Dillard's 2010 Annual Report Download - page 32

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notes in 2009 partially offset by reduced capitalized interest of $1.2 million. Total weighted average debt
outstanding during fiscal 2009 decreased approximately $285.6 million compared to fiscal 2008.
Gain on Disposal of Assets
(in thousands of dollars) Fiscal 2010 Fiscal 2009 Fiscal 2008
Gain on disposal of assets:
Retail operations segment ................ $5,620 $3,203 $24,563
Construction segment ................... 12 4 4
Total gain on disposal of assets .............. $5,632 $3,207 $24,567
Fiscal 2010
During fiscal 2010, the Company sold three vacant retail store properties located in Austin, Texas,
Macon, Georgia and Chesapeake, Virginia for $7.3 million, resulting in a $3.1 million net pretax gain.
The Company also sold two retail store properties located in Coral Springs, Florida and Miami, Florida
for $10.0 million, resulting in a $2.0 million pretax gain.
Fiscal 2009
During fiscal 2009, the Company sold a vacant retail store location in Kansas City, Missouri
resulting in a $2.3 million pretax gain.
Fiscal 2008
During fiscal 2008, the Company sold its retail store location at Rivercenter in San Antonio, Texas
for $8.0 million, resulting in a pretax gain of $7.2 million on the sale. The Company also purchased a
corporate aircraft by exercising its option under a synthetic lease and by issuing a $23.6 million note
payable, secured by letters of credit. The Company then sold the aircraft for $44.5 million. A pretax
gain of $17.6 million was recognized related to the sale.
Asset Impairment and Store Closing Charges
(in thousands of dollars) Fiscal 2010 Fiscal 2009 Fiscal 2008
Asset impairment and store closing charges:
Retail operations segment ................ $2,208 $3,084 $197,922
Construction segment ................... — — —
Total asset impairment and store closing charges . $2,208 $3,084 $197,922
Fiscal 2010
Asset impairment and store closing charges for fiscal 2010 consisted of the write-down of one
property currently held for sale.
Fiscal 2009
Asset impairment and store closing charges for fiscal 2009 consisted of the write-down of property
of $3.9 million on two stores closed in fiscal 2008. This amount was partially offset by the renegotiation
of a lease that resulted in the reduction of a future rent accrual of $0.8 million on a store closed in
fiscal 2008.
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