Nordstrom 2007 Annual Report Download - page 45

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Nordstrom, Inc. and subsidiaries 37
Nordstrom, Inc.
Consolidated Balance Sheets
In millions
February 2, 2008 February 3, 2007
Assets
Current assets:
Cash and cash equivalents $358 $403
Accounts receivable, net 1,788 684
Investment in asset backed securities —428
Merchandise inventories 956 997
Current deferred tax assets, net 181 169
Prepaid expenses and other 78 61
Total current assets 3,361 2,742
Land, buildings and equipment, net 1,983 1,757
Goodwill 53 52
Acquired tradename —84
Other assets 203 187
Total assets $5,600 $4,822
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable $556 $577
Accrued salaries, wages and related benefits 268 340
Other current liabilities 492 433
Income taxes payable 58 76
Current portion of long-term debt 261 7
Total current liabilities 1,635 1,433
Long-term debt, net 2,236 624
Deferred property incentives, net 369 356
Other liabilities 245 240
Commitments and contingent liabilities
Shareholders’ equity:
Common stock, no par value: 1,000 shares authorized;
221 and 257 shares issued and outstanding 936 827
Retained earnings 201 1,351
Accumulated other comprehensive loss (22) (9)
Total shareholders’ equity 1,115 2,169
Total liabilities and shareholders’ equity $5,600 $4,822
The accompanying Notes to Consolidated Financial Statements are an integral part of these financial statements.