Rite Aid 2013 Annual Report Download - page 111

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RITE AID CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
For the Years Ended March 2, 2013, March 3, 2012 and February 26, 2011
(In thousands, except per share amounts)
19. Supplementary Cash Flow Data
Year Ended
March 2, March 3, February 26,
2013 2012 2011
Cash paid for interest (net of capitalized
amounts of $399, $315 and $509) ........ $ 482,145 $ 528,894 $ 464,456
Cash (refund) payments for income taxes, net . $ (776) $ 4,913 $ 4,907
Equipment financed under capital leases .... $ 7,906 $ 7,052 $ 4,622
Equipment received for noncash consideration $ 3,285 $ 3,616 $ 3,476
Preferred stock dividends paid in additional
shares ............................ $ 10,528 $ 9,919 $ 9,346
Non-cash reduction in lease financing
obligation ......................... $ — $ — $ —
Accrued capital expenditures ............. $ 45,456 $ 45,454 $ 37,557
Gross borrowings from revolver ........... $1,117,000 $2,654,000 $1,511,000
Gross repayments to revolver ............. $ 588,000 $2,546,000 $1,563,000
20. Related Party Transactions
There were receivables from related parties of $23 and $77 at March 2, 2013 and March 3, 2012,
respectively.
As of March 2, 2013, the Jean Coutu Group owned 178,401,162 shares (19.0% of the voting power
of the Company) of common stock. On April 17, 2013, the Jean Coutu Group announced that it had
sold 72,500,000 of its 178,401,162 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 accordingly, Michel Coutu resigned from Rite Aid’s board of directors effective
April 17, 2013. At this level of ownership, the Jean Coutu Group (and, subject to certain conditions,
certain members of the Coutu family) have the right to designate one of the nine members of the
Company’s board of directors, subject to adjustment for future reductions in its ownership position in
the Company.
The Company had a financial advisory services agreement with Leonard Green & Partners, L.P. to
pay a monthly fee of $12.5 plus out-of-pocket expenses which was terminated in fiscal 2012. The
Company paid fees of $38 and $163 for financial advisory services and expense reimbursements of $67
and $151, in fiscal 2012 and fiscal 2011, respectively.
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