GameStop 2008 Annual Report Download - page 102

The following consolidating financial statements present the financial position as of January 31, 2009 and
February 2, 2008 and results of operations and cash flows for the fiscal years ended January 31, 2009, February 2,
2008 and February 3, 2007 of the Company’s guarantor and non-guarantor subsidiaries.
GAMESTOP CORP.
CONSOLIDATING BALANCE SHEET
Issuers and
Guarantor
Subsidiaries
January 31,
2009
Non-Guarantor
Subsidiaries
January 31,
2009 Eliminations
Consolidated
January 31,
2009
(Amounts in thousands, except per share amounts)
ASSETS:
Current assets:
Cash and cash equivalents . . ................................ $ 373,178 $ 204,963 $ — $ 578,141
Receivables, net . . . ..................................... 195,677 678,203 (807,899) 65,981
Merchandise inventories, net ................................ 637,257 438,535 — 1,075,792
Deferred income taxes — current . . ........................... 21,088 2,527 — 23,615
Prepaid expenses . . . ..................................... 40,957 18,144 — 59,101
Other current assets . ..................................... 6,262 9,149 — 15,411
Total current assets ..................................... 1,274,419 1,351,521 (807,899) 1,818,041
Property and equipment:
Land . ............................................... 2,670 7,727 — 10,397
Buildings and leasehold improvements .......................... 281,481 173,170 — 454,651
Fixtures and equipment.................................... 509,585 110,260 — 619,845
793,736 291,157 — 1,084,893
Less accumulated depreciation and amortization . . ................. 436,068 99,571 — 535,639
Net property and equipment ............................... 357,668 191,586 — 549,254
Investment ............................................. 1,870,083 — (1,870,083) —
Goodwill, net. . .......................................... 1,096,622 765,485 — 1,862,107
Other intangible assets . ..................................... — 247,790 — 247,790
Other noncurrent assets ..................................... 5,621 29,777 — 35,398
Total noncurrent assets . . ................................ 3,329,994 1,234,638 (1,870,083) 2,694,549
Total assets .......................................... $4,604,413 $2,586,159 $(2,677,982) $4,512,590
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT):
Current liabilities:
Accounts payable . . ..................................... $ 736,805 $ 311,158 $ — $1,047,963
Accrued liabilities . . ..................................... 988,211 334,436 (807,899) 514,748
Total current liabilities . . ................................ 1,725,016 645,594 (807,899) 1,562,711
Senior notes payable, long-term portion, net . . ...................... 545,712 — — 545,712
Other long-term liabilities . . . ................................ 34,004 70,482 — 104,486
Total long-term liabilities . ................................ 579,716 70,482 — 650,198
Total liabilities . . . ..................................... 2,304,732 716,076 (807,899) 2,212,909
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;
163,843 shares issued and outstanding . . ...................... 164 — — 164
Additional paid-in-capital . . ................................ 1,307,453 1,699,630 (1,699,630) 1,307,453
Accumulated other comprehensive income (loss) . . ................. (28,426) (33,800) 33,800 (28,426)
Retained earnings . . ..................................... 1,020,490 204,253 (204,253) 1,020,490
Total stockholders’ equity (deficit) ........................... 2,299,681 1,870,083 (1,870,083) 2,299,681
Total liabilities and stockholders’ equity (deficit) ................. $4,604,413 $2,586,159 $(2,677,982) $4,512,590
F-35
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)