Saks Fifth Avenue 2008 Annual Report Download - page 95

SAKS INCORPORATED & SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF JANUARY 31, 2009
(In Thousands)
SAKS
INCORPORATED
GUARANTOR
SUBSIDIARIES ELIMINATIONS CONSOLIDATED
ASSETS
CURRENT ASSETS
Cash and cash equivalents .......... $ 236 $ 10,037 $ 10,273
Merchandise inventories ............ 728,841 728,841
Other current assets ................ 105,350 105,350
Deferred income taxes, net .......... 29,916 29,916
TOTAL CURRENT ASSETS ...... 236 874,144 — 874,380
PROPERTY AND EQUIPMENT,
NET ............................. 1,057,417 1,057,417
DEFERRED INCOME TAXES, NET . . . 77,738 134,095 211,833
OTHER ASSETS .................... 5,043 16,335 21,378
INVESTMENT IN AND ADVANCES
TO SUBSIDIARIES ................ 1,553,960 $(1,553,960)
$1,636,977 $2,081,991 $(1,553,960) $2,165,008
LIABILITIES AND SHAREHOLDERS’
EQUITY
CURRENT LIABILITIES
Accounts payable ................. $ 90,208 $ 90,208
Accrued expenses and other current
liabilities ...................... $ 8,235 267,312 275,547
Current portion of long-term debt .... 84,132 (79,459) 4,673
TOTAL CURRENT LIABILITIES ..... 92,367 278,061 — 370,428
LONG-TERM DEBT ................. 578,990 56,410 635,400
OTHER LONG-TERM
LIABILITIES ..................... 193,560 193,560
INVESTMENT BY AND ADVANCES
FROM PARENT ................... 1,553,960 $(1,553,960)
SHAREHOLDERS’ EQUITY .......... 965,620 965,620
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY .... $1,636,977 $2,081,991 $(1,553,960) $2,165,008
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