Stock-Based Compensation (Tables)

9 Months Ended

Jan. 25, 2014

Stock-Based Compensation [Abstract]

Stock-based compensation expense recognized in consolidated statement of income

The table below summarizes the total stock-based compensation expense recognized for all outstanding grants in our consolidated statement of income:

	Third Quarter Ended				Nine Months Ended
(Unaudited, amounts in thousands)	1/25/14		1/26/13		1/25/14		1/26/13
Equity-based awards expense	$	1,700	$	1,239	$	7,371	$	8,198
Liability-based awards expense		2,203		314		5,993		1,205
Total stock-based compensation expense	$	3,903	$	1,553	$	13,364	$	9,403

Schedule of grants made during the period

The table below summarizes the grants made during the first nine months of fiscal 2014:

(Unaudited, shares/units in thousands)	Shares/units granted	Liability/ Equity award	Settlement
Stock options	175	Equity	Common shares
Stock appreciation rights (“SARs”)	142	Liability	Cash
Restricted stock units – employees	125	Liability	Cash
Restricted stock units – directors	34	Equity	Common shares
Performance-based units	35	Liability	Cash
Performance-based shares	191	Equity	Common shares

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Valuation Assumptions

The fair value of stock options granted during the first quarter of fiscal 2014 was calculated using the following assumptions:

(Unaudited)	7/27/13
Risk-free interest rate		0.84	%
Dividend rate		0.84	%
Expected life in years		5.0
Stock price volatility		81.3	%
Fair value per share	$	11.63

Stock Appreciation Rights (SARs) [Member] | 2014 Grant Remeasured [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Valuation Assumptions

The fair value of the SARs granted during the first quarter of fiscal 2014 was remeasured at January 25, 2014, using the following assumptions:

(Unaudited)	1/25/14
Risk-free interest rate		1.58	%
Dividend rate		0.90	%
Expected life in years		4.39
Stock price volatility		53.14	%
Fair value per share	$	13.94

Stock Appreciation Rights (SARs) [Member] | 2013 Grant Remeasured [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Valuation Assumptions

In fiscal 2013, we granted SARs as described in our Form 10-K for the fiscal year ended April 27, 2013.  The fair value of the SARs granted during fiscal 2013 was remeasured at January 25, 2014, using the following assumptions:

(Unaudited)	1/25/14
Risk-free interest rate		0.69	%
Dividend rate		0.90	%
Expected life in years		3.46
Stock price volatility		50.44	%
Fair value per share	$	16.31