Dollar Tree 2012 Annual Report Download - page 41
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Please find page 41 of the 2012 Dollar Tree annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Notes to Consolidated Financial Statements
ebalanceforunrecognizedtaxbenetsat
February2,2013,was$5.6million.etotalamountof
unrecognizedtaxbenetsatFebruary2,2013,that,if
recognized,wouldaecttheeectivetaxratewas$3.7
million(netofthefederaltaxbenet).efollowingisa
reconciliationoftheCompany’stotalgrossunrecognized
taxbenetsfortheyearendedFebruary2,2013:
(in millions)
BalanceatJanuary28,2012 $ 15.5
Additions, based on tax positions
related to current year 2.5
Additions for tax positions of
prior years 2.1
Reductions for tax positions of
prior years (3.1)
Settlements (1.9)
Lapses in statutes of limitations (9.5)
BalanceatFebruary2,2013 $ 5.6
Duringscal2012,theCompanyaccruedpotential
interestof$0.2million,relatedtotheseunrecognizedtax
benets.Nopotentialpenaltieswereaccruedduring2012
relatedtotheunrecognizedtaxbenets.AsofFebruary2,
2013,theCompanyhasrecordedaliabilityforpotential
interestof$0.4million.
It is possible that state tax reserves will be reduced for
audit settlements and statute expirations within the next
12months.Atthispointitisnotpossibletoestimatea
range associated with the resolution of these audits.
NOTE 4—COMMITMENTS AND CONTINGENCIES
Operating Lease Commitments
Future minimum lease payments under noncancelable store and distribution center operating leases are as follows:
(in millions)
2013 $ 493.8
2014 408.8
2015 376.4
2016 293.3
2017 207.6
ereafter 369.2
Total minimum lease payments $ 2,149.1
eabovefutureminimumleasepaymentsincludeamountsforleasesthatweresignedpriortoFebruary2,2013for
storesthatwerenotopenasofFebruary2,2013.
Minimumrentalpaymentsforoperatingleasesdonotincludecontingentrentalsthatmaybepaidundercertain
store leases based on a percentage of sales in excess of stipulated amounts. Future minimum lease payments have not
beenreducedbyexpectedfutureminimumsubleaserentalsof$1.2millionunderoperatingleases.
Minimum and Contingent Rentals
Rentalexpenseforstoreanddistributioncenteroperatingleases(includingpaymentstorelatedparties)includedinthe
accompanying consolidated statements of operations are as follows:
(in millions)
YearEnded
February 2, 2013 January28,2012 January29,2011
Minimumrentals $ 455.5 $ 421.8 $ 381.5
Contingent rentals 2.0 1.8 1.4
2012AnnualReport39