Cabela's 2014 Annual Report Download - page 101

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91
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
Aggregate expected maturities of long-term debt and scheduled capital lease payments for the years shown
are as follows:
Scheduled Capital
Lease Payments
Long-Term Debt
Maturities
2015 $ 1,000 $ 8,143
2016 1,000 223,143
2017 1,000 68,143
2018 1,000 8,142
2019 1,000 180,000
Thereafter 16,500 -
21,500 487,571
Capital lease amount representing interest (9,356)
Present value of net scheduled lease payments $ 12,144 12,144
Total long-term debt and capital leases $ 499,715
14. IMPAIRMENT AND RESTRUCTURING CHARGES
Impairment and restructuring charges consisted of the following for the years ended:
2014 2013 2012
Impairment losses relating to:
Accumulated amortization of deferred grant income $ - $ 4,931 $ 1,309
Property, equipment, and other assets - 937 1,321
Other property - - 17,694
- 5,868 20,324
Restructuring charges for severance and related benefits 641 - -
Total $ 641 $ 5,868 $ 20,324
Long-lived assets of the Company are evaluated for possible impairment (i) whenever events or changes in
circumstances may indicate that the carrying value of an asset may not be recoverable and (ii) at least annually for
recurring fair value measurements and for those assets not subject to amortization. In 2014, 2013, and 2012, we
evaluated the recoverability of our economic development bonds, property (including existing store locations and
future retail store sites), equipment, goodwill, other property, and other intangible assets.
Canada Distribution Center:
On June 11, 2014, the Company announced the transition to a third-party logistics provider for distribution
needs in Canada. Therefore, we expect to close our distribution center in Winnipeg, Manitoba, in March 2015.
The third-party logistics provider began processing a portion of our Canada merchandise in a Calgary, Alberta,
distribution center in October 2014. Accordingly, in fiscal year 2014, the Company recognized a restructuring
charge related to employee severance agreements and termination benefits totaling $641. This restructuring charge
was recognized in the Corporate Overhead and Other segment.