Pep Boys 2011 Annual Report Download - page 97
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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended January 29, 2011, January 30, 2010 and January 31, 2009
NOTE 3—OTHER CURRENT ASSETS
The following are the components of other current assets:
January 28, January 29,
(dollar amounts in thousands) 2012 2011
Reinsurance receivable ............................ $59,280 $57,532
Income taxes receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 1,608
Other......................................... 610 1,672
Total ......................................... $59,979 $60,812
NOTE 4—ACCRUED EXPENSES
The following are the components of accrued expenses:
January 28, January 29,
(dollar amounts in thousands) 2012 2011
Casualty and medical risk insurance ................... $147,806 $146,667
Accrued compensation and related taxes ............... 19,133 31,990
Sales tax payable ................................ 12,254 12,809
Other ......................................... 42,512 44,562
Total ......................................... $221,705 $236,028
NOTE 5—DEBT AND FINANCING ARRANGEMENTS
The following are the components of debt and financing arrangements:
January 28, January 29,
(dollar amounts in thousands) 2012 2011
7.50% Senior Subordinated Notes, due December 2014 ..... $147,565 $147,565
Senior Secured Term Loan, due October 2013 ........... 147,557 148,636
Revolving Credit Agreement, through July 2016 .......... — —
Long-term debt ................................. 295,122 296,201
Current maturities ............................... (1,079) (1,079)
Long-term debt less current maturities ................. $294,043 $295,122
7.50% Senior Subordinated Notes, due December 2014
On December 14, 2004, the Company issued $200.0 million aggregate principal amount of 7.50%
Senior Subordinated Notes (the ‘‘Notes’’) due December 2014. The Company did not repurchase Notes
in fiscal 2011. During fiscal 2010, the Company repurchased Notes in the principal amount of
$10.0 million, resulting in a loss from debt repurchases of $0.2 million.
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