Stock-based Compensation (Tables)

9 Months Ended

Apr. 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						Nine Months Ended
	April 28,			April 30,			April 28,			April 30,
	2012			2011			2012			2011
	(millions)
Compensation expense	$	6.1		$	4.2		$	21.2		$	12.8
Income tax benefit	$	(2.3	)	$	(1.7	)	$	(8.0	)	$	(5.0	)

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 nine months ended April 28, 2012 and April 30, 2011 are presented as follows:

	Nine Months Ended
	April 28, 2012			April 30, 2011
Expected term (years)		3.9			3.9
Expected volatility		41.7	%		52.4	%
Risk-free interest rate		0.9	%		1.3	%
Expected dividend yield		0	%		0	%
Weighted-average grant date fair value	$	4.73		$	4.43

Summary of Stock Option Activity Under All Plans

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

	April 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		13,829.6		$	8.46		6.4	$	106.4
Granted		3,042.4			13.19		0		0
Exercised		(1,615.5	)		7.91		0		0
Cancelled/Forfeited		(306.7	)		11.29		0		0
Options outstanding – April 28, 2012		14,949.8		$	9.42		6.4	$	169.3

Options vested and expected to vest at April 28, 2012 ^(b)		14,440.9		$	9.77		6.4	$	164.6
Options exercisable at April 28, 2012		7,146.4		$	7.23		4.4	$	96.5

^(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 nine months ended April 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		922.3		$	12.64		1,352.8		$	12.23		437.0		$	12.34
Granted		705.9			14.14		574.6			12.74		54.8			12.33
Vested		(248.3	)		11.59		0			0		0			0
Cancelled/Forfeited		(224.7	)		13.21		(392.5	)		11.11		(154.3	)		10.90
Nonvested at April 28, 2012		1,155.2		$	13.67		1,534.9		$	12.71		337.5		$	13.00

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 April 28, 2012 (millions)	$	8.6	$	12.0	$	2.6
Weighted-average years expected to be recognized over (years)		3.9		1.7		1.6