Pier 1 2008 Annual Report Download - page 46
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NOTE 4 — PROPERTIES
Properties are summarized as follows at March 1, 2008 and March 3, 2007 (in thousands):
2008 2007
Land ...................................................... $ 6,379 $ 7,849
Buildings .................................................. 29,621 31,463
Equipment, furniture and fixtures ................................. 246,803 256,464
Leasehold improvements ....................................... 167,542 179,478
Computer software ........................................... 73,175 72,010
Projects in progress ........................................... 41 1,557
523,561 548,821
Less accumulated depreciation and amortization ...................... 408,609 394,460
Properties, net ............................................. $114,952 $154,361
NOTE 5 — OTHER ACCRUED LIABILITIES AND NONCURRENT LIABILITIES
The following is a summary of other accrued liabilities and noncurrent liabilities at March 1, 2008 and
March 3, 2007 (in thousands):
2008 2007
Accrued payroll and other employee-related liabilities . . ............... $ 46,416 $ 40,610
Accrued taxes, other than income ................................ 24,030 26,035
Rent-related liabilities ......................................... 11,017 10,875
Retirement benefits ........................................... 1,351 16,358
Other ..................................................... 19,003 25,663
Other accrued liabilities ...................................... $101,817 $119,541
Rent-related liabilities ......................................... $ 34,887 $ 40,552
Deferred gains .............................................. 19,634 23,053
Retirement benefits ........................................... 24,276 21,857
Other ..................................................... 15,361 1,306
Other noncurrent liabilities.................................... $ 94,158 $ 86,768
44
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)