We ended the third quarter with 67 total company-owned retail stores and showrooms as compared to 70 stores and showrooms at the end of the third quarter of 2010.
Inventory at quarter end was $249 million versus $276 million in the third quarter of 2010. We continue to expect the end of the year with inventory levels down approximately $10 million to $20 billion from the current level. Cash at quarter end totaled $21.2 million, and long-term debt totaled $77 million.
At the end of the quarter, the excess availability to borrow under our asset base loan agreement was approximately $39.3 million above the $35 million fixed charge coverage threshold for total liquidity of $60.5 million. The decrease in our cash balance compared to the end of the second quarter largely reflects the investments being made in Indonesia and Mexico and an extra week of payroll in the third quarter of 2011, compared to the second quarter.
Year-to-date capital spend came in at $24 million, we expect our capital expenditure for the full year to be within our previously issued $25 million to $29 million guidance range, and this depreciation expense for 2011 to be approximately $22 million.Our required 2011 pension contribution is $3.1 million, we made a $600,000 cash contribution during the third quarter and we made the final $2.5 million cash contribution to our plan after the quarter ended in October to fulfill our 2011 funding requirements. Read the rest of this transcript for free on seekingalpha.com