of Financial Condition and Results of Operations
Below is a table showing payment obligations for long-term debt, capital leases, operating leases and purchase obligations for the next five years and beyond:
| Payments Due By Period | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Contractual Obligations | Total | Less than 1 year |
1-3 years | 3-5 years | More than 5 years |
||||||||||||||
| (Amounts in thousands) | |||||||||||||||||||
| Long-term debt (excluding capital lease obligations and convertible subordinated debentures)(1) |
$ | 122,642 | $ | 3,360 | $ | 116,935 | $ | 456 | $ | 1,891 | |||||||||
| Capital lease obligations | 7,560 | 2,566 | 4,646 | 348 | — | ||||||||||||||
| Operating leases | 11,495 | 3,739 | 5,613 | 2,143 | — | ||||||||||||||
| Other long-term liabilities: Deferred compensation and non-qualified retirement plans |
33,609 | 6,075 | 10,164 | 6,266 | 11,104 | ||||||||||||||
| Insurance reserves | 53,799 | 17,531 | 36,268 | — | — | ||||||||||||||
| Convertible subordinated debentures(2) | 210,142 | — | — | — | 210,142 | ||||||||||||||
| Total | $ | 439,247 | $ | 33,271 | $ | 173,626 | $ | 9,213 | $ | 223,137 | |||||||||
(1) Long-term debt includes the $100 million aggregate principal amount of the 5% convertible senior subordinated debentures due in 2023, which are more fully described in Note 13 to the Company’s financial statements. Holders of these debentures have the ability, in whole or in part, to require the Company to repurchase these debentures as early as December 15, 2008, and the payment maturity above has been presented accordingly. The Company may, at its option, elect to pay the repurchase price in cash, its common stock or a combination thereof.
(2) Includes $8.9 million of obligation that represents the purchase by the Company of the common shares of the underlying trust. Our net obligation to third parties totaled $201.3 million.