Coach 2011 Annual Report Download - page 77

TABLE OF CONTENTS
COACH, INC.
Notes to Consolidated Financial Statements (Continued)
(dollars and shares in thousands, except per share data)
16. SUPPLEMENTAL BALANCE SHEET INFORMATION
The components of certain balance sheet accounts are as follows:
June 30, 2012 July 2, 2011
Property and equipment
Land and building $ 168,550 $ 168,550
Machinery and equipment 34,056 32,298
Furniture and fixtures 490,892 394,588
Leasehold improvements 618,583 552,855
Construction in progress 19,774 17,568
Less: accumulated depreciation (687,406) (583,511)
Total property and equipment, net $ 644,449 $ 582,348
Accrued liabilities
Payroll and employee benefits $ 184,918 $ 177,412
Accrued rent 37,834 34,833
Dividends payable 85,796 65,260
Operating expenses 231,850 196,105
Total accrued liabilities $ 540,398 $ 473,610
Other liabilities
Deferred lease incentives $ 116,302 $ 116,032
Non-current tax liabilities 155,599 162,060
Tax-related deferred credit (See Note on Income Taxes) 22,520 46,534
Other 97,824 81,544
Total other liabilities $ 392,245 $ 406,170
Accumulated other comprehensive income
Cumulative translation adjustments $ 55,360 $ 59,412
Cumulative effect of adoption of ASC 320-10-35-17,
net of taxes of $628 and $628
(1,072) (1,072)
Unrealized losses on cash flow hedging derivatives,
net of taxes of $576 and $899
(461) (1,465)
ASC 715 adjustment and minimum pension liability,
net of taxes of $2,028 and $1,309
(3,352) (1,964)
Accumulated other comprehensive income $ 50,475 $ 54,911
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