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Long-Term Debt | 9 Months Ended
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Apr. 30, 2012
Long-Term Debt [Abstract] |
Long-Term Debt |
4. | Long-Term Debt
Long-term debt as of April 30, 2012, July 31, 2011 and April 30, 2011 is summarized as follows (in thousands):
|  | Maturity (a) |  |  | April 30, 2012 |  |  | July 31, 2011 |  |  | April 30, 2011 |
Credit Facility Revolver |  |  | 2016 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Industrial Development Bonds |  |  | 2020 |  |  |  | 41,200 |  |  |  | 41,200 |  |  |  | 41,200 |
Employee Housing Bonds |  |  | 2027-2039 |  |  |  | 52,575 |  |  |  | 52,575 |  |  |  | 52,575 |
6.50% Notes (b) |  |  | 2019 |  |  |  | 390,000 |  |  |  | 390,000 |  |  |  | 390,000 |
6.75% Notes |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 43,937 |
Other |  |  | 2012-2029 |  |  |  | 7,101 |  |  |  | 7,968 |  |  |  | 8,124 |
Total debt |  |  |  |  |  |  | 490,876 |  |  |  | 491,743 |  |  |  | 535,836 |
Less: Current maturities (c) |  |  |  |  |  |  | 1,119 |  |  |  | 1,045 |  |  |  | 45,357 |
Long-term debt |  |  |  |  |  | $ | 489,757 |  |  | $ | 490,698 |  |  | $ | 490,479 |
(a) | Maturities are based on the Company's July 31 fiscal year end.
(b) | On April 25, 2011, the Company completed a private offering for $390.0 million of 6.50% Notes. Pursuant to the registration rights agreement executed as part of the offering of the 6.50% Notes, the Company agreed to file a registration statement for an exchange offer registered under the Securities Act of 1933. The registration statement was declared effective on November 16, 2011, and on November 17, 2011, the Company commenced its offer to exchange up to $390.0 million principal amount of newly issued 6.50% Notes, registered under the Securities Act of 1933, for a like principal amount of its outstanding privately placed 6.50% Notes. The exchange offer expired on December 16, 2011 and all of the 6.50% Notes were tendered and exchanged for the new substantially identical registered notes.
(c) | Current maturities represent principal payments due in the next 12 months.
Aggregate maturities for debt outstanding as of April 30, 2012 reflected by fiscal year are as follows (in thousands):
2012 |  | $ | 288 |
2013 |  |  | 839 |
2014 |  |  | 509 |
2015 |  |  | 533 |
2016 |  |  | 244 |
Thereafter |  |  | 488,463 |
Total debt |  | $ | 490,876 |
The Company incurred gross interest expense of $8.4 million and $8.5 million for the three months ended April 30, 2012 and 2011, respectively, of which $0.5 million and $0.4 million, respectively, was amortization of deferred financing costs. The Company had no capitalized interest during the three months ended April 30, 2012 and 2011. The Company incurred gross interest expense of $25.4 million and $25.6 million for the nine months ended April 30, 2012 and 2011, respectively, of which $1.5 million and $1.2 million, respectively, was amortization of deferred financing costs. The Company capitalized $0.1 million and $0.5 million of interest (related to real estate development) during the nine months ended April 30, 2012 and 2011, respectively.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 + Details
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