CompUSA 2015 Annual Report Download - page 38
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Please find page 38 of the 2015 CompUSA annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Table of Contents
Followingisasummaryofourcontractualobligationsforfutureprincipalpaymentsonourdebt,minimumrentalpaymentsonournon-cancelableoperatingleases
andminimumpaymentsonourotherpurchaseobligationsasofDecember31,2015(inmillions):
Total
Less than
1 year 1-3 years 3-5 years
More than
5 years
Contractual Obligations:
Capitalleaseobligations $ 1.0 0.6 0.4 - -
Non-cancelableoperatingleases,netofsubleases 170.3 23.0 63.0 35.6 48.7
Purchase&otherobligations 57.8 42.7 7.6 7.5 -
Totalcontractualobligations $ 229.1 66.3 71.0 43.1 48.7
Ourpurchaseandotherobligationsconsistprimarilyofproductpurchasecommitments,certainemploymentagreementsandserviceagreements.
Inadditiontothecontractualobligationsnotedabove,wehad$4.9millionofstandbylettersofcreditoutstandingasofDecember2015.
We are party to certain litigation, the outcome of which we believe, based on discussions with legal counsel, will not have a material adverse effect on our
consolidatedfinancialstatements.
Taxcontingenciesarerelatedtouncertaintaxpositionstakenonincometaxreturnsthatmayresultinadditionaltax,interestandpenaltiesbeingpaidtotaxing
authorities.AsofDecember31,2015,theCompanyhadnomaterialuncertaintaxpositions.
Off-Balance Sheet Arrangements
We have not created, and are not party to, any special-purpose or off-balance sheet entities for the purpose of raising capital, incurring debt or operating our
business. We do not have any arrangements or relationships with entities that are not consolidated into the financial statements that are reasonably likely to
materiallyaffectourliquidityortheavailabilityofcapitalresources.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Weareexposedtomarketrisks,whichincludechangesinU.S.andinternationalinterestratesaswellaschangesincurrencyexchangerates(principallyBritish
PoundsSterling,EuropeanUnionEurosandCanadianDollars)asmeasuredagainsttheU.S.Dollarandeachother.
Thetranslationofthefinancialstatementsofouroperationslocated outsideoftheUnitedStatesisimpactedbymovementsinforeigncurrencyexchangerates.
Changesin currency exchangeratesasmeasuredagainsttheU.S. dollar maypositivelyornegativelyaffectincomestatement, balance sheet and cashflowsas
expressedinU.S.dollars.Saleswouldhavefluctuatedbyapproximately$134.5millionandpretaxlosswouldhavefluctuatedbyapproximately$3.4millionif
average foreign exchange rates changed by 10% in 2015. We have limited involvement with derivative financial instruments and do not use them for trading
purposes.Wemayenterintoforeigncurrencyoptionsorforwardexchangecontractsaimedatlimitinginparttheimpactofcertaincurrencyfluctuations,butasof
December31,2015wehadnooutstandingforwardexchangecontracts.
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