Pier 1 2010 Annual Report Download - page 61

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
CONSOLIDATING CONDENSED BALANCE SHEET
February 28, 2009
(in thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Total
ASSETS
Current assets:
Cash and cash equivalents $ 61,648 $ 62,399 $ 31,751 $ - $ 155,798
Accounts receivable, net 2 15,684 1,880 - 17,566
Inventories - 316,245 86 - 316,331
Income tax receivable - 1,667 482 - 2,149
Prepaid expenses and other current assets 100 41,783 - - 41,883
Total current assets 61,750 437,778 34,199 - 533,727
Properties, net - 81,398 3,737 - 85,135
Investment in subsidiaries 16,125 45,262 - (61,387) -
Other noncurrent assets 5,525 31,075 - - 36,600
$ 83,400 $ 595,513 $ 37,936 $ (61,387) $ 655,462
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 116 $ 80,288 $ 291 $ - $ 80,695
Intercompany payable (receivable) (226,635) 234,163 (7,528) - -
Gift cards and other deferred revenue - 47,332 - - 47,332
Accrued income taxes payable
(receivable) 48 4,553 (167) - 4,434
Other accrued liabilities 610 100,662 78 - 101,350
Total current liabilities (225,861) 466,998 (7,326) - 233,811
Long-term debt 165,000 19,000 - - 184,000
Other noncurrent liabilities - 93,390 - - 93,390
Shareholders’ equity 144,261 16,125 45,262 (61,387) 144,261
$ 83,400 $ 595,513 $ 37,936 $ (61,387) $ 655,462
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