WeightWatchers 2011 Annual Report Download - page 99

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Revolver II which terminates on June 30, 2014 (or 2013, upon the occurrence of certain events described in the
WWI Credit Facility agreement), including a proportionate amount of their outstanding Revolver I loans into
Revolver II loans. Following these conversions of a total of $1,029,002 of loans and commitments, at April 8,
2010, the Company had the same amount of debt outstanding under the WWI Credit Facility and amount of
availability under the Revolver as it had immediately prior to such conversions. In connection with this loan
modification offer, the Company incurred fees of $11,483 during the second quarter of fiscal 2010.
See Note 19 for discussion regarding the February 2012 financing related to the pending tender offer and the
pending share repurchase.
Maturities
At December 31, 2011, the aggregate amounts of the Company’s existing long-term debt maturing in each
of the next five years are as follows:
2012 ........................................................... $ 124,933
2013 ........................................................... 79,103
2014 ........................................................... 264,555
2015 ........................................................... 354,037
2016 ........................................................... 229,173
$1,051,801
7. Treasury Stock
On October 9, 2003, the Company’s Board of Directors authorized, and the Company announced, a program
to repurchase up to $250,000 of the Company’s outstanding common stock. On each of June 13, 2005, May 25,
2006 and October 21, 2010, the Company’s Board of Directors authorized, and the Company announced, adding
$250,000 to this program. The repurchase program allows for shares to be purchased from time to time in the
open market or through privately negotiated transactions. No shares will be purchased from Artal Holdings and
its parents and subsidiaries under the program. The repurchase program currently has no expiration date.
During the fiscal years ended December 31, 2011 and January 1, 2011, the Company purchased 813 and
3,739 shares of its common stock, respectively, in the open market under the repurchase program for a total cost
of $31,550 and $109,990, respectively. During the fiscal year ended January 2, 2010, the Company did not
purchase any shares of its common stock.
See Note 19 for discussion regarding the pending tender offer and the pending share repurchase.
8. Earnings Per Share
Basic earnings per share (“EPS”) are calculated utilizing the weighted average number of common shares
outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of
common shares outstanding during the periods presented adjusted for the effect of dilutive common stock
equivalents.
F-15