Restoration Hardware 2014 Annual Report Download - page 96
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The following table sets forth the remaining amortization of the intangible assets based on a straight-line
method of amortization over the respective useful lives as of January 31, 2015 (in thousands):
2015 $116
2016 76
2017 39
2018 20
2019 20
Thereafter 80
Total amortization $351
NOTE 7—ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accounts payable and accrued expenses consist of the following (in thousands):
January 31,
2015
February 1,
2014
Accounts payable $133,063 $116,306
Accrued compensation 35,942 29,498
Accrued freight and duty 22,747 21,309
Accrued sales taxes 21,240 13,995
Accrued occupancy 7,530 6,306
Accrued catalog costs 4,582 7,663
Accrued legal settlements 4,309 6,970
Accrued professional fees 2,319 3,119
Other accrued expenses 3,427 1,612
Total accounts payable and accrued expenses $235,159 $206,778
Accounts payable included negative cash balances due to outstanding checks of $17.5 million and $25.5
million as of January 31, 2015, and February 1, 2014, respectively.
Other current liabilities consist of the following (in thousands):
January 31,
2015
February 1,
2014
Unredeemed gift card and merchandise credit liability $23,004 $18,830
Allowance for sales returns 10,235 12,142
Federal, state and foreign tax payable 1,509 22,254
Capital lease obligation—current 255 1,807
Other liabilities 584 1,897
Total other current liabilities $35,587 $56,930
NOTE 8—OTHER NON-CURRENT OBLIGATIONS
Other non-current obligations consist of the following (in thousands):
January 31,
2015
February 1,
2014
Notes payable for share repurchases $19,285 $2,710
Capital lease obligation—non-current 7,487 389
Unrecognized tax benefits 1,108 1,739
Other non-current obligations 1,064 1,228
Total other non-current obligations $28,944 $6,066
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