The Gap 2011 Annual Report Download - page 66

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Lease Incentives and Other Long-Term Liabilities
Lease incentives and other long-term liabilities consist of the following:
($ in millions) January 28,
2012 January 29,
2011
Long-term deferred rent and tenant allowances ........................................ $705 $717
Long-term income tax-related liabilities ............................................... 129 90
Asset retirement obligations .......................................................... 47 37
Deferred compensation plan liabilities ................................................. 22 27
Long-termleaselossreserve .......................................................... 44
Derivative financial instruments ...................................................... —2
Other .............................................................................. 26 13
Lease incentives and other long-term liabilities ......................................... $933 $890
The activity related to asset retirement obligations includes adjustments to the asset retirement obligation
balance and fluctuations in foreign currency rates. The activity was not material for fiscal 2011 or 2010.
Accumulated Other Comprehensive Income
Accumulated OCI consists of the following:
($ in millions) January 28,
2012 January 29,
2011
Foreign currency translation, net of tax ................................................ $229 $205
Accumulated changes in fair value of derivative financial instruments, net of tax .......... — (20)
Accumulated other comprehensive income ............................................ $229 $185
Sales Return Allowance
A summary of activity in the sales return allowance account is as follows:
($ in millions) January 28,
2012 January 29,
2011 January 30,
2010
Balanceatbeginningoffiscalyear.......................................... $22 $22 $21
Additions ................................................................ 634 712 698
Returns .................................................................. (635) (712) (697)
Balanceatendoffiscalyear................................................ $21 $22 $22
Note 3. Goodwill and Intangible Assets
Goodwill and intangible assets consist of the following and are included in other long-term assets in the
Consolidated Balance Sheets:
($ in millions) January 28,
2012 January 29,
2011
Goodwill ........................................................................... $99 $99
Tradename......................................................................... $54 $54
Intangible assets subject to amortization .............................................. $15 $15
Less: Accumulated amortization ...................................................... (14) (12)
Intangible assets subject to amortization, net .......................................... $1 $3
52 Gap Inc. Form 10-K