GameStop 2007 Annual Report Download - page 102

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Company, excluding GameStop, Inc., as co-issuer, have guaranteed the Senior Notes on a senior unsecured basis
with unconditional guarantees.
The following consolidating financial statements present the financial position as of February 2, 2008 and
February 3, 2007 and results of operations and cash flows for the fiscal years ended February 2, 2008, February 3,
2007 and January 28, 2006 of the Company’s guarantor and non-guarantor subsidiaries.
GAMESTOP CORP.
CONSOLIDATING BALANCE SHEET
Issuers and
Guarantor
Subsidiaries
February 2,
2008
Non-Guarantor
Subsidiaries
February 2,
2008 Eliminations
Consolidated
February 2,
2008
(Amounts in thousands, except per share amounts)
ASSETS:
Current assets:
Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 671,333 $ 186,081 $ — $ 857,414
Receivables, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198,923 22,616 (165,520) 56,019
Merchandise inventories, net . . . . . . . . . . . . . . . . . . . . . . . . . . . 501,861 299,164 — 801,025
Prepaid expenses and other current assets . . . . . . . . . . . . . . . . . . 37,119 15,659 — 52,778
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,153 3,328 — 27,481
Total current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,433,389 526,848 (165,520) 1,794,717
Property and equipment:
Land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,670 9,200 — 11,870
Buildings and leasehold improvements . . . . . . . . . . . . . . . . . . . . 246,907 131,704 — 378,611
Fixtures and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 427,623 111,115 — 538,738
677,200 252,019 — 929,219
Less accumulated depreciation and amortization . . . . . . . . . . . . . 331,176 86,374 — 417,550
Net property and equipment . . . . . . . . . . . . . . . . . . . . . . . . . 346,024 165,645 — 511,669
Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 543,088 — (543,088) —
Goodwill, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,096,622 305,818 — 1,402,440
Deferred financing fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,943 20 — 8,963
Deferred taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,378 18,954 — 26,332
Other noncurrent assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,155 16,615 — 31,770
Total other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,671,186 341,407 (543,088) 1,469,505
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,450,599 $1,033,900 $(708,608) $3,775,891
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT):
Current liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 635,722 $ 208,654 $ — $ 844,376
Accrued liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318,314 257,084 (165,520) 409,878
Taxes payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,842) 15,145 — 6,303
Total current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 945,194 480,883 (165,520) 1,260,557
Senior notes payable, long-term portion, net . . . . . . . . . . . . . . . . . . 574,473 — — 574,473
Deferred rent and other long-term liabilities . . . . . . . . . . . . . . . . . . 68,486 9,929 — 78,415
Total long-term liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . 642,959 9,929 — 652,888
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,588,153 490,812 (165,520) 1,913,445
Stockholders’ equity (deficit):
Preferred stock — authorized 5,000 shares; no shares issued or
outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 57,407 (57,407) —
Class A common stock — $.001 par value; authorized
300,000 shares; 161,007 shares issued and outstanding . . . . . . . 161 31,484 (31,484) 161
Additional paid-in-capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,208,474 296,860 (296,860) 1,208,474
Accumulated other comprehensive income (loss) . . . . . . . . . . . . . 31,603 11,262 (11,262) 31,603
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 622,208 146,075 (146,075) 622,208
Total stockholders’ equity (deficit) . . . . . . . . . . . . . . . . . . . . . 1,862,446 543,088 (543,088) 1,862,446
Total liabilities and stockholders’ equity (deficit) . . . . . . . . . . . $3,450,599 $1,033,900 $(708,608) $3,775,891
F-35
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)