Neiman Marcus 2013 Annual Report Download - page 50

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Plan at or above the minimum amount required by law. We made no voluntary contributions to our Pension Plan in fiscal year 2014 and made
voluntary contributions of $25.0 million in fiscal year 2013. As of August 2, 2014, we do not believe we will be required to make contributions to
the Pension Plan for fiscal year 2015.
(4) Included in other long-term liabilities at August 2, 2014 are our liabilities for our SERP and Postretirement Plans aggregating $118.1 million. Our
scheduled obligations with respect to our SERP Plan and Postretirement Plan liabilities consist of expected benefit payments through 2024, as
currently estimated using information provided by our actuaries. Also included in other long-term liabilities at August 2, 2014 are our liabilities
related to 1) uncertain tax positions (including related accruals for interest and penalties) of $7.6 million and 2) other obligations aggregating $31.8
million, primarily for employee benefits. Future cash obligations related to these liabilities are not currently estimable.
(5) Construction commitments relate primarily to obligations pursuant to contracts for the construction of new stores and the renovation of existing
stores expected as of August 2, 2014. These amounts represent the gross construction costs and exclude developer contributions of approximately
$97.5 million, which we expect to receive pursuant to the terms of the construction contracts.
In the normal course of our business, we issue purchase orders to vendors/suppliers for merchandise. Our purchase orders are not unconditional
commitments but, rather represent executory contracts requiring performance by the vendors/suppliers, including the delivery of the merchandise
prior to a specified cancellation date and the compliance with product specifications, quality standards and other requirements. In the event of the
vendor’s failure to meet the agreed upon terms and conditions, we may cancel the order.
The following table summarizes the expiration of our other significant commercial commitments outstanding at August 2, 2014:
















Other commercial commitments:
Asset-Based Revolving Credit Facility (1)
$ 800,000
$ —
$ —
$ 800,000
$ —
Surety bonds
4,739
4,573
166
—
—
$ 804,739
$ 4,573
$ 166
$ 800,000
$ —
(1) As of August 2, 2014, we had no borrowings outstanding under our Asset-Based Revolving Credit Facility, no outstanding letters of credit and
$720.0 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 “—Financing Structure at August 2, 2014—Asset-Based Revolving Credit Facility” and “Management’s
Discussion and Analysis of Financial Condition 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.

We had no off-balance sheet arrangements, other than operating leases entered into in the normal course of business, during fiscal year 2014. See
Note 15 of the Notes to Consolidated Financial Statements in Item 15 for more information about our operating leases.
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