Dollar Tree 2012 Annual Report Download - page 22

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Management’s Discussion & Analysis of
Financial Condition and Results of Operations
Funding Requirements
Overview, Including Off-Balance Sheet Arrangements
Weexpectourcashneedsforopeningnewstoresandexpandingexistingstoresinscal2013tototalapproximately
$200.6million,whichincludescapitalexpenditures,initialinventoryandpre-openingcosts.
Ourestimatedcapitalexpendituresforscal2013arebetween$320.0and$330.0million,includingplannedexpendi-
turesforournewandexpandedstores,theadditionoffreezersandcoolerstoapproximately475storesandapproximately
$61.2milliontoexpandourdistributioncenterinMarietta,Oklahomaandcompleteconstructiononanewdistribution
centerinWindsor,Connecticut.Webelievethatwecanadequatelyfundourworkingcapitalrequirementsandplanned
capital expenditures for the next few years from net cash provided by operations and potential borrowings under our existing
credit facility.
efollowingtablessummarizeourmaterialcontractualobligationsatFebruary2,2013,includingbothon-and
o-balancesheetarrangements,andourcommitments,includinginterestonlong-termborrowings(inmillions):
Contractual Obligations Total 2013 2014 2015 2016 2017 Thereafter
Lease Financing
Operating lease obligations $ 2,149.1 $ 493.8  $408.8 $ 376.4 $ 293.3  $ 207.6 $ 369.2
Long-term Borrowings
Credit agreement 250.0 ———— 250.0 —
Demand revenue bonds 14.3 14.3 ———— —
Forgivable promissory note 7.0 ———— 0.2 6.8
Interest on long-term borrowings 12.6 2.8 2.8 2.8 2.8 0.9 0.5
Total obligations $ 2,433.0 $ 510.9  $ 411.6  $ 379.2 $ 296.1 $ 458.7  $ 376.5
Commitments
Total
Expiring
in 2013
Expiring
in 2014
Expiring
in 2015
Expiring
in 2016
Expiring
in 2017
Thereafter
Letters of credit and surety bonds $ 177.5$ 177.5$ —$ —$ —$ — $ —
Technology assets 10.8 10.8 — — — — —
Telecommunication contract 26.9 7.5 7.2 5.5 5.2 1.5 —
Total commitments $ 215.2 $ 195.8 $ 7.2 $ 5.5 $ 5.2 $ 1.5 $ —
20 Dollar Tree, Inc.