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Equity
 3 Months Ended
Oct. 27, 2012
Equity [Abstract]  
Equity

9. Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Changes in Equity:

 

 

 

Three Months Ended

 

 

 

 

 

October 27, 2012

 

 

October 29, 2011

 

 

 

 

(millions)

 

 

Balance at beginning of period

 

$
1,340.9 

 

$
1,158.0 

Total comprehensive income

 

 
43.5 

 

 
47.1 

Other

 

 
(6.9)

 

 

--

Purchases of common stock

 

 

--

 

 
(28.7)

Shares issued and equity grants made pursuant to stock-based compensation plans

 

 
28.1 

 

 
9.6 

Balance at end of period

 

$
1,405.6 

 

$
1,186.0 

 

 

Common Stock Repurchase Program

 

In Fiscal 2010, the Company’s Board of Directors authorized a $100 million share repurchase program (the “2010 Stock Repurchase Program”).  The program was then expanded in Fiscal 2011 to cover an additional $100 million of authorized purchases.  Under the 2010 Stock Repurchase Program, purchases of shares of common stock may be made at the Company’s discretion from time to time, subject to overall business and market conditions.

 

There were no purchases of common stock by Company during the first quarter of Fiscal 2013. Repurchased shares normally are retired and treated as authorized but unissued shares. 

 

The remaining availability under the Stock Repurchase Program was approximately $89.9 million at October 27, 2012.

Dividends

 

The Company has never declared or paid cash dividends on its common stock.  However, payment of dividends is within the discretion and are payable when declared by the Company’s Board of Directors.  Additionally, payments of dividends are limited by the Company’s Revolving Credit Agreement as described in the Note 8, “Revolving Credit Agreement.”