Express 2011 Annual Report Download - page 90
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EXPRESS, INC.
CONDENSED CONSOLIDATING BALANCE SHEET
(Amounts in thousands)
January 28, 2012
Express, Inc.
Subsidiary
Issuers
Guarantor
Subsidiaries
Other
Subsidiaries Eliminations
Consolidated
Total
Assets
Current assets
Cash and cash equivalents ..... $ 1,575 $149,237 $ — $ 1,550 $ — $152,362
Receivables, net ............. — 7,439 — 1,588 — 9,027
Inventories ................. — 206,507 — 2,447 — 208,954
Prepaid minimum rent ........ — 22,985 — 476 — 23,461
Intercompany loan receivable . . — 12,684 — — (12,684) —
Intercompany receivable ...... — — 26,570 5,862 (32,432) —
Other ..................... — 18,228 — 4 — 18,232
Total current assets .................. 1,575 417,080 26,570 11,927 (45,116) 412,036
Property and equipment, net ........... — 218,701 — 8,605 — 227,306
Tradename/domain name .............. — 197,509 — — — 197,509
Investment in subsidiary .............. 277,920 127 — 272,135 (550,182) —
Deferred tax asset .................... 852 11,610 — — — 12,462
Other assets ........................ — 12,882 — 4 — 12,886
Total assets ......................... $280,347 $857,909 $26,570 $292,671 $(595,298) $862,199
Liabilities and stockholders’ equity
Current liabilities
Accounts payable ............ $ — $133,061 $ — $ 618 $ — $133,679
Deferred revenue ............ — 4,493 23,141 50 — 27,684
Accrued bonus .............. — 14,671 — 18 — 14,689
Accrued expenses ............ (800) 108,422 — 1,539 — 109,161
Accounts payable and accrued
expenses—related parties . . . — 5,997 — — — 5,997
Intercompany payable ........ — 32,432 — — (32,432) —
Intercompany loan payable .... — — — 12,684 (12,684) —
Total current liabilities ................ (800) 299,076 23,141 14,909 (45,116) 291,210
Long-term debt ...................... — 198,539 — — — 198,539
Other long-term liabilities ............. — 88,159 — 3,144 — 91,303
Total liabilities ...................... (800) 585,774 23,141 18,053 (45,116) 581,052
Commitments and Contingencies
(Note 15)
Total stockholders’ equity ............. 281,147 272,135 3,429 274,618 (550,182) 281,147
Total liabilities and stockholders’
equity ........................... $280,347 $857,909 $26,570 $292,671 $(595,298) $862,199
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