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NOTES PAYABLE AND LONG-TERM DEBT (Details) (USD $)
In Thousands, unless otherwise specified
Jul. 31, 2013
Jul. 31, 2012
Debt Instrument [Line Items]    
Total long-term debt $ 467,739 $ 491,159
Current portion (420) (453)
Long-term debt, net of current portion 467,319 490,706
Line of Credit [Member] | Senior Revolving Credit Facility Due Fiscal Year 2015 [Member]
   
Debt Instrument [Line Items]    
Total long-term debt 0 [1] 0 [1]
Line of Credit [Member] | Senior Revolving Credit Facility Due Fiscal Year 2018 [Member]
   
Debt Instrument [Line Items]    
Total long-term debt 0 [1] 0 [1]
Senior Notes [Member] | 5.00% Senior Notes Due Fiscal Year 2020 [Member]
   
Debt Instrument [Line Items]    
Total long-term debt 373,629 [2] 373,428 [2]
Long-term Debt [Member]
   
Debt Instrument [Line Items]    
Total long-term debt 2,310 2,602
Long-term Debt [Member] | Jpy Loan Due Fiscal Year 2015 [Member]
   
Debt Instrument [Line Items]    
Total long-term debt $ 91,800 $ 115,129
[1] On April 11, 2013, the Company entered into a five-year $1,200,000 unsecured senior revolving credit facility (the “New Facility”) with a syndicate of banks, which expires on April 11, 2018. The Company terminated the existing $500,000 senior revolving credit facility, which would have expired in fiscal year 2015 (the “Prior Facility”). In connection with the New Facility, the Company incurred deferred financing costs of $3,043, which will be amortized to interest expense over the term of the New Facility. There were no amounts outstanding against the Prior Facility or the New Facility as of July 31, 2013 or July 31, 2012. Letters of credit outstanding against the New Facility as of July 31, 2013 were approximately $7,242.Borrowings under the New Facility bear interest at either a variable rate based upon the London InterBank Offered Rate (U.S. dollar, British Pound, Euro, Swiss Franc and Japanese Yen borrowings) or the European Union Banking Federation Rate (Euro borrowings) or at the prime rate of the Facility Agent (U.S. dollar borrowing only). The New Facility does not permit the Company to exceed a maximum consolidated leverage ratio (Consolidated Funded Debt to Earnings Before Net Interest, Taxes, Depreciation, Amortization and the Non-Cash Portion of Non-Recurring Charges and Income (“EBITDA”)) of 3.50 to 1.00, based upon the trailing four quarters’ results.In addition, the New Facility includes other covenants that under certain circumstances may restrict the Company’s ability to incur additional indebtedness, make investments and other restricted payments, enter into sale and leaseback transactions, create liens and sell assets. As of July 31, 2013, the Company was in compliance with all related financial and other restrictive covenants, including limitations on indebtedness.
[2] On June 18, 2010, the Company issued $375,000 of publicly traded 5.00% Senior Notes, due 2020 (the “Notes”). After the closing of the Notes, the Company received proceeds (net of the discount on the Notes of $2,006 and underwriting fees of $2,438) of $370,556. The Company used the net proceeds from this offering principally (1) to repay its then outstanding balance on the Prior Facility, and (2) for general corporate purposes. The Prior Notes, originally due August 1, 2012, were fully redeemed in July 2010 after the satisfaction of a 30-day notice period. In connection with this redemption, the Company recorded a loss on extinguishment of debt totaling $31,374, primarily comprised of the aforementioned redemption premium and the recognition of previously deferred financing costs related to the Prior Notes. In connection with the Notes, the Company incurred deferred financing costs of $3,455, which are being amortized to interest expense over the term of the Notes. The Notes are unsecured and unsubordinated obligations of the Company and rank pari passu to its other outstanding unsecured and unsubordinated indebtedness.