Abercrombie & Fitch 2015 Annual Report Download - page 55

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Table of Contents ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
55
banking commitments and deposits into trust accounts to conform to standard insurance security requirements. Other includes
prepaid leases and various other assets.
8. ACCRUED EXPENSES
Accrued expenses consisted of:
(in thousands) January 30, 2016 January 31, 2015
Accrued payroll and related costs $ 60,464 $ 56,384
Gift card liability 36,384 36,936
Accrued taxes 37,203 34,629
Construction in progress 43,129 30,661
Accrued rent 24,739 25,607
Other 119,318 98,519
Accrued expenses $ 321,237 $ 282,736
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.
9. DEFERRED LEASE CREDITS
Deferred lease credits are derived from payments received from landlords to wholly or partially offset store construction costs
and are classified between current and long-term liabilities. The amounts, which are amortized over the respective terms of the
related leases, consisted of the following:
(in thousands) January 30, 2016 January 31, 2015
Deferred lease credits $ 472,279 $ 490,452
Amortized deferred lease credits (359,720) (357,430)
Total deferred lease credits, net 112,559 133,022
Less: short-term portion of deferred lease credits (23,303) (26,629)
Long-term portion of deferred lease credits $ 89,256 $ 106,393
10. INCOME TAXES
Income before taxes was comprised of:
(in thousands) Fiscal 2015 Fiscal 2014 Fiscal 2013
Domestic $ 8,412 $ 100,115 $ 37,325
Foreign 46,178 (961) 35,952
Total $ 54,590 $ 99,154 $ 73,277
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 through October 31, 2015.