Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

May 02, 2014

Derivative Instruments and Hedging Activities [Abstract]

Summary of interest rate swaps

A summary of the Company’s interest rate swaps at May 2, 2014 is as follows:

Trade Date	Effective Date	Term (in Years)		Notional Amount		Fixed Rate
August 10, 2010	May 3, 2013		2	$	200,000		2.73	%
July 25, 2011	May 3, 2013		2		50,000		2.00	%
July 25, 2011	May 3, 2013		3		50,000		2.45	%
September 19, 2011	May 3, 2013		2		25,000		1.05	%
September 19, 2011	May 3, 2013		2		25,000		1.05	%
December 7, 2011	May 3, 2013		3		50,000		1.40	%
March 18, 2013	May 3, 2015		3		50,000		1.51	%
April 8, 2013	May 3, 2015		2		50,000		1.05	%
April 15, 2013	May 3, 2015		2		50,000		1.03	%
April 22, 2013	May 3, 2015		3		25,000		1.30	%
April 25, 2013	May 3, 2015		3		25,000		1.29	%

Schedule of estimated fair value of derivative instruments

The estimated fair values of the Company’s derivative instruments as of May 2, 2014 and August 2, 2013 were as follows:

(See Note 2)	Balance Sheet Location	May 2, 2014		August 2, 2013
Interest rate swaps	Other assets	$	508	$	883
Interest rate swaps	Long-term interest rate swap liability	$	7,908	$	11,644

Offsetting Assets

The following table summarizes the offsetting of the Company’s derivative assets in the Condensed Consolidated Balance Sheets at May 2, 2014 and August 2, 2013:

	Gross Asset Amounts				Liability Amount Offset						Net Asset Amount Presented in the Balance Sheets
(See Note 2)	May 2, 2014		August 2, 2013		May 2, 2014			August 2, 2013			May 2, 2014		August 2, 2013
Interest rate swaps	$	708	$	1,159	$	(200	)	$	(276	)	$	508	$	883

Offsetting Liabilities

The following table summarizes the offsetting of the Company’s derivative liabilities in the Condensed Consolidated Balance Sheets at May 2, 2014 and August 2, 2013:

	Gross Liability Amounts				Asset Amount Offset						Net Liability Amount Presented in the Balance Sheets
(See Note 2)	May 2, 2014		August 2, 2013		May 2, 2014			August 2, 2013			May 2, 2014		August 2, 2013
Interest rate swaps	$	8,839	$	13,120	$	(931	)	$	(1,476	)	$	7,908	$	11,644

Schedule of pre-tax effects of derivative instruments on income and AOCL

The following table summarizes the pre-tax effects of the Company’s derivative instruments on AOCL for the nine months ended May 2, 2014 and the year ended August 2, 2013:

	Amount of Income Recognized in AOCL on Derivatives (Effective Portion)
	Nine Months Ended		Year Ended
	May 2, 2014		August 2, 2013
Cash flow hedges:
Interest rate swaps	$	3,361	$	23,620

The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and nine-month periods ended May 2, 2014 and May 3, 2013:

	Location of Loss Reclassified from AOCL into Income (Effective Portion)	Amount of Loss Reclassified from AOCL into Income (Effective Portion)
		Quarter Ended				Nine Months Ended
		May 2, 2014		May 3, 2013		May 2, 2014		May 3, 2013
Cash flow hedges:
Interest rate swaps	Interest expense	$	2,007	$	13,743	$	6,033	$	20,773