Saks Fifth Avenue 2008 Annual Report Download - page 58

SAKS INCORPORATED & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In Thousands, except per share amounts)
January 31,
2009
February 2,
2008
ASSETS
CURRENT ASSETS
Cash and cash equivalents ............................................ $ 10,273 $ 101,162
Merchandise inventories ............................................. 728,841 857,173
Other current assets ................................................. 105,350 124,973
Deferred income taxes, net ........................................... 29,916 42,827
TOTAL CURRENT ASSETS ................................... 874,380 1,126,135
PROPERTY AND EQUIPMENT, NET OF DEPRECIATION ................ 1,057,417 1,092,004
DEFERRED INCOME TAXES, NET ..................................... 211,833 97,108
OTHER ASSETS ...................................................... 21,378 55,777
TOTAL ASSETS .............................................. $2,165,008 $2,371,024
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable .................................................. $ 90,208 $ 176,844
Accrued expenses .................................................. 233,504 233,739
Accrued compensation and related items ................................ 42,043 51,213
Current portion of long-term debt ...................................... 4,673 319,242
TOTAL CURRENT LIABILITIES ............................... 370,428 781,038
LONG-TERM DEBT .................................................. 635,400 253,346
OTHER LONG-TERM LIABILITIES .................................... 193,560 161,034
COMMITMENTS AND CONTINGENCIES .............................. — —
SHAREHOLDERS’ EQUITY
Preferred stock — $1.00 par value; Authorized — 10,000 shares; Issued and
outstanding — none .............................................. — —
Common stock — $0.10 par value; Authorized — 500,000 shares; Issued and
outstanding — 142,170 shares and 141,784 shares ...................... 14,218 14,180
Additional paid-in capital ............................................ 1,105,199 1,119,192
Accumulated other comprehensive loss ................................. (56,436) (15,002)
Retained earnings (accumulated deficit) ................................. (97,361) 57,236
TOTAL SHAREHOLDERS’ EQUITY ............................ 965,620 1,175,606
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY .......... $2,165,008 $2,371,024
The accompanying notes are an integral part of these consolidated financial statements.
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