Off-Balance Sheet Arrangements As of
In the normal course of business, we routinely enter into binding and non-binding purchase obligations primarily covering anticipated purchases of inventory and equipment. We do not expect that these commitments, as of
July 31, 2013, will materially adversely affect our liquidity. At July 31, 2013, cash payments due under long-term obligations, excluding interest on the 3.0% convertible senior notes and purchase orders that we entered into in our normal course of business, are as follows: Obligations Due by Fiscal Years
or Maturity Date (in thousands)
2015 2017 and and After Total 2014 2016 2018 2018 Operating lease commitments
$ 28,8647,071 10,987 7,388 3,418 3.0% convertible senior notes (see note below) 200,000 - - - 200,000 Total contractual cash obligations 228,864 7,071 10,987 7,388 203,418 Less contractual sublease payments (2,879 ) (1,264 ) (1,615 ) - - Net contractual cash obligations $ 225,9855,807 9,372 7,388 203,418 As discussed further in "Notes to Consolidated Financial Statements - Note (9) 3.0% Convertible Senior Notes" included in "Part II - Item 8. - Financial Statements and Supplementary Data," on May 8, 2009, we issued $200.0 millionof our 3.0% convertible senior notes. Although these notes have maturity date of May 1, 2029, holders of the notes have the right to require us to repurchase some or all of the outstanding notes, solely for cash, on May 1, 2014, May 1, 2019and May 1, 2024and upon certain events, including a change in control. Our 3.0% convertible senior notes are reflected as a current liability in our consolidated balance sheet at July 31, 2013, as it is possible that the holders of the notes may require us to repurchase some or all of the outstanding notes on May 1, 2014. If not redeemed by us or repaid pursuant to the holders' right to require repurchase, the notes mature on May 1, 2029. As discussed further in "Notes to Consolidated Financial Statements - Note (17) Stockholders' Equity," included in "Part II - Item 8. - Financial Statements and Supplementary Data," on October 3, 2013, our Board of Directors declared a cash dividend of $0.275per common share to be paid on November 19, 2013to our shareholders of record at the close of business on October 18, 2013. Future dividends are subject to Board approval. No dividend amounts are included in the above table.