Saks Fifth Avenue 2008 Annual Report Download - page 98

SAKS INCORPORATED & SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF FEBRUARY 2, 2008
(In Thousands)
SAKS
INCORPORATED
GUARANTOR
SUBSIDIARIES ELIMINATIONS CONSOLIDATED
ASSETS
CURRENT ASSETS
Cash and cash equivalents .......... $ 85,492 $ 15,670 $ 101,162
Merchandise inventories ............ 857,173 857,173
Other current assets ................ 124,973 124,973
Deferred income taxes, net .......... 42,827 42,827
TOTAL CURRENT ASSETS ...... 85,492 1,040,643 1,126,135
PROPERTY AND EQUIPMENT,
NET ............................. 1,092,004 1,092,004
DEFERRED INCOME TAXES, NET . . . 68,069 29,039 97,108
OTHER ASSETS .................... 7,962 47,815 55,777
INVESTMENT IN AND ADVANCES
TO SUBSIDIARIES ................ 1,531,222 $(1,531,222)
$1,692,745 $2,209,501 $(1,531,222) $2,371,024
LIABILITIES AND SHAREHOLDERS’
EQUITY
CURRENT LIABILITIES
Accounts payable ................. $ 176,844 $ 176,844
Accrued expenses and other current
liabilities ...................... $ 10,744 274,208 284,952
Current portion of long-term debt .... 314,132 5,110 319,242
TOTAL CURRENT LIABILITIES ..... 324,876 456,162 781,038
LONG-TERM DEBT ................. 192,263 61,083 253,346
OTHER LONG-TERM
LIABILITIES ..................... — 161,034 161,034
INVESTMENT BY AND ADVANCES
FROM PARENT ................... 1,531,222 $(1,531,222)
SHAREHOLDERS’ EQUITY .......... 1,175,606 1,175,606
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY .... $1,692,745 $2,209,501 $(1,531,222) $2,371,024
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