Abercrombie & Fitch 2010 Annual Report Download - page 83
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Table of Contents
ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
11. ACCRUED EXPENSES
Accrued expense consisted of (in thousands):
2010 2009
Accrued payroll and related costs $ 71,456 $ 45,476
Gift card liability 47,098 49,778
Accrued taxes 40,562 32,784
Construction in progress 24,915 5,838
Accrued rent 23,247 15,356
Return reserve 16,764 11,665
Other 82,545 85,392
Accrued expenses $ 306,587 $ 246,289
Accrued payroll and related costs include salaries, benefits, withholdings and other payroll related costs. Other accrued expenses
include expenses incurred but not yet paid related to outside services associated with store, direct-to-consumer and home office
operations.
12. OTHER LIABILITIES
Other liabilities consisted of (in thousands):
2010 2009
Accrued straight-line rent $ 95,838 $ 87,147
Deferred compensation 76,198 66,053
Unrecognized tax benefits, including interest and penalties 20,994 39,314
Other 10,537 21,656
Other liabilities $ 203,567 $ 214,170
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 17, "Retirement Benefits" as well as deferred Board of Directors compensation and other
accrued retirement benefits.
13. INCOME TAXES
Earnings from continuing operations before taxes (in thousands):
2010 2009 2008
Domestic $ 190,570 $ 119,358 $ 501,125
Foreign 38,000 152 8,519
Total $ 228,570 $ 119,510 $ 509,644
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