COMMITMENTS AND CONTINGENCIES

12 Months Ended

Mar. 31, 2014

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

17. COMMITMENTS AND CONTINGENCIES

Contractual obligations

The Company’s contractual obligations primarily relate to various operating lease agreements for office space, equipment and land for various periods that extend through as late as fiscal 2100. Total rent payments from continuing operations under these agreements were approximately $16.3 million, $18.4 million and $19.8 million, respectively, for fiscal 2014, 2013 and 2012. Certain of these lease agreements contain provisions for renewal options and escalation clauses.

The Company also has commitments under various advertising and charitable contribution agreements totaling $3.5 million and $1.4 million, respectively, at March 31, 2014. Total expense related to these agreements was approximately $9.0 million, $6.2 million and $7.3 million for fiscal 2014, 2013 and 2012, respectively.

The following table summarizes our payments under contractual obligations as of March 31, 2014 (in thousands):

	Payment Due by Period as of March 31,
	Total		2015		2016		2017		2018		2019		Thereafter
Contractual obligations:
Operating leases	$	244,213	$	14,186	$	10,742	$	9,570	$	8,251	$	6,917	$	194,547
Other		4,870		3,420		400		150		150		150		600
Total	$	249,083	$	17,606	$	11,142	$	9,720	$	8,401	$	7,067	$	195,147

The Company also leases space within the Company’s headquarters facility to business tenants. Cash receipts relating to these lease spaces totaled $5.4 million, $4.9 million and $4.6 million, respectively, for fiscal 2014, 2013 and 2012.

The following is a schedule of future minimum lease rental income commitments (in thousands):

	Payment Due by Period as of March 31,
	Total		2015		2016		2017		2018		2019		Thereafter
Lease rental income commitments	$	15,523	$	5,721	$	4,721	$	1,231	$	1,130	$	870	$	1,850

Legal Matters

Effective October 1, 2013, the Company terminated a post-retirement consulting agreement with its former chairman for “Cause”, and all outstanding equity awards he held terminated pursuant to the applicable agreements. On November 13, 2013, the former chairman filed a lawsuit against the Company regarding his termination. The Company and the former chairman have agreed to binding arbitration of this dispute. The accounting impact of the termination of the vested and unvested stock options and unvested RSUs was recognized in other income net of a portion of the estimated liability related to the pending lawsuit. The Company believes its accruals as of March 31, 2014, related to this dispute are reasonably estimated.

The Company is subject to various other legal actions and claims incidental to its business. The Company makes a provision for a liability when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Based on legal procedures outstanding, the Company does not believe these will have a material effect on the financial statements. However, litigation is subject to many uncertainties and the outcome of individual litigated matters is not predictable with assurance.