GameStop 2008 Annual Report Download - page 103

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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
Deferred income taxes — current . . .................. 24,153 3,328 — 27,481
Prepaid expenses . . . ............................. 36,793 12,122 — 48,915
Other current assets . ............................. 326 3,537 — 3,863
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
Other intangible assets ............................. 9,899 4,315 — 14,214
Deferred taxes . .................................. 7,378 18,954 — 26,332
Other noncurrent assets ............................. 14,199 12,320 — 26,519
Total noncurrent assets . . . ....................... 2,017,210 507,052 (543,088) 1,981,174
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 . . ............................. 309,472 272,229 (165,520) 416,181
Total current liabilities . . . ....................... 945,194 480,883 (165,520) 1,260,557
Senior notes payable, long-term portion, net . . ............ 574,473 — — 574,473
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-36
GAMESTOP CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)