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Variable Interest Entity
9 Months Ended
Sep. 30, 2012
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]  
Variable Interest Entity
Variable Interest Entity
 
An entity is considered to be a variable interest entity ("VIE") if its total equity investment at risk is not sufficient
to permit the entity to finance its activities without additional subordinated financial support or if its equity investors,
as a group, lack the characteristics of having a controlling financial interest. A reporting company is required to
consolidate a VIE as its primary beneficiary when it has both the power to direct the activities of the VIE that most
significantly impact the VIE's economic performance and the obligation to absorb losses or the right to receive
benefits from the VIE that could potentially be significant to the VIE.

The Company had a lease agreement with an independent lessor that was considered to be a VIE.  The agreement provided $28,720 of financing for five of the Company’s distribution facilities and carried a five-year term expiring in July 2013.  The financing structure used with this lease qualified as a silo of a VIE.  Graybar, as lessee, retained the power to direct the operational activities that most significantly impacted the economic performance of the VIE and had an obligation to absorb losses and the right to receive benefits from the sale of the real property held by the VIE lessor.  Therefore, the Company was the primary beneficiary of this VIE, and in accordance with US GAAP, consolidated the silo in its financial statements. At December 31, 2011, the consolidated silo included in the Company’s consolidated financial statements had a net property balance of $15,118, current portion of long-term debt of $27,715, and a noncontrolling interest of $1,005. Under the terms of the lease agreement, the amount guaranteed by the Company as the residual fair value of the property subject to the lease arrangement was $28,720 at December 31, 2011.

In December 2011, the Company notified the independent lessor of its intent to prepay and terminate the variable-rate lease arrangement. As a result, the Company reclassified the $27,715 debt portion of the variable-rate lease arrangement from long-term debt to current portion of long-term debt as of December 31, 2011. In March 2012, the Company terminated the lease arrangement, prepaid the $27,715 balance owed on the debt portion of the lease arrangement, and purchased the $1,005 noncontrolling interest in the consolidated silo.