XML 66 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Credit Facility
3 Months Ended
Jan. 31, 2012
Credit Facility [Abstract]  
Credit Facility

Note 8. Credit Facility

On October 14, 2011, the Company entered into a five-year, $350.0 million senior unsecured revolving credit facility providing for loans to the Company and its foreign subsidiaries. The facility replaces the Company's previous $300.0 million senior unsecured facility, which was terminated effective October 14, 2011The facility contains financial covenants requiring the Company to operate within a maximum leverage ratio and specified levels of cash, as well as other non-financial covenants. The facility terminates on October 14, 2016. Borrowings under the facility bear interest at a floating rate based on a margin over the Company's choice of base rates as defined in the credit agreement. In addition, commitment fees are payable on the facility at rates between 0.150% and 0.300% per year based on the Company's leverage ratio. As of January 31, 2012, the Company had no outstanding borrowings under this credit facility and was in compliance with all covenants. Also, see Note 18, Subsequent Events.