Supercuts 2011 Annual Report Download - page 71

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Table of Contents
As a result of the repayment of a portion of the senior term notes during the twelve months ended June 30, 2010, the Company incurred
$12.8 million in make-whole payments and other fees along with $5.2 million in interest rate swap settlements, as discussed in Note 9 to the
Consolidated Financial Statements, totaling $18.0 million that was recorded as interest expense within the Consolidated Statement of Operations.
Acquisitions
Acquisitions are discussed throughout Management's Discussion and Analysis in this Item 7, as well as in Note 4 to the Consolidated
Financial Statements in Part II, Item 8 of this Form 10-K. The acquisitions were funded primarily from operating cash flow, debt and the
issuance of common stock.
Contractual Obligations and Commercial Commitments
The following table reflects a summary of obligations and commitments outstanding by payment date as of June 30, 2011:
On-Balance Sheet Obligations
Our long-term obligations are composed primarily of senior term notes, convertible debt and a revolving credit facility. Interest payments
on long-term debt and capital lease obligations were estimated based on each debt obligation's agreed upon rate as of June 30, 2011 and
scheduled contractual repayments.
Other long-term liabilities include a total of $22.6 million related to the Executive Profit Sharing Plan and a salary deferral program,
$7.1 million (including $0.2 million in interest) related to
69
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
$
23,130
$
196,580
$
35,714
$
35,714
$
291,138
Capital lease obligations
9,122
10,711
2,440
—
22,273
Other long
-
term liabilities
4,657
3,546
2,990
18,545
29,738
Total on
-
balance sheet
36,909
210,837
41,144
54,259
343,149
Off
-
balance sheet(a):
Operating lease obligations
312,038
444,678
212,607
95,546
1,064,869
Interest on long
-
term debt and
capital lease obligations
21,946
36,056
10,879
4,554
73,435
Total off
-
balance sheet
333,984
480,734
223,486
100,100
1,138,304
$
370,893
$
691,571
$
264,630
$
154,359
$
1,481,453
(a) 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, 2011, 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 13 to the Consolidated Financial Statements for more
information on our uncertain tax positions.