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Derivatives (Tables)
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9 Months Ended |
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Aug. 04, 2012
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Net gain or loss on the hedged item |
The gain or loss on the hedged item (that is, the fixed-rate borrowings) attributable to the hedged benchmark interest rate risk and the offsetting gain or loss on the related interest rate swaps for the nine-month periods ended August 4, 2012 and July 30, 2011 were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Statement of income classification | August 4, 2012 | | July 30, 2011 | Loss on Swaps | | Gain on Note | | Net Income Effect | | Loss on Swaps | | Gain on Note | | Net Income Effect | Other income | $ | (769 | ) | | $ | 769 |
| | $ | — |
| | $ | (4,182 | ) | | $ | 4,182 |
| | $ | — |
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| Fair value of hedging instruments |
The fair values of these hedging instruments in the Company’s condensed consolidated balance sheets as of August 4, 2012 and October 29, 2011 were as follows: | | | | | | | | | | | | | | Fair Value At | | Balance Sheet Location | | August 4, 2012 | | October 29, 2011 | Interest rate swap agreements | Other assets | | $ | — |
| | $ | 22,187 |
| Forward foreign currency exchange contracts | Prepaid expenses and other current assets | | $ | — |
| | $ | 2,038 |
| | Accrued liabilities | | $ | 4,039 |
| | $ | — |
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| Effect of derivative instruments designated as cash flow hedges |
The effect of derivative instruments designated as cash flow hedges on the condensed consolidated statements of income for the three- and nine-month periods ended August 4, 2012 and July 30, 2011 were as follows: | | | | | | | | | | Three Months Ended | | August 4, 2012 | | July 30, 2011 | Loss recognized in OCI on derivatives (net of tax of $862 in 2012 and $351 in 2011) | $ | (5,161 | ) | | $ | (2,311 | ) | Loss (gain) reclassified from OCI into income (net of tax of $517 in 2012 and $432 in 2011) | $ | 3,099 |
| | $ | (2,844 | ) |
| | | | | | | | | | Nine Months Ended | | August 4, 2012 | | July 30, 2011 | (Loss) gain recognized in OCI on derivatives (net of tax of $1,807 in 2012 and $693 in 2011) | $ | (11,805 | ) | | $ | 4,344 |
| Loss (gain) reclassified from OCI into income (net of tax of $1,049 in 2012 and $1,027 in 2011) | $ | 6,637 |
| | $ | (6,856 | ) |
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| Amounts reclassified into earnings before tax recognized in cost of sales and operating expenses |
The amounts reclassified into earnings before tax are recognized in cost of sales and operating expenses for the three- and nine-month periods ended August 4, 2012 and July 30, 2011 were as follows: | | | | | | | | | | Three Months Ended | | August 4, 2012 | | July 30, 2011 | Cost of sales | $ | 1,390 |
| | $ | 1,535 |
| Research and development | $ | 978 |
| | $ | 833 |
| Selling, marketing, general and administrative | $ | 1,248 |
| | $ | 908 |
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| | | | | | | | | | Nine Months Ended | | August 4, 2012 | | July 30, 2011 | Cost of sales | $ | 2,912 |
| | $ | 3,784 |
| Research and development | $ | 2,071 |
| | $ | 2,029 |
| Selling, marketing, general and administrative | $ | 2,703 |
| | $ | 2,070 |
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