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Store Support Center Purchase | 6 Months Ended
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Jul. 28, 2012
Store Support Center Purchase |
Store Support Center Purchase |
7. Store Support Center Purchase On May 7, 2012, the Company purchased the Store Support Center, its corporate headquarters building for $133.4 million, including closing costs, pursuant to a purchase option included in its pre-existing lease agreement. Due to the Company’s purchase option under the lease agreement, the transaction was recorded as a financing lease in accordance with GAAP and the debt obligation recognized by the Company represented our obligation to the lessor upon exercise of the purchase option. Accordingly, the Company’s payment to purchase its corporate headquarters building is reflected as an extinguishment of its pre-existing financing lease obligation in the current period. The Company funded the purchase of the building from cash on hand.

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- Definition The entire disclosure relating to the Company's purchase of its corporate headquarters building. + References No definition available. + Details
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