Ross 2015 Annual Report Download - page 55

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53
Note C: Stock-Based Compensation
For fiscal 2015, 2014, and 2013, the Company recognized stock-based compensation expense as follows:
($000)
2015
2014
2013
Restricted stock
37,204
34,729
30,921
Performance awards
31,056
16,003
13,812
ESPP
2,677
2,269
2,114
Total
70,937
53,001
46,847
Capitalized stock-based compensation cost was not significant in any year.
No stock options were granted during fiscal 2015, 2014, and 2013. At January 30, 2016, the Company had one active stock-
based compensation plan, which is further described in Note H. The Company recognizes expense for ESPP purchase
rights equal to the value of the 15% discount given on the purchase date.
Total stock-based compensation recognized in the Company's Consolidated Statements of Earnings for fiscal 2015, 2014,
and 2013 is as follows:
Statements of Earnings Classification ($000)
2015
2014
2013
Cost of goods sold
32,922
27,088
24,432
Selling, general and administrative
38,015
25,913
22,415
Total
70,937
53,001
46,847
Note D: Debt
Senior notes. Unsecured senior debt, net of unamortized discounts and debt issuance costs, as of January 30, 2016 and
January 31, 2015 consisted of the following:
($000)
2015
2014
6.38% Series A Senior Notes due 2018
84,906
84,873
6.53% Series B Senior Notes due 2021
64,882
64,861
3.375% Senior Notes due 2024
246,237
245,828
Total
396,025
395,562
In September 2014, the Company issued unsecured 3.375% Senior Notes due September 2024 (the “2024 Notes”) with an
aggregate principal amount of $250 million. Interest on the 2024 Notes is payable semi-annually.
As of January 30, 2016, the Company also had outstanding two other series of unsecured senior notes in the aggregate
principal amount of $150 million, held by various institutional investors. The Series A notes totaling $85 million are due in
December 2018 and bear interest at a rate of 6.38%. The Series B notes totaling $65 million are due in December 2021 and
bear interest at a rate of 6.53%. Borrowings under these senior notes are subject to certain financial covenants, including
interest coverage and other financial ratios. As of January 30, 2016, the Company was in compliance with these covenants.