Dollar General 2012 Annual Report Download - page 151

10-K
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
5. Income taxes (Continued)
A reconciliation of the uncertain income tax positions from January 29, 2010 through February 1,
2013 is as follows:
(In thousands) 2012 2011 2010
Beginning balance .......................... $42,018 $26,429 $ 67,636
Increases—tax positions taken in the current year . . . 2,114 125 125
Increases—tax positions taken in prior years ....... 1,144 15,840 —
Decreases—tax positions taken in prior years ...... (22,669) — (36,973)
Statute expirations ......................... (166) (376) (1,570)
Settlements ............................... (204) — (2,789)
Ending balance ............................ $22,237 $42,018 $ 26,429
6. Current and long-term obligations
Current and long-term obligations consist of the following:
February 1, February 3,
(In thousands) 2013 2012
Senior secured term loan facility:
Maturity July 6, 2014 .......................... $1,083,800 $1,963,500
Maturity July 6, 2017 .......................... 879,700 —
ABL Facility, maturity July 6, 2014 and July 6, 2013,
respectively ................................. 286,500 184,700
41⁄8% Senior Notes due July 15, 2017 ................. 500,000 —
117⁄8%/125⁄8% Senior Subordinated Notes due July 15, 2017 — 450,697
Capital lease obligations .......................... 7,733 5,089
Tax increment financing due February 1, 2035 .......... 14,495 14,495
2,772,228 2,618,481
Less: current portion ............................ (892) (590)
Long-term portion .............................. $2,771,336 $2,617,891
As of February 1, 2013 the Company has senior secured credit agreements (the ‘‘Credit Facilities’’)
which provide total financing of $3.16 billion, consisting of a senior secured term loan facility (‘‘Term
Loan Facility’’), and a senior secured asset-based revolving credit facility (‘‘ABL Facility’’).
On March 15, 2012, the ABL Facility was amended and restated. The maturity date was extended
by a year to July 6, 2014 and the total commitment was increased to $1.2 billion (of which up to
$350.0 million is available for letters of credit), subject to borrowing base availability. The Company
capitalized $2.7 million of debt issue costs, and incurred a pretax loss of $1.6 million for the write off
of a portion of existing debt issue costs associated with the amendment, which is reflected in Other
(income) expense in the consolidated statement of income for the year ended February 1, 2013.
On March 30, 2012, the Term Loan Facility was amended and restated. Pursuant to the
amendment, the maturity date for a portion ($879.7 million) of the Term Loan Facility was extended
from July 6, 2014 to July 6, 2017. The applicable margin for borrowings under the Term Loan Facility
72