Share-Based Compensation (Tables)

12 Months Ended

Jul. 28, 2017

Share-Based Compensation [Abstract]

Schedule of Outstanding Awards under Each Plan

The following table summarizes the number of outstanding awards under each plan at July 28, 2017:

2010 Omnibus Plan	131,575
2002 Omnibus Incentive Compensation Plan	4,000
Total	135,575

LTPP Performance and Vesting Period

The following table summarizes the performance periods and vesting periods for the Company’s nonvested stock awards under its long-term performance plans at July 28, 2017:

Long-Term Performance Plan (“LTPP”)	Performance Period		Vesting Period (in Years)
2017 LTPP		2017 – 2018	2 or 3
2016 LTPP		2016 – 2017	2 or 3

Schedule of Outstanding Awards under LTPP

The following table summarizes the shares that have been accrued under the 2017 LTPP and 2016 LTPP at July 28, 2017:

2017 LTPP	13,704
2016 LTPP	28,797

Schedule of Nonvested Stock Activity

A summary of the Company’s nonvested stock activity as of July 28, 2017, and changes during 2017 are presented in the following table:

Nonvested Stock	Shares			Weighted-Average Grant Date Fair Value
Unvested at July 29, 2016		40,437		$	112.52
Granted		94,432			154.63
Vested		(102,852	)		142.93
Forfeited		--			--
Unvested at July 28, 2017		32,017		$	139.04

Aggregate Fair Value of Non Vested Stock

The following table summarizes the total fair value of nonvested stock that vested for each of the three years:

	2017		2016		2015
Total fair value of nonvested stock	$	14,700	$	8,418	$	8,152

Assumptions Used in Determining Fair Value of MSU Grants

The following assumptions were used in determining the fair value for the Company’s MSU Grants:

	Year Ended
	July 29, 2016			July 31, 2015
Dividend yield***		--			--
Expected volatility		23% - 24	%		21	%
Risk-free interest rate range		0.9% - 1.0	%		1.0	%

***Dividends accrue on the 2015 and 2016 MSU Grants. Dividends will be forfeited for any MSU Grants that do not vest.  No MSU Grants were awarded in 2017.

Schedule of Shares Accrued under the MSU Grants

The following table summarizes the shares that have been accrued under the 2015 MSU Grants and 2016 MSU Grants at July 28, 2017:

	Shares
2015 MSU Grants		39,467
2016 MSU Grants		14,565

Schedule of Stock Option Activity

A summary of the Company’s stock option activity as of July 28, 2017, and changes during 2017 are presented in the following table:

Fixed Options	Shares			Weighted- Average Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at July 29, 2016		12,683		$	32.71
Granted		--			--
Exercised		(8,683	)		32.64
Forfeited		--			--
Canceled		--			--
Outstanding at July 28, 2017		4,000		$	32.86		0.33	$	490
Exercisable		4,000		$	32.86		0.33	$	490

Summary of Total Intrinsic Values of Options Exercised

The following table summarizes the total intrinsic values of options exercised during each of the three years:

	2017		2016		2015
Total intrinsic values of options exercised*	$	1,070	$	917	$	4,652

*The intrinsic value for stock options is defined as the difference between the current market value and the grant price.

Components of Share-based Compensation Expense

Compensation Expense

The following table highlights the components of share-based compensation expense for each of the three years:

	2017		2016		2015
Nonvested stock awards and units	$	6,654	$	10,277	$	13,243
MSU Grants		1,804		2,925		2,967
Total compensation expense	$	8,458	$	13,202	$	16,210

Schedule of Unrecognized Compensation Cost, Nonvested Awards

The following table highlights the total unrecognized compensation expense related to nonvested stock awards, nonvested stock units and MSU Grants and the weighted-average periods over which the expense is expected to be recognized as of July 28, 2017:

	Nonvested Stock Awards		Nonvested Stock Units		MSU Grants
Total unrecognized compensation	$	2,692	$	770	$	862
Weighted-average period in years		2.12		2.01		1.02

Total Share-based Compensation Income Tax Benefit

The following table highlights the total income tax benefit recognized in the Consolidated Statements of Income for each of the three years:

	2017		2016		2015
Total income tax benefit	$	2,740	$	3,819	$	5,056