Papa Johns 2001 Annual Report Download - page 38

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34
the Kentucky Jobs Development Act in connection with the relocation of the corporate offices. We expect
to earn the remaining $5.9 million of such incentives through 2007.
Contractual obligations and payments as of December 30, 2001 due by year are as follows (in thousands):
Less than After
1 Year 1 - 3 Years 4 - 5 Years 5 Years Total
Contractual Obligations:
Long-term debt 225$ 485$ -$ -$ 710$
Revolving line of credit - 104,600 - - 104,600
Total debt 225 105,085 - - 105,310
Operating leases 20,690 35,217 23,081 24,832 103,820
Total contractual obligations 20,915$ 140,302$ 23,081$ 24,832$ 209,130$
Payments Due by Period
We have certain other commercial commitments where payment is contingent upon the occurrence of
certain events. Such commitments include the following by year (in thousands):
Less than After
1 Year 1 - 3 Years 4 - 5 Years 5 Years Total
Other Commercial Commitments:
Loan commitment -$ 7,600$ -$ -$ 7,600$
Standby letters of credit 7,868 - - - 7,868
Guarantees 2,000 3,000 - - 5,000
Total other commercial commitments 9,868$ 10,600$ -$ -$ 20,468$
Amount of Commitment Expiration Per Period
See “Notes 5, 11 and 12” of “Notes to Consolidated Financial Statements” for additional information
related to contractual and other commitments.
Impact of Inflation
We do not believe inflation has materially affected earnings during the past three years. Substantial
increases in costs, particularly food, labor, benefits, utilities and fuel costs, could have a significant
impact on us.