Supercuts 2011 Annual Report Download - page 120

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Table of Contents
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
7. FAIR VALUE MEASUREMENTS (Continued)
8. FINANCING ARRANGEMENTS
The Company's long-term debt as of June 30, 2011 and 2010 consists of the following:
The debt agreements contain covenants, including limitations on incurrence of debt, granting of liens, investments, merger or consolidation,
and transactions with affiliates. In addition, the Company must adhere to specified fixed charge coverage and leverage ratios, as well as
minimum net worth levels. We were in compliance with all covenants and other requirements of our financing arrangements as of June 30, 2011.
Additional details are included below with the discussion of the specific categories of debt.
115
translation rate adjustments during the fourth quarter of fiscal year 2011 on the Promenade salon concept
goodwill balance.
June 30,
2010
Level 1
Level 2
Level 3
Total Losses
(Dollars in thousands)
Assets
Goodwill
—
Regis(1)
$
102,180
$
—
$
—
$
102,180
$
(35,277
)
Total
$
102,180
$
—
$
—
$
102,180
$
(35,277
)
(1)
Goodwill of the Regis salon concept with a carrying value of $136.6 million was written down to its implied
fair value, resulting in an impairment charge of $35.3 million, which was recorded during fiscal year 2010.
The Company recorded $0.8 million of translation rate adjustments during the fourth quarter of fiscal year
2010 on the Regis salon concept goodwill balance.
Interest rate %
Amounts outstanding
Maturity
Dates
(fiscal year)
2011
2010
2011
2010
(Dollars in thousands)
Senior term notes
2013
-
2018
6.69
-
8.50
%
5.65
-
8.39
%
$
133,571
$
174,107
Convertible senior notes
2015
5.00
5.00
156,248
151,760
Term loan
2011
—
2.86
—
85,000
Revolving credit facility
2016
—
—
—
—
Equipment and leasehold
notes payable
2015
-
2016
8.80
-
9.14
8.93
-
9.35
22,273
27,473
Other notes payable
2012
-
2013
5.75
-
8.00
3.00
-
8.00
1,319
1,689
313,411
440,029
Less current portion
(32,252
)
(51,629
)
Long
-
term portion
$
281,159
$
388,400