Baskin Robbins 2011 Annual Report Download - page 119

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(1) The fourth quarter of fiscal year 2011 reflects the results of operations for a 14-week period. All other
quarterly periods reflect the results of operations for 13-week periods.
(2) The third quarter of fiscal year 2011 includes an expense of approximately $14.7 million related to the
termination of the Sponsor management agreement incurred in connection with the completion of the initial
public offering in August 2011 (see note 18).
(3) The fourth quarter of fiscal year 2011 includes an impairment of the investment in the Korea joint venture of
$19.8 million, less a reduction in depreciation and amortization, net of tax, resulting from the impairment of
the underlying intangible and long-lived assets of $1.0 million (see note 6).
(4) During fiscal year 2011, the Company made additional term loan borrowings of $250.0 million and repaid
in full the $625.0 million of senior notes (see note 8). In connection with these additional term loan
borrowings and repayments of senior notes, the Company recorded losses on debt extinguishment and
refinancing transactions of $11.0 million, $5.2 million, and $18.1 million, in the first, second, and third
quarters of fiscal year 2011, respectively.
(5) During fiscal year 2010, all outstanding ABS Notes were repaid in full with proceeds from the term loans
and senior notes, as well as available cash (see note 8). As a result, losses on debt extinguishment of $3.7
million and $58.3 million were recorded in the second and fourth quarters of fiscal year 2010, respectively.
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