Cabela's 2013 Annual Report Download - page 72

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62
Certificates of Deposit
The Financial Services segment utilizes brokered and non-brokered certificates of deposit to partially finance
its operating activities. The Financial Services segment issues certificates of deposit in a minimum amount of
one hundred thousand dollars in various maturities. At December 28, 2013, the Financial Services segment had
$1.1 billion of certificates of deposit outstanding with maturities ranging from January 2014 to July 2023 and
with a weighted average effective annual fixed rate of 2.14%. This outstanding balance compares to $1.0 billion at
December 29, 2012, with a weighted average effective annual fixed rate of 2.22%. See “Contractual Obligations
and Other Commercial Commitments” for a table showing the maturity schedule of certificates of deposit.
Impact of Inflation
We do not believe that our operating results have been materially affected by inflation during the preceding
three years. We cannot assure, however, that our operating results will not be adversely affected by inflation in the
future.
Contractual Obligations and Other Commercial Commitments
The following tables provide summary information concerning our future contractual obligations at
December 28, 2013.
2014 2015 2016 2017 2018 Thereafter Total
(In Thousands)
Long-term debt (1) $ 8,143 $ 8,143 $ 226,075 $ 68,143 $ 8,142 $ - $ 318,646
Interest payments on
long-term debt (2) 19,189 18,581 11,554 2,997 293 - 52,614
Capital lease obligations 1,000 1,000 1,000 1,000 1,000 17,500 22,500
Operating leases 16,035 20,956 20,489 20,098 26,516 269,619 373,713
Time deposits by
maturity 297,645 273,385 216,619 26,110 20,911 234,692 1,069,362
Interest payments on
time deposits 19,490 14,788 34,823 7,019 6,798 28,517 111,435
Secured obligations
of the Trust 50,000 467,500 510,000 850,000 297,500 327,250 2,502,250
Interest payments on
secured obligations of
the Trust (2) 39,367 34,674 28,722 16,152 11,390 36,952 167,257
Obligations under retail
store arrangements (3) 243,032 157,132 548 569 571 5,084 406,936
Purchase obligations (4) 571,306 19,634 9,277 4,106 450 - 604,773
Unrecognized tax
benefits (5) - - - - - 64,800 64,800
Total $ 1,265,207 $ 1,015,793 $ 1,059,107 $ 996,194 $ 373,571 $ 984,414 $ 5,694,286
(1) Excludes amounts owed under capital lease obligations.
(2) These amounts do not include estimated interest payments due under our revolving credit facilities or our
secured variable funding obligations because the amount that will be borrowed under these facilities in future
years is uncertain.
(3) Includes approximately $384 million of estimated contractual obligations and commitments associated
with projected new retail store-related expansion. The table does not include any amounts for contractual
obligations associated with retail store locations where we are in the process of certain negotiations.