Supercuts 2008 Annual Report Download - page 60

Contractual Obligations and Commercial Commitments
The following table reflects a summary of obligations and commitments outstanding by payment date as of June 30, 2008:
(a)
Payments due by period
Contractual Obligations
Within
1 years 1-3 years 3-5 years
More than
5 years Total
(Dollars in thousands)
On
-
balance sheet:
Long
-
term debt obligations
$
217,494
$
128,306
$
212,224
$
171,429
$
729,453
Capital lease obligations
12,730
17,005
5,559
—
35,294
Other long
-
term liabilities
2,356
3,289
2,252
21,711
29,608
Total on
-
balance sheet
232,580
148,600
220,035
193,140
794,355
Off
-
balance sheet(a):
Operating lease obligations
358,603
538,012
289,102
201,577
1,387,294
Interest on long
-
term debt and capital lease obligations
38,644
65,612
34,669
15,735
154,660
Other long
-
term obligations
206
—
—
—
206
Total off
-
balance sheet
397,453
603,624
323,771
217,312
1,542,160
Total(b)
$
630,033
$
752,224
$
543,806
$
410,452
$
2,336,515
In accordance with accounting principles generally accepted in the United States of America, these obligations are not reflected in the
Consolidated Balance Sheet.
(b) As of June 30, 2008, we have liabilities for uncertain tax positions. We are not able to reasonably estimate the amount by which the
liabilities will increase or decrease over time; however, at this time, we do not expect a significant payment related to these obligations
within the next fiscal year. See Note 8 to the Consolidated Financial Statements for more information on our uncertain tax positions, the
amount that may be settled in chase, and the amount reasonably possible to change in the next 12 months.
On-Balance Sheet Obligations
Our long-term obligations are composed primarily of senior term notes and a revolving credit facility. Certain senior term notes are hedged
by contracts with financial institutions commonly referred to as interest rate swaps, as discussed in Part II, Item 7A, "Quantitative and
Qualitative Disclosures about Market Risk." At June 30, 2008, $0.3 million represented a deferred gain related to the termination of certain
interest rate hedge contracts. Additionally, no adjustment was necessary to mark the hedged portion of the debt obligation to fair value (a
reduction to long-term debt). Interest payments on long-
term debt and capital lease obligations were estimated based on our total average interest
rate at June 30, 2008 and scheduled contractual repayments.
Other long-term liabilities include a total of $19.9 million related to the Executive Profit Sharing Plan and a salary deferral program,
$9.7 million (including $0.6 million in interest) related to established contractual payment obligations under retirement and severance payment
agreements for a small number of retired employees.
This table excludes the short-term liabilities, other than the current portion of long-term debt, disclosed on our balance sheet as the amounts
recorded for these items will be paid in the next year. We have no unconditional purchase obligations, as defined by SFAS No. 47, Disclosure of
Long
-Term Obligations . Also excluded from the contractual obligations table are payment estimates associated with
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