Cabela's 2011 Annual Report Download - page 95
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85
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
and 2009, respectively, which have been included in impairment and restructuring charges in the consolidated
statements of income. At the end of 2010, none of the securities with a fair value below carrying value were deemed
to have other than a temporary impairment.
Interest earned on the securities totaled $6,143, $6,256, and $6,988, for 2011, 2010, and 2009, respectively.
Interest earned on the asset-backed securities totaled $5,453 in 2009 and is a component of Financial Services
revenue. There were no realized gains or losses on these securities in 2011, 2010, or 2009.
8. PREPAID EXPENSES AND OTHER ASSETS
Prepaid expenses and other assets (current and long-term) consisted of the following at the years ended:
2011 2010
Prepaid expenses and other current assets:
Deferred catalog costs $ 13,235 $ 18,694
Interest and notes receivable 14,825 12,163
Financial Services - Visa interchange funding 59,392 42,203
Financial Services - accrued interest and other receivables 34,822 32,839
Other 24,205 17,405
$ 146,479 $ 123,304
Other assets:
Goodwill $ 3,450 $ 3,519
Intangible assets, net 952 1,823
Financial Services - deferred financing and new account costs 9,962 8,382
Long-term notes and other receivables 8,082 7,965
Held to maturity investments 2,680 2,065
Other 5,509 4,584
$ 30,635 $ 28,338
9. ACCRUED EXPENSES
Accrued expenses consisted of the following at the years ended:
2011 2010
Accrued employee compensation and benefits $ 57,850 $ 55,368
Accrued property, sales, and other taxes 25,383 21,865
Deferred revenue and accrued sales returns 25,951 25,230
Accrued interest 9,007 9,513
Accrued credit card fees 5,675 6,318
Other 19,829 20,216
$ 143,695 $ 138,510