Dillard's 2012 Annual Report Download - page 68

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Notes to Consolidated Financial Statements (Continued)
4. Long-Term Debt
Long-term debt consists of the following:
(in thousands of dollars) February 2, 2013 January 28, 2012
Unsecured notes, at rates ranging from 6.63% to
7.88%, due fiscal 2017 through fiscal 2028 ...... $614,785 $670,155
Term note, payable monthly through fiscal 2012 and
bearing interest at a rate of 5.93% ............ — 20,413
Mortgage note, payable monthly through fiscal 2012
and bearing interest at a rate of 9.25% ......... — 1,006
614,785 691,574
Current portion ........................... — (76,789)
$614,785 $614,785
During fiscal 2011, the Company repurchased $5.7 million face amount of its 6.625% notes with an
original maturity on January 15, 2018. This repurchase resulted in a pretax gain of approximately
$0.2 million which was recorded in net interest and debt expense.
During fiscal 2010, the Company repurchased $1.2 million face amount of its 7.13% notes with an
original maturity on August 1, 2018. This repurchase resulted in a pretax gain of approximately
$21 thousand which was recorded in net interest and debt expense.
There are no financial covenants under any of the debt agreements. There are no maturities of
long-term debt during fiscal 2013 through fiscal 2016, and $87.2 million of long-term debt matures in
fiscal 2017.
Net interest and debt expense consists of the following:
Fiscal Fiscal Fiscal
(in thousands of dollars) 2012 2011 2010
Long-term debt:
Interest ................................. $64,505 $67,915 $70,325
Gain on early retirement of long-term debt ....... — (173) (21)
Amortization of debt expense ................. 1,845 1,732 1,714
66,350 69,474 72,018
Interest on capital lease obligations .............. 961 1,089 1,398
Revolving credit facility expenses ................ 3,702 3,154 2,769
Investment interest income ..................... (1,417) (1,658) (2,393)
$69,596 $72,059 $73,792
Interest paid during fiscal 2012, 2011 and 2010 was approximately $79.0 million, $80.8 million and
$76.4 million, respectively.
F-18