Dillard's 2015 Annual Report Download - page 36

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CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS
To facilitate an understanding of the Company's contractual obligations and commercial commitments, the following data
is provided:
PAYMENTS DUE BY PERIOD
(in thousands of dollars)
Contractual Obligations Total
Less than
1 year 1 - 3 years 3 - 5 years
More than
5 years
Long-term debt. . . . . . . . . . . . . . . . . . . . . . . . . . $ 614,785 $ — $ 248,160 $ — $ 366,625
Interest on long-term debt . . . . . . . . . . . . . . . . . 343,397 44,507 77,944 54,601 166,345
Subordinated debentures . . . . . . . . . . . . . . . . . . 200,000———200,000
Interest on subordinated debentures. . . . . . . . . . 337,726 14,959 30,205 29,918 262,644
Capital lease obligations, including interest . . . 12,149 3,791 5,127 2,505 726
Benefit plan participant payments . . . . . . . . . . . 187,770 4,475 13,347 16,588 153,360
Purchase obligations(1) . . . . . . . . . . . . . . . . . . . 1,270,193 1,270,193 — — —
Operating leases(2) . . . . . . . . . . . . . . . . . . . . . . 54,333 21,269 26,289 5,986 789
Total contractual cash obligations(3)(4) . . . . . . $ 3,020,353 $ 1,359,194 $ 401,072 $ 109,598 $ 1,150,489
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(1) The Company's purchase obligations principally consist of purchase orders for merchandise and store construction
commitments. Amounts committed under open purchase orders for merchandise inventory represent $1,254.1 million
of the purchase obligations, of which a significant portion are cancelable without penalty prior to a date that precedes
the vendor's scheduled shipment date.
(2) The operating leases included in the above table do not include contingent rent based upon sales volume, which
represented approximately 23% of minimum lease obligations in fiscal 2015.
(3) The total liability for unrecognized tax benefits is $3.2 million, including tax, penalty, and interest. The Company is
not able to reasonably estimate the timing of future cash flows and has excluded these liabilities from the table above;
however, at this time, the Company does not expect a significant change in unrecognized tax benefits in the next
twelve months.
(4) The Company is unable to reasonably estimate the timing of future cash flows of workers' compensation and general
liability insurance reserves of $26.9 million and gift card liabilities of $18.7 million and have excluded these from the
table above.
AMOUNT OF COMMITMENT EXPIRATION PER PERIOD
(in thousands of dollars)
Other Commercial Commitments
Total Amounts
Committed Within 1 year 2 - 3 years 4 - 5 years
After
5 years
$1.0 billion line of credit, none outstanding(1) .$—$—$—$—$—
Standby letters of credit . . . . . . . . . . . . . . . . . . . 25,680 22,680 3,000 — —
Import letters of credit . . . . . . . . . . . . . . . . . . . . 119119———
Total commercial commitments. . . . . . . . . . . . . $ 25,799 $ 22,799 $ 3,000 $ — $ —
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(1) At January 30, 2016, letters of credit totaling $25.8 million were issued under the credit agreement.
NEW ACCOUNTING PRONOUNCEMENTS
For information with respect to new accounting pronouncements and the impact of these pronouncements on our
consolidated financial statements, see Note 1 in the "Notes to Consolidated Financial Statements" in Item 8 hereof.