Rue 21 2011 Annual Report Download - page 42

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rue21, inc.
Consolidated Balance Sheets
January 28,
2012
January 29,
2011
(in thousands, except per share data)
Assets
Current assets:
Cash and cash equivalents ............................................. $ 41,960 $ 50,111
Short term investments ............................................... 30,000 —
Accounts receivable .................................................. 6,675 6,285
Merchandise inventory, net ............................................ 131,136 96,051
Prepaid expenses and other current assets ................................. 14,338 10,580
Deferred tax assets ................................................... 5,121 5,024
Total current assets .................................................. 229,230 168,051
Property and equipment, net ........................................... 117,798 91,371
Other assets ........................................................ 994 921
Total assets ......................................................... $348,022 $260,343
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable .................................................... $103,914 $ 81,627
Accrued expenses and other current liabilities ............................. 16,570 15,616
Accrued payroll and related taxes ....................................... 12,045 12,053
Deferred rent and tenant allowances, current portion ........................ 8,652 7,033
Accrued income and franchise taxes ..................................... 1,068 1,999
Total current liabilities ................................................ 142,249 118,328
Long-term liabilities:
Deferred rent, tenant allowances and other long-term liabilities ................ 46,965 34,235
Deferred tax liabilities ................................................ 11,585 5,651
Total long-term liabilities ............................................. 58,550 39,886
Commitments and Contingencies — —
Stockholders’ equity:
Preferred stock— par value $0.001 per share, 10,000 shares authorized; none
issued or outstanding ............................................... — —
Common stock— par value $0.001 per share; 200,000 shares authorized; 24,476
and 24,380 shares issued and outstanding, respectively .................... 24 24
Additional paid in capital .............................................. 37,696 31,552
Retained earnings .................................................... 109,503 70,553
Total stockholders’ equity ............................................. 147,223 102,129
Total liabilities and stockholders’ equity .................................. $348,022 $260,343
See accompanying notes to the consolidated financial statements.
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