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OTHER COMMITMENTS AND CONTINGENCIES (Tables)
12 Months Ended
Feb. 28, 2014
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)

 

 

 

 

2015

 

2016

 

2017

 

2018

 

2019

 

After

 

 

 

Total

 

1 year

 

2 years

 

3 years

 

4 years

 

5 years

 

5 years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term debt - fixed rate

 

$

80,000

 

$

20,000

 

$

20,000

 

$

20,000

 

$

20,000

 

$

-    

 

$

-    

 

Term debt - floating rate (1)

 

112,607

 

76,900

 

1,900

 

3,800

 

5,700

 

1,900

 

22,407

 

Long-term incentive plan payouts

 

11,145

 

5,300

 

3,801

 

2,044

 

-    

 

-    

 

-    

 

Interest on fixed rate debt

 

7,384

 

3,016

 

2,236

 

1,456

 

676

 

-    

 

-    

 

Interest on floating rate debt (1)

 

4,066

 

1,927

 

390

 

347

 

281

 

259

 

862

 

Open purchase orders

 

188,770

 

188,770

 

-    

 

-    

 

-    

 

-    

 

-    

 

Long-term purchase commitments

 

2,957

 

836

 

606

 

606

 

606

 

303

 

-    

 

Minimum royalty payments

 

78,632

 

12,689

 

12,731

 

12,545

 

9,674

 

9,488

 

21,505

 

Advertising and promotional

 

49,969

 

6,685

 

5,160

 

5,263

 

5,368

 

5,476

 

22,017

 

Operating leases

 

10,656

 

3,849

 

2,472

 

1,780

 

1,287

 

1,268

 

-    

 

Capital spending commitments

 

423

 

423

 

-    

 

-    

 

-    

 

-    

 

-    

 

Total contractual obligations (2)

 

$

546,609

 

$

320,395

 

$

49,296

 

$

47,841

 

$

43,592

 

$

18,694

 

$

66,791

 

 

 

(1)           The Company uses an interest rate swap in conjunction with its unsecured floating rate, $75 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, 2014, we have recorded a provision for uncertain tax positions of $13.92 million. We are unable to reliably estimate the timing of most of the future payments, if any, related to our uncertain tax positions; therefore, we have excluded these tax liabilities from the table above.