Pier 1 2009 Annual Report Download - page 47
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Pier 1 Imports, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands except share amounts)
2009 2008
ASSETS
Current assets:
Cash and cash equivalents, including temporary investments of $142,523
and $87,837, respectively ................................... $155,798 $ 93,433
Other accounts receivable, net of allowance for
doubtful accounts of $1,579 and $1,034, respectively ............... 17,566 23,121
Inventories ............................................... 316,331 411,709
Income tax receivable ....................................... 2,149 13,632
Prepaid expenses and other current assets ........................ 41,883 41,445
Total current assets .................................... 533,727 583,340
Office building and related assets .................................. — 80,539
Other properties, net ........................................... 85,135 114,952
Other noncurrent assets ......................................... 36,600 43,073
$ 655,462 $ 821,904
LIABILITES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable .......................................... $ 80,695 $ 106,084
Gift cards and other deferred revenue ........................... 47,332 63,101
Accrued income taxes payable ................................. 4,434 5,000
Other accrued liabilities ..................................... 101,350 101,817
Total current liabilities ................................. 233,811 276,002
Long-term debt ............................................... 184,000 184,000
Other noncurrent liabilities ...................................... 93,390 94,158
Shareholders’ equity:
Common stock, $1.00 par, 500,000,000 shares authorized, 100,779,000
issued ................................................. 100,779 100,779
Paid-in capital ............................................ 113,326 126,795
Retained earnings .......................................... 106,841 236,094
Cumulative other comprehensive income (loss) .................... (1,195) 373
Less—10,905,000 and 12,172,000 common shares in treasury, at cost,
respectively ............................................. (175,490) (196,297)
144,261 267,744
Commitments and contingencies .................................. — —
$ 655,462 $ 821,904
The accompanying notes are an integral part of these financial statements.
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