Debt (Tables)

12 Months Ended

Feb. 02, 2013

Components of Debt

Debt as of February 2, 2013 and January 28, 2012 included the following components (in thousands):

	February 2, 2013		January 28, 2012
Long-term debt:
Senior secured term loan facility due 2014	$	—	$	1,154,310
Senior fixed rate notes due 2015		220,270		220,270
Senior toggle notes due 2015		302,190		302,190
Senior subordinated notes due 2017		259,612		259,612
Senior secured first lien notes due 2019 (1)		1,141,294		—
Senior secured second lien notes due 2019		450,000		450,000
Long-term debt	$	2,373,366	$	2,386,382
Obligation under capital lease	$	17,232	$	17,290

(1) Amount includes unamortized premium of $16,294 as of February 2, 2013.

Total Debt Maturities

As of February 2, 2013, the Company’s total debt maturities are as follows for each of the following fiscal years (in thousands):

	Capital Leases			Debt
2013	$	2,266		$	—
2014		2,311			—
2015		2,357			522,460
2016		2,404			—
2017		2,453			—
Thereafter		32,774			1,834,612
Total		44,565		$	2,357,072
Imputed interest		(27,279	)
Present value of minimum capital lease principal payments		17,286
Current portion		54
Long-term capital lease obligation	$	17,232

Components of Interest Expense, Net

The Company’s interest expense, net for Fiscal 2012, Fiscal 2011 and Fiscal 2010 included the following components (in thousands):

	Fiscal 2012			Fiscal 2011			Fiscal 2010
Term loan facility	$	17,644		$	38,226		$	53,255
Revolving credit facility		935			1,576			6,110
Senior fixed rate notes		20,663			20,663			22,605
Senior toggle notes		29,493			32,263			36,881
Senior subordinated notes		27,642			27,118			27,620
Senior secured first lien notes		62,504			—			—
Senior secured second lien notes		40,716			36,120			—
Note payable to bank		—			5,535			85
Capital lease obligation		2,203			2,151			1,232
Amortization of deferred debt issue costs		9,927			13,106			10,005
Accretion of debt premium		(831	)		—			—
Other interest expense		99			98			57
Interest income		(198	)		(381	)		(144	)
Interest expense, net	$	210,797		$	176,475		$	157,706

Components of Accrued Interest Payable

Accrued interest payable as of February 2, 2013 and January 28, 2012 consisted of the following components (in thousands):

	February 2, 2013		January 28, 2012
Term loan facility	$	—	$	4,409
Revolving credit facility		75		93
Senior fixed rate notes		3,582		3,303
Senior toggle notes		5,114		4,714
Senior subordinated notes		4,793		4,418
Senior secured first lien notes		39,220		—
Senior secured second lien notes		15,470		14,922
Total accrued interest payable	$	68,254	$	31,859

Note Repurchase Activity

The following is a summary of the Company’s note repurchase activity during Fiscal 2011 and Fiscal 2010 (in thousands): There was no debt repurchase activity during Fiscal 2012.

	Fiscal 2011
	Principal		Repurchase		Recognized
Notes Repurchased	Amount		Price		Gain (1)
Senior Fixed Rate Notes	$	15,730	$	15,213	$	260
Senior Toggle Notes		69,617		63,130		6,145
	$	85,347	$	78,343	$	6,405

(1) Net of deferred issuance cost write-offs of $257 for the Senior Fixed Rate Notes and $796 for the Senior Toggle Notes, and accrued interest write-off of $455 for the Senior Toggle Notes.

	Fiscal 2010
	Principal		Repurchase		Recognized
Notes Repurchased	Amount		Price		Gain (1)
Senior Fixed Rate Notes	$	14,000	$	12,268	$	1,467
Senior Toggle Notes		57,173		49,798		7,612
Senior Subordinated Notes		22,625		17,799		4,309
	$	93,798	$	79,865	$	13,388

(1) Net of deferred issuance cost write-offs of $265 for the Senior Fixed Rate Notes, $922 for the Senior Toggle Notes and $517 for the Senior Subordinated Notes, and accrued interest write-off of $1,159 for the Senior Toggle Notes.

Senior subordinated notes

Redemption Prices of Senior Notes

The Company may redeem the Senior Subordinated Notes at its option, subject to certain notice provisions, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on June 1 of the years set forth below:

Period	Redemption Price
2012		105.25	%
2013		103.50	%
2014		101.75	%
2015 and thereafter		100.00	%

Senior secured second lien notes

Redemption Prices of Senior Notes

On or after March 15, 2015, the Company may redeem the Senior Secured Second Lien Notes at its option, subject to certain notice provisions, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on March 15 of the years set forth below:

Period	Redemption Price
2015		104.438	%
2016		102.219	%
2017 and thereafter		100.000	%

Senior secured first lien notes

Redemption Prices of Senior Notes

On or after March 15, 2015, the Company may redeem the 9.0% Senior Secured First Lien Notes at its option, subject to certain notice provisions, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest to the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on March 15 of the years set forth below:

Period	Redemption Price
2015		106.750	%
2016		104.500	%
2017		102.250	%
2018 and thereafter		100.000	%

Senior Fixed Rate Notes

Redemption Prices of Senior Notes

The Company may redeem the Senior Notes at its option, subject to certain notice provisions at the following redemption prices (expressed as percentage of principal amount), plus accrued and unpaid interest to the redemption date (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on June 1 of the years set forth below:

Period	Senior Fixed Rate Notes			Senior Toggle Notes
2012		102.313	%		102.406	%
2013 and thereafter		100.000	%		100.000	%