Cabela's 2009 Annual Report Download - page 98

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89
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
7. ACCRUED EXPENSES
Accrued expenses consisted of the following at the years ended:
2009 2008
Accrued employee compensation and benefits $ 59,764 $45,662
Accrued property, sales, and other taxes 26,118 24,622
Deferred revenue and accrued sales returns 32,594 24,632
Accrued interest 7,620 7,548
Accrued credit card fees 5,991 5,507
Other 13,710 15,325
$145,797 $123,296
8. OTHER LONG-TERM LIABILITIES
Other long-term liabilities consisted of the following at the years ended:
2009 2008
Deferred lease tenant allowances $ 40,118 $37,823
Deferred grant income 19,305 10,041
Deferred compensation 349 5,192
Unrecognized tax benefits 3,672 3,076
$63,444 $56,132
9. TIME DEPOSITS
WFB accepts time deposits only in amounts of at least one hundred thousand dollars. All time deposits are interest
bearing. The aggregate amount of time deposits by maturity at the end of 2009 was as follows:
2010 $120,384
2011 134,420
2012 86,557
2013 103,191
2014 31,912
Thereafter 200
476,664
Less current maturities (120,384)
Deposits classified as non-current liabilities $ 356,280
Time deposits include brokered institutional certificates of deposit totaling $452,182 and $447,782 at the end of
2009 and 2008, respectively.
10. REVOLVING CREDIT FACILITIES
Effective December 11, 2009, we decreased our unsecured revolving credit facility to $350,000 from $430,000. In
addition, we amended the terms of the credit agreement to allow us to contribute up to $225,000 of capital to WFB in 2010
plus up to $25,000 of capital per year through June 30, 2012, when this credit agreement expires. We paid fees totaling
$1,850 to facilitate the amendment. All other terms of the credit agreement remained unchanged. The credit facility may
be increased to $450,000 and permits the issuance of up to $200,000 in letters of credit and standby letters of credit, which
reduce the overall credit limit available under the credit facility.