Kohl's 2015 Annual Report Download - page 48
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Table of Contents
Accrued liabilities consist of the following:
Gift cards and merchandise return cards
$ 307
Payroll and related fringe benefits
135
Sales, property and use taxes
185
Credit card liabilities
106
Marketing
63
Accrued capital
73
Shipping and other distribution costs
27
Other
264
Accrued liabilities
$ 1,160
We use a combination of insurance and self-insurance for a number of risks. Liabilities associated with workers’ compensation, general liability, and
employee-related health care benefits losses include estimates of both reported losses and losses incurred but not yet reported. We use a third-party actuary,
which considers historical claims experience, demographic factors, severity factors and other actuarial assumptions, to estimate the liabilities associated with
these risks. Total estimated liabilities for workers’ compensation, general liability and employee-related health benefits were approximately $58 million at
January 30, 2016 and $53 million at January 31, 2015. Although these amounts are actuarially determined based on analysis of historical trends, the amounts
that we will ultimately disburse could differ from these estimates.
Our self insurance exposure for property losses differs based on the type of claim. For catastrophic claims like earthquakes, floods and windstorms,
depending on the location, we are self insured for 2-5% of the insurance claim. For other standard claims like fire and building damages, we are self insured
for the first $250,000 of property loss claims.
We account for repurchases of common stock and shares withheld in lieu of taxes when restricted stock vests 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 consists of the following:
Balance at February 1, 2014 $ (23)
$ (11)
$ (34)
Other comprehensive income 3
11
14
Balance at January 31, 2015 (20)
—
(20)
Other comprehensive income
Balance at January 30, 2016
F-9