Express 2011 Annual Report Download - page 61
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EXPRESS, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in Thousands, Except Per Share Amounts)
January 28, 2012 January 29, 2011
ASSETS
CURRENT ASSETS:
Cash and cash equivalents ...................................... $152,362 $ 187,762
Receivables, net .............................................. 9,027 9,908
Inventories .................................................. 208,954 185,209
Prepaid minimum rent ......................................... 23,461 22,284
Other ....................................................... 18,232 22,130
Total current assets ........................................ 412,036 427,293
PROPERTY AND EQUIPMENT .................................... 521,860 448,109
Less: accumulated depreciation .................................. (294,554) (236,790)
Property and equipment, net ..................................... 227,306 211,319
TRADENAME/DOMAIN NAME .................................... 197,509 197,414
DEFERRED TAX ASSETS ......................................... 12,462 5,513
OTHER ASSETS ................................................. 12,886 21,210
Total assets .............................................. $862,199 $ 862,749
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable ............................................. $133,679 $ 85,843
Deferred revenue ............................................. 27,684 25,067
Accrued bonus ............................................... 14,689 14,268
Accrued expenses ............................................. 109,161 91,792
Accounts payable and accrued expenses – related parties .............. 5,997 79,865
Total current liabilities ..................................... 291,210 296,835
LONG-TERM DEBT .............................................. 198,539 366,157
OTHER LONG-TERM LIABILITIES ................................ 91,303 69,595
Total liabilities ........................................... 581,052 732,587
COMMITMENTS AND CONTINGENCIES (Note 15)
STOCKHOLDERS’ EQUITY:
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; 88,946 shares
and 88,736 shares issued at January 28, 2012 and January 29, 2011,
respectively, and 88,887 shares and 88,696 shares outstanding at
January 28, 2012 and January 29, 2011, respectively ................ 890 887
Additional paid-in capital ....................................... 87,713 77,318
Accumulated other comprehensive loss ............................ (7) —
Retained earnings ............................................. 192,654 51,957
Treasury stock – at average cost; 59 shares and 40 shares at January 28, 2012
and January 29, 2011, respectively ...............................
(103) —
Total stockholders’ equity .................................. 281,147 130,162
Total liabilities and stockholders’ equity ....................... $862,199 $ 862,749
See notes to consolidated financial statements.
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