GameStop 2007 Annual Report Download - page 103

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GAMESTOP CORP.
CONSOLIDATING BALANCE SHEET
Issuers and
Guarantor
Subsidiaries
February 3,
2007
Non-Guarantor
Subsidiaries
February 3,
2007 Eliminations
Consolidated
February 3,
2007
(Amounts in thousands, except per share amounts)
ASSETS:
Current assets:
Cash and cash equivalents . . ....................... $ 582,514 $ 69,889 $ — $ 652,403
Receivables, net . . . ............................. 51,978 9,010 (26,720) 34,268
Merchandise inventories, net ....................... 495,137 180,248 — 675,385
Prepaid expenses and other current assets . . ............ 30,528 7,354 — 37,882
Prepaid taxes .................................. 11,012 (5,467) — 5,545
Deferred taxes.................................. 33,152 1,706 — 34,858
Total current assets ............................ 1,204,321 262,740 (26,720) 1,440,341
Property and equipment:
Land . ....................................... 2,670 8,042 — 10,712
Buildings and leasehold improvements ................ 212,286 93,520 — 305,806
Fixtures and equipment ........................... 348,576 77,265 — 425,841
563,532 178,827 — 742,359
Less accumulated depreciation and amortization . . ....... 237,838 48,058 — 285,896
Net property and equipment ...................... 325,694 130,769 — 456,463
Investment ...................................... 517,332 — (517,332) —
Goodwill, net . . .................................. 1,098,089 305,818 — 1,403,907
Deferred financing fees ............................. 14,356 19 — 14,375
Deferred taxes . .................................. (6,329) 12,133 — 5,804
Other noncurrent assets ............................. 9,547 19,147 — 28,694
Total other assets . ............................. 1,632,995 337,117 (517,332) 1,452,780
Total assets .................................. $3,163,010 $730,626 $(544,052) $3,349,584
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT):
Current liabilities:
Accounts payable . . ............................. $ 569,435 $148,433 $ — $ 717,868
Accrued liabilities . . ............................. 321,944 61,792 (26,720) 357,016
Note payable, current portion ....................... 12,173 — — 12,173
Total current liabilities . . . ....................... 903,552 210,225 (26,720) 1,087,057
Senior notes payable, long-term portion, net . . ............ 593,311 — — 593,311
Senior floating rate notes payable, long-term portion . ....... 250,000 — — 250,000
Deferred rent and other long-term liabilities . . ............ 40,269 3,069 — 43,338
Total long-term liabilities . ....................... 883,580 3,069 — 886,649
Total liabilities . . ............................. 1,787,132 213,294 (26,720) 1,973,706
Stockholders’ equity (deficit):
Preferred stock — authorized 5,000 shares; no shares issued
or outstanding . . . ............................. — 50,306 (50,306) —
Class A common stock — $.001 par value; authorized
300,000 shares; 152,305 shares issued and outstanding . . . 152 16,305 (16,305) 152
Additional paid-in-capital . . . ....................... 1,021,903 360,401 (360,401) 1,021,903
Accumulated other comprehensive income (loss) . . ....... 3,227 (2,738) 2,738 3,227
Retained earnings . . ............................. 350,596 93,058 (93,058) 350,596
Total stockholders’ equity (deficit) ................. 1,375,878 517,332 (517,332) 1,375,878
Total liabilities and stockholders’ equity (deficit) ....... $3,163,010 $730,626 $(544,052) $3,349,584
F-36
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)