Express 2011 Annual Report Download - page 91
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EXPRESS, INC.
CONDENSED CONSOLIDATING BALANCE SHEET
(Amounts in thousands)
January 29, 2011
Express, Inc.
Subsidiary
Issuers
Guarantor
Subsidiaries
Other
Subsidiaries Eliminations
Consolidated
Total
Assets
Current assets
Cash and cash equivalents ..... $ 1,647 $186,115 $ — $ — $ — $187,762
Receivables, net ............. — 9,908 — — — 9,908
Inventories ................. — 185,209 — — — 185,209
Prepaid minimum rent ........ — 22,284 — — — 22,284
Intercompany receivable ...... — — 26,029 311 (26,340) —
Other ..................... — 22,130 — — — 22,130
Total current assets .................. 1,647 425,646 26,029 311 (26,340) 427,293
Property and equipment, net ........... — 211,319 — — — 211,319
Tradename/domain name .............. — 197,414 — — — 197,414
Investment in subsidiary .............. 127,260 3,147 — 121,757 (252,164) —
Deferred tax asset .................... 968 3,652 — 893 — 5,513
Other assets ........................ — 21,210 — — — 21,210
Total assets ......................... $129,875 $862,388 $26,029 $122,961 $(278,504) $862,749
Liabilities and stockholders’ equity
Current liabilities
Accounts payable ............ $ — $ 85,843 $ — $ — $ — $ 85,843
Deferred revenue ............ — 2,185 22,882 — — 25,067
Accrued bonus .............. — 14,268 — — — 14,268
Accrued expenses ............ (444) 96,535 — (4,299) — 91,792
Accounts payable and accrued
expenses—related parties . . . — 79,865 — — — 79,865
Intercompany payable ........ — 26,340 — — (26,340) —
Total current liabilities ................ (444) 305,036 22,882 (4,299) (26,340) 296,835
Long-term debt ...................... — 366,157 — — — 366,157
Other long-term liabilities ............. 157 69,438 — — — 69,595
Total liabilities ...................... (287) 740,631 22,882 (4,299) (26,340) 732,587
Commitments and Contingencies
(Note 15)
Total stockholders’ equity ............. 130,162 121,757 3,147 127,260 (252,164) 130,162
Total liabilities and stockholders’
equity ........................... $129,875 $862,388 $26,029 $122,961 $(278,504) $862,749
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