Coach 2005 Annual Report Download - page 3

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In our opinion, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan as of June 30, 2006
and 2005, and the changes in net assets available for benefits for the year
ended June 30, 2006, in conformity with accounting principles generally accepted
in the United States of America.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets (held
at end of year) as of June 30, 2006, is presented for the purpose of additional
analysis and is not a required part of the basic financial statements, but is
supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. This schedule is the responsibility of the Plan's
management. Such schedule has been subjected to the auditing procedures applied
in our audit of the basic 2006 financial statements and, in our opinion, is
fairly stated in all material respects when considered in relation to the basic
financial statements taken as a whole.
/s/ Deloitte & Touche LLP
New York, New York
December 15, 2006
3
Coach, Inc. Savings and Profit Sharing Plan
Statements of Net Assets Available for Benefits
June 30, 2006 June 30, 2005
------------- -------------
Assets:
Investments, at fair value:
Fidelity Management Trust Company:
Common and collective trust fund $ 12,783,697 $ 10,723,967
Mutual funds 56,125,201 42,686,357
Coach, Inc. common stock 26,829,676 30,532,454
Participant loans receivable 1,479,347 1,365,816
------------- -------------
Total investments, at fair value 97,217,921 85,308,594
------------- -------------
Receivables:
Participant contributions - 101,580
Employer contributions 4,107,469 5,382,545
------------- -------------
Total receivables 4,107,469 5,484,125
------------- -------------
Total assets 101,325,390 90,792,719
Liabilities:
Administrative expenses payable - 25,364
------------- -------------
Net assets available for benefits $ 101,325,390 $ 90,767,355
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