Ingram Micro 2011 Annual Report Download - page 50

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these programs is dependent on the amount of trade accounts receivable already sold to and held by the financial
institutions, the level of our trade accounts receivable eligible to be sold into these programs and the financial
institutions’ willingness to purchase such receivables. At December 31, 2011 and January 1, 2011, we had a total
of $165,744 and $112,484, respectively, of trade accounts receivable sold to and held by the financial institutions
under these programs.
Contractual Obligations and Off-Balance Sheet Arrangements
The following table summarizes our financing capacity and contractual obligations at December 31, 2011,
and the effects that scheduled payments on such obligations are expected to have on our liquidity and cash flows
in future periods. The amounts do not include interest. Except for interest related to our $300,000 of 5.25%
senior unsecured notes, all other interest is incurred at variable rates (see Note 6 to our consolidated financial
statements).
Payments Due by Period
After
5 YearsContractual Obligations
Total
Capacity
Balance
Outstanding
Less Than
1 Year 1 — 3 Years 3 — 5 Years
Senior unsecured notes ........... $ 300,000 $300,000 $ — $ — $ — $300,000
North American revolving trade
accounts receivable-backed
financing program(1) .......... 500,000 — — — — —
EMEA revolving trade accounts
receivable-backed financing
programs(1) ................. 339,000 — — — — —
Asia-Pacific revolving trade
accounts receivable-backed
financing program(1) .......... 164,000 — — — — —
Revolving senior unsecured credit
facilities(2) .................. 750,000 — — — — —
Lines of credit and other(2) ....... 654,000 92,428 92,428 — — —
Subtotal ....................... 2,707,000 392,428 92,428 — — 300,000
Minimum payments under:
Operating leases(3) .............. 327,868 327,868 75,029 113,395 58,240 81,204
IT and business process outsourcing
agreements(4) ................ 4,448 4,448 4,448 — — —
Liability for unrecognized tax
benefits(5) ................... 15,099 15,099 15,099 — — —
Total ......................... $3,054,415 $739,843 $187,004 $113,395 $58,240 $381,204
(1) The aggregate capacity amount of $1,003,000 in the table above represents the maximum capacity available
under these facilities. Our actual capacity is dependent upon the actual amount of eligible trade accounts
receivable that may be used to support these facilities. As of December 31, 2011, our actual aggregate
capacity under these programs based on eligible trade accounts receivable was approximately $977,000.
(2) The capacity amount in the table above represents the maximum capacity available under these facilities.
Certain of these facilities can also be used to support letters of credit. At December 31, 2011, letters of
credit totaling $36,105 were issued to certain vendors to support payment of insurance claims or the
performance by our subsidiaries with respect to certain lease agreements, vendor purchase obligations, or
other operating liabilities. The issuance of these letters of credit also reduces our available capacity under
the respective facilities by the same amount.
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