Abercrombie & Fitch 2008 Annual Report Download - page 77

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Table of Contents
ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
A summary of rent expense follows (thousands):
2008 2007 2006*
Store rent:
Fixed minimum $ 280,614 $ 231,653 $ 196,690
Contingent 14,278 21,489 20,192
Total store rent 294,892 253,142 216,882
Buildings, equipment and other 5,905 6,096 5,646
Total rent expense $ 300,797 $ 259,238 $ 222,528
* Fiscal 2006 was a fifty-three week year.
At January 31, 2009, the Company was committed to non-cancelable leases with remaining terms of
one to 20 years. A summary of operating lease commitments under non-cancelable leases follows
(thousands):
Fiscal 2009 $ 314,587
Fiscal 2010 $ 318,845
Fiscal 2011 $ 305,830
Fiscal 2012 $ 287,772
Fiscal 2013 $ 267,951
Thereafter $ 1,302,139
10. ACCRUED EXPENSES
Accrued expenses consisted of (thousands):
2008 2007
Gift card liability $ 57,459 $ 68,776
Construction in progress 27,329 55,242
Accrued salaries and related costs 46,248 52,612
Other 110,195 104,280
Accrued expenses $ 241,231 $ 280,910
Accrued salaries and related costs include salaries, benefits and withholdings.
73
Source: ABERCROMBIE & FITCH CO /DE/, 10-K, March 27, 2009 Powered by Morningstar® Document Research℠