Abercrombie & Fitch 2010 Annual Report Download - page 48

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Table of Contents
OFF-BALANCE SHEET ARRANGEMENTS
As of January 29, 2011, the Company did not have any off-balance sheet arrangements.
CONTRACTUAL OBLIGATIONS
Payments Due by Period (Thousands)
Operating Activities: Total Less than 1 year 1-3 years 3-5 years More than 5 years
Operating Lease Obligations $ 2,618,629 $ 334,030 $ 626,062 $ 547,939 $ 1,110,598
Purchase Obligations 87,707 87,707 — — —
Other Obligations 47,094 21,067 6,900 2,908 16,219
Interest Related to Total Debt 2,720 1,151 1,569 — —
Totals $ 2,756,149 $ 443,955 $ 634,531 $ 550,847 $ 1,126,817
Financing Activities:
Total Debt 43,805 43,805
Dividends — — — — —
Totals $ 43,805 $ — $ 43,805 $ — $ —
Obligations for Operating Activities
Operating lease obligations consist primarily of future minimum lease commitments related to store operating leases. See
Note 10, "Leased Facilities" of the Notes to Consolidated Financial Statements included in "ITEM 8. FINANCIAL STATEMENTS
AND SUPPLEMENTARY DATA" of this Annual Report on Form 10-K, for further discussion. Operating lease obligations do not
include common area maintenance ("CAM"), insurance, marketing or tax payments for which the Company is also obligated. Total
expense related to CAM, insurance, marketing and taxes was $166.2 million in Fiscal 2010.
The purchase obligations category represents purchase orders for merchandise to be delivered during Fiscal 2011 and
commitments for fabric expected to be used during upcoming seasons.
Other obligations are primarily stand-by letters of credit outstanding as of January 29, 2011, lease termination costs related to the
closure of stores, construction debt, capital leases, asset retirement obligations, and information technology contracts for Fiscal 2010.
See Note 14, "Long-Term Debt" of Notes to the Consolidated Financial Statements included in "ITEM 8. FINANCIAL
STATEMENTS AND SUPPLEMENTARY DATA" of this Annual Report on Form 10-K, for further discussion on the letters of
credit.
Interest related to total debt is based on interest rates in effect as of January 29, 2011 and is calculated on debt with maturities
that extend to April 12, 2013. As the contractual interest rates on the debt are variable, actual cash payments may differ from the
estimates provided in the preceding table.
Due to uncertainty as to amounts and timing of future payments, the obligations table above does not include tax (including
accrued interest and penalties) of $21.0 million related to unrecognized tax benefits at January 29, 2011. Deferred taxes are also not
included in the preceding table. For further discussion, see Note 13, "Income Taxes" of the Notes to Consolidated Financial Statements
included in "ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA" of this Annual Report on Form 10-K.
The table above does not include estimated future retirement payments under the Chief Executive Officer Supplemental
Executive Retirement Plan (the "SERP") for the Company's Chief Executive Officer with a present value of $13.3 million at
January 29, 2011. See Note 17, "Retirement Benefits" of the Notes to Consolidated Financial Statements included in "ITEM 8.
FINANCIAL STATEMENTS AND
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