Shareholders' Equity

3 Months Ended

Oct. 28, 2016

Shareholders' Equity [Abstract]

Shareholders' Equity

6. Shareholders’ Equity

During the three months ended October 28, 2016, the Company issued 76,233 shares of its common stock resulting from the vesting of share-based compensation awards and stock option exercises.  Related tax withholding payments on these share-based compensation awards exceeded proceeds received from the exercise of stock options, which resulted in a net reduction to shareholders’ equity of $6,138.

During the three months ended October 28, 2016, total share-based compensation expense was $1,425.  The excess tax benefit realized upon exercise of share-based compensation awards was $1,062.

During the three months ended October 28, 2016, the Company paid regular dividends of $1.15 per share of its common stock and declared a regular dividend of $1.15 per share of its common stock that was paid on November 7, 2016 to shareholders of record on October 14, 2016.

The following table summarizes the changes in AOCL, net of tax, related to the Company’s interest rate swaps for the three months ended October 28, 2016 (see Notes 2 and 5):

	Changes in AOCL
AOCL balance at July 29, 2016	$	(13,740	)
Other comprehensive income before reclassifications		4,539
Amounts reclassified from AOCL		(768	)
Other comprehensive income, net of tax		3,771
AOCL balance at October 28, 2016	$	(9,969	)

The following table summarizes the amounts reclassified out of AOCL related to the Company’s interest rate swaps for the quarter ended October 28, 2016:

Details about AOCL	Amount Reclassified from AOCL			Affected Line Item in the Condensed Consolidated Statement of Income
Loss on cash flow hedges:
Interest rate swaps	$	(1,243	)	Interest expense
Tax benefit		475		Provision for income taxes
	$	(768	)	Net of tax