GameStop 2007 Annual Report Download - page 71

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GAMESTOP CORP.
CONSOLIDATED BALANCE SHEETS
February 2,
2008
February 3,
2007
(In thousands)
ASSETS
Current assets:
Cash and cash equivalents ......................................... $ 857,414 $ 652,403
Receivables, net ................................................ 56,019 34,268
Merchandise inventories, net ....................................... 801,025 675,385
Prepaid expenses and other current assets ............................. 52,778 37,882
Prepaid taxes .................................................. — 5,545
Deferred taxes ................................................. 27,481 34,858
Total current assets ............................................ 1,794,717 1,440,341
Property and equipment:
Land ........................................................ 11,870 10,712
Buildings and leasehold improvements ............................... 378,611 305,806
Fixtures and equipment ........................................... 538,738 425,841
929,219 742,359
Less accumulated depreciation and amortization ........................ 417,550 285,896
Net property and equipment ..................................... 511,669 456,463
Goodwill, net .................................................... 1,402,440 1,403,907
Deferred financing fees ............................................ 8,963 14,375
Deferred taxes ................................................... 26,332 5,804
Other noncurrent assets ............................................ 31,770 28,694
Total other assets ............................................. 1,469,505 1,452,780
Total assets .................................................. $3,775,891 $3,349,584
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ............................................... $ 844,376 $ 717,868
Accrued liabilities............................................... 409,878 357,016
Note payable, current portion ...................................... — 12,173
Taxes payable .................................................. 6,303 —
Total current liabilities ......................................... 1,260,557 1,087,057
Senior notes payable, long-term portion, net ............................. 574,473 593,311
Senior floating rate notes payable, long-term portion ....................... — 250,000
Deferred rent and other long-term liabilities ............................. 78,415 43,338
Total long-term liabilities ....................................... 652,888 886,649
Total liabilities ............................................... 1,913,445 1,973,706
Commitments and contingencies (Notes 10 and 11)
Stockholders’ equity:
Preferred stock — authorized 5,000 shares; no shares issued or outstanding .... — —
Class A common stock — $.001 par value; authorized 300,000 shares; 161,007
and 152,305 shares issued and outstanding, respectively ................. 161 152
Additional paid-in-capital ......................................... 1,208,474 1,021,903
Accumulated other comprehensive income............................. 31,603 3,227
Retained earnings ............................................... 622,208 350,596
Total stockholders’ equity ....................................... 1,862,446 1,375,878
Total liabilities and stockholders’ equity. . . .......................... $3,775,891 $3,349,584
See accompanying notes to consolidated financial statements.
F-4