Pier 1 2014 Annual Report Download - page 17

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ITEM 2. PROPERTIES.
Item 2. Properties.
The Company leases its corporate headquarters, retail stores and the majority of its distribution centers. The Company has an
operating lease for its corporate headquarters located in Fort Worth, Texas, which included approximately 313,000 square feet of
office space as of March 1, 2014. The present value of the Company’s minimum future operating lease commitments,
discounted at 10%, totaled approximately $878.3 million as of March 1, 2014. The following table sets forth the distribution of
Pier 1 Imports’ U.S. and Canadian stores by state and province as of March 1, 2014:
United States
Alabama 13 Louisiana 15 Ohio 29
Alaska 2 Maine 2 Oklahoma 8
Arizona 24 Maryland 22 Oregon 14
Arkansas 8 Massachusetts 23 Pennsylvania 38
California 113 Michigan 33 Rhode Island 3
Colorado 15 Minnesota 18 South Carolina 16
Connecticut 20 Mississippi 6 South Dakota 2
Delaware 4 Missouri 19 Tennessee 19
Florida 74 Montana 6 Texas 80
Georgia 28 Nebraska 4 Utah 9
Hawaii 5 Nevada 9 Virginia 35
Idaho 6 New Hampshire 6 Washington 28
Illinois 38 New Jersey 35 West Virginia 5
Indiana 17 New Mexico 5 Wisconsin 19
Iowa 9 New York 49 Wyoming 1
Kansas 8 North Carolina 35
Kentucky 11 North Dakota 3
Canada
Alberta 12 New Brunswick 2 Ontario 33
British Columbia 14 Newfoundland 1 Quebec 13
Manitoba 2 Nova Scotia 2 Saskatchewan 2
The Company currently owns or leases distribution center space of approximately 4.1 million square feet. The Company also
acquires temporary distribution center space from time to time through short-term leases. As of March 1, 2014, the Company
owned or leased under operating leases the following distribution center properties, which include fulfillment centers in or near
the following cities:
Location Approx. Sq. Ft. Owned/Leased
Facility
Baltimore, Maryland 983,000 sq. ft. Leased
Columbus, Ohio 718,000 sq. ft. Leased
Fort Worth, Texas 460,000 sq. ft. Owned
Ontario, California 747,000 sq. ft. Leased
Savannah, Georgia 784,000 sq. ft. Leased
Tacoma, Washington 451,000 sq. ft. Leased
PIER 1 IMPORTS, INC. 2014 Form 10-K 13