Pier 1 2011 Annual Report Download - page 43

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Pier 1 Imports, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands except share amounts)
February 26,
2011
February 27,
2010
ASSETS
Current assets:
Cash and cash equivalents, including temporary investments
of $261,274 and $176,503, respectively $ 301,471 $ 187,912
Accounts receivable, net of allowance for
doubtful accounts of $688 and $2,516, respectively 14,814 14,701
Inventories 311,770 313,496
Income tax receivable 1,043 561
Prepaid expenses and other current assets 22,871 37,157
Total current assets 651,969 553,827
Properties, net 64,773 55,837
Other noncurrent assets 26,835 33,310
$ 743,577 $ 642,974
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 57,421 $ 65,344
Current portion long-term debt - 16,435
Gift cards and other deferred revenue 71,963 44,356
Accrued income taxes payable 232 4,967
Other accrued liabilities 106,739 106,073
Total current liabilities 236,355 237,175
Long-term debt 9,500 19,000
Other noncurrent liabilities 84,870 83,665
Shareholders’ equity:
Common stock, $0.001 par, 500,000,000 shares authorized
125,232,000 issued 125 125
Paid-in capital 243,051 264,477
Retained earnings 293,813 193,688
Cumulative other comprehensive loss (784) (699)
Less - 7,748,000 and 9,645,000 common shares in
treasury, at cost, respectively (123,353) (154,457)
412,852 303,134
Commitments and contingencies - -
$ 743,577 $ 642,974
The accompanying notes are an integral part of these financial statements.
37