Dillard's 2012 Annual Report Download - page 78

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Notes to Consolidated Financial Statements (Continued)
12. Commitments and Contingencies (Continued)
The future minimum rental commitments as of February 2, 2013 for all non-cancelable leases for
buildings and equipment are as follows:
(in thousands of dollars) Operating Capital
Fiscal Year Leases Leases
2013 ............................................ $21,353 $ 2,488
2014 ............................................ 19,683 1,428
2015 ............................................ 18,049 1,428
2016 ............................................ 12,718 1,428
2017 ............................................ 7,564 1,428
After 2017 ....................................... 9,684 4,659
Total minimum lease payments ......................... $89,051 12,859
Less amount representing interest ...................... (3,625)
Present value of net minimum lease payments (of which $1,710
is currently payable) ............................... $ 9,234
Renewal options from three to 25 years exist on the majority of leased properties.
At February 2, 2013, the Company is committed to incur costs of approximately $1 million to
acquire, complete and furnish certain stores and equipment.
At February 2, 2013, letters of credit totaling $52.5 million were issued under the Company’s $1.0
billion revolving credit facility.
Various legal proceedings, in the form of lawsuits and claims, which occur in the normal course of
business, are pending against the Company and its subsidiaries. In the opinion of management,
disposition of these matters is not expected to materially affect the Company’s financial position, cash
flows or results of operations.
13. Asset Impairment and Store Closing Charges
During fiscal 2012, the Company recorded a pretax charge of $1.6 million for asset impairment and
store closing costs. The charge was for the write-down of a property held for sale and of an operating
property, both of which the Company has currently contracted to sell.
During fiscal 2011, the Company recorded a pretax charge of $1.2 million for asset impairment and
store closing costs. The charge was for the write-down of a property held for sale.
During fiscal 2010, the Company recorded a pretax charge of $2.2 million for asset impairment and
store closing costs. The charge was for the write-down of a property held for sale.
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