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OTHER COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Feb. 29, 2012
OTHER COMMITMENTS AND CONTINGENCIES  
Summary of contractual obligations and commercial commitments

 

PAYMENTS DUE BY PERIOD - TWELVE MONTHS ENDED THE LAST DAY OF FEBRUARY:

(in thousands)

 

 

 

 

 

2013

 

2014

 

2015

 

2016

 

2017

 

After

 

 

 

Total

 

1 year

 

2 years

 

3 years

 

4 years

 

5 years

 

5 years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term debt - fixed rate

 

$

103,000

 

$

3,000

 

$

20,000

 

$

20,000

 

$

20,000

 

$

20,000

 

$

20,000

 

Term debt - floating rate (1)

 

75,000

 

-

 

-

 

75,000

 

-

 

-

 

-

 

Long-term incentive plan payouts

 

6,744

 

3,193

 

2,368

 

1,183

 

-

 

-

 

-

 

Interest on fixed rate debt

 

15,165

 

3,981

 

3,796

 

3,016

 

2,236

 

1,460

 

676

 

Interest on floating rate debt (1)

 

10,655

 

4,570

 

4,570

 

1,515

 

-

 

-

 

-

 

Open purchase orders

 

153,838

 

153,838

 

-

 

-

 

-

 

-

 

-

 

Minimum royalty payments

 

90,724

 

15,222

 

13,540

 

11,564

 

9,031

 

5,539

 

35,828

 

Advertising and promotional

 

65,463

 

6,712

 

5,494

 

5,251

 

5,435

 

5,625

 

36,946

 

Operating leases

 

19,063

 

4,520

 

3,891

 

3,917

 

3,144

 

1,538

 

2,053

 

Capital spending commitments

 

809

 

809

 

-

 

-

 

-

 

-

 

-

 

Total contractual obligations (2)

 

$

540,461

 

$

195,845

 

$

53,659

 

$

121,446

 

$

39,846

 

$

34,162

 

$

95,503

 

 

(1)     The Company uses an interest rate hedge agreement, or swap, in conjunction with its unsecured floating interest rate $75.00 million, Senior Notes due 2015.  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 2015 at 6.01 percent.   Accordingly, the future interest obligations related to this debt have been estimated using this rate.

 

(2)      In addition to the contractual obligations and commercial commitments in the table above, as of February 29, 2012, we have recorded a provision for uncertain tax positions of $13.21 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.