Sears 2006 Annual Report Download - page 56

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SEARS HOLDINGS CORPORATION
Consolidated Balance Sheets
millions, except per share data
February 3,
2007
January 28,
2006
ASSETS
Current assets
Cash and cash equivalents ............................................. $ 3,968 $ 4,440
Accounts receivable .................................................. 847 811
Merchandise inventories ............................................... 9,907 9,068
Prepaid expenses and other current assets ................................. 372 372
Deferred income taxes ................................................ 312 516
Total current assets ................................................... 15,406 15,207
Property and equipment
Land .................................................................. 2,105 2,146
Buildings and improvements ............................................... 5,981 5,920
Furniture, fixtures and equipment ............................................ 2,408 2,268
Capital leases ........................................................... 352 367
Gross property and equipment .......................................... 10,846 10,701
Less accumulated depreciation .......................................... (1,714) (878)
Total property and equipment, net ....................................... 9,132 9,823
Goodwill ............................................................... 1,692 1,684
Tradenames and other intangible assets ....................................... 3,437 3,448
Other assets ............................................................. 399 411
TOTAL ASSETS .................................................... $30,066 $30,573
LIABILITIES
Current liabilities
Short-term borrowings ................................................ $ 94 $ 178
Current portion of long-term debt and capitalized lease obligations ............. 613 570
Merchandise payables ................................................. 3,312 3,458
Income taxes payable ................................................. 359 449
Other current liabilities ................................................ 3,965 3,917
Unearned revenues ................................................... 1,073 1,047
Other taxes ......................................................... 636 731
Total current liabilities ................................................ 10,052 10,350
Long-term debt and capitalized lease obligations ................................ 2,849 3,268
Pension and postretirement benefits .......................................... 1,648 2,421
Minority interest and other liabilities ......................................... 2,803 2,923
Total Liabilities .......................................................... 17,352 18,962
SHAREHOLDERS’ EQUITY
Preferred stock, 20 shares authorized; no shares outstanding ...................... — —
Common stock $0.01 par value; 500 shares authorized; 154 and 160 shares outstanding,
respectively ........................................................... 2 2
Capital in excess of par value ............................................... 10,393 10,258
Retained earnings ........................................................ 3,688 2,198
Treasury stock—at cost ................................................... (1,437) (642)
Accumulated other comprehensive income (loss) ............................... 68 (205)
Total Shareholders’ Equity ............................................. 12,714 11,611
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY ................ $30,066 $30,573
See accompanying Notes to Consolidated Financial Statements.
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