Bed, Bath and Beyond 2010 Annual Report Download - page 11
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BED BATH & BEYOND 2010 ANNUAL REPORT
Other Fiscal 2010 Information
credit. Although no assurances can be provided, the Company intends to renew both uncommitted lines of credit before the
planning that the new share repurchase program will commence after completion of the existing share repurchase program. The
Company anticipates that this new program will be funded from current cash and from present and expected future cash flows.
conditions.
The Company has authorization to make repurchases from time to time in the open market or through other parameters
approved by the Board of Directors pursuant to existing rules and regulations.
The Company has contractual obligations consisting mainly of operating leases for stores, offices, warehouse facilities and
as follows:
(in thousands)
Operating lease obligations
Purchase obligations
(1) The amounts presented represent the future minimum lease payments under non-cancelable operating leases. In addition to minimum
rent, certain of the Company’s leases require the payment of additional costs for insurance, maintenance and other costs. These additional
amounts are not included in the table of contractual commitments as the timing and/or amounts of such payments are not known.
As of February 26, 2011, the Company has leased sites for 27 new stores planned for opening in fiscal 2011 or 2012, for which aggregate
minimum rental payments over the term of the leases are approximately $100.1 million and are included in the table above.
(2) Purchase obligations primarily consist of purchase orders for merchandise.
(3) Amounts recorded as deferred rent and other liabilities and income taxes payable in the Consolidated Balance Sheet as of February 26, 2011
have been reflected only in the Total column in the table above as the timing and/or amount of any cash payment is uncertain.
Deferred rent and other liabilities are primarily comprised of deferred rent, workers’ compensation and general liability reserves and
various other accruals.