Pier 1 2016 Annual Report Download - page 43
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CONSOLIDATED BALANCE SHEETS
Pier 1 Imports, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands except share amounts)
February 27,
2016 February 28,
2015
ASSETS
Current assets:
Cash and cash equivalents, including temporary investments of $110,413 and $69,572, respectively $ 115,221 $ 100,064
Accounts receivable, net of allowance for doubtful accounts of $428 and $396, respectively 22,639 29,405
Inventories 405,859 478,843
Prepaid expenses and other current assets 31,175 45,273
Total current assets 574,894 653,585
Properties and equipment, net 207,633 214,048
Other noncurrent assets 36,664 39,251
$ 819,191 $ 906,884
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 72,570 $ 102,762
Gift cards and other deferred revenue 64,081 63,002
Accrued income taxes payable 6,324 13,505
Current portion of long-term debt 2,000 2,000
Other accrued liabilities 101,712 106,781
Total current liabilities 246,687 288,050
Long-term debt 200,255 201,426
Other noncurrent liabilities 87,492 80,141
Commitments and contingencies
Shareholders’ equity:
Common stock, $0.001 par, 500,000,000 shares authorized 125,232,000 issued 125 125
Paid-in capital 211,019 222,438
Retained earnings 729,537 713,575
Cumulative other comprehensive loss (10,637) (9,985)
Less—41,760,000 and 35,320,000 common shares in treasury, at cost, respectively (645,287) (588,886)
Total shareholders’ equity 284,757 337,267
$ 819,191 $ 906,884
The accompanying notes are an integral part of these financial statements.
PIER 1 IMPORTS, INC. 2016 Form 10-K 37