Dick's Sporting Goods 2005 Annual Report Download - page 55

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dick’s sporting goods, inc. 2005 annual report
53
Other Debt – Other debt, exclusive of capital lease obligations, consists of the following as of the end of the fiscal periods:
2005 2004
(Dollars in thousands)
Third-Party:
Note payable, due in monthly installments of approximately
$3, including interest at 4%, through 2020 $752 $793
Related Party:
Note payable to a former principal stockholder, due in monthly
installments of approximately $14, including interest at 12%,
through May 1, 2006 40 190
Total debt 792 983
Less current portion of:
Third-party (44) (41)
Related party (40) (149)
Total Long-Term Debt $ 708 $ 793
Certain of the agreements pertaining to long-term debt contain financial and other restrictive covenants, none of which are
more restrictive than those of the Credit Agreement as discussed herein.
Scheduled principal payments on other long-term debt as of January 28, 2006 are as follows:
Fiscal Year
(In thousands)
2006 $84
2007 46
2008 48
2009 49
2010 52
Thereafter 513
$ 792
Capital Lease Obligations – The Company leases two buildings from the estate of a former stockholder, who is related to
current stockholders of the Company, under a capital lease entered into May 1, 1986 which expires in April 2021. In addition,
the Company has a capital lease for a store location with a fixed interest rate of 10.6% that matures in 2024. The gross and net
carrying values of assets under capital leases are approximately $8.2 million and $4.6 million, respectively as of January 28, 2006
and $9.0 million and $5.3 million, respectively as of January 29, 2005.