The Company adopted Accounting Standard Update (“ASU” or “Update”) 2015-03 “Simplifying the Presentation of Debt Issuance Costs” in the first quarter of its 2017 fiscal year. This ASU requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct reduction from that debt liability, consistent with the presentation of a debt discount. We adopted this ASU on a retrospective basis, as a result of which our October 30, 2016 and November 1, 2015, consolidated balance sheets and its related long-term borrowings note have been adjusted, as necessary, to reflect this ASU’s adoption. The effect on our  consolidated balance sheets is presented below.

Other Assets

Long term borrowings