Coach 2012 Annual Report Download - page 77
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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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