Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jan. 30, 2015

Derivative Instruments and Hedging Activities [Abstract]

Summary of Interest Rate Swaps

A summary of the Company’s interest rate swaps at January 30, 2015 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	%
January 30, 2015	May 3, 2019		2		80,000		2.15	%
January 30, 2015	May 3, 2019		2		60,000		2.16	%
January 30, 2015	May 4, 2021		3		120,000		2.41	%
January 30, 2015	May 3, 2019		2		60,000		2.15	%
January 30, 2015	May 4, 2021		3		80,000		2.40	%

Schedule of Estimated Fair Value of Derivative Instruments

The estimated fair values of the Company’s derivative instruments as of January 30, 2015 and August 1, 2014 were as follows:

(See Note 2)	Balance Sheet Location	January 30, 2015		August 1, 2014
Interest rate swaps	Other assets	$	--	$	240
Interest rate swaps	Current interest rate swap liability	$	1,633	$	4,704
Interest rate swaps	Long-term interest rate swap liability		12,957		3,239
Total		$	14,590	$	7,943

Offsetting Assets

The following table summarizes the offsetting of the Company’s derivative assets in the Condensed Consolidated Balance Sheets at January 30, 2015 and August 1, 2014:

	Gross Asset Amounts				Liability Amount Offset				Net Asset Amount Presented in the Balance Sheets
(See Note 2)	January 30, 2015		August 1, 2014		January 30, 2015		August 1, 2014		January 30, 2015		August 1, 2014
Interest rate swaps	$	--	$	240	$	--	$	--	$	--	$	240

Offsetting Liabilities

The following table summarizes the offsetting of the Company’s derivative liabilities in the Condensed Consolidated Balance Sheets at January 30, 2015 and August 1, 2014:

	Gross Liability Amounts				Asset Amount Offset					Net Liability Amount Presented in the Balance Sheets
(See Note 2)	January 30, 2015		August 1, 2014		January 30, 2015		August 1, 2014			January 30, 2015		August 1, 2014
Interest rate swaps	$	14,590	$	8,441	$	--	$	(498	)	$	14,590	$	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 six months ended January 30, 2015 and the year ended August 1, 2014:

	Amount of (Loss) Income Recognized in AOCL on Derivatives (Effective Portion)
	Six Months Ended			Year Ended
Cash flow hedges:
Interest rate swaps	$	(6,887	)	$	3,058

The following table summarizes the pre-tax effects of the Company’s derivative instruments on income for the quarters and six-month periods ended January 30, 2015 and January 31, 2014:

Location of Loss Reclassified from AOCL into Income (Effective Portion)		Amount of Loss Reclassified from AOCL into Income (Effective Portion)
		Quarter Ended				Six Months Ended
		January 30, 2015		January 31, 2014		January 30, 2015		January 31, 2014
Cash flow hedges:
Interest rate swaps	Interest expense	$	2,005	$	1,984	$	4,016	$	4,026