XML 34 R70.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTES PAYABLE AND LONG-TERM DEBT (Details Textuals)
12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 0 Months Ended 12 Months Ended
Jul. 31, 2012
USD ($)
Jul. 31, 2011
USD ($)
Jul. 31, 2010
USD ($)
Jul. 13, 2010
Senior Revolving Credit Facility Due Fiscal Year 2015 [Member]
USD ($)
Jul. 31, 2012
Senior Revolving Credit Facility Due Fiscal Year 2015 [Member]
Jul. 13, 2010
Senior Revolving Credit Facility Due Fiscal Year 2011 [Member]
USD ($)
Jul. 11, 2010
Senior Revolving Credit Facility Due Fiscal Year 2011 [Member]
USD ($)
Jul. 13, 2010
Six Percent Private Placement Senior Notes Due Fiscal Year 2013 [Member]
USD ($)
Jun. 18, 2010
Six Percent Private Placement Senior Notes Due Fiscal Year 2013 [Member]
USD ($)
Jun. 18, 2010
Five Percent Senior Notes Due Fiscal Year 2020 [Member]
USD ($)
Jul. 31, 2012
Five Percent Senior Notes Due Fiscal Year 2020 [Member]
USD ($)
Jul. 31, 2011
Five Percent Senior Notes Due Fiscal Year 2020 [Member]
USD ($)
Jul. 31, 2012
Jpy Loan Due Fiscal Year 2015 [Member]
USD ($)
Jul. 31, 2011
Jpy Loan Due Fiscal Year 2015 [Member]
USD ($)
May 26, 2010
Jpy Loan Due Fiscal Year 2015 [Member]
JPY (¥)
Jul. 31, 2012
Commercial Paper [Member]
USD ($)
Jul. 31, 2012
Minimum [Member]
Commercial Paper [Member]
Jul. 31, 2012
Maximum [Member]
Commercial Paper [Member]
Jul. 31, 2012
Letter of Credit [Member]
USD ($)
Jul. 31, 2012
Letter of Credit [Member]
Senior Revolving Credit Facility Due Fiscal Year 2015 [Member]
USD ($)
Debt Instrument [Line Items]                                        
Maximum Unsecured commercial paper note $ 600,000,000                                      
Maximum Unsecured Commercial Paper Note And Senior Revolving Credit Facility 600,000,000                                      
Short term borrowings 204,940,000 214,957,000                           204,940,000        
Interest rate, minimum                               0.37%        
Interest rate, maximum                               0.53%        
Term of debt instrument       5 years                         1 day 62 days    
Date on which company entered into revolving credit facility       July 13, 2010                                
Line of credit facility capacity       500,000,000     500,000,000                          
Expiration date of unsecured senior revolving credit facility       July 13, 2015                                
Additional borrowings, new facility       295,000,000                                
Redemption of Senior notes               280,000,000                        
Redemption Premium 0 0 28,268,000         28,268,000                        
Redemption premium on senior notes paid through new facility borrowed               13,268,000                        
Deferred financing costs               2,856,000   3,455,000                    
Unamortized Deferred Financing Cost Write Off 0 0 3,245,000     139,000                            
Minimum interest coverage ratio         3.50 to 1.00                              
Debt Instrument, Covenant Compliance         3.50 to 1.00                              
Publicly traded notes issued by the Company                   375,000,000         9,000,000,000          
Unsecured Debt                     373,428,000 [1] 373,228,000 [1] 115,129,000 [2] 115,803,000 [2]            
Percentage of interest on senior notes issued               6.00%   5.00%         2.33%          
Discount on the new Notes issued                   2,006,000                    
Underwriting fees 0 0 6,311,000             2,438,000                    
Proceeds from New notes                   370,556,000                    
Loss on extinguishment of debt 0 0 31,513,000           31,374,000                      
Interest Expense Increase Decrease To Related To Income Taxes Payable 1,653,000 (485,000) (6,807,000)                                  
Weighted average borrowing interest rate 0.48% 0.38%                                    
Long term Debt Weighted Average Interest Rate 3.23% 3.16%                                    
Unsecured Credit Facilities 196,220,000                                      
Unsecured credit facilities, compensating balances 2,648,000                                      
Unsecured Credit Facilities Committed To Other Programs                                     $ 68,656,000 $ 7,493,000
[1] 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.
[2] On May 26, 2010, the Company refinanced its loan of JPY 9 billion (approximately $115,129 as of July 31, 2012), which was originally due on June 20, 2010, to May 26, 2015. Under the new financing agreement, interest is fixed at a rate of 2.33%. Previously, the interest payments were at a variable rate based upon Yen LIBOR. The Company designated this borrowing as a non-derivative hedge of a portion of its net JPY investment in a Japanese subsidiary.