Kohl's 2011 Annual Report Download - page 57

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KOHL’S CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
1. Business and Summary of Accounting Policies (continued)
Long-term Liabilities
Other long-term liabilities consist of the following:
Jan. 28,
2012
Jan. 29,
2011
(In Millions)
Property-related liabilities (straight-line rents and rent incentives) ...... $285 $268
Unrecognized tax benefits, including accrued interest and penalties .... 118 120
Deferred compensation ....................................... 39 38
Other ...................................................... 18 24
$460 $450
We have corrected the presentation of $70 million of long-term lease assets that were previously netted
against other long-term liabilities in our Consolidated Balance Sheet as of January 31, 2011.
Treasury Stock
We account for repurchases of common stock using the cost method with common stock in treasury
classified in the Consolidated Balance Sheets as a reduction of shareholders’ equity.
Accumulated Other Comprehensive Loss and Other Comprehensive (Loss) Income
Accumulated other comprehensive loss consists of the following:
Unrealized
Gains
(Losses) on
Investments
Loss on
Interest
Rate
Derivatives
Accumulated
Other
Comprehensive
Loss
(In Millions)
Balance at January 30, 2010 ........................ $(36) $— $(36)
Other comprehensive loss .......................... (1) — (1)
Balance at January 29, 2011 ........................ (37) — (37)
Other comprehensive income (loss) ................... 13 (29) (16)
Balance at January 28, 2012 ........................ $(24) $ (29) $(53)
The tax effects of each component of other comprehensive (loss) income are as follows:
2011 2010 2009
(In Millions)
Unrealized gains (losses) on investments:
Before-tax amounts .......................................... $21 $ (2) $ 16
Tax (expense) benefit ......................................... (8) 1 (6)
After-tax amounts ........................................... 13 (1) 10
Interest rate derivatives:
Before-tax amounts .......................................... (47) ——
Tax benefit ................................................. 18 ——
After-tax amounts ........................................... (29) ——
Other comprehensive (loss) income ................................. $(16) $ (1) $ 10
F-11