Abercrombie & Fitch 2011 Annual Report Download - page 51

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Off-Balance Sheet Arrangements
As of January 28, 2012, 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 ..... $3,053,632 $389,540 $745,994 $651,015 $1,267,083
Purchase Obligations ........... 208,917 208,917 — — —
Other Obligations .............. 44,853 15,271 18,918 2,706 7,958
Interest Related to Total Debt .... — — — — —
Totals ....................... $3,307,402 $613,728 $764,912 $653,721 $1,275,041
Financing Activities:
Total Debt .................... 20,917 924 2,099 2,527 15,367
Dividends .................... — — — — —
Totals ....................... $ 20,917 $ 924 $ 2,099 $ 2,527 $ 15,367
Obligations for Operating Activities
Operating lease obligations consist primarily of future minimum lease commitments related to store
operating leases. See Note 11, “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 $158.8 million in Fiscal 2011.
The purchase obligations category represents purchase orders for merchandise to be delivered during
Fiscal 2012 and commitments for fabric expected to be used during upcoming seasons.
Other obligations consist primarily of lease termination obligations related to the closure of stores,
asset retirement obligations, agreements to purchase intellectual property and information technology
contracts for Fiscal 2011. See Note 15, “Long-Term Debt,” of the 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 of the letters of credit and construction debt.
Due to uncertainty as to the amounts and timing of future payments, the contractual obligations table
above does not include tax (including accrued interest and penalties) of $19.5 million related to
unrecognized tax benefits at January 28, 2012. Deferred taxes are also not included in the preceding table.
For further discussion, see Note 14, “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 $14.6 million at January 28, 2012. See Note 18, “Retirement Benefits,” of the Notes
to Consolidated Financial Statements included in “ITEM 8. FINANCIAL STATEMENTS AND
SUPPLEMENTARY DATA” of this Annual Report on Form 10-K and the description of the SERP to be
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