Pier 1 2009 Annual Report Download - page 67
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 6—CONDENSED FINANCIAL STATEMENTS (Continued)
CONSOLIDATING CONDENSED BALANCE SHEET
March 1, 2008
(in thousands)
Non-
Pier 1 Guarantor Guarantor
Imports, Inc. Subsidiaries 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
Prepaid expenses and other current
assets ....................... 78 41,367 — — 41,445
Total current assets ............. 53,113 514,758 15,469 — 583,340
Office building and related assets ...... — 80,539 — — 80,539
Other 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
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