Abercrombie & Fitch 2011 Annual Report Download - page 89
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ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
13. OTHER LIABILITIES
Other liabilities consisted of (in thousands):
2011 2010
Accrued straight-line rent .................................... $114,136 $ 95,838
Deferred compensation ...................................... 84,573 76,198
Unrecognized tax benefits, including interest and penalties .......... 19,496 20,994
Other .................................................... 17,143 10,537
Other liabilities ............................................ $235,348 $203,567
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 18, “Retirement
Benefits,” as well as deferred Board of Directors compensation and other accrued retirement benefits.
14. INCOME TAXES
Earnings from continuing operations before taxes were comprised of (in thousands):
2011 2010 2009
Domestic ....................................... $148,629 $190,570 $119,358
Foreign ........................................ 37,824 38,000 152
Total .......................................... $186,453 $228,570 $119,510
Domestic income above includes intercompany charges to foreign affiliates for management fees,
cost-sharing, royalties and interest. The provision for income taxes from continuing operations consisted of
(in thousands):
2011 2010 2009
Current:
Federal ....................................... $100,495 $ 94,922 $ 33,212
State ......................................... 11,085 16,126 4,003
Foreign ....................................... 13,262 11,395 5,086
$124,842 $122,443 $ 42,301
Deferred:
Federal ....................................... $(47,619) $ (32,669) $ 10,055
State ......................................... (10,007) (7,229) (147)
Foreign ....................................... (7,625) (4,258) (11,652)
$ (65,251) $ (44,156) $ (1,744)
Total provision .................................. $ 59,591 $ 78,287 $ 40,557
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