Pier 1 2010 Annual Report Download - page 44
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Pier 1 Imports, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands except share amounts)
February 27,
2010
February 28,
2009
ASSETS
Current assets:
Cash and cash equivalents, including temporary investments
of $176,503 and $142,523, respectively $ 187,912 $ 155,798
Accounts receivable, net of allowance for
doubtful accounts of $2,516 and $1,579, respectively 14,701 17,566
Inventories 313,496 316,331
Income tax receivable 561 2,149
Prepaid expenses and other current assets 37,157 41,883
Total current assets 553,827 533,727
Properties, net 55,837 85,135
Other noncurrent assets 33,310 36,600
$ 642,974 $ 655,462
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 65,344 $ 80,695
Current portion convertible debt 16,435 -
Gift cards and other deferred revenue 44,356 47,332
Accrued income taxes payable 4,967 4,434
Other accrued liabilities 106,073 101,350
Total current liabilities 237,175 233,811
Long-term debt 19,000 184,000
Other noncurrent liabilities 83,665 93,390
Shareholders’ equity:
Common stock, $0.001 par, 500,000,000 shares authorized
125,232,000 and 100,779,000 issued, respectively 125 101
Paid-in capital 264,477 214,004
Retained earnings 193,688 106,841
Cumulative other comprehensive loss (699) (1,195)
Less - 9,645,000 and 10,905,000 common shares in
treasury, at cost, respectively (154,457) (175,490)
303,134 144,261
Commitments and contingencies - -
$ 642,974 $ 655,462
The accompanying notes are an integral part of these financial statements.
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