(1) Does not include approximately
securities, classified as long-term investments in our Consolidated Balance
Sheet as of
(2) Current assets less current liabilities.
(3) Current assets divided by current liabilities. The Company does not have any
long-term debt. Inflation
We have not experienced any significant impact as a result of inflation.
Contractual Obligations The following table summarizes our contractual arrangements at
June 30, 2013: 43 Payments due by period Less than More than (in thousands) Total 1 year 1-3 years 3-5 years 5 years Operating lease obligations $ 86,366 $ 33,931 $ 41,220 $ 9,766 $ 1,449SERP obligations* 7,458 862 1,672 1,364 3,560 Purchase obligations 2,349 1,733 616 0 0 Capital lease obligations 162 68 47 32 15 Total $ 96,335 $ 36,594 $ 43,555 $ 11,162 $ 5,024
* The term "SERP" refers to our Supplemental Executive Retirement Plan. The amounts also include our obligations related to a similar plan that we sponsor related to our acquisition of Torex. See Note 15, "Employee Benefit Plans" in the Notes to Consolidated Financial Statements included in this report for further information. Due to the uncertainty with respect to the timing of future cash flows associated with our unrecognized income tax benefits at
June 30, 2013, we are unable to reasonably estimate settlements with taxing authorities. The above contractual obligations table does not reflect unrecognized income tax benefits of approximately $35.1 million. See Note 13 "Income Taxes" in the Notes to Consolidated Financial Statements included in this report. Forward-Looking Statements The preceding management's discussion and analysis of financial condition and results of operations should be read in conjunction with the consolidated financial statements and the related notes and other financial information included elsewhere in this Annual Report on Form 10- K. Certainstatements contained in this Annual Report on Form 10-K that are not historical facts are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Our actual results may differ materially from those anticipated in these forward-looking statements.
Examples of such forward-looking statements in this Annual Report on Form 10-K include the following:
· Item 1, "Business," statements regarding the growth of and our efforts to
further develop the OPERA suite of products; demand shift toward hosted
applications; our global distribution network; our intentions to acquire rights