Pep Boys 2006 Annual Report Download - page 86

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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended February 3, 2007, January 28, 2006 and January 29, 2005
(dollar amounts in thousands, except share data)
47
The annual maturities of all long-term debt and capital lease commitments for the next five fiscal
years are:
Long-Term Capital
Year Debt Leases Total
2007.......................................... $ 3,201 $289 $ 3,490
2008.......................................... 3,241 239 3,480
2009.......................................... 20,787 157 20,944
2010.......................................... 3,229 — 3,229
2011.......................................... 3,227 — 3,227
Thereafter..................................... 504,151 — 504,151
Total.......................................... $537,836 $685 $538,521
The Company has letter of credit arrangements in connection with its risk management, import
merchandising and vendor financing programs. The Company was contingently liable for $487 and $1,015
in outstanding import letters of credit and $55,708 and $41,218 in outstanding standby letters of credit as of
February 3, 2007 and January 28, 2006 respectively. The Company was also contingently liable for surety
bonds in the amount of approximately $11,224 and $13,021 at February 3, 2007 and January 28, 2006,
respectively.
NOTE 3—ACCRUED EXPENSES
The Company’s accrued expenses as of February 3, 2007 and January 28, 2006, were as follows:
February 3,
2007
January 28,
2006
Casualty and medical risk insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $173,826 $178,498
Accruedcompensationandrelatedtaxes ........................ 44,317 44,565
Salestaxpayable ............................................. 11,286 11,597
Other....................................................... 62,851 56,101
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $292,280 $290,761
NOTE 4—OTHER CURRENT ASSETS
The Company’s other current assets as of February 3, 2007 and January 28, 2006, were as follows:
February 3,
2007
January 28,
2006
Reinsurancepremiumsandreceivable ............................ $69,239 $82,629
Income taxes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 2,694
Other......................................................... 1,129 123
Total.......................................................... $70,368 $85,446
NOTE 5—LEASE AND OTHER COMMITMENTS
On October 18, 2004, the Company entered into a Master Lease agreement providing for the lease of
up to $35,000 of new point-of-sale hardware for the Company’s stores at an interest rate of LIBOR plus