Supercuts 2012 Annual Report Download - page 71
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Table of Contents
Other Notes Payable
The Company had $0.3 and $1.3 million in unsecured outstanding notes at June 30, 2012 and 2011, respectively, related to debt assumed
in acquisitions.
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, 2012:
On-Balance Sheet Obligations
Our long-term obligations are composed primarily of senior term notes and convertible debt. There were no outstanding borrowings under
our revolving credit facility at June 30, 2012. 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, 2012 and scheduled contractual repayments.
Other long-term liabilities include a total of $21.2 million related to the Executive Profit Sharing Plan and a salary deferral program,
$6.8 million (including $0.2 million in interest) related to established contractual payment obligations under retirement and severance payment
agreements for a small number of retired employees.
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
$
22,474
$
196,848
$
35,715
$
17,857
$
272,894
Capital lease obligations
6,463
8,315
2
—
14,780
Other long
-
term liabilities
5,883
4,711
3,206
14,161
27,961
Total on
-
balance sheet
34,820
209,874
38,923
32,018
315,635
Off
-
balance sheet(a):
Operating lease obligations
306,468
433,978
200,432
85,627
1,026,505
Interest on long-term debt and
capital lease obligations
18,772
22,758
7,589
1,518
50,637
Total off
-
balance sheet
325,240
456,736
208,021
87,145
1,077,142
Total(b)
$
360,060
$
666,610
$
246,944
$
119,163
$
1,392,777
(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, 2012, 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 12 to the Consolidated Financial Statements for more
information on our uncertain tax positions.