XML 46 R22.htm IDEA: XBRL DOCUMENT
v3.5.0.2

IMMATERIAL CORRECTION TO PRIOR PERIOD FINANCIAL STATEMENTS | 12 Months Ended
--- | ---
Jul. 30, 2016
Accounting Changes and Error Corrections [Abstract] |
IMMATERIAL CORRECTION TO PRIOR PERIOD FINANCIAL STATEMENTS | Correction of Prior Period Errors During the three months ended January 31, 2015, the Company recorded a cumulative adjustment to net sales for $7.7 million related to amounts owed to a customer resulting from an incorrect calculation of contractual obligations to that customer from fiscal year 2009 through fiscal year 2014. The aggregate amount of the reduction in net sales related to this incorrect calculation in fiscal 2015 was $9.3 million, including a $1.6 million reduction in the first quarter of fiscal 2015. The Company reviewed the impact of these corrections in accordance with Securities and Exchange Commission ("SEC") Staff Accounting Bulletin No. 99 "Materiality," and determined that these corrections were not material to prior periods or the periods in which the amounts were recorded. During the fourth quarter of fiscal 2016, the Company revised previously reported amounts for identified errors in accounting for early payment discounts on inventory purchases. Management considered both the quantitative and qualitative factors within the provisions of SEC Staff Accounting Bulletin No. 99, "Materiality", and Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements. Based on evaluation of the errors, management has concluded that the prior period errors were immaterial to the previously issued consolidated financial statements. Refer to Note 15, "Immaterial Correction of Prior Period Financial Statements" for further detail. IMMATERIAL CORRECTION TO PRIOR PERIOD FINANCIAL STATEMENTS During the fourth quarter of fiscal 2016, the Company revised previously reported amounts for identified errors in accounting for early payment discounts on inventory purchases. Management considered both the quantitative and qualitative factors within the provisions of SEC Staff Accounting Bulletin No. 99, Materiality, and Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements. Based on evaluation of the errors, management has concluded that the prior period errors were immaterial to the previously issued financial statements. As such, management has elected to correct the identified error in the prior periods. In doing so, balances in the consolidated financial statements included to which this footnote relates have been adjusted to reflect the correction in the proper periods. Future filings that include prior periods will be corrected, as needed, when filed. The effect of recording the immaterial correction in the consolidated financial statements as of August 1, 2015 and August 2, 2014 is as follows (amounts in thousands, except per share amounts):
| As of and for the fiscal year ended August 1, 2015 |
| As Reported |  | As Revised |
Consolidated Balance Sheet |  |  |  |
Inventories | $ | 982,559 |  |  | $ | 975,194 |  |
Total current assets | 1,553,742 |  |  | 1,546,377 |  |
Total assets | 2,550,190 |  |  | 2,540,994 |  | (1)
Accrued expenses and other current liabilities | 129,113 |  |  | 126,193 |  |
Total current liabilities | 530,860 |  |  | 527,940 |  |
Total liabilities | 1,164,657 |  |  | 1,159,906 |  | (1)
Retained earnings | 983,891 |  |  | 979,446 |  |
Total stockholders’ equity | 1,385,533 |  |  | 1,381,088 |  |
Total liabilities and stockholders’ equity | 2,550,190 |  |  | 2,540,994 |  | (1)
Consolidated Statement of Stockholders' Equity |  |  |  |
Retained earnings beginning of year | $ | 845,157 |  |  | $ | 840,712 |  |
Retained earnings end of year | 983,891 |  |  | 979,446 |  |
| As of and for the fiscal year ended August 2, 2014 |
| As Reported |  | As Revised |
Consolidated Statement of Stockholders' Equity |  |  |  |
Retained Earnings beginning of year | $ | 719,675 |  |  | $ | 715,230 |  |
Retained earnings end of year | 845,157 |  |  | 840,712 |  |
(1) Amounts are also reflective of a reclassification of debt issuance costs of $1.8 million as the Company early adopted ASU No. 2015-03 during the fourth quarter of fiscal 2016. Refer to Note 1 "Significant Accounting Policies" for further detail.

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22644-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22595-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e30840-122693 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration