Quarterly report pursuant to Section 13 or 15(d)

Debt

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Debt
3 Months Ended
Feb. 02, 2014
Debt Disclosure [Abstract]  
Debt
Debt

The Company had borrowings at February 2, 2014 of $145.0 million under various short-term credit facilities that provided for up to $245.0 million in borrowings and letters of credit, under which it was required to maintain cash collateral of $31.8 million. Available borrowing was $20.4 million under the $200.0 million Short-Term Financing Program and $19.8 million under the $45.0 million Short-Term Credit Facility as of February 2, 2014.

At February 2, 2014 and November 3, 2013, the Company had outstanding borrowing under the Short-Term Financing Program of $120.0 million and $142.0 million, respectively, and bore a weighted average annual interest rate of 1.6% and 1.5% during the first quarter of fiscal 2014 and 2013, respectively, which is inclusive of certain facility and program fees.

At February 2, 2014 and November 3, 2013, the Company had drawn under the Short-Term Credit Facility $22.2 million and $22.3 million, respectively, in various currencies used to hedge the Company’s net investment in certain foreign subsidiaries and $3.0 million in letters of credit outstanding. During the first quarter of fiscal 2014 and 2013, borrowings bore a weighted average annual interest rate of 1.9% and 1.8%, respectively, inclusive of the facility fee.