Fair Value (Tables)

3 Months Ended

Feb. 03, 2018

Fair Value of Financial Assets and Liabilities

The tables below, set forth by level, presents the Company’s financial assets and liabilities, excluding accrued interest components that are accounted for at fair value on a recurring basis as of February 3, 2018 and October 28, 2017. The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of February 3, 2018 and October 28, 2017, the Company held $306.0 million and $296.2 million, respectively, of cash and held-to-maturity investments that were excluded from the tables below.



	February 3, 2018
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	391,726	$	—	$	391,726
Corporate obligations (1)	—		129,784		129,784
Other assets:
Deferred compensation investments	39,841		—		39,841
Interest rate derivatives	—		5,572		5,572
Forward foreign currency exchange contracts (2)	—		10,522		10,522
Total assets measured at fair value	$	431,567	$	145,878	$	577,445


(1)	The amortized cost of the Company’s investments classified as available-for-sale as of February 3, 2018 was $129.8 million.


(2)	The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, of these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements.



	October 28, 2017
	Fair Value measurement at Reporting Date using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total
Assets
Cash equivalents:
Available-for-sale:
Government and institutional money market funds	$	512,882	$	—	$	512,882
Corporate obligations (1)	—		238,796		238,796
Other assets:
Deferred compensation investments	33,510		—		33,510
Interest rate derivatives	—		2,966		2,966
Total assets measured at fair value	$	546,392	$	241,762	$	788,154
Liabilities
Forward foreign currency exchange contracts (2)	—		1,527		1,527
Total liabilities measured at fair value	$	—	$	1,527	$	1,527


(1)	The amortized cost of the Company’s investments classified as available-for-sale as of October 28, 2017 was $238.9 million.


(2)	The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, of these Notes to Condensed Consolidated Financial Statements for more information related to the Company's master netting arrangements.

Schedule of Debt

The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis. The carrying amounts of the term loans approximate fair value. The term loans are classified as Level 2 measurements according to the fair value hierarchy. The fair values of the senior unsecured notes are obtained from broker prices and are classified as Level 1 measurements according to the fair value hierarchy.



	February 3, 2018				October 28, 2017
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value
3-Year term loan	$	1,530,000	1,530,000		1,950,000		1,950,000
5-Year term loan	2,100,000		2,100,000		2,100,000		2,100,000
2021 Notes, due December 2021	400,000		393,128		400,000		399,530
2023 Notes, due June 2023	500,000		489,917		500,000		498,582
2023 Notes, due December 2023	550,000		543,756		550,000		554,411
2025 Notes, due December 2025	850,000		866,552		850,000		884,861
2026 Notes, due December 2026	900,000		884,966		900,000		902,769
2036 Notes, due December 2036	250,000		258,660		250,000		259,442
2045 Notes, due December 2045	400,000		463,074		400,000		460,588
Total Debt	$	7,480,000	$	7,530,053	$	7,900,000	$	8,010,183