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Financing Arrangements
9 Months Ended
Oct. 29, 2011
Financing Arrangements [Abstract]  
Financing Arrangements

Income tax payments, net of refunds received, for the nine months ended October 29, 2011 and October 30, 2010 were $25,045,000 and $21,282,000, respectively.

As of October 29, 2011, the Company had an unsecured revolving credit agreement of $35.0 million. The revolving credit agreement is committed until August 2013. The credit agreement contains various financial covenants and limitations, including the maintenance of specific financial ratios with which the Company was in compliance as of October 29, 2011. There were no borrowings outstanding under this credit facility during the nine months ended October 29, 2011 or October 30, 2010. Interest on any borrowings is based on LIBOR, which was 0.25% at October 29, 2011.

 

At October 29, 2011 and October 30, 2010 the Company had approximately $4.2 million and $5.7 million, respectively, of outstanding irrevocable letters of credit relating to purchase commitments.