Lululemon 2011 Annual Report Download - page 66

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Table of Contents
6 ACCRUED LIABILITIES
7 OTHER NON-CURRENT LIABILITIES
8 LONG-TERM DEBT AND CREDIT FACILITIES
In April 2007, the Company executed a credit facility with a lending institution that provided for a CDN$20,000 uncommitted demand
revolving credit facilities to fund the working capital requirements of the Company. Borrowings under the uncommitted credit facilities are made
on a when-and-as-needed basis at the discretion of the Company.
Borrowings under the credit facility can be made either as i) Revolving Loans—Revolving loan borrowings will bear interest at a rate
equal to the Bank’s CDN$ or USD$ annual base rate (defined as zero% plus the lender’s annual prime rate) per annum, ii) Offshore Loans—
Offshore rate loan borrowings will bear interest at a rate equal to a base rate based upon LIBOR for the applicable interest period, plus
1.125 percent per annum, iii) Bankers Acceptances—Bankers acceptance borrowings will bear interest at the bankers acceptance rate plus
1.125 percent per annum and iv) Letters of Credit and Letters of Guarantee—Borrowings drawn down under letters of credit or guarantee issued
by the banks will bear a 1.125 percent per annum fee.
At January 29, 2012, there were no borrowings outstanding under this credit facility. As well, at January 29, 2012, letters of credit totaling
USD$nil and guarantees totaling USD$1,466 had been issued under the facility, which reduced the amount available by a corresponding amount.
9 STOCKHOLDERS’ EQUITY
Authorized share capital
On June 8, 2011 the Company’s stockholders approved a two-for-one stock split (the “Stock Split”) of the Company’s common stock and
an increase in the Company’s authorized common stock from 200,000 shares to 400,000 shares. Shares of the Company’s common stock began
trading on a post-split basis on July 12, 2011 on the Nasdaq Stock Market and July 6, 2011 on the Toronto Stock Exchange. In connection with
the Stock Split, the stockholders also approved a two-for-one split of the Company’s special voting stock and an increase in the Company’s
authorized special voting stock from 30,000 to 60,000. Lulu Canadian Holding, Inc., a wholly-owned subsidiary of the Company, effected a two-
for-one stock split of the exchangeable shares (which are exchangeable for an equal number of shares of the Company’s common stock) in
connection with the Stock Split.
63
January 29,
2012
January 30,
2011
Inventory purchases
$
9,648
$
11,925
Sales tax collected
12,740
4,505
Accrued rent
5,343
2,750
Other
6,804
6,086
$
34,535
$
25,266
January 29,
2012
January 30,
2011
Deferred lease liability
$
15,302
$
13,129
Tenant Inducements
9,712
6,516
$
25,014
$
19,645