Supercuts 2005 Annual Report Download - page 49

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Fiscal Year 2004
In the second quarter of fiscal year 2004, we entered into an $11.9 million term loan related to our Salt Lake City Distribution Center. The
loan has a rate of 7.16 percent and matures in November of fiscal year 2011.
Fiscal Year 2003
In November 2002, we extended our revolving credit facility through November 2006. In February 2003, we renewed one of our private
placement debt facilities, thereby extending its terms through October 1, 2005 and increasing its related borrowing capacity from $125.0 to
$246.0 million. No other significant changes were made to either of the facilities’ terms. There were no other significant financing activities
during fiscal year 2003. Derivative instruments are discussed in Note 5 to the Consolidated Financial Statements and in Item 7A. of this Annual
Report on Form 10-K.
In June 2003, we borrowed $30.0 million under a 4.69 percent senior term note due June 2013 to repay existing debt from our revolving
credit facility.
Acquisitions
Acquisitions are discussed throughout Management’s Discussion and Analysis in this Item 8, as well as in Note 3 to the Consolidated
Financial Statements. The most significant of these acquisitions relates to the purchase of the hair restoration centers; refer to Note 3 of the
Consolidated Financial Statements for related pro forma information. The remainder of the acquisitions, individually and in the aggregate, were
not material to our operations. The acquisitions were funded primarily from operating cash flow, debt and the issuance of common stock.
Contractual Obligations and Commercial Commitments
The following table reflects a summary of obligations and commitments outstanding by payment date as of June 30, 2005:
(a)
In accordance with accounting principles generally accepted in the United States of America, these obligations are not reflected in the
Consolidated Balance Sheet.
48
Within
Payments due by period
More than
Contractual Obligations
1 year
1
-
3 years
3
-
5 years
5 years
Total
(Dollars in thousands)
On
-
balance sheet:
Long
-
term debt obligations
$
14,591
$
90,347
$
127,177
$
317,158
$
549,273
Capital lease obligations
5,156
10,446
3,901
—
19,503
Other long-term liabilities
1,623
2,703
2,699
19,166
26,191
Total on-balance sheet
21,370
103,496
133,777
336,324
594,967
Off
-
balance sheet
(a)
:
Operating lease obligations
274,102
435,922
266,552
230,814
1,207,390
Other long-term obligations
605
423
1,167
2
2,197
Total off-balance sheet
274,707
436,345
267,719
230,816
1,209,587
Total
$
296,077
$
539,841
$
401,496
$
567,140
$
1,804,554