Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v2.4.0.6
Commitments and Contingencies (Tables)
12 Months Ended
Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
Minimum payments under purchase contracts
At June 30, 2012, minimum payments under these contracts were as follows (in thousands):
Yarn
$
21,871

Natural Gas
1,346

Finished fabric
1,611

Finished products
21,823

 
$
46,651

Outstanding financial instruments
The outstanding financial instruments as of June 30, 2012 are as follows:
 
Effective Date
 
Notational
Amount
 
LIBOR Rate
 
Maturity Date
Interest Rate Swap
9/1/2011
 
$10 million
 
0.7650
%
 
9/1/2013
Interest Rate Swap
9/1/2011
 
$10 million
 
0.9025
%
 
3/1/2014
Interest Rate Swap
9/1/2011
 
$10 million
 
1.0700
%
 
9/1/2014
Financial liabilities measure at fair value on a recurring basis
The following financial liabilities are measured at fair value on a recurring basis (in thousands):
 
Fair Value Measurements Using
Period Ended
Total
 
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant
Unobservable
Inputs
(Level 3)
Interest Rate Swap
 
 
 
 
 
 
 
June 30, 2012
$
209

 

 
$
209

 

July 2, 2011
$
22

 

 
$
22

 

 
 
 
 
 
 
 
 
Contingent Consideration
 
 
 
 
 
 
 
June 30, 2012

 

 

 

July 2, 2011

 

 

 

Summary of fair value and presentation in the consolidated balance sheets for derivatives
The following table summarizes the fair value and presentation in the consolidated balance sheets for derivatives as of June 30, 2012 and July 2, 2011.
 
June 30,
2012
 
7/2/2011
Accrued expenses
$

 
$
22

Deferred tax liabilities
(80
)
 
(8
)
Other liabilities
209

 

Accumulated other comprehensive loss
$
129

 
$
14

Schedule of Future Minimum Payments
Future minimum lease payments under non-cancelable operating leases as of June 30, 2012 were as follows (in thousands):
Fiscal Year
Amount
2013
$
8,912

2014
7,054

2015
6,609

2016
4,947

2017
2,618

Thereafter
1,183

 
$
31,323

Based on minimum sales requirements, future minimum royalty payments required under these license agreements are (in thousands):
Fiscal Year
Amount
2013
$
2,496

2014
2,787

2015
2,335

2016
770

2017

 
$
8,388