Dollar Tree 2011 Annual Report Download - page 23

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Funding Requirements
Overview, Including Off-Balance Sheet Arrangements
We expect our cash needs for opening new stores and expanding existing stores in fiscal 2012 to total approximately
$205.9 million, which includes capital expenditures, initial inventory and pre-opening costs.
Our estimated capital expenditures for fiscal 2012 are between $330.0 and $340.0 million, including planned expendi-
tures for our new and expanded stores, the addition of freezers and coolers to approximately 325 stores and approximately
$80.0 million to construct a new distribution center in the Northeast United States. 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 opera-
tions and potential borrowings under our existing credit facility.
e following tables summarize our material contractual obligations at January 28, 2012, including both on- and
off-balance sheet arrangements, and our commitments, including interest on long-term borrowings (in millions):
Contractual Obligations Total 2012 2013 2014 2015 2016 Thereafter
Lease Financing
Operating lease obligations $ 1,929.0 $ 452.9 $ 401.1 $ 337.5 $ 264.4 $ 182.1 $ 291.0
Capital lease obligations 0.3 0.3 — ——— —
Long-term Borrowings
Credit Agreement 250.0 — 250.0——— —
Revenue bond financing 15.5 15.5———— —
Interest on long-term borrowings 2.1 1.9 0.2——— —
Total obligations $ 2,196.9 $ 470.6 $ 651.3 $ 337.5 $ 264.4 $ 182.1 $ 291.0
Commitments
Total
Expiring
in 2012
Expiring
in 2013
Expiring
in 2014
Expiring
in 2015
Expiring
in 2016
Thereafter
Letters of credit and surety bonds $ 170.7 $ 170.7 $ — $ — $ — $ — $ —
Freight contracts 222.3 143.3 58.6 20.4 — — —
Technology assets 8.9 8.9 — — — — —
Telecom contracts 3.3 — — 3.3 — — —
Total commitments $ 405.2 $ 322.9 $ 58.6 $ 23.7 $ — $ — $ —
2011 Annual Report 21