Dollar Tree 2010 Annual Report Download - page 23

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Management’s Discussion And Analysis
Of Financial Condition And Results Of Operations
Funding Requirements
Overview
We expect our cash needs for opening new stores and expanding existing stores in fi scal 2011 to total approxi-
mately $144.4 million, which includes capital expenditures, initial inventory and pre-opening costs. Our estimated
capital expenditures for fi scal 2011 are between $215.0 and $225.0 million, including planned expenditures for
our new and expanded stores and the addition of freezers and coolers to approximately 225 stores. We believe that
we can adequately fund our working capital requirements and planned capital expenditures for the next few years
from net cash provided by operations and potential borrowings under our existing credit facility.
The following tables summarize our material contractual obligations at January 29, 2011, including both on-
and off-balance sheet arrangements, and our commitments, including interest on long-term borrowings (in millions):
Contractual Obligations Total 2011 2012 2013 2014 2015 Thereafter
Lease Financing
Operating lease obligations $ 1,703.4 $ 415.7 $ 365.5 $ 298.0 $ 234.0 $ 161.9 $ 228.3
Capital lease obligations 1.4 0.9 0.4 0.1 — — —
Long-term Borrowings
Credit Agreement 250.0 — — 250.0 — — —
Revenue bond fi nancing 16.5 16.5———— —
Interest on long-term borrowings 4.0 1.9 1.9 0.2 — — —
Total obligations $ 1,975.3 $ 435.0 $ 367.8 $ 548.3 $ 234.0 $ 161.9 $ 228.3
Commitments Total
Expiring
in 2011
Expiring
in 2012
Expiring
in 2013
Expiring
in 2014
Expiring
in 2015 Thereafter
Letters of credit and surety bonds $ 122.6 $ 122.6 $ — $ — $ — $ — $ —
Freight contracts 288.8 113.0 113.0 46.7 16.1 — —
Technology assets 5.9 5.9 — — — — —
Total commitments $ 417.3 $ 241.5 $ 113.0 $ 46.7 $ 16.1 $ — $ —
DOLLAR TREE, INC. ♦ 2010 Annual Report 21