Express 2010 Annual Report Download - page 74
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EXPRESS, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands, Except Per Share Amounts)
January 29, 2011 January 30, 2010
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ...................................... $187,762 $ 234,404
Receivables, net .............................................. 9,908 4,377
Inventories .................................................. 185,209 171,704
Prepaid minimum rent ......................................... 22,284 20,874
Other ....................................................... 22,130 5,289
Total current assets ........................................ 427,293 436,648
PROPERTY AND EQUIPMENT .................................... 448,109 395,951
Less: accumulated depreciation .................................. (236,790) (180,714)
Property and equipment, net ..................................... 211,319 215,237
TRADENAME/DOMAIN NAME .................................... 197,414 197,414
DEFERRED TAX ASSETS ......................................... 5,513 —
OTHER ASSETS ................................................. 21,210 20,255
Total assets .............................................. $862,749 $ 869,554
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ............................................. $ 85,843 $ 61,093
Deferred revenue ............................................. 25,067 22,247
Accrued bonus ............................................... 14,268 22,541
Accrued expenses ............................................. 91,792 73,576
Accounts payable and accrued expenses – related parties .............. 79,865 89,831
Total current liabilities ..................................... 296,835 269,288
LONG-TERM DEBT .............................................. 366,157 415,513
OTHER LONG-TERM LIABILITIES ................................ 69,595 43,300
Total liabilities ........................................... 732,587 728,101
COMMITMENTS AND CONTINGENCIES (Note 14)
STOCKHOLDERS’ EQUITY (Notes 1 and 11):
Preferred stock – $0.01 par value; 10,000 shares authorized; no shares
issued or outstanding ........................................ — —
Common stock – $0.01 par value; 500,000 shares authorized; 88,736
issued and 88,696 outstanding at January 29, 2011 and 78,246 shares
issued and outstanding at January 30, 2010 ....................... 887 782
Additional paid-in capital ....................................... 77,318 140,432
Retained earnings ............................................. 51,957 5,872
Treasury stock – at average cost; 40 shares at January 29, 2011; no shares
at January 30, 2010 .......................................... — —
Notes receivable .............................................. — (5,633)
Total stockholders’ equity .................................. 130,162 141,453
Total liabilities and stockholders’ equity ....................... $862,749 $ 869,554
See notes to consolidated financial statements.
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