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OTHER COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Feb. 28, 2013
OTHER COMMITMENTS AND CONTINGENCIES  
Summary of contractual obligations and commercial commitments

(in thousands)

 

 

 

 

2014

 

2015

 

2016

 

2017

 

2018

 

After

 

 

 

Total

 

1 year

 

2 years

 

3 years

 

4 years

 

5 years

 

5 years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term debt - fixed rate

 

$

100,000

 

$

20,000

 

$

20,000

 

$

20,000

 

$

20,000

 

$

20,000

 

$

-

 

Term debt - floating rate (1)

 

75,000

 

-

 

75,000

 

-

 

-

 

-

 

-

 

Long-term incentive plan payouts

 

9,376

 

4,138

 

3,352

 

1,886

 

-

 

-

 

-

 

Interest on fixed rate debt

 

11,180

 

3,796

 

3,016

 

2,236

 

1,456

 

676

 

-

 

Interest on floating rate debt (1)

 

6,085

 

4,570

 

1,515

 

-

 

-

 

-

 

-

 

Open purchase orders

 

183,273

 

183,273

 

-

 

-

 

-

 

-

 

-

 

Long-term purchase commitments

 

3,030

 

303

 

606

 

606

 

606

 

606

 

303

 

Minimum royalty payments

 

84,884

 

13,453

 

12,689

 

12,731

 

9,795

 

9,424

 

26,792

 

Advertising and promotional

 

58,284

 

8,842

 

5,659

 

5,660

 

5,263

 

5,368

 

27,492

 

Operating leases

 

20,146

 

5,971

 

5,863

 

4,556

 

1,599

 

1,133

 

1,024

 

Capital spending commitments

 

36,085

 

36,085

 

-

 

-

 

-

 

-

 

-

 

Total contractual obligations (2)

 

$

587,343

 

$

280,431

 

$

127,700

 

$

47,675

 

$

38,719

 

$

37,207

 

$

55,611

 

 

(1) The Company uses an interest rate hedge agreement (the “swap”), in conjunction with its unsecured floating interest rate $75.00 million, Senior Notes due June 2014.  The swap hedges the variable LIBOR rates used to reset the floating rates on these Senior Notes.  The swap effectively fixes the interest rates on the Senior Notes due June 2014 at 6.01 percent.

 

(2)  In addition to the contractual obligations and commercial commitments in the table above, as of February 28, 2013, we have recorded a provision for uncertain tax positions of $15.76 million. We are unable to reliably estimate the timing of future payments, if any, related to uncertain tax positions; therefore, we have excluded these tax liabilities from the table above.