Pier 1 2009 Annual Report Download - page 66
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 6—CONDENSED FINANCIAL STATEMENTS (Continued)
CONSOLIDATING CONDENSED BALANCE SHEET
February 28, 2009
(in thousands)
Non-
Pier 1 Guarantor Guarantor
Imports, Inc. Subsidiaries Subsidiaries Eliminations Total
ASSETS
Current assets:
Cash and cash equivalents ......... $ 61,648 $ 62,399 $31,751 $ — $155,798
Other accounts receivable, net ...... 2 15,684 1,880 — 17,566
Inventories .................... — 316,245 86 — 316,331
Income tax receivable ............. — 1,667 482 — 2,149
Prepaid expenses and other current
assets ....................... 100 41,783 — — 41,883
Total current assets ............. 61,750 437,778 34,199 — 533,727
Other properties, net ............... — 81,398 3,737 — 85,135
Investment in subsidiaries ........... 16,125 45,262 — (61,387) —
Other noncurrent assets ............. 5,525 31,075 — — 36,600
$ 83,400 $595,513 $37,936 $(61,387) $655,462
LIABILITIES AND SHAREHOLDERS’
EQUITY
Current liabilities:
Accounts payable ................ $ 116 $ 80,288 $ 291 $ — $ 80,695
Intercompany payable (receivable) . . . (226,635) 234,163 (7,528) — —
Gift cards and other deferred revenue . — 47,332 — — 47,332
Accrued income taxes payable
(receivable) .................. 48 4,553 (167) — 4,434
Other accrued liabilities ........... 610 100,662 78 — 101,350
Total current liabilities .......... (225,861) 466,998 (7,326) — 233,811
Long-term debt ................... 165,000 19,000 — — 184,000
Other noncurrent liabilities .......... — 93,390 — — 93,390
Shareholders’ equity ............... 144,261 16,125 45,262 (61,387) 144,261
$ 83,400 $595,513 $37,936 $(61,387) $655,462
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