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Fair Value Measurements
6 Months Ended
Apr. 28, 2012
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Fair Value Measurements
The Company applies fair value measurements for both financial and nonfinancial assets and liabilities. The Company has no nonfinancial assets and liabilities that are required to be measured at fair value on a recurring basis as of April 28, 2012.
The Company did not elect to measure any eligible financial instruments at fair value as April 28, 2012 and October 29, 2011.
Fair Value Hierarchy
The Company utilizes a fair value hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
Assets and liabilities measured and recorded at fair value on a recurring basis as of April 28, 2012 were as follows (in thousands):
 
 
 
Fair Value Measurements Using
 
Balance as of
April 28, 2012
 
Quoted Prices in
Active Markets
For Identical
Instruments
(Level 1)
 
Significant  Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market funds (1)
$
238,958

 
$
238,958

 
$

 
$

Corporate bonds
797

 

 
797

 

Derivative assets
742

 

 
742

 

Total assets measured at fair value
$
240,497

 
$
238,958

 
$
1,539

 
$

Liabilities:
 
 
 
 
 
 
 
Derivative liabilities
$
3,436

 
$

 
$
3,436

 
$

Total liabilities measured at fair value
$
3,436

 
$

 
$
3,436

 
$

 
(1)
Money market funds are reported within “Cash and cash equivalents” on the Condensed Consolidated Balance Sheets.
Assets and liabilities measured and recorded at fair value on a recurring basis as of October 29, 2011 were as follows (in thousands):
 
 
 
Fair Value Measurements Using
 
Balance as of
October 29, 2011
 
Quoted Prices in
Active Markets
For Identical
Instruments
(Level 1)
 
Significant  Other
Observable
Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
Money market funds (1)
$
138,959

 
$
138,959

 
$

 
$

Corporate bonds
774

 

 
774

 

Derivative assets
1,368

 

 
1,368

 

Total assets measured at fair value
$
141,101

 
$
138,959

 
$
2,142

 
$

Liabilities:
 
 
 
 
 
 
 
Derivative liabilities
$
1,790

 
$

 
$
1,790

 
$

Total liabilities measured at fair value
$
1,790

 
$

 
$
1,790

 
$

 
(1)
Money market funds are reported within “Cash and cash equivalents” on the Condensed Consolidated Balance Sheets.
During the six months ended April 28, 2012, the Company had no transfers between levels of the fair value hierarchy of its assets measured at fair value.