Sprouts Farmers Market 2015 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2015 Sprouts Farmers Market annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

77
10. Accrued Salaries and Benefits
A summary of accrued salaries and benefits is as follows:
As Of
January 3,
2016
December 28,
2014
A
ccrued payroll ....................................................
.
$10,988 $9,196
Bonuses ...............................................................
.
9,728 12,138
Vacation ...............................................................
.
8,916 7,476
Other ....................................................................
.
1,085 877
Total .....................................................................
.
$30,717 $29,687
11. Other Accrued Liabilities
A summary of other accrued liabilities is as follows:
As Of
January 3,
2016
December 28,
2014
Workers’ compensation / general liability
reserves ............................................................
.
$11,295 $9,308
Gift cards..............................................................
.
10,616 9,836
Sales and use tax liabilities..................................
.
7,038 6,345
Medical insurance claim reserves........................
.
6,064 5,008
Unamortized lease incentives..............................
.
5,190 3,407
A
ccrued occupancy related (CAM, property
taxes, etc.) ........................................................
.
4,689 3,119
Closed store reserves..........................................
.
894 433
Interest .................................................................
.
668 1,143
Other ....................................................................
.
3,799 2,795
Total .....................................................................
.
$50,253 $41,394
12. Long-Term Debt
A summary of long-term debt is as follows:
As Of
Facility Maturity Interest Rate
January 3,
2016
December 28,
2014
Senior secured debt
$450.0 million Credit Facility........................ April 17, 2020 Variable $160,000 $ —
Former Term Loan, net of original issue
discount..................................................... April 23, 2020 Variable — $ 256,357
Former Revolving Credit Facility.................. April 23, 2018 Variable — —
Total debt......................................................... 160,000 256,357
Less current portion .........................................
.
—(7,746)
Long-term debt, net of current portion........
.
$160,000 $248,611
Current portion of long-term debt is presented net of issue discount of $1.0 million as of
December 28, 2014. The non-current portion of long-term debt is presented net of issue discount of $3.9
million as of December 28, 2014.