Pier 1 2008 Annual Report Download - page 53
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CONSOLIDATING CONDENSED BALANCE SHEET
March 1, 2008
(In thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Total
ASSETS
Current assets:
Cash and cash equivalents......... $ 53,030 $ 26,824 $ 13,579 $ — $ 93,433
Other accounts receivable, net...... 5 21,607 1,509 — 23,121
Inventories .................... — 411,709 — — 411,709
Income tax receivable ............ — 13,251 381 — 13,632
Office building held for sale ....... — 80,539 — — 80,539
Prepaid expenses and other current
assets ...................... 78 41,367 — — 41,445
Total current assets ............ 53,113 595,297 15,469 — 663,879
Properties, net ................... — 111,112 3,840 — 114,952
Investment in subsidiaries ........... 145,555 43,354 — (188,909) —
Other noncurrent assets ............ 6,588 36,485 — — 43,073
$ 205,256 $786,248 $ 19,309 $(188,909) $821,904
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable ............... $ 126 $104,900 $ 1,058 $ — $106,084
Intercompany payable (receivable) . . (228,310) 253,339 (25,029) — —
Gift cards and other deferred
revenue .................... — 63,101 — — 63,101
Accrued income taxes payable
(receivable).................. 48 5,065 (113) — 5,000
Other accrued liabilities .......... 648 101,130 39 — 101,817
Total current liabilities ......... (227,488) 527,535 (24,045) — 276,002
Long-term debt .................. 165,000 19,000 — — 184,000
Other noncurrent liabilities .......... — 94,158 — — 94,158
Shareholders’ equity ............... 267,744 145,555 43,354 (188,909) 267,744
$ 205,256 $786,248 $ 19,309 $(188,909) $821,904
51
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)