Pier 1 2012 Annual Report Download - page 42

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Pier 1 Imports, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands except share amounts)
February 25,
2012
February 26,
2011
ASSETS
Current assets:
Cash and cash equivalents, including temporary investments
of $248,624 and $261,274, respectively $ 287,868 $ 301,471
Accounts receivable, net of allowance for
doubtful accounts of $502 and $688, respectively 16,282 14,814
Inventories 322,482 311,770
Income tax receivable 134 1,043
Prepaid expenses and other current assets 23,548 22,871
Total current assets 650,314 651,969
Properties, net 103,640 64,773
Other noncurrent assets 69,409 26,835
$ 823,363 $ 743,577
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 63,827 $ 57,421
Gift cards and other deferred revenue 53,123 71,963
Accrued income taxes payable 16,759 232
Other accrued liabilities 111,679 106,739
Total current liabilities 245,388 236,355
Long-term debt 9,500 9,500
Other noncurrent liabilities 74,832 84,870
Shareholders’ equity:
Common stock, $0.001 par, 500,000,000 shares authorized
125,232,000 issued 125 125
Paid-in capital 231,919 243,051
Retained earnings 462,751 293,813
Cumulative other comprehensive loss (4,473) (784)
Less - 15,512,000 and 7,748,000 common shares in
treasury, at cost, respectively (196,679) (123,353)
493,643 412,852
Commitments and contingencies - -
$ 823,363 $ 743,577
The accompanying notes are an integral part of these financial statements.
34