The Gap 2009 Annual Report Download - page 65

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Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consist of the following:
($ in millions) January 30,
2010 January 31,
2009
Accrued compensation and benefits ................................................... $ 340 $ 327
Unredeemed gift cards, gift certificates, and credit vouchers, net of breakage .............. 244 255
Short-term deferred rent and tenant allowances ........................................ 105 105
Workers’ compensation liability ....................................................... 46 39
Accruedadvertising .................................................................. 29 15
Derivative financial instruments ....................................................... 27 41
General insurance liability ............................................................ 23 25
Sales return allowance ............................................................... 22 21
Credit card reward certificates liability ................................................. 16 16
Other ............................................................................... 211 232
Accrued expenses and other current liabilities .......................................... $1,063 $1,076
No other individual items accounted for greater than five percent of total current liabilities as of January 30, 2010
or January 31, 2009.
Lease Incentives and Other Long-Term Liabilities
Lease incentives and other long-term liabilities consist of the following:
($ in millions) January 30,
2010 January 31,
2009
Long-term deferred rent and tenant allowances ........................................ $716 $ 772
Long-term tax-related liabilities ....................................................... 181 174
Asset retirement obligations .......................................................... 33 33
Deferred compensation plan liabilities ................................................. 22 18
Derivative financial instruments ....................................................... —11
Other ............................................................................... 11 11
Lease incentives and other long-term liabilities ......................................... $963 $1,019
The activity related to asset retirement obligations includes adjustments to the asset retirement obligation
balance and fluctuations in foreign currency rates. The activity was not material for fiscal 2009 or 2008.
Accumulated Other Comprehensive Income
Accumulated OCI consists of the following:
($ in millions) January 30,
2010 January 31,
2009
Foreign currency translation .......................................................... $168 $109
Accumulated changes in fair value of derivative financial instruments, net of tax ........... (13) 14
Accumulated other comprehensive income ............................................. $155 $123
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