Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

May 01, 2015

Derivative Instruments and Hedging Activities [Abstract]

Summary of Interest Rate Swaps

A summary of the Company’s interest rate swaps at May 1, 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 May 1, 2015 and August 1, 2014 were as follows:

(See Note 2)	Balance Sheet Location	May 1, 2015		August 1, 2014
Interest rate swaps	Other assets	$	3,146	$	240
Interest rate swaps	Current interest rate swap liability	$	68	$	4,704
Interest rate swaps	Long-term interest rate swap liability		9,633		3,239
	Total	$	9,701	$	7,943

Offsetting Assets

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

	Gross Asset Amounts				Liability Amount Offset					Net Asset Amount Presented in the Balance Sheets
(See Note 2)	May 1, 2015		August 1, 2014		May 1, 2015			August 1, 2014		May 1, 2015		August 1, 2014
Interest rate swaps	$	3,245	$	240	$	(99	)	$	--	$	3,146	$	240

Offsetting Liabilities

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

	Gross Liability Amounts				Asset Amount Offset					Net Liability Amount Presented in the Balance Sheets
(See Note 2)	May 1, 2015		August 1, 2014		May 1, 2015		August 1, 2014			May 1, 2015		August 1, 2014
Interest rate swaps	$	9,701	$	8,441	$	--	$	(498	)	$	9,701	$	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 nine months ended May 1, 2015 and the year ended August 1, 2014:

	Amount of Income Recognized in AOCL on Derivatives (Effective Portion)
	Nine Months Ended May 1, 2015		Year Ended August 1, 2014
Cash flow hedges:
Interest rate swaps	$	1,148	$	3,058

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 1, 2015 and May 2, 2014:

	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 1, 2015		May 2, 2014		May 1, 2015		May 2, 2014
Cash flow hedges:
Interest rate swaps	Interest expense	$	2,040	$	2,007	$	6,055	$	6,033