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GYMB » Topics » Contractual Obligations

This excerpt taken from the GYMB 10-K filed Mar 31, 2009.

Contractual Obligations

 

($ in thousands)

    Less than
1 year		    1-3 years    3-5 years    After
5 years		    Total

Stand-by letters of credit

    $ 5,765    $ —      $ —      $ —      $ 5,765

Operating leases (1)

      71,306      132,133      119,303      191,911      514,653

Inventory purchase obligations (2)

      136,757      —        —        —        136,757

Other purchase obligations (3)

      8,578      2,941      1,008      504      13,031
                                  

Total contractual cash obligations

    $ 222,406    $ 135,074    $ 120,311    $ 192,415    $ 670,206
                                  

 

(1) Other lease-required expenses such as utilities, real estate taxes and common area repairs and maintenance are excluded. See Note 3 to the Consolidated Financial Statements for discussion of the Company’s operating leases.
(2) Inventory purchase obligations include outstanding purchase orders for merchandise inventories that are enforceable and legally binding on the Company and that specify all significant terms (including fixed or minimum quantities to be purchased), fixed, minimum or variable price provisions, and the approximate timing of the transaction.
(3) Other purchase obligations include commitments for information technology and professional services.

As of January 31, 2009, the Company had unrecognized tax benefits of $6.7 million, accrued interest of $1.2 million, and accrued penalties of $0.6 million. These amounts have been excluded from the contractual

 

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obligations table because a reasonably reliable estimate of the timing of future tax settlements cannot be determined.

These excerpts taken from the GYMB 10-K filed Mar 28, 2008.

Contractual Obligations

 

($ in thousands)

    Less than
1 year		    1-3 years    3-5 years    After
5 years		    Total

Stand-by letters of credit

    $ 4,978    $ —      $ —      $ —      $ 4,978

Operating leases (1):

               

Minimum rental obligations

      60,501      105,960      97,235      163,342      427,038

Other lease-required obligations

      29,031      50,234      44,969      74,068      198,302

Inventory purchase obligations (2)

      137,676      —        —        —        137,676

Other purchase obligations (3)

      5,830      1,879      1,511      —        9,220
                                  

Total contractual cash obligations

    $ 238,016    $ 158,073    $ 143,715    $ 237,410    $ 777,214
                                  

 

(1) Includes minimum rental obligations and other lease-required expenses such as utilities, real estate taxes and common area repairs and maintenance.
(2) Inventory purchase obligations include outstanding purchase orders for merchandise inventories that are enforceable and legally binding on the Company and that specify all significant terms (including fixed or minimum quantities to be purchased), fixed, minimum or variable price provisions, and the approximate timing of the transaction.
(3) Other purchase obligations include commitments for capital expenditures, information technology and professional services.

The Company adopted FIN 48 on the first day of fiscal 2007. As of February 2, 2008, the Company had unrecognized tax benefits of $6.9 million, accrued interest of $1.6 million, and accrued penalties of $0.5 million. These amounts have been excluded from the contractual obligations table because a reasonably reliable estimate of the timing of future tax settlements cannot be determined.

 

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Contractual
Obligations

 


























































































































































































($ in thousands)

  Less than
1 year		  1-3 years  3-5 years  After
5 years		  Total

Stand-by letters of credit

  $4,978  $—    $—    $—    $4,978

Operating leases (1):

          

Minimum rental obligations

   60,501   105,960   97,235   163,342   427,038

Other lease-required obligations

   29,031   50,234   44,969   74,068   198,302

Inventory purchase obligations (2)

   137,676   —     —     —     137,676

Other purchase obligations (3)

   5,830   1,879   1,511   —     9,220
                    

Total contractual cash obligations

  $238,016  $158,073  $143,715  $237,410  $777,214
                    

 





(1)Includes minimum rental obligations and other lease-required expenses such as utilities, real estate taxes and common area repairs and maintenance.




(2)Inventory purchase obligations include outstanding purchase orders for merchandise inventories that are enforceable and legally binding on the Company and that specify all
significant terms (including fixed or minimum quantities to be purchased), fixed, minimum or variable price provisions, and the approximate timing of the transaction.




(3)Other purchase obligations include commitments for capital expenditures, information technology and professional services.
STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">The Company adopted FIN 48 on the first day of fiscal 2007. As of February 2, 2008, the Company had unrecognized tax benefits of $6.9 million,
accrued interest of $1.6 million, and accrued penalties of $0.5 million. These amounts have been excluded from the contractual obligations table because a reasonably reliable estimate of the timing of future tax settlements cannot be determined.

 


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This excerpt taken from the GYMB 10-K filed Apr 2, 2007.

Contractual Obligations

 

($ in thousands)

    Less than
1 year		    1-3 years    3-5 years    After
5 years		    Total

Stand-by letters of credit

    $ 5,547    $ —      $ —      $ —      $ 5,547

Operating leases (1):

               

Minimum rental obligations

      51,765      84,528      71,573      126,499      334,365

Other lease-required obligations

      23,773      36,891      30,124      47,677      138,465

Inventory purchase obligations (2)

      127,746      —        —        —        127,746

Other purchase obligations (3)

      3,760      1,064      —        —        4,824
                                  

Total contractual cash obligations

    $ 212,591    $ 122,483    $ 101,697    $ 174,176    $ 610,947
                                  
(1) Includes minimum rental obligations and other lease-required expenses such as utilities, real estate taxes and common area repairs and maintenance.
(2) Inventory purchase obligations include outstanding purchase orders for merchandise inventories that are enforceable and legally binding on the Company and that specify all significant terms (including fixed or minimum quantities to be purchased), fixed, minimum or variable price provisions, and the approximate timing of the transaction.
(3) Other purchase obligations include commitments for capital expenditures, information technology and professional services.
This excerpt taken from the GYMB 10-K filed Apr 12, 2006.

Contractual Obligations

 

($ in thousands)

    Less than
1 year		    1-3 years    3-5 years    After 5
years		    Total

Stand-by letters of credit

    $ 6,216      —        —        —      $ 6,216

Operating leases (1):

               

Minimum rental obligations

      49,797      79,876      59,280      108,359      297,312

Other lease required obligations

      23,194      35,451      24,943      37,297      120,885

Inventory purchase obligations (2)

      81,421      —        —        —        81,421

Other purchase obligations (3)

      2,820      4,545      136      —        7,501
                                  

Total contractual cash obligations

    $ 163,448    $ 119,872    $ 84,359    $ 145,656    $ 513,335
                                  
(1) Includes minimum rental obligations and other lease-required expenses such as utilities, real estate taxes and common area maintenance.
(2) Inventory purchase obligations include outstanding purchase orders for merchandise inventories that are enforceable and legally binding on the Company and that specify all significant terms, including fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction.
(3) Other purchase obligations include commitments for capital expenditures, information technology and professional services.

 

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Table of Contents

The Company remains liable on lease agreements for its previous Burlingame, California headquarters assigned to its current landlord and for 2 Play & Music sites sold to franchisees. The Company does not believe that the maximum potential amount of future payments under these lease agreements would have a material current or future effect on its liquidity or capital resources.

The following table reflects a summary of our potential liability under lease guarantees and lease agreements as of January 28, 2006:

 

($ in thousands)

    Less than
1 year		    1-3 years    4-5 years    After
5 years		    Total

Lease guarantees

    $ 2,996    $ 49    $ —    $ —    $ 3,045

EXCERPTS ON THIS PAGE:

10-K
Mar 31, 2009
10-K (2 sections)
Mar 28, 2008
10-K
Apr 2, 2007
10-K
Apr 12, 2006

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