Saks Fifth Avenue 2011 Annual Report Download - page 84

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SAKS INCORPORATED & SUBSIDIARIES
CONDENSED CONSOLIDATING BALANCE SHEETS
AS OF JANUARY 29, 2011
Saks
Incorporated
Guarantor
Subsidiaries Eliminations Consolidated
ASSETS
Current assets
Cash and cash equivalents ................. $ 190,007 $ 7,859 $ 197,866
Merchandise inventories .................. 671,383 671,383
Other current assets ...................... 105,404 105,404
Deferred income taxes, net ................ 86,116 86,116
Total current assets ..................... 190,007 870,762 — 1,060,769
Property and equipment, net ................. 890,364 890,364
Deferred income taxes, net .................. 93,562 69,846 163,408
Other assets .............................. 10,127 18,432 28,559
Investment in and advances to subsidiaries ...... 1,332,009 $ (1,332,009)
TOTAL ASSETS ............................. $ 1,625,705 $ 1,849,404 $ (1,332,009) $ 2,143,100
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Trade accounts payable ................... $ 88,378 $ 88,378
Accrued expenses and other current
liabilities ............................. $ 9,121 236,910 246,031
Current portion of long-term debt ........... 141,557 5,941 147,498
Total current liabilities .................. 150,678 331,229 — 481,907
Long-term debt ............................ 311,462 47,788 359,250
Other long-term liabilities .................... 138,378 138,378
Investment by and advances from parent ....... 1,332,009 $ (1,332,009)
Shareholders’ equity ........................ 1,163,565 1,163,565
TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY ................................ $ 1,625,705 $ 1,849,404 $ (1,332,009) $ 2,143,100
F-39