Hibbett Sports 2010 Annual Report Download - page 35

Download and view the complete annual report

Please find page 35 of the 2010 Hibbett Sports annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 66

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66

31
HIBBETT SPORTS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share information)
ASSETS Januar
y
30, 2010 Januar
y
31, 2009
Current Assets:
Cash and cash equivalents 49,691$ 20,650$
Short-term investments - 191
Trade receivables, net 2,693 2,624
Accounts receivable, other 1,936 2,764
Inventories, net 169,394 151,776
Prepaid expenses and other 1,643 3,822
Deferred income taxes, net 6,163 3,938
Total current assets 231,520 185,765
Property and Equipment:
Land and building 245 245
Equipment 48,715 44,171
Equipment under capital lease 345 -
Furniture and fixtures 24,352 23,280
Leasehold improvements 61,908 61,152
Construction in progress 691 2,776
136,256 131,624
Less accumulated depreciation and amortizatio
n
95,172 86,315
Net property and equipment 41,084 45,309
Deferred income taxes, net 3,507 3,481
Other assets, net 593 532
Total Assets 276,704$ 235,087$
LIABILITIES AND STOCKHOLDERS' INVESTMENT
Current Liabilities:
Accounts payable 64,949$ 64,460$
Short-term debt and capital lease obligations 117 -
Accrued income taxes 2,459 -
Accrued payroll expenses 8,012 7,149
Deferred rent 4,915 4,445
Other accrued expenses 3,485 2,656
Total current liabilities 83,937 78,710
Obligations under capital leases 152 -
Deferred rent 14,224 16,543
Deferred income taxes 2,775 2,957
Other liabilities, net 537 302
Total liabilities 101,625 98,512
Stockholders' Investment:
Preferred stock, $.01 par value, 1,000,000 shares authorized,
no shares issue
d
- -
Common stock, $.01 par value, 80,000,000 shares authorized,
36,436,503 and 36,304,735 shares issued at January 30, 2010
and January 31, 2009, respectivel
y
364 363
Paid-in capital 98,107 92,153
Retained earnings 243,552 211,003
Treasury stock, at cost; 7,761,813 shares repurchase
d
at January 30, 2010 and January 31, 2009 (166,944) (166,944)
Total stockholders' investment 175,079 136,575
Total Liabilities and Stockholders' Investment 276,704$ 235,087$
See accompanying notes to consolidated financial statements.