Creative 2008 Annual Report Download - page 16

Download and view the complete annual report

Please find page 16 of the 2008 Creative 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.

Page out of 48

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48

16
MANAGEMENT’S฀DISCUSSION฀AND฀ANALYSIS฀OF฀
FINANCIAL฀CONDITION฀AND฀RESULTS฀OF฀OPERATIONS
CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
The following table presents the contractual obligations and commercial commitments of Creative as of June 30, 2008:
฀ ฀ ฀Payments฀Due฀by฀Period฀(US$’000)
฀ ฀ Less฀than฀ 1฀to฀3฀ 4฀to฀5฀ After฀5
Contractual฀Obligations฀ Total฀ ฀ 1฀year฀ years฀ years฀ years
Long฀Term฀Debt฀ $฀ 100,000฀ $฀ 100,000฀ $฀ –฀ $฀ –฀ $฀ –
Capital฀Lease฀Obligations฀ ฀ 29฀ ฀ 19฀ ฀ 10฀ ฀ –฀ ฀ –
Operating฀Leases฀ ฀ 23,839฀ ฀ 6,875฀ ฀ 9,878฀ ฀ 5,048฀ ฀ 2,038
Unconditional฀Purchase฀Obligations฀ ฀ 35,174฀ ฀ 35,174฀ ฀ –฀ ฀ –฀ ฀ –
Total฀Contractual฀Cash฀Obligations
฀ $฀ 159,042฀ $฀ 142,068฀ $฀ 9,888฀ $฀ 5,048฀ $฀ 2,038
฀ ฀ ฀ ฀ ฀
Unconditional purchase obligations are defined as contractual obligations for the purchase of goods or services which are
enforceable and legally binding on the company and that specify all significant terms, including fixed or minimum quantities
to be purchased, fixed, minimum or variable price provisions and the approximate timing of the transaction. The expected
timing of payment of the obligations set forth above is estimated based on current information. Timing of payments and
actual amounts paid may be different depending on the time of receipt of goods or services or changes to agreed-upon
amounts for some obligations.
As of June 30, 2008, Creative has utilized approximately $2.9 million under guarantees and letters of credit.
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS
Please refer to Note 1 of “Notes to Consolidated Financial Statements” for the discussion of recently issued accounting
pronouncements.