Quarterly report pursuant to Section 13 or 15(d)

Restricted Cash and Short-Term Investments

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Restricted Cash and Short-Term Investments
3 Months Ended
Feb. 02, 2014
Cash and Cash Equivalents [Abstract]  
Restricted Cash and Short-Term Investments
Restricted Cash and Short-Term Investments

Restricted cash and short-term investments include amounts related to requirements under certain contracts with managed service program customers for whom the Company manages the customers’ contingent staffing requirements, including processing of associate vendor billings into single, combined customer billings and distribution of payments to associate vendors on behalf of customers, as well as minimum cash deposits required to be maintained as collateral associated with the Company’s Short-Term Credit Facility. Distribution of payments to associate vendors are generally made shortly after receipt of payment from customers, with undistributed amounts included in restricted cash and accounts payable between receipt and distribution of these amounts. Changes in restricted cash collateral for credit facilities is reflected in financing activities while changes in restricted cash under managed service programs is classified as an operating activity, as this cash is directly related to the operations of this business.

At February 2, 2014 and November 3, 2013, restricted cash and short-term investments included $14.3 million and $15.6 million, respectively, restricted for payment to associate vendors and $31.8 million and $31.8 million, respectively, restricted as collateral under the Short-Term Credit Facility.

At February 2, 2014 and November 3, 2013, restricted cash and short-term investments included $5.7 million and $6.1 million, respectively, of short-term investments. These short-term investments primarily consisted of the fair value of deferred compensation investments corresponding to employees’ selections, primarily in mutual funds, based on quoted prices in active markets for identical assets.