Dillard's 2013 Annual Report Download - page 33

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27
fiscal 2012. Total weighted average debt outstanding during fiscal 2012 decreased approximately $106.6 million compared to
fiscal 2011.
Gain on Litigation Settlement
(in thousands of dollars) Fiscal 2013 Fiscal 2012 Fiscal 2011
Gain on litigation settlement:
Retail operations segment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $—$—$
(44,460)
Construction segment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ———
Total gain on litigation settlement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $—$—$
(44,460)
The Company reached an agreement effective November 30, 2011 with i2 Technologies, Inc. ("i2"), a subsidiary of JDA
Software Group, Inc. ("JDA"), to settle a lawsuit filed by Dillard's against i2 over software sold to Dillard's by i2 in 2000, prior
to JDA's acquisition of i2 in 2010. Pursuant to the agreement, i2 paid Dillard's $57.0 million during fiscal 2011. After providing
for settlement related expenses, the Company recorded $44.5 million in gain on litigation settlement.
Gain on Disposal of Assets
(in thousands of dollars) Fiscal 2013 Fiscal 2012 Fiscal 2011
(Gain) loss on disposal of assets:
Retail operations segment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(12,376)$ (12,434)$ (4,019)
Construction segment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (3)(1)64
Total gain on disposal of assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(12,379)$ (12,435)$ (3,955)
Fiscal 2013
During fiscal 2013, the Company received proceeds of $15.7 million from the sale of its investment in Acumen Brands
("Acumen"), an eCommerce company based in Fayetteville, Arkansas. The sale resulted in a gain of $11.7 million that was
recorded in gain on disposal of assets.
During fiscal 2013, the Company also received proceeds of $1.7 million from the sale of two former retail stores located
in Oklahoma City, Oklahoma and Pasadena, Texas that were held for sale, resulting in a gain of $0.6 million that was recorded
in gain on disposal of assets.
Fiscal 2012
During fiscal 2012, the Company sold five former retail stores and one building that was a portion of a currently
operating retail location. Four of the former retail stores were held for sale and were located in Charlotte, North Carolina;
Cincinnati, Ohio; Antioch, Tennessee and Dallas, Texas. The other former retail store was located in Colonial Heights, Virginia
and was closed during the year. The Company received proceeds of $25.1 million relative to these sales which resulted in a net
gain of $12.3 million. The gain was recorded in gain on disposal of assets.
Fiscal 2011
During fiscal 2011, the Company received proceeds of $10.3 million from the sale of two former retail store locations
located in West Palm Beach, Florida and Las Vegas, Nevada, resulting in gains totaling $1.3 million. Additionally, the
Company received proceeds of $11.0 million from the sale of an interest in a mall joint venture, resulting in a gain of
$2.1 million.