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Other Long-Term Liabilities
12 Months Ended
Jun. 30, 2011
Other Long-Term Liabilities  
Other Long-Term Liabilities

NOTE 15. OTHER LONG-TERM LIABILITIES

 

Other long-term liabilities consisted of the following (in thousands):

 

     June 30,  
     2011      2010  

Deferred rent, net of current portion

   $ 25,983       $ 23,272   

Reserve for unrecognized tax benefits

     5,095         4,296   

Accrued post-retirement obligations

     3,447         3,198   

Deferred acquisition and contingent consideration

     526         34,196   

Other

     2,815         2,401   
  

 

 

    

 

 

 

Total other long-term liabilities

   $ 37,866       $ 67,363   
  

 

 

    

 

 

 

 

Deferred rent liabilities result from recording rent expense and incentives for tenant improvements on a straight-line basis over the life of the respective lease.

Accrued post-retirement obligations include projected liabilities for benefits the Company is obligated to provide under a long-term care, a group health, and an executive life insurance plan, each of which is unfunded. Plan benefits are provided to certain current and former executives, their dependents and other eligible employees, as defined. The post-retirement obligations also include accrued benefits under a supplemental retirement benefit plan covering the Company's chief executive officer. This plan became effective in August 2005 and replaced the retirement benefits that were forfeited to a former employer. The costs under these plans were $0.3 million during the year ended June 30, 2011.

 

The deferred acquisition consideration of $0.5 million at June 30, 2011 is related to amounts retained by the Company to secure the seller's indemnification obligations in connection with a U.K. acquisition made during the Company's year ended June 30, 2011. The deferred acquisition consideration of $34.2 million at June 30, 2010 is related to acquisitions made by the Company during the year ended June 30, 2010 and consists of $33.8 million of contingent consideration and $0.4 million related to amounts retained by the Company to secure the seller's indemnification obligations in connection with a U.K. acquisition. The related contingent consideration recorded as of June 30, 2011 is recorded as a current liability (see Note 12).