Cabela's 2013 Annual Report Download - page 97

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87
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
10. TIME DEPOSITS
The Financial Services segment accepts time deposits only in amounts of at least one hundred thousand
dollars. All time deposits are interest bearing. The aggregate amount of time deposits, net of brokered fees, by
maturity was as follows at the years ended:
2013 2012
2013 $ - $ 367,350
2014 297,645 297,628
2015 273,385 199,314
2016 216,619 152,078
2017 26,110 26,164
2018 20,911 5,484
Thereafter 234,692 -
1,069,362 1,048,018
Less current maturities (297,645) (367,350)
Deposits classified as non-current liabilities $ 771,717 $ 680,668
Time deposits include brokered institutional certificates of deposit, net of fees, totaling $1,062,312 and
$1,032,817 at the end of 2013 and 2012, respectively.
11. BORROWINGS OF FINANCIAL SERVICES SEGMENT
The Trust issues fixed and floating (variable) rate term securitizations, which are considered secured
obligations backed by restricted credit card loans. A summary of the secured fixed and variable rate long-term
obligations of the Trust by series, the expected maturity dates, and the respective weighted average interest rates
are presented in the following tables at the years ended:
December 28, 2013:
Series
Expected
Maturity
Date Fixed Rate
Obligations Interest
Rate Variable Rate
Obligations Interest
Rate Total
Obligations Interest
Rate
Series 2010-I January 2015 $ - -% $ 255,000 1.62% $ 255,000 1.62%
Series 2010-II September 2015 127,500 2.29 85,000 0.87 212,500 1.72
Series 2011-II June 2016 155,000 2.39 100,000 0.77 255,000 1.75
Series 2011-IV October 2016 165,000 1.90 90,000 0.72 255,000 1.48
Series 2012-I Febr ua r y 2017 275,000 1.63 150,000 0.70 425,000 1.30
Series 2012-II June 2017 300,000 1.45 125,000 0.65 425,000 1.21
Series 2013-I February 2023 327,250 2.71 - - 327,250 2.71
Series 2013-II August 2018 100,000 2.17 197,500 0.82 297,500 1.27
Secured long-term
obligations of the Trust $ 1,449,750 $ 1,002,500 $ 2,452,250