INTEREST RATE SWAP AGREEMENT

12 Months Ended

Jan. 28, 2012

INTEREST RATE SWAP AGREEMENT

INTEREST RATE SWAP AGREEMENT

NOTE 15—INTEREST RATE SWAP AGREEMENT

        The Company entered into an interest rate swap for a notional amount of $145.0 million that is designated as a cash flow hedge on the first $145.0 million of the Company's Senior Secured Term Loan facility. The interest rate swap converts the variable LIBOR portion of the interest payments to a fixed rate of 5.036% and terminates in October 2013. As of January 28, 2012 and January 29, 2011, the fair value of the swap was a net $12.5 million and $16.4 million payable, respectively, recorded within other long-term liabilities on the balance sheet.