Banana Republic 2010 Annual Report Download - page 56

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Other Long-Term Assets
Other long-term assets consist of the following:
($ in millions) January 29,
2011 January 30,
2010
Long-termtax-relatedassets ......................................................... $259 $392
Goodwill ........................................................................... 99 99
Tradename......................................................................... 54 54
Deferred compensation plan assets ................................................... 27 21
Leaserightsandkeymoney,netofaccumulatedamortizationof$140and$137 ............ 20 26
Restrictedcash ...................................................................... 11 4
Intangible assets subject to amortization, net of accumulated amortization of $12 and $8 . . . 37
Derivative financial instruments ...................................................... 21
Other .............................................................................. 101 89
Otherlong-termassets .............................................................. $576 $693
See Note 3 of Notes to Consolidated Financial Statements for goodwill, the trade name, and intangible assets
subject to amortization.
Both the cost and accumulated amortization of lease rights and key money are impacted by fluctuations in foreign
currency rates. Amortization expense associated with lease rights and key money was $5 million, $6 million, and $8
million in fiscal 2010, 2009, and 2008, respectively.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consist of the following:
($ in millions) January 29,
2011 January 30,
2010
Accrued compensation and benefits ................................................... $280 $ 340
Unredeemed gift cards, gift certificates, and credit vouchers, net of breakage .............. 233 244
Short-term deferred rent and tenant allowances ....................................... 99 105
Workers’ compensation liability ....................................................... 50 46
Derivative financial instruments ...................................................... 35 27
Accruedadvertising ................................................................. 25 29
General insurance liability ............................................................ 22 23
Sales return allowance ............................................................... 22 22
Credit card reward certificates liability ................................................. 17 16
Other .............................................................................. 213 211
Accrued expenses and other current liabilities .......................................... $996 $1,063
No other individual items accounted for greater than five percent of total current liabilities as of January 29, 2011 or
January 30, 2010.
Lease Incentives and Other Long-Term Liabilities
Lease incentives and other long-term liabilities consist of the following:
($ in millions) January 29,
2011 January 30,
2010
Long-term deferred rent and tenant allowances ........................................ $717 $716
Long-term tax-related liabilities ....................................................... 100 181
Asset retirement obligations ......................................................... 37 33
Deferred compensation plan liabilities ................................................. 27 22
Derivative financial instruments ...................................................... 2—
Other .............................................................................. 711
Lease incentives and other long-term liabilities ......................................... $890 $963
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