NOTE 5 DEBT AND MONEY MARKET SECURITIES

Our debt consists of the following:

	2011		2010
Notes to banks
(weighted average interest rate of 6.59% at October 28, 2011)	$	15,561	$	8,088
Commercial Paper
(0.38% 0.40% at October 28, 2011)		153,955
Total Short-term Debt	$	169,516	$	8,088
Notes to banks (7.43% at October 28, 2011)	$	7,803	$
Senior notes
Due 2012 at 5.625%		200,000
Total Current Portion of Long-term Debt	$	207,803	$
Notes to banks (4.49% 6.77% at October 28, 2011)	$	67,303	$	130,714
Senior notes
Due 2012 at 5.625%				200,000
Due 2015 at 5.10%		150,000		150,000
Due 2017 at 6.05%		150,000		150,000
Due 2019 at 7.25%		300,000		300,000
Industrial development bonds (0.28% at October 28, 2011 payable in 2015)		12,502		12,502
Total Long-term Debt	$	679,805	$	943,216
Total Debt	$	1,057,124	$	951,304

We maintain an unsecured revolving credit facility with a syndicate of banks. During the first quarter of 2011, the facility was expanded from $475,000 to $550,000 and the maturity date was extended from June 30, 2012 to December 31, 2014. We also maintain two unsecured committed revolving bi-lateral credit facilities to the December 2014 bank syndicate facility. One is a U.S. dollar equivalent $14,631 facility that expires June 30, 2012. The second is a U.S. dollar equivalent $87,786 facility expiring September 17, 2013.

Our bank credit facilities consist of the following:


	October 28, 2011
	Total Outstanding		Facility Size
December 2014bank syndicate facility ¹	$	153,955	$	550,000
June 2012bilateral facility		7,803		14,631
September 2013bilateral facility		67,024		87,786
Total unsecured committed revolving credit	$	228,782	$	652,417
Uncommitted bank lines of credit	$	15,840	$	165,568
Total Bank Credit Facilities	$	244,622	$	817,985


	October 29, 2010
	Total Outstanding			Facility Size
December 2014bank syndicate facility ¹	$	50,000	$	475,000
June 2012bilateral facility		7,751		14,534
September 2013bilateral facility		72,963		87,201
Total unsecured committed revolving credit	$	130,714	$	576,735
Uncommitted bank lines of credit	$	8,088	$	125,486
Total Bank Credit Facilities	$	138,802	$	702,221

¹	Our bank syndicate facility includes $153,955 and $0 of commercial paper as of October 28, 2011 and October 29, 2010, respectively. We have a $350,000 commercial paper program backstopped by our $550,000 credit facility.

Our credit facilities have covenants that require us to maintain certain financial ratios. We were in compliance with these covenants as of October 28, 2011. Our debt covenants do not limit, nor are they reasonably likely to limit, our ability to obtain additional debt or equity financing.

To ensure availability of funds, we maintain uncommitted bank lines of credit sufficient to cover outstanding short-term borrowings. These arrangements are reviewed periodically for renewal and modification. Borrowings under these debt arrangements had an average annual interest rate of 6.59% in 2011, 6.57% in 2010 and 5.70% in 2009.

The future maturities of long-term debt are as follows:


	Maturities
2012	$	207,803
2013		67,112
2014		66
2015		162,627
2016
Thereafter		450,000

Interest paid during 2011, 2010 and 2009 was $62,095, $58,067 and $42,648, respectively.

The table below summarizes the carrying value and fair market value of our outstanding debt. The fair market value of our publicly traded debt is based on observable market prices. The fair market value of our non-publicly traded debt was estimated using a discounted cash flow analysis based on our current borrowing costs for debt with similar maturities.


	October 28, 2011
	Balance Sheet (carrying value)		Fair Market Value
Publicly traded debt	$	800,000	$	888,251
Non-publicly traded debt		257,124		255,807
Total Debt	$	1,057,124	$	1,144,058


	October 29, 2010
	Balance Sheet (carrying value)		Fair Market Value
Publicly traded debt	$	800,000	$	917,728
Non-publicly traded debt		151,304		149,853
Total Debt	$	951,304	$	1,067,581

We did not elect the option to report our debt at fair value in our Consolidated Balance Sheets.

Our non-publicly traded debt consists of the following:


	2011		2010
Commercial paper	$	153,955	$
Credit facility borrowings		74,827		130,714
Industrial development bonds		12,502		12,502
Uncommitted borrowings		15,840		8,088
Total Non-publicly Traded Debt	$	257,124	$	151,304

We invest in short-term securities including money market funds with high-credit quality financial institutions and diversify our holdings among such financial institutions to reduce our exposure to credit losses. The fair values of our short-term securities are $38,005 and $41,839 as of October 28, 2011 and October 29, 2010, respectively. The money market funds are included in our cash and cash equivalents and restricted cash balances with the carrying values approximating the fair values as the maturities are less than three months. These assets are classified as Level 1 inputs under the fair value hierarchy. See Note 1 for more information on fair value measurements.

Restricted cash represents cash that is restricted from withdrawal. As of October 28, 2011 and October 29, 2010, we had restricted cash of $20,378 and $12,574, respectively. Such restricted cash primarily serves as collateral for our liability insurance programs.