Big Lots 2011 Annual Report Download - page 157

41
The accompanying notes are an integral part of these consolidated financial statements.
BIG LOTS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In thousands, except par value)
January 28,
2012 January 29, 2011
ASSETS
Current assets:
Cash and cash equivalents .......................................... $ 68,547 $ 177,539
Inventories ...................................................... 825,195 762,146
Deferred income taxes ............................................. 42,784 50,252
Other current assets ............................................... 70,130 61,782
Total current assets ............................................. 1,006,656 1,051,719
Property and equipment — net ......................................... 572,767 524,906
Deferred income taxes ................................................ 6,549 6,666
Restricted cash ...................................................... — 8,000
Goodwill .......................................................... 12,282 —
Other assets ........................................................ 43,056 28,308
Total assets ................................................... $ 1,641,310 $ 1,619,599
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable ................................................. $ 350,117 $ 302,818
Property, payroll, and other taxes..................................... 74,396 75,401
Accrued operating expenses......................................... 56,088 53,771
Insurance reserves ................................................ 35,159 37,741
KB bankruptcy lease obligation...................................... 3,115 3,552
Accrued salaries and wages ......................................... 29,170 43,433
Income taxes payable .............................................. 36,775 25,215
Total current liabilities .......................................... 584,820 541,931
Long-term obligations ................................................ 65,900 —
Deferred rent ....................................................... 59,320 42,037
Insurance reserves ................................................... 49,794 46,145
Unrecognized tax benefits ............................................. 18,681 19,142
Other liabilities...................................................... 39,562 23,551
Shareholders’ equity:
Preferred shares — authorized 2,000 shares; $0.01 par value; none issued .... — —
Common shares — authorized 298,000 shares; $0.01 par value;
issued 117,495 shares; outstanding 63,609 shares
and 73,894 shares, respectively ................................... 1,175 1,175
Treasury shares — 53,886 shares and 43,601 shares, respectively, at cost ..... (1,423,524) (1,079,130)
Additional paid-in capital........................................... 542,160 523,341
Retained earnings................................................. 1,718,941 1,511,877
Accumulated other comprehensive loss................................ (15,519) (10,470)
Total shareholders’ equity........................................ 823,233 946,793
Total liabilities and shareholders’ equity ............................ $ 1,641,310 $ 1,619,599