Neiman Marcus 2009 Annual Report Download - page 45

Table of Contents
The following table summarizes the expiration of our significant commercial commitments outstanding at July 31, 2010:
Amount of Commitment by Expiration Period
(in thousands) Total
Fiscal
Year
2011
Fiscal
Years
2012-2013
Fiscal
Years
2014-2015
Fiscal Year
2016 and
Beyond
Other commercial commitments:
Senior secured asset-based revolving
credit facility (1) $ 600,000 $ — $ 600,000 $ — $ —
Surety bonds 3,200 3,200 — — —
$ 603,200 $ 3,200 $ 600,000 $ — $ —
(1) As of July 31, 2010, we had no borrowings outstanding under our Senior Secured Asset-Based Revolving Credit Facility,
$31.1 million of outstanding letters of credit and $508.9 million of unused borrowing availability. Our working capital requirements
are greatest in the first and second fiscal quarters as a result of higher seasonal requirements. See "Description of Other Indebtedness
—Senior Secured Asset-Based Revolving Credit Facility" and "Management's Discussion and Analysis of Financial Conditions and
Results of Operations—Seasonality."
In addition to the items presented above, our other principal commercial commitments are comprised of common area
maintenance costs, tax and insurance obligations and contingent rent payments.
OTHER MATTERS
Factors That May Affect Future Results
Matters discussed in this Annual Report on Form 10-K include forward-looking statements. Forward-looking statements
generally can be identified by the use of forward-looking terminology such as "may," "plan," "predict," "expect," "estimate," "intend,"
"would," "could," "should," "anticipate," "believe," "project" or "continue." We make these forward-looking statements based on our
expectations and beliefs concerning future events, as well as currently available data. While we believe there is a reasonable basis for
our forward-looking statements, they involve a number of risks and uncertainties. Therefore, these statements are not guarantees of
future performance and you should not place undue reliance on them. A variety of factors could cause our actual results to differ
materially from the anticipated or expected results expressed in our forward-looking statements. Factors that could affect future
performance include, but are not limited, to:
Political and General Economic Conditions
• weakness in domestic and global capital markets and other economic conditions and the impact of such conditions on our
ability to obtain credit;
• current political and general economic conditions or changes in such conditions including relationships between the
United States and the countries from which we source our merchandise;
• terrorist activities in the United States and elsewhere;
• political, social, economic, or other events resulting in the short- or long-term disruption in business at our stores,
distribution centers or offices;
Customer Considerations
• changes in consumer confidence resulting in a reduction of discretionary spending on goods;
• changes in the demographic or retail environment;
• changes in consumer preferences or fashion trends;
• changes in our relationships with customers due to, among other things, 1) our failure to provide quality service and
competitive loyalty programs, 2) our inability to provide credit pursuant to our proprietary credit card
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