Nordstrom 2004 Annual Report Download - page 17

consolidated balance sheets
Amounts in thousands
January 29, 2005 January 31, 2004
Assets
Current assets:
Cash and cash equivalents $360,623 $340,281
Short-term investments 41,825 176,000
Accounts receivable, net 645,663 666,811
Investment in asset backed securities 422,416 272,294
Merchandise inventories 917,182 901,623
Current deferred tax assets 131,547 121,681
Prepaid expenses and other 53,188 46,153
Total current assets 2,572,444 2,524,843
Land, buildings and equipment, net 1,780,366 1,807,778
Goodwill, net 51,714 51,714
Tradename, net 84,000 84,000
Other assets 116,866 100,898
Total assets $4,605,390 $4,569,233
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable $482,394 $458,809
Accrued salaries, wages and related benefits 287,904 276,007
Other current liabilities 354,201 314,753
Income taxes payable 115,556 66,157
Current portion of long-term debt 101,097 6,833
Total current liabilities 1,341,152 1,122,559
Long-term debt, net 929,010 1,227,410
Deferred property incentives, net 367,087 407,856
Other liabilities 179,147 177,399
Shareholders’ equity:
Common stock, no par value: 500,000 shares authorized;
135,665 and 138,377 shares issued and outstanding 552,655 424,645
Unearned stock compensation (299) (597)
Retained earnings 1,227,303 1,201,093
Accumulated other comprehensive earnings 9,335 8,868
Total shareholders’ equity 1,788,994 1,634,009
Total liabilities and shareholders’ equity $4,605,390 $4,569,233
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
consolidated statements of shareholders’ equity
Amounts in thousands except per share amounts Accumulated
Unearned Other
Common Stock Stock Retained Comprehensive
Shares Amount Compensation Earnings Earnings Total
Balance at January 31, 2002 134,469 $341,316 $(2,680) $975,203 $2,406 $1,316,245
Net earnings — — — 90,224 — 90,224
Other comprehensive earnings:
Foreign currency translation adjustment — — — — 7,755 7,755
SERP adjustment, net of tax of $4,163 — — — — (6,511) (6,511)
Securitization fair value adjustment,
net of tax of $607 — — — — (950) (950)
Comprehensive net earnings — — — — — 90,518
Cash dividends paid
($0.38 per share) — — — (51,322) — (51,322)
Issuance of common stock for:
Stock option plans 350 7,959 — — — 7,959
Employee stock purchase plan 596 8,062 — — — 8,062
Stock compensation 29 732 670 — — 1,402
Balance at January 31, 2003 135,444 358,069 (2,010) 1,014,105 2,700 1,372,864
Net earnings — — — 242,841 — 242,841
Other comprehensive earnings:
Foreign currency translation adjustment — — — — 7,379 7,379
SERP adjustment, net of tax of $3,304 — — — — (5,168) (5,168)
Securitization fair value adjustment,
net of tax of $(2,530) — — — — 3,957 3,957
Comprehensive net earnings — — — — — 249,009
Cash dividends paid
($0.41 per share) — — — (55,853) — (55,853)
Issuance of common stock for:
Stock option plans 2,260 57,981 — — — 57,981
Employee stock purchase plan 648 9,677 — — — 9,677
Stock compensation 25 (1,082) 1,413 — — 331
Balance at January 31, 2004 138,377 424,645 (597) 1,201,093 8,868 1,634,009
Net earnings — — — 393,450 — 393,450
Other comprehensive earnings:
Foreign currency translation adjustment — — — — 493 493
SERP adjustment, net of tax of $76 — — — — (119) (119)
Securitization fair value adjustment,
net of tax of $(59) — — — — 93 93
Comprehensive net earnings — — — — — 393,917
Cash dividends paid
($0.48 per share) — — — (67,240) — (67,240)
Issuance of common stock for:
Stock option plans 3,618 111,315 — — — 111,315
Employee stock purchase plan 489 14,081 — — — 14,081
Stock compensation 89 2,614 298 — — 2,912
Repurchase of common stock (6,908) — — (300,000) — (300,000)
Balance at January 29, 2005 135,665 $552,655 $(299) $1,227,303 $9,335 $1,788,994
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
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