DSW 2015 Annual Report Download - page 65

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Table of Contents

The balance sheet caption "Property and equipment, net" was comprised of the following as of the periods presented:
January 30, 2016
January 31, 2015
(in thousands)
Land
$ 1,110
$ 1,110
Furniture, fixtures and equipment
506,347
437,745
Buildings, building and leasehold improvements
385,861
353,283
Total property and equipment
$ 893,318
$ 792,138
Accumulated depreciation and amortization
(519,077)
(454,235)
Property and equipment, net
$ 374,241
$ 337,903

The balance sheet caption "Accrued expenses" was comprised of the following as of the periods presented:
January 30, 2016
January 31, 2015
(in thousands)
Gift cards and merchandise credits
$ 43,446
$ 40,313
Compensation
8,042
11,317
Taxes
17,004
16,798
Customer loyalty program
10,084
14,788
Other(1)
29,224
29,964
Total accrued expenses
$ 107,800
$ 113,180
(1) Other is comprised of deferred revenue, guarantees, sales return allowance, stock appreciation rights (as of January 30, 2016), advertising expenses,
professional fees, rent and other various accrued expenses.

The balance sheet caption "Non-current liabilities" was comprised of the following as of the periods presented:
January 30, 2016
January 31, 2015
(in thousands)
Construction and tenant allowances
$ 86,777
$ 85,244
Deferred rent
37,650
38,021
Other(1)
16,332
20,068
Total non-current liabilities
$ 140,759
$ 143,333
(1) Other is comprised of a reserve for a lease of an office facility assumed in the merger with Retail Ventures, Inc. ("RVI"), income tax reserves and deferred
compensation. During the first quarter of fiscal 2015, the Company adjusted its assumptions related to the reserve for a lease of an office facility for future real
estate taxes, sublease rental payments and executory costs. As of January 30, 2016, the accrual related to the office facility was $8.3 million.
 
The Company leases stores, its fulfillment center and other facilities under various arrangements with related and unrelated parties. Such leases expire
through 2028 and, in most cases, provide for renewal options. Generally, the Company is required to pay base rent, real estate taxes, maintenance, insurance
and contingent rentals based on sales in excess of specified levels. Under supply agreements, the Company pays contingent rent based on sales for the shoe
departments it operates through ABG. As of January 30, 2016 and January 31, 2015, the Company had no capital leases of real estate.
F- 26
Source: DSW Inc., 10-K, March 24, 2016 Powered by Morningstar® Document Research℠
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