Saks Fifth Avenue 2009 Annual Report Download - page 82

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Table of Contents
SAKS INCORPORATED & SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)
MATURITIES
At January 30, 2010, maturities of long-term debt and capital lease obligations for the next five years and thereafter are as follows:
Year Maturities
2010 $ 27,857
2011 146,837
2012 5,308
2013 128,746
2014 6,162
Thereafter 260,761
Subtotal 575,671
Unamortized discount at January 30, 2010 (54,484)
Total $ 521,187
The Company made interest payments of $36,388, $31,741, and $34,982, of which $758, $1,308, and $1,830 was capitalized into property and equipment
during 2009, 2008, and 2007, respectively.
NOTE 7 — COMMITMENTS AND CONTINGENCIES
OPERATING LEASES AND OTHER PURCHASE COMMITMENTS
The Company leases certain property and equipment under various non-cancelable capital and operating leases. The leases provide for monthly fixed
amount rentals or contingent rentals based upon sales in excess of stated amounts and normally require the Company to pay real estate taxes, insurance, common
area maintenance costs and other occupancy costs. Generally, the leases have primary terms ranging from 20 to 30 years and include renewal options ranging
from 5 to 20 years.
At January 30, 2010, future minimum rental commitments under capital leases and non-cancelable operating leases consisted of the following:
Operating
Leases
Capital
Leases
2010 $ 67,530 $ 11,454
2011 64,004 11,235
2012 53,331 10,771
2013 46,890 10,746
2014 39,856 10,479
Thereafter 176,096 44,428
$ 447,707 99,113
Amounts representing interest (42,703)
Capital lease obligations $ 56,410
F-26
Source: SAKS INC, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠