96 |  |  |  |  |
Exercised |  | (551,919) |  | 26.88 |  |  |  |  |
Forfeited or expired |  | (5,407) |  | 36.24 |  |  |  |  |
Outstanding at October 31, 2018 |  | 2,223,545 |  | $ | 30.50 |  |  | 6.5 |  | $ | 23,842 |
Exercisable at October 31, 2018 |  | 1,621,317 |  | $ | 27.06 |  |  | 5.6 |  | $ | 22,340 |
Summary of RSU Activity | The following tables summarize the RSU activity under the Company's share-based compensation plans for the three months ended October 31, 2018:
Service-Based RSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Outstanding at July 31, 2018 |  | 342,856 |  |  | $ | 29.05 |
New grants |  | 76,356 |  |  | 44.04 |
Vested |  | (111,194 | ) |  | 28.15 |
Forfeited |  | (7,339 | ) |  | 29.97 |
Outstanding at October 31, 2018 |  | 300,679 |  |  | $ | 33.16 |
The service-based RSUs granted during the three months ended October 31, 2017, had a weighted-average grant date fair value of $35.14. The total fair value of service-based RSUs vested during the three months ended October 31, 2018 and 2017, was $4,795 and $4,736, respectively.
Performance-Based RSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Outstanding at July 31, 2018 |  | 108,097 |  |  | $ | 32.57 |
New grants |  | 50,313 |  |  | 50.70 |
Vested |  | — |  |  | — |
Forfeited |  | — |  |  | — |
Outstanding at October 31, 2018 |  | 158,410 |  |  | $ | 38.33 |
The performance-based RSUs granted during the three months ended October 31, 2017, had a weighted-average grant date fair value of $33.12. The aggregate intrinsic value of unvested service-based and performance-based RSUs outstanding at October 31, 2018 and expected to vest was $18,497.

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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