Ross 2014 Annual Report Download - page 34

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Senior notes. In September 2014, we issued unsecured 2024 Notes with an aggregate principal amount of $250 million.
The 2024 Notes were issued at a price equal to 99.329% of the principal amount. Interest on the 2024 Notes is payable semi-
annually beginning March 2015.
As of January 31, 2015, we also had outstanding two series of unsecured senior notes in the aggregate principal amount of
$150 million, held by various institutional investors. The Series A notes totaling $85 million are due in December 2018 and bear
interest at a rate of 6.38%. The Series B notes totaling $65 million are due in December 2021 and bear interest at a rate of
6.53%. Borrowings under these senior notes are subject to certain financial covenants, including interest coverage and other
financial ratios. As of January 31, 2015, we were in compliance with those covenants.
The 2024 Notes, Series A, and Series B senior notes are all subject to prepayment penalties for early payment of principal.
Off-Balance Sheet Arrangements
Operating leases. We currently lease all but three of our store locations, three warehouse facilities, and a buying office.
In addition, we have a ground lease related to our New York buying office. Except for certain leasehold improvements and
equipment, these leased locations do not represent long-term capital investments.
Two of the warehouses are in Carlisle, Pennsylvania with leases expiring in 2016 and 2017. The third warehouse is in
Fort Mill, South Carolina, with a lease expiring in 2019. The leases for the two Carlisle, Pennsylvania warehouses contain
renewal provisions.
We currently lease approximately 68,000 square feet of office space for our Los Angeles buying office. The lease term for this
facility expires in 2017 and contains renewal provisions.
Purchase obligations. As of January 31, 2015 we had purchase obligations of approximately $1,953 million. These purchase
obligations primarily consist of merchandise inventory purchase orders, commitments related to construction projects, store
fixtures and supplies, and information technology service, transportation, and maintenance contracts.
Commercial Credit Facilities
The table below presents our significant available commercial credit facilities at January 31, 2015:
Amount of Commitment Expiration Per Period
Less than 1 – 3 3 – 5 After 5 Total amount
($000) 1 year years years years committed
Revolving credit facility $ — $ 600,000 $ — $ — $ 600,000
Total commercial commitments $ — $ 600,000 $ — $ — $ 600,000
For additional information relating to this credit facility, refer to Note D of Notes to Consolidated Financial Statements.
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