Dollar Tree 2008 Annual Report Download - page 38

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36
DOLLAR TREE, INC. • 2008 ANNUAL REPORT
Notes to Consolidated Financial Statements continued
Other Long-Term Liabilities
Other long-term liabilities as of January 31, 2009 and
February 2, 2008 consist of the following:
January 31, February 2,
(in millions) 2009 2008
Deferred Rent $62.3 $ 48.0
Insurance 31.1 29.9
Other 14.5 10.5
Total other long-term liabilities
$107.9 $88.4
Other Current Liabilities
Other current liabilities as of January 31, 2009 and
February 2, 2008 consist of accrued expenses for the
following:
January 31, February 2,
(in millions) 2009 2008
Compensation and benefits $49.9 $ 45.5
Taxes (other than income taxes) 22.3 16.3
Insurance 30.3 27.6
Other 50.0 54.2
Total other current liabilities $152.5 $143.6
NOTE 3 – INCOME TAXES
Total income taxes were allocated as follows:
Year Ended Year Ended Year Ended
January 31, February 2, February 3,
(in millions) 2009 2008 2007
Income from continuing operations $129.6 $118.5 $110.9
Accumulated other comprehensive income, marking derivative
financial instruments to fair value (1.7) ——
Stockholders’ equity, tax benefit on exercise of stock options (2.3) (13.0) (5.6)
$125.6 $105.5 $105.3
The provision for income taxes consists of the following:
Year Ended Year Ended Year Ended
January 31, February 2, February 3,
(in millions) 2009 2008 2007
Federal – current $91.9 $147.5 $116.2
State – current 20.7 17.8 16.6
Total current 112.6 165.3 132.8
Federal – deferred 15.4 (39.4) (19.1)
State – deferred 1.6 (7.4) (2.8)
Total deferred 17.0 (46.8) (21.9)
Provision for income taxes $129.6 $118.5 $110.9
Included in current tax expense for the years ended January 31, 2009 and February 2, 2008, are amounts
related to uncertain tax positions associated with temporary differences, in accordance with FIN 48.