Pier 1 2007 Annual Report Download - page 60
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CONSOLIDATING CONDENSED BALANCE SHEET
March 3, 2007
(In thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Total
ASSETS
Current assets:
Cash and cash equivalents......... $111,163 $ 43,699 $ 12,316 $ — $167,178
Other accounts receivable, net...... 47 20,311 1,079 — 21,437
Inventories .................... — 360,063 — — 360,063
Income tax receivable ............ — 34,708 258 — 34,966
Prepaid expenses and other current
assets ...................... — 50,324 — — 50,324
Total current assets ............ 111,210 509,105 13,653 — 633,968
Properties, net ................... — 233,514 6,034 — 239,548
Investment in subsidiaries........... 248,953 40,629 — (289,582) —
Other noncurrent assets ............ 7,650 35,304 — — 42,954
$ 367,813 $818,552 $ 19,687 $(289,582) $916,470
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable ............... $ 45 $ 93,889 $ 1,675 $ — $ 95,609
Intercompany payable (receivable) . . (159,038) 181,316 (22,278) — —
Gift cards and other deferred
revenue .................... — 66,130 — — 66,130
Accrued income taxes payable
(receivable).................. 48 3,610 (353) — 3,305
Other accrued liabilities .......... 641 118,886 14 — 119,541
Total current liabilities ......... (158,304) 463,831 (20,942) — 284,585
Long-term debt .................. 165,000 19,000 — — 184,000
Other noncurrent liabilities .......... — 86,768 — — 86,768
Shareholders’ equity ............... 361,117 248,953 40,629 (289,582) 361,117
$ 367,813 $818,552 $ 19,687 $(289,582) $916,470
58
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)