Shareholders' Equity

6 Months Ended

Jan. 30, 2015

Shareholders' Equity [Abstract]

Shareholders' Equity

6.                           Shareholders’ Equity

During the six months ended January 30, 2015, the Company issued 102,654 shares of its common stock resulting from the vesting of share-based compensation awards and stock option exercises.  Related tax withholding payments on certain share-based compensation awards exceeded proceeds received from the exercise of stock options, which resulted in a net reduction to shareholders’ equity of $4,420.

During the six months ended January 30, 2015, total share-based compensation expense was $6,330.  The excess tax benefit realized upon exercise of share-based compensation awards was $2,299.

During the six months ended January 30, 2015, the Company paid dividends of $2.00 per share of its common stock and declared a regular dividend of $1.00 per share of its common stock that was paid on February 5, 2015 to shareholders of record on January 16, 2015.

The following table summarizes the changes in AOCL, net of tax, related to the Company’s interest rate swaps for the six-month period ended January 30, 2015 (see Notes 2 and 5):

	Changes in AOCL
AOCL balance at August 1, 2014	$	(4,733	)
Other comprehensive income before reclassifications		(1,764	)
Amounts reclassified from AOCL		(2,467	)
Other comprehensive loss, net of tax		(4,231	)
AOCL balance at January 30, 2015	$	(8,964	)

The following table summarizes the amounts reclassified out of AOCL related to the Company’s interest rate swaps for the quarter and six-month period ended January 30, 2015:

	Amount Reclassified from AOCL						Affected Line Item in the
	Quarter Ended			Six Months Ended			Condensed Consolidated
Loss on cash flow hedges:
Interest rate swaps	$	(2,005	)	$	(4,016	)	Interest expense
Tax benefit		773			1,549		Provision for income taxes
	$	(1,232	)	$	(2,467	)	Net of tax