Stock-based Compensation (Tables)

6 Months Ended

Jan. 28, 2012

Summary of Total Compensation Expense and Associated Income Tax Benefit Recognized Related to Stock-Based Compensation Arrangements

A summary of the total compensation expense and associated income tax benefit recognized related to stock-based compensation arrangements is as follows:

	Three Months Ended						Six Months Ended
	January 28,			January 29,			January 28,			January 29,
	2012			2011			2012			2011
	(millions)
Compensation expense	$	7.6		$	4.5		$	15.1		$	8.6
Income tax benefit	$	(2.9	)	$	(1.8	)	$	(5.7	)	$	(3.3	)

Weighted-average Assumptions used to Estimate Fair Value of Stock Options Granted

The Company’s weighted-average assumptions used to estimate the fair value of stock options granted during the six months ended January 28, 2012 and January 29, 2011are presented as follows:

	Six Months Ended
	January 28, 2012			January 29, 2011
Expected term (years)		3.9			3.9
Expected volatility		41.7	%		52.5	%
Risk-free interest rate		0.9	%		1.3	%
Expected dividend yield		0	%		0	%
Weighted-average grant date fair value	$	9.44		$	8.67

Summary of Stock Option Activity Under All Plans

A summary of the stock option activity under all plans during the six months ended January 28, 2012 is as follows:

	January 28, 2012
	Number of Shares		Weighted- Average Exercise Price	Weighted-Average Remaining Contractual Terms	Aggregate Intrinsic Value ^(a)
	(thousands)			(years)	(millions)
Options outstanding- July 31, 2011	6,914.8		$16.93	6.4	$106.4
Granted	1,512.9		26.30
Exercised	(520.7	)	15.76
Cancelled/Forfeited	(89.6	)	21.93
Options outstanding – January 28, 2012	7,817.4		$18.76	6.7	$130.6

Options vested and expected to vest at January 28, 2012 ^(b)	7,516.5		$19.51	6.6	$126.9
Options exercisable at January 28, 2012	3,802.2		$14.33	4.7	$80.4

^(a) The intrinsic value is the amount by which the market price at the end of the period of the underlying share of stock exceeds the exercise price of the stock option.
^(b) The number of options expected to vest takes into consideration estimated expected forfeitures.

Summary of Restricted Equity Awards Activity

A summary of Restricted Equity Awards activity during the six months ended January 28, 2012 is as follows:

	Service-based Restricted Equity Awards					Performance-based Restricted Equity Awards					Market-based Restricted Equity Awards
	Number of Shares			Weighted- Average Grant Date Fair Value Per Share		Number of Shares			Weighted- Average Grant Date Fair Value Per Share		Number of Shares			Weighted- Average Grant Date Fair Value Per Share
	(thousands)					(thousands)					(thousands)
Nonvested at July 31, 2011		461.2		$	25.27		676.4		$	24.49		218.5		$	24.68
Granted		346.9			28.05		287.3			25.49		27.4			24.67
Vested		(121.7	)		23.25		--			--		--			--
Cancelled/Forfeited		(60.9	)		25.21		(141.8	)		20.48		(65.5	)		20.25
Nonvested at January 28, 2012		625.5		$	27.22		821.9		$	25.50		180.4		$	28.29

Total Unrecognized Compensation and Weighted-average Years Expected to be Recognized

	Service-based Restricted Equity Awards		Performance-based Restricted Equity Awards		Market-based Restricted Equity Awards
Total unrecognized compensation at January 28, 2012 (millions)	$	11.0	$	16.2	$	3.9
Weighted-average years expected to be recognized over (years)		4.2		1.9		1.8