GameStop 2007 Annual Report Download - page 90

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premium paid to retire the Senior Notes and the write-off of the deferred financing fees and the original issue
discount on the Senior Notes.
In October 2004, Historical GameStop issued a promissory note in favor of Barnes & Noble in the principal
amount of $74,020 in connection with the repurchase of Historical GameStop’s common stock held by Barnes &
Noble. The note was unsecured and bore interest at 5.5% per annum, payable with each principal installment.
Scheduled principal payments of $37,500, $12,173 and $12,173 were made in January 2005, October 2005 and
October 2006, respectively, as required by the promissory note. The final payment of $12,173, satisfying the
promissory note in full, was made in October 2007.
Maturities on debt, gross of the unamortized original issue discount of $5,527 on the Senior Notes, are as
follows:
Year Ended Amount
(In thousands)
January 2009 ....................................................... $ —
January 2010 ....................................................... —
January 2011 ....................................................... —
January 2012 ....................................................... —
January 2013 ....................................................... 580,000
Thereafter ......................................................... —
$580,000
9. Comprehensive Income
Comprehensive income is net earnings, plus certain other items that are recorded directly to stockholders’
equity and consisted of the following:
52 Weeks
Ended
February 2,
2008
53 Weeks
Ended
February 3,
2007
52 Weeks
Ended
January 28,
2006
(In thousands)
Net earnings ..................................... $288,291 $158,250 $100,784
Other comprehensive income:
Foreign currency translation adjustments ................ 28,376 2,341 319
Total comprehensive income ......................... $316,667 $160,591 $101,103
10. Leases
The Company leases retail stores, warehouse facilities, office space and equipment. These are generally leased
under noncancelable agreements that expire at various dates through 2034 with various renewal options for
additional periods. The agreements, which have been classified as operating leases, generally provide for minimum
and, in some cases, percentage rentals and require the Company to pay all insurance, taxes and other maintenance
costs. Leases with step rent provisions, escalation clauses or other lease concessions are accounted for on a straight-
line basis over the lease term, which includes renewal option periods when the Company is reasonably assured of
exercising the renewal options and includes “rent holidays” (periods in which the Company is not obligated to pay
rent). The Company does not have leases with capital improvement funding. Percentage rentals are based on sales
performance in excess of specified minimums at various stores.
F-23
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)