Dillard's 2012 Annual Report Download - page 35

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Rentals
(in thousands of dollars) Fiscal 2012 Fiscal 2011 Fiscal 2010
Rentals:
Retail operations segment ................ $34,787 $48,058 $50,967
Construction segment ................... 51 52 78
Total rentals ............................ $34,838 $48,110 $51,045
2012 Compared to 2011
Rental expense declined $13.3 million or 27.6% in fiscal 2012 compared to fiscal 2011 primarily
due to a reduction in the amount of equipment leased by the Company.
We believe that rental expense will decline significantly during fiscal 2013, with a current projected
reduction of approximately $8 million from fiscal 2012, primarily as a result of the expiration of certain
equipment leases.
2011 Compared to 2010
Rental expense declined $2.9 million or 5.7% in fiscal 2011 compared to fiscal 2010 primarily due
to a decrease in the amount of equipment leased by the Company.
Interest and Debt Expense, Net
(in thousands of dollars) Fiscal 2012 Fiscal 2011 Fiscal 2010
Interest and debt expense (income), net:
Retail operations segment ................ $69,719 $72,218 $74,009
Construction segment ................... (123) (159) (217)
Total interest and debt expense, net ........... $69,596 $72,059 $73,792
2012 Compared to 2011
Net interest and debt expense declined $2.5 million in fiscal 2012 compared to fiscal 2011 primarily
due to lower average debt levels partially offset by increased credit facility fees as well as an increase of
interest resulting from the 53rd week of fiscal 2012. Total weighted average debt outstanding during
fiscal 2012 decreased approximately $106.6 million compared to fiscal 2011.
2011 Compared to 2010
Net interest and debt expense declined $1.7 million in fiscal 2011 compared to fiscal 2010 primarily
due to matured and repurchased outstanding notes partially offset by increased short-term borrowing
costs. Total weighted average debt outstanding during fiscal 2011 increased approximately $33.3 million
compared to fiscal 2010.
Gain on Litigation Settlement
(in thousands of dollars) Fiscal 2012 Fiscal 2011 Fiscal 2010
Gain on litigation settlement:
Retail operations segment ................ $— $44,460 $—
Construction segment ................... — — —
Total gain on litigation settlement ............ $— $44,460 $—
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