Rite Aid 2012 Annual Report Download - page 112

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 3, 2012, February 26, 2011 and February 27, 2010
(In thousands, except per share amounts)
17. Supplementary Cash Flow Data
Year Ended
March 3, February 26, February 27,
2012 2011 2010
Cash paid for interest (net of capitalized
amounts of $315, $509 and $859) ........ $ 528,894 $ 464,456 $ 484,873
Cash payments for income taxes, net ....... $ 4,913 $ 4,907 $ 2,987
Equipment financed under capital leases .... $ 7,052 $ 4,622 $ 185
Equipment received for noncash consideration $ 3,616 $ 3,476 $ 15,603
Preferred stock dividends paid in additional
shares ............................ $ 9,919 $ 9,346 $ 8,807
Non-cash reduction in lease financing
obligation ......................... $ — $ — $ 25,889
Accrued capital expenditures ............. $ 45,454 $ 37,557 $ 16,846
Gross borrowings from revolver ........... $2,654,000 $1,511,000 $2,746,574
Gross repayments to revolver ............. $2,546,000 $1,563,000 $3,504,574
18. Related Party Transactions
There were receivables from related parties of $77 and $81 at March 3, 2012 and February 26,
2011, respectively.
As of March 3, 2012, the Jean Coutu Group owned 234,401,162 shares (25.2% of the voting power
of the Company) of common stock. On April 20, 2012, the Jean Coutu Group announced that it had
disposed of 56,000,000 of its 234,401,162 shares of Rite Aid’s common stock. As a result of such sale,
the Jean Coutu Group was required to cause one of its designees to immediately resign from Rite
Aid’s board of directors and Andre Belzile resigned from Rite Aid’s board of directors effective
April 23, 2012. Following Mr. Belzile’s resignation and reduction of the size of Rite Aid’s board of
directors from eleven to ten members, the Jean Coutu Group will continue to have the right to
designate two members of Rite Aid’s board of directors, subject to adjustment for future reductions in
its ownership position in the Company. In addition, upon such sale, certain rights of Jean Coutu Group
to maintain their ownership percentage in Rite Aid and the requirement that two-thirds of Rite Aid’s
board of directors approve certain transactions terminated.
During fiscal 2012, 2011 and 2010, the Company paid Leonard Green & Partners, L.P., fees of $38,
$163 and $150 for financial advisory services and expense reimbursements of $67, $151 and $72,
respectively.
Jonathan D. Sokoloff is an equity owner of Leonard Green & Partners, L.P. The Company has
entered into a month-to-month agreement with Leonard Green & Partners, L.P., as amended whereby
the Company has agreed to pay Leonard Green & Partners, L.P., a monthly fee of $12.5, paid in
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