Saks Fifth Avenue 2011 Annual Report Download - page 49

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SAKS INCORPORATED & SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share amounts)
January 28,
2012
January 29,
2011
ASSETS
Current assets
Cash and cash equivalents ........................................... $ 200,176 $ 197,866
Merchandise inventories ............................................ 721,887 671,383
Other current assets ................................................ 78,139 105,404
Deferred income taxes, net .......................................... 85,472 86,116
Total current assets .............................................. 1,085,674 1,060,769
Property and equipment, net ........................................... 875,431 890,364
Deferred income taxes, net ............................................ 140,455 163,408
Other assets ........................................................ 26,905 28,559
TOTAL ASSETS ....................................................... $2,128,465 $ 2,143,100
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Trade accounts payable ............................................. $ 115,893 $ 88,378
Accrued expenses .................................................. 208,795 191,002
Accrued compensation and related items ............................... 64,552 55,029
Current portion of long-term debt ..................................... 7,472 147,498
Total current liabilities ............................................ 396,712 481,907
Long-term debt ...................................................... 367,962 359,250
Other long-term liabilities ............................................. 157,007 138,378
Commitments and contingencies ........................................ — —
Shareholders’ equity
Preferred stock, $1.00 par value - 10,000 shares authorized; no shares issued
and outstanding ................................................. — —
Common stock, $0.10 par value - 500,000 shares authorized; 160,043 and
162,899 shares issued and outstanding ............................... 16,004 16,290
Additional paid-in capital ............................................ 1,296,191 1,318,862
Accumulated other comprehensive loss ................................ (54,705) (46,091)
Accumulated deficit ................................................ (50,706) (125,496)
Total shareholders’ equity ......................................... 1,206,784 1,163,565
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY .......................... $2,128,465 $ 2,143,100
The accompanying notes are an integral part of these consolidated financial statements.
F-4