Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Aug. 01, 2014

Derivative Instruments and Hedging Activities [Abstract]

Summary of interest rate swaps

A summary of the Company's interest rate swaps at August 1, 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	%
June 18, 2014	May 3, 2015		4		40,000		2.51	%
June 24, 2014	May 3, 2015		4		30,000		2.51	%
July 1, 2014	May 5, 2015		4		30,000		2.43	%

Schedule of estimated fair value of derivative instruments

The estimated fair values of the Company's derivative instruments were as follows:

(See Note 3)	Balance Sheet Location	August 1, 2014		August 2, 2013
Interest rate swaps	Other assets	$	240	$	883
Interest rate swaps	Current interest rate swap liability	$	4,704	$	--
Interest rate swaps	Long-term interest rate swap liability		3,239		11,644
Total liabilities		$	7,943	$	11,644

Offsetting Assets

The following table summarizes the offsetting of the Company's derivative assets in the Consolidated Balance Sheets at August 1, 2014 and August 2, 2013:

	Gross Asset Amounts				Liability Amount Offset					Net Asset Amount Presented in the Balance Sheets
(See Note 3)	August 1, 2014		August 2, 2013		August 1, 2014		August 2, 2013			August 1, 2014		August 2, 2013
Interest rate swaps	$	240	$	1,159	$	--	$	(276	)	$	240	$	883

Offsetting Liabilities

The following table summarizes the offsetting of the Company’s derivative liabilities in the Consolidated Balance Sheets at August 1, 2014 and August 2, 2013:

	Gross Liability Amounts				Asset Amount Offset						Net Liability Amount Presented in the Balance Sheets
(See Note 3)	August 1, 2014		August 2, 2013		August 1, 2014			August 2, 2013			August 1, 2014		August 2, 2013
Interest rate swaps	$	8,441	$	13,120	$	(498	)	$	(1,476	)	$	7,943	$	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 each of the three years:

	Amount of Income Recognized in AOCL on Derivatives (Effective Portion)
	2014		2013		2012
Cash flow hedges:
Interest rate swaps	$	3,058	$	23,620	$	17,223

Changes in AOCL, net of tax, related to Company's interest rate swaps

The following table summarizes the changes in AOCL, net of tax, related to the Company's interest rate swaps for the year ended August 1, 2014:

AOCL balance at August 2, 2013	$	(6,612	)
Other comprehensive income before reclassifications		6,836
Amounts reclassified from AOCL into earnings		(4,957	)
Other comprehensive income, net of tax		1,879
AOCL balance at August 1, 2014	$	(4,733	)

Amounts reclassified out of AOCL related to Company's interest rate swaps

The following table summarizes the pre-tax effects of the Company's derivative instruments on income for each of the three years:

Location of Loss Reclassified from AOCL into Income (Effective Portion)		Amount of Loss Reclassified from AOCL into Income (Effective Portion)
		2014		2013		2012
Cash flow hedges:
Interest rate swaps	Interest expense	$	8,068	$	20,773	$	35,903

The following table summarizes the amounts reclassified out of AOCL related to the Company's interest rate swaps for the year ended August 1, 2014:

				Affected Line Item in the
Details about AOCL				Consolidated Statement of Income
Loss on cash flow hedges:
Interest rate swaps	$	(8,068	)	Interest expense
Tax benefit		3,111		Provision for income taxes
	$	(4,957	)	Net of tax