Commitments and Contingencies

12 Months Ended

Feb. 02, 2013

Commitments and Contingencies

Commitments and Contingencies

14. Commitments and Contingencies

The Company enters into licensing agreements for the exclusive or preferential rights to use certain trademarks extending through 2020. Under specific agreements, the Company is obligated to pay annual guaranteed minimum royalties. The aggregate amount of required payments at February 2, 2013 is as follows (in thousands):

Fiscal Year
2013	$	16,017
2014		16,014
2015		2,600
2016		2,700
2017		2,800
Thereafter		9,000
Total	$	49,131

Also, the Company is required to pay additional royalties when the royalties that are based on the qualified purchases or retail sales (depending on the agreement) exceed the guaranteed minimum. The aggregate payments made under these agreements requiring minimum guaranteed contractual amounts were $17.8 million, $9.0 million and $11.4 million during fiscal 2012, 2011 and 2010, respectively.

The Company also has certain naming rights, marketing and other commitments extending through 2026 of $127.9 million. Payments under these commitments were $35.4 million during fiscal 2012. Payments under these commitments are scheduled to be made as follows: fiscal 2013, $66.7 million; fiscal 2014, $22.3 million; fiscal 2015, $6.7 million; fiscal 2016, $3.8 million; fiscal 2017, $2.6 million; and thereafter, $25.8 million.

In December 2009, the Company entered into an asset assignment agreement with a related party. The Company made deposits totaling $8 million in fiscal 2009, $5 million in fiscal 2011 and $35.4 million in fiscal 2012 under the assigned purchase agreement. All deposits are attributed to the total purchase price of $60.3 million, which is payable in increments through 2013. If the agreement is terminated prior to the delivery date, up to $3.5 million of the deposits are non-refundable.

The Company is involved in legal proceedings incidental to the normal conduct of its business. Although the outcome of any pending legal proceedings cannot be predicted with certainty, management believes that adequate insurance coverage is maintained and that the ultimate resolution of these matters will not have a material adverse effect on the Company's liquidity, financial position or results of operations.