Abercrombie & Fitch 2008 Annual Report Download - page 78

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Table of Contents
ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
11. OTHER LIABILITIES
Other liabilities consisted of (thousands):
2008 2007
Accrued straight-line rent $ 77,312 $ 56,124
FIN 48 liability, including interest and penalties 53,419 49,411
Deferred compensation 71,288 59,298
Other 4,724 5,109
Other liabilities $ 206,743 $ 169,942
Deferred compensation includes the Chief Executive Officer Supplemental Executive Retirement
Plan (the “SERP”), the Abercrombie & Fitch Co. Savings and Retirement Plan and the Abercrombie &
Fitch Nonqualified Savings and Supplemental Retirement Plan, all further discussed in Note 15,
“Retirement Benefits”, as well as deferred Board of Directors compensation and other accrued retirement
benefits.
12. INCOME TAXES
The provision for income taxes consisted of (thousands):
2008 2007 2006*
Currently Payable:
Federal $ 151,331 $ 245,845 $ 236,553
State 13,177 36,441 24,885
$ 164,508 $ 282,286 $ 261,438
Deferred:
Federal $ 10,858 $ 1,039 $ (10,271)
State 3,147 303 (1,367)
$ 14,005 $ 1,342 $ (11,638)
Total provision $ 178,513 $ 283,628 $ 249,800
* Fiscal 2006 was a fifty-three week year.
74
Source: ABERCROMBIE & FITCH CO /DE/, 10-K, March 27, 2009 Powered by Morningstar® Document Research℠