GameStop 2005 Annual Report Download - page 108

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GAMESTOP CORP.
CONSOLIDATING BALANCE SHEET
Issuers and
Guarantor
Subsidiaries
January 29,
2005
Non-Guarantor
Subsidiaries
January 29,
2005 Eliminations
Consolidated
January 29,
2005
(Amounts in thousands, except per share amounts)
ASSETS:
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . $167,788 $ 3,204 $ — $170,992
Receivables, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,516 296 — 9,812
Merchandise inventories, net. . . . . . . . . . . . . . . . . . . . . 210,634 5,662 — 216,296
Prepaid expenses and other current assets. . . . . . . . . . . . 17,997 403 — 18,400
Prepaid taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,921 782 — 3,703
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,785 — — 5,785
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . 414,641 10,347 — 424,988
Property and equipment:
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000 — — 2,000
Leasehold improvements . . . . . . . . . . . . . . . . . . . . . . . 104,418 2,010 — 106,428
Fixtures and equipment . . . . . . . . . . . . . . . . . . . . . . . . 180,119 4,417 — 184,536
286,537 6,427 — 292,964
Less accumulated depreciation and amortization . . . . . . . 123,791 774 — 124,565
Net property and equipment . . . . . . . . . . . . . . . . . . . 162,746 5,653 — 168,399
Goodwill, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 317,957 2,931 — 320,888
Deferred financing fees . . . . . . . . . . . . . . . . . . . . . . . . . . 566 — — 566
Other noncurrent assets . . . . . . . . . . . . . . . . . . . . . . . . . . 1,629 — (487) 1,142
Total other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 320,152 2,931 (487) 322,596
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $897,539 $18,931 $ (487) $915,983
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT):
Current liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . $205,014 $ 1,725 $ — $206,739
Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78,264 16,719 — 94,983
Note payable, current portion . . . . . . . . . . . . . . . . . . . . 12,173 — — 12,173
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . 295,451 18,444 — 313,895
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21,257 — — 21,257
Notes payable, long-term portion . . . . . . . . . . . . . . . . . . . 24,347 — — 24,347
Deferred rent and other long-term liabilities . . . . . . . . . . . . 13,473 — — 13,473
Total long-term liabilities . . . . . . . . . . . . . . . . . . . . . 59,077 — — 59,077
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 354,528 18,444 — 372,972
Stockholders’ equity (deficit):
Preferred stock — authorized 5,000 shares; no shares
issued or outstanding . . . . . . . . . . . . . . . . . . . . . . . . — — — —
Class A common stock — $.001 par value; authorized
300,000 shares; 24,189 shares issued . . . . . . . . . . . . . 24 — — 24
Class B common stock — $.001 par value; authorized
100,000 shares; 29,902 shares issued and outstanding. . 30 — — 30
Additional paid-in-capital . . . . . . . . . . . . . . . . . . . . . . . 500,769 3,340 (3,340) 500,769
Accumulated other comprehensive income . . . . . . . . . . . 567 (118) 118 567
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91,621 (2,735) 2,735 91,621
Treasury stock, at cost, 3,263 shares . . . . . . . . . . . . . . . (50,000) — — (50,000)
Total stockholders’ equity (deficit) . . . . . . . . . . . . . . . 543,011 487 (487) 543,011
Total liabilities and stockholders’ equity (deficit) . . . . . $897,539 $18,931 $ (487) $915,983
99
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)