Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Oct. 31, 2014

Derivative Instruments and Hedging Activities [Abstract]

Summary of Interest Rate Swaps

A summary of the Company’s interest rate swaps at October 31, 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 as of October 31, 2014 and August 1, 2014 were as follows:

(See Note 2)	Balance Sheet Location	October 31, 2014		August 1, 2014
Interest rate swaps	Other assets	$	122	$	240
Interest rate swaps	Current interest rate swap liability	$	3,212	$	4,704
Interest rate swaps	Long-term interest rate swap liability	$	5,388	$	3,239
	Total	$	8,600	$	7,943

Offsetting Assets

The following table summarizes the offsetting of the Company’s derivative assets in the Condensed Consolidated Balance Sheets at October 31, 2014 and August 1, 2014:

	Gross Asset Amounts				Liability Amount Offset				Net Asset Amount Presented in the Balance Sheets
(See Note 2)	October 31, 2014		August 1, 2014		October 31, 2014		August 1, 2014		October 31, 2014		August 1, 2014
Interest rate swaps	$	122	$	240	$	--	$	--	$	122	$	240

Offsetting Liabilities

The following table summarizes the offsetting of the Company’s derivative liabilities in the Condensed Consolidated Balance Sheets at October 31, 2014 and August 1, 2014:

	Gross Liability Amounts				Asset Amount Offset						Net Liability Amount Presented in the Balance Sheets
(See Note 2)	October 31, 2014		August 1, 2014		October 31, 2014			August 1, 2014			October 31, 2014		August 1, 2014
Interest rate swaps	$	8,747	$	8,441	$	(147	)	$	(498	)	$	8,600	$	7,943

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 quarter ended October 31, 2014 and the year ended August 1, 2014:

	Amount of (Loss) Income Recognized in AOCL on Derivatives (Effective Portion)
	Quarter Ended			Year Ended
Cash flow hedges:
Interest rate swaps	$	(775	)	$	3,058

The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters ended October 31, 2014 and November 1, 2013:

	Location of Loss Reclassified from AOCL into Income (Effective Portion)	Amount of Loss Reclassified from AOCL into Income (Effective Portion)
		Quarter Ended
		October 31, 2014		November 1, 2013
Cash flow hedges:
Interest rate swaps	Interest expense	$	2,005	$	2,041