Pier 1 2010 Annual Report Download - page 60

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
CONSOLIDATING CONDENSED BALANCE SHEET
February 27, 2010
(in thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Total
ASSETS
Current assets:
Cash and cash equivalents $ 38,433 $ 147,233 $ 2,246 $ - $ 187,912
Accounts receivable, net - 13,011 1,690 - 14,701
Inventories - 313,496 - - 313,496
Income tax receivable - 79 482 - 561
Prepaid expenses and other current assets 97 37,060 - - 37,157
Total current assets 38,530 510,879 4,418 - 553,827
Properties, net - 52,204 3,633 - 55,837
Investment in subsidiaries 69,750 16,985 - (86,735) -
Other noncurrent assets 3,548 29,762 - - 33,310
$ 111,828 $ 609,830 $ 8,051 $ (86,735) $ 642,974
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 223 $ 65,081 $ 40 $ - $ 65,344
Intercompany payable (receivable) (207,865) 217,029 (9,164) - -
Current portion of convertible debt 16,435 - - - 16,435
Gift cards and other deferred revenue - 44,356 - - 44,356
Accrued income taxes payable
(receivable) - 5,001 (34) - 4,967
Other accrued liabilities (99) 105,948 224 - 106,073
Total current liabilities (191,306) 437,415 (8,934) - 237,175
Long-term debt - 19,000 - - 19,000
Other noncurrent liabilities - 83,665 - - 83,665
Shareholders’ equity 303,134 69,750 16,985 (86,735) 303,134
$ 111,828 $ 609,830 $ 8,051 $ (86,735) $ 642,974
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