GameStop 2005 Annual Report Download - page 107

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GAMESTOP CORP.
CONSOLIDATING BALANCE SHEET
Issuers and
Guarantor
Subsidiaries
January 28,
2006
Non-Guarantor
Subsidiaries
January 28,
2006 Eliminations
Consolidated
January 28,
2006
(Amounts in thousands, except per share amounts)
ASSETS:
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . $ 328,923 $ 72,670 $ — $ 401,593
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87,039 12,228 (60,529) 38,738
Merchandise inventories, net. . . . . . . . . . . . . . . . . . . . . 470,013 133,165 — 603,178
Prepaid expenses and other current assets. . . . . . . . . . . . 11,016 5,323 — 16,339
Prepaid taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,601 (466) — 19,135
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,890 1,392 — 42,282
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . 957,482 224,312 (60,529) 1,121,265
Property and equipment:
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000 8,257 — 10,257
Buildings and leasehold improvements. . . . . . . . . . . . . . 194,069 68,839 — 262,908
Fixtures and equipment . . . . . . . . . . . . . . . . . . . . . . . . 288,060 55,837 — 343,897
484,129 132,933 — 617,062
Less accumulated depreciation and amortization . . . . . . . 177,241 7,696 — 184,937
Net property and equipment . . . . . . . . . . . . . . . . . . . 306,888 125,237 — 432,125
Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 463,619 — (463,619) —
Goodwill, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,091,057 301,295 — 1,392,352
Assets held for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,297 — — 19,297
Deferred financing fees . . . . . . . . . . . . . . . . . . . . . . . . . . 18,536 25 — 18,561
Other noncurrent assets . . . . . . . . . . . . . . . . . . . . . . . . . . 14,341 17,178 — 31,519
Total other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,606,850 318,498 (463,619) 1,461,729
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,871,220 $668,047 $(524,148) $3,015,119
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT):
Current liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 435,128 $108,160 $ — $ 543,288
Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 286,505 105,883 (60,529) 331,859
Note payable, current portion . . . . . . . . . . . . . . . . . . . . 12,452 75 — 12,527
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . 734,085 214,118 (60,529) 887,674
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23,923 (10,985) — 12,938
Senior notes payable, long-term portion, net . . . . . . . . . . . 641,788 — — 641,788
Senior floating rate notes payable, long-term portion . . . . . 300,000 — — 300,000
Notes payable, long-term portion . . . . . . . . . . . . . . . . . . . 21,189 486 — 21,675
Other long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . 35,522 809 — 36,331
Total long-term liabilities . . . . . . . . . . . . . . . . . . . . . 1,022,422 (9,690) — 1,012,732
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,756,507 204,428 (60,529) 1,900,406
Stockholders’ equity (deficit):
Preferred stock — authorized 5,000 shares; no shares
issued or outstanding . . . . . . . . . . . . . . . . . . . . . . . . — 47,313 (47,313) —
Class A common stock — $.001 par value; authorized
300,000 shares; 42,895 shares issued and outstanding. . 43 6,938 (6,938) 43
Class B common stock — $.001 par value; authorized
100,000 shares; 29,902 shares issued and outstanding. . 30 8,197 (8,197) 30
Additional paid-in-capital . . . . . . . . . . . . . . . . . . . . . . . 921,349 333,163 (333,163) 921,349
Accumulated other comprehensive income (loss). . . . . . . 886 50 (50) 886
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . 192,405 67,958 (67,958) 192,405
Total stockholders’ equity (deficit) . . . . . . . . . . . . . . . 1,114,713 463,619 (463,619) 1,114,713
Total liabilities and stockholders’ equity (deficit) . . . . . $2,871,220 $668,047 $(524,148) $3,015,119
98
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)