Sunbeam 2007 Annual Report Download - page 89

Dividend Restrictions
The Facility and the Foreign Senior Debt contain a covenant which restricts the Company and its
subsidiaries from making certain “restricted payments” (any dividend or other distribution, whether in cash,
securities or other property, with respect to any stock or stock equivalents of the Company or any subsidiary),
except that:
• the Company may declare and make dividend payments or other distributions payable in common stock;
• the Company may repurchase shares of its own stock (provided certain financial and other conditions
are met); and
• the Company may make restricted payments during any fiscal year not otherwise permitted, provided
that certain applicable thresholds are met.
Debt Covenants
The Company was not in default of any of its debt covenants as of December 31, 2007.
Each of the Facility, the Foreign Senior Debt and the Indenture contain cross-default provisions pursuant to
which a default in respect to certain of the Company’s other indebtedness could trigger a default by the Company
under the Facility, the Foreign Senior Debt and the Indenture. If the Company defaults under the covenants
(including the cross- default provisions) the Company’s lenders could foreclose on their security interest in the
Company’s assets, which may have a material adverse effect on the Company’s consolidated results of
operations, financial condition or cash flows.
The Company’s obligations under the Facility and the Senior Notes are guaranteed, on a joint and several
basis, by certain of its domestic subsidiaries, all of which are directly or indirectly 100% owned by the Company
(See Note 19). The obligations under the Foreign Senior Debt are guaranteed by the Company and certain of its
foreign subsidiaries which are directly or indirectly 100% owned by the Company.
The Company’s debt maturities, including capital leases, securitization facility and other short-term debt for
the five years following December 31, 2007 and thereafter are as follows (in millions):
Years Ending December 31, Amount
2008 ............................................................. $ 297.8
2009 ............................................................. 23.3
2010 ............................................................. 18.7
2011 ............................................................. 1,238.9
2012 ............................................................. 516.8
Thereafter ........................................................ 656.9
Total principal payments ............................................. 2,752.4
Net discount and other ............................................... (5.1)
Total ........................................................ $2,747.3
Unless otherwise stated, at December 31, 2007 and 2006, the carrying value of debt approximates its fair
value.
At December 31, 2007 and 2006, unamortized deferred debt issue costs were $32.8 and $22.1, respectively.
These costs are included in “Other assets” on the Consolidated Balance Sheets and are being amortized over the
respective terms of the underlying debt.
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