Dollar Tree 2013 Annual Report Download - page 60

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plaintiff for an immaterial amount. The Company prevailed at trial in November 2013 with the other plaintiff and is awaiting a
final order and a possible appeal by the plaintiff.
In 2013, a former assistant store manager on behalf of himself and others alleged to be similarly aggrieved filed a
representative PAGA claim under California law currently pending in federal court in California. The suit alleges that the
Company failed to provide uninterrupted meal periods and rest breaks; failed to pay minimum, regular and overtime wages;
failed to maintain accurate time records and wage statements; and failed to pay wages due upon termination of employment.
Discovery has not commenced and no trial date has been set.
In September 2013, district attorneys in California initiated an investigation of whether the Company properly disposed of
certain damaged retail products under Federal and California state environmental law, primarily the Resource Conservation and
Recovery Act. This matter is in early stages of investigation.
The Company will vigorously defend itself in these matters. The Company does not believe that any of these matters will,
individually or in the aggregate, have a material effect on its business or financial condition. The Company cannot give
assurance, however, that one or more of these lawsuits will not have a material effect on its results of operations for the period
in which they are resolved. Based on the information available to the Company, including the amount of time remaining before
trial, the results of discovery and the judgment of internal and external counsel, the Company is unable to express an opinion as
to the outcome of those matters which are not settled and cannot estimate a potential range of loss except as specified above.
When a range is expressed above, the Company is currently unable to determine the probability of loss within that range.
NOTE 5 - LONG-TERM DEBT
Long-term debt at February 1, 2014 and February 2, 2013 consists of the following:
February 1, February 2,
(in millions) 2014 2013
$750.0 million Senior Notes, $ 750.0 $ —
fixed rate interest payable semi-annually, January 15 and July 15
$750.0 million Unsecured Credit Agreement,
interest payable monthly at LIBOR,
plus 0.90%, which was 1.06% at
February 1, 2014, amounts outstanding payable upon
expiration of the facility in February 2017 — 250.0
Demand Revenue Bonds, interest payable monthly
at a variable rate which was 0.19% at
February 1, 2014, principal payable on
demand, maturing June 2018 12.8 14.3
$7.0 million Forgivable Promissory Note, interest payable
beginning in November 2017 at a rate of 1%,
principal payable beginning November 2017 7.0 7.0
Total long-term debt $ 769.8 $ 271.3
Less current portion 12.8 14.3
Long-term debt, excluding current portion $ 757.0 $ 257.0
Maturities of long-term debt are as follows: 2014 - $12.8 million, 2017 - $0.2 million, 2018 - $1.4 million and after 2018 -
$755.4 million
Senior Notes
The Company entered into a Note Purchase Agreement on September 16, 2013 with institutional accredited investors in
which the Company issued and sold $750.0 million of Senior Notes (the "Notes") in an offering exempt from the registration
requirements of the Securities Act of 1933. The Notes consist of three tranches: $300.0 million of 4.03% Senior Notes due
September 16, 2020; $350.0 million of 4.63% Senior Notes due September 16, 2023; and $100.0 million of 4.78% Senior
Notes due September 16, 2025. Interest on the Notes is payable semi-annually on January 15 and July 15 of each year,