Fair Value (Tables)

6 Months Ended

May 04, 2019

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 were accounted for at fair value on a recurring basis as of May 4, 2019 and November 3, 2018. 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 May 4, 2019 and November 3, 2018, the Company held $233.6 million and $217.6 million, respectively, of cash and held-to-maturity investments that were excluded from the tables below.



	May 4, 2019
	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	$	370,220	$	—	$	370,220
Corporate obligations (1)	—		109,819		109,819
Other assets:
Deferred compensation investments	43,720		—		43,720
Total assets measured at fair value	$	413,940	$	109,819	$	523,759
Liabilities
Forward foreign currency exchange contracts (2)	—		3,542		3,542
Interest rate derivatives	—		51,644		51,644
Total liabilities measured at fair value	$	—	$	55,186	$	55,186


(1)	The amortized cost of the Company’s investments classified as available-for-sale as of May 4, 2019 was $109.8 million.


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



	November 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	$	394,076	$	—	$	394,076
Corporate obligations (1)	—		204,886		204,886
Other assets:
Deferred compensation investments	41,001		—		41,001
Interest rate derivatives	—		1,436		1,436
Total assets measured at fair value	$	435,077	$	206,322	$	641,399
Liabilities
Forward foreign currency exchange contracts (2)	—		7,150		7,150
Total liabilities measured at fair value	$	—	$	7,150	$	7,150


(1)	The amortized cost of the Company’s investments classified as available-for-sale as of November 3, 2018 was $205.0 million.

(2)

The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 9, Derivatives, in 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. See Note 10, Debt, in these Notes to Condensed Consolidated Financial Statements for further discussion related to outstanding debt.



	May 4, 2019				November 3, 2018
	Principal Amount Outstanding		Fair Value		Principal Amount Outstanding		Fair Value
3-Year term loan, due March 2020	$	75,000	$	75,000	$	425,000	$	425,000
5-Year term loan, due March 2022	1,350,000		1,350,000		1,350,000		1,350,000
2.85% Senior unsecured notes, due March 2020	300,000		300,113		300,000		298,147
2.90% Senior unsecured notes, due January 2021	450,000		450,564		450,000		444,568
2.50% Senior unsecured notes, due December 2021	400,000		396,406		400,000		386,375
2.875% Senior unsecured notes, due June 2023	500,000		495,695		500,000		479,189
3.125% Senior unsecured notes, due December 2023	550,000		554,447		550,000		529,120
3.90% Senior unsecured notes, due December 2025	850,000		874,714		850,000		829,611
3.50% Senior unsecured notes, due December 2026	900,000		903,740		900,000		848,027
4.50% Senior unsecured notes, due December 2036	250,000		251,900		250,000		232,627
5.30% Senior unsecured notes, due December 2045	400,000		452,299		400,000		407,984
Total debt	$	6,025,000	$	6,104,878	$	6,375,000	$	6,230,648