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Pier 1 Imports Inc (NYSE:PIR)
Total Current Assets
$712 Mil (As of May. 2014)

Total current assets includes Cash and Cash Equivalents, Accounts Receivable, Inventory, and Other Current Assets. Pier 1 Imports Inc's total current assets for the quarter that ended in May. 2014 was $712 Mil.


Definition

Total Current Assets are the asset that can be converted to cash or used to pay current liabilities within 12 months.

Pier 1 Imports Inc's Total Current Assets for the fiscal year that ended in Feb. 2014 is calculated as

Pier 1 Imports Inc's Total Current Assets for the quarter that ended in May. 2014 is calculated as

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Total Current Assets is linked to the Current Ratio, which is the result of dividing total current assets by total current liabilities. It is frequently used as an indicator of a company's liquidity, its ability to meet short-term obligations.

Total Current Assets is also linked to Working Capital, Net working capital is calculated as Total Current Assets minus Total Current Liabilities.


Explanation

In Ben Graham’s calculation of liquidation value, inventory is only considered worth half of its book value, and accounts receivable is considered worth 75% of its value. Therefore the liquidation value is lower than calculated from total current assets.

Pier 1 Imports Inc's Liquidation Value for the quarter that ended in May. 2014 is

Liquidation value
=Cash and Cash Equivalents-Total Liabilities+(0.75 * Account Receivable)+(0.5 * Inventory)
=220.607-590.529+0.75 * 21.824+0.5 * 417.643
=-145

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Related Terms

Cash and Cash Equivalents, Accounts Receivable, Inventory, Other Current Assets


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Pier 1 Imports Inc Annual Data

Feb05Feb06Feb07Feb08Feb09Feb10Feb11Feb12Feb13Feb14
Total Current Assets 679775719664534554652650659577

Pier 1 Imports Inc Quarterly Data

Feb12May12Aug12Nov12Feb13May13Aug13Nov13Feb14May14
Total Current Assets 650605582599659696648645577712
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