Rite Aid 2011 Annual Report Download - page 104

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended February 26, 2011, February 27, 2010 and February 28, 2009
(In thousands, except per share amounts)
16. Commitments, Contingencies and Guarantees (Continued)
of February 26, 2011. The obligations are for varying terms dependent upon the respective lease, the
longest of which lasts through February 17, 2024.
In the opinion of management, the ultimate disposition of these guarantees will not have a
material effect on the Company’s results of operations, financial position or cash flows.
17. Supplementary Cash Flow Data
Year Ended
February 26, February 27, February 28,
2011 2010 2009
Cash paid for interest (net of capitalized
amounts of $509, $859 and $1,434) ....... $ 464,456 $ 484,873 $ 462,847
Cash payments for income taxes, net ....... $ 4,907 $ 2,987 $ 5,793
Equipment financed under capital leases .... $ 4,622 $ 185 $ 8,117
Equipment received for noncash consideration $ 3,476 $ 15,603 $ 23,878
Preferred stock dividends paid in additional
shares ............................ $ 9,346 $ 8,807 $ 18,302
Non-cash reduction in lease financing
obligation ......................... $ — $ 25,889 $ 40,221
Accrued capital expenditures ............. $ 37,557 $ 16,846 $ 16,529
Gross borrowings from revolver ........... $1,511,000 $2,746,574 $5,522,000
Gross repayments to revolver ............. $1,563,000 $3,504,574 $5,533,000
18. Related Party Transactions
There were receivables from related parties of $81 and $84 at February 26, 2011 and February 27,
2010, respectively.
In connection with the acquisition of Jean Coutu, USA, the Company entered into a transition
services agreement with the Jean Coutu Group. Under the terms of this agreement, Jean Coutu Group
provided certain information technology, network and support services to the Company. The agreement
expired in September 2008. The Company recorded an expense of $894 for services provided under this
agreement for the year ended February 28, 2009. As of February 26, 2011, the Jean Coutu Group
owned approximately 251,975 shares (27.4% of the voting power of the Company) of common stock.
During fiscal 2011, 2010 and 2009, the Company paid Leonard Green & Partners, L.P., fees of
$314, $222 and $227, for financial advisory services, respectively. These amounts include expense
reimbursements of $151, $72 and $90 for the fiscal years 2011, 2010 and 2009, respectively. Jonathan D.
Sokoloff, director, is an equity owner of Leonard Green & Partners, L.P. The Company has entered
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