Abercrombie & Fitch 2014 Annual Report Download - page 60

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ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
60
Accrued payroll and related costs include salaries, incentive compensation, benefits, withholdings and other payroll related costs.
Other accrued expenses include expenses incurred but not yet paid related to outside services associated with store and home
office operations.
10. OTHER LIABILITIES
Other liabilities consisted of (in thousands):
January 31, 2015 February 1, 2014
Accrued straight-line rent $ 99,108 $ 114,001
Deferred compensation 56,244 87,385
Uncertain tax positions, including interest and penalties 4,572 5,777
Other 21,362 24,594
Other liabilities $ 181,286 $ 231,757
Deferred compensation includes the 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 16, “RETIREMENT BENEFITS,” as well as deferred Board of Directors compensation and other accrued retirement
benefits.
11. INCOME TAXES
Income before taxes was comprised of:
(in thousands) Fiscal 2014 Fiscal 2013 Fiscal 2012
Domestic $ 100,115 $ 37,325 $ 302,589
Foreign (961) 35,952 64,356
Total $ 99,154 $ 73,277 $ 366,945
Domestic income above includes intercompany charges to foreign affiliates for management fees, cost-sharing, royalties, including
those related to international direct-to-consumer operations and interest. The provision for tax expense consisted of:
(in thousands) Fiscal 2014 Fiscal 2013 Fiscal 2012
Current:
Federal $ 21,287 $ 52,579 $ 111,761
State 1,944 (4,988) 15,323
Foreign 28,614 17,851 17,984
$ 51,845 $ 65,442 $ 145,068
Deferred:
Federal $ 8,971 $ (36,732) $ (10,456)
State 1,783 (4,606) 458
Foreign (15,266) (5,455) (5,136)
$ (4,512) $ (46,793) $ (15,134)
Total provision $ 47,333 $ 18,649 $ 129,934